London leaders urge government to let TfL keep £500m in vehicle duty ahead of new bailout talks February 10, 2021 The leaders of the London Assembly’s political parties have come together to urge transport secretary Grant Shapps to allow the capital to keep the £500m it raises in Vehicle Excise Duty (VED) every year. Led by Mayor Sadiq Khan, the leaders have written to the government asking that London receive its “fair share” of the [...]
Hydrogen truck firm Hyzon to go public through SPAC February 9, 2021 Fuel-cell truck firm Hyzon Motors has agreed to go public through a merger with blank-check firm Decarbonization Plus Acquisition Corp in a deal that values the startup at $2.7bn. It is the latest electric vehicle company which has chosen mergers with special purpose acquisition companies (SPACs) as the route to go public instead of traditional initial [...]
Totally different? Oil giant to rebrand as Total Energies February 9, 2021 French oil giant Total today said it would change its name as the firm looks to reduce the share of sales it derives from oil products over the next decade. The supermajor will rebrand as Total Energies, it said today, as it seeks to expand its renewable energy presence. Central to this is a plan [...]
Eurostar collapse would be ‘disastrous’, warns RMT February 9, 2021 The UK’s biggest union for transport workers, the RMT, has today warned the government that failing to support the Eurostar would be “disastrous” for the country. The union has launched a petition calling on transport secretary Grant Shapps to “urgently agree” assistance for the cross-Channel rail link. However, all the signs so far suggest that [...]
Oil prices hit highest levels in 13 months on back of supply cuts February 9, 2021 A seventh straight session of gains sent oil prices to their highest levels since January 2020 this morning. The rise was driven by a combination of supply cuts by major producers and optimism over a recovery in fuel demand support energy markets. Benchmark Brent crude futures picked up 0.7 per cent to stand at $60.97 [...]
In-demand G4S hails ‘strong’ last quarter as takeover deadlines loom February 9, 2021 Security firm G4S this morning hailed a “strong” fourth quarter as the bidding war for the outsourcer approached its conclusion. The FTSE 250 firm said that it had achieved an “exceptional commercial performance” in the final period, with new and retained contracts worth £5.5bn. In a trading update, G4S said its cash flow benefited from Covid-19 payroll [...]
Cain International mulling insolvency process for Italian chain Prezzo – report February 8, 2021 The private equity firm which bought Italian chain Prezzo in December is reportedly mulling putting the restaurant group through an insolvency process. Sky News reported that Cain International was considering a number of options, including pre-pack administration, as uncertainty over the future of the casual dining sector goes on. The firm, which also owns Swingers [...]
Heathrow ‘key’ to success of UK’s freeports push, airport says February 8, 2021 Heathrow Airport has said that the UK’s biggest air travel hub has a “key role in facilitating the successful implementation of the UK’s freeports policy”. In its application for freeport status, which was submitted on Friday, the airport said it played “a central role in facilitating Britain’s position as an independent trading nation by enabling [...]
Cornish Metals raises £8m as Poldark spirit takes hold of investors February 8, 2021 A Canadian mining firm aiming to restore Cornwall’s fortunes as a mining hotspot has beaten expectations with a £8m raise this morning. Cornish Metals, which is due to list on London’s AIM market in the coming weeks, had hoped to raise £5m through a placing. However, investors piled into the project, which is seeking to [...]
Airport hotel chain still ‘in the dark’ over new UK quarantine plans February 4, 2021 Britain's biggest airport hotel chain has been "kept in the dark" over how the government's hotel quarantine policy for arrivals will work, a week on from its announcement.
