Rain, rain, go away: B&Q sales hit by UK’s miserable spring weather May 24, 2023 B&Q owner Kingfisher saw its sales dip in the first quarter to £3.3bn, down 3.3 per cent on a like-for-like basis, as the home improvement company saw performance dampened by grim April weather in the UK and France, and ongoing inflation. Despite this, the retail giant said the results showed “resilience” to the economic climate, [...]
Hybrid working: Khan must do more to get workers back to the city centre, says new report May 24, 2023 London’s mayor Sadiq Khan must do more to encourage workers back into the office in order to avoid a productivity slump and “unintended economic impact,” says a new report today. The report – authored by the Centre for Cities think tank – urged the government and mayor of London to reduce cost-barriers for commuters using [...]
Boeing boss warns sustainable aviation fuels will ‘never achieve the price of jet fuel’ May 23, 2023 Boeing’s boss David Calhoun has warned that new sustainable biofuels will “never achieve the price of jet fuel,” downplaying widespread hopes for the technology in the sector. According to reports in the Financial Times today, Calhoun said he believes sustainable aviation fuels (SAF) have the potential to become more economical. However, he also said: “I [...]
Altice ups stake in BT – but ‘does not intend’ to launch takeover bid May 23, 2023 Altice, the French telecoms firm, will up its stake in BT to 24.5 per cent, but it “does not intend” to make a takeover bid. The group owned by billionaire Patrick Drahi is BT’s largest shareholder, and said that it will acquire a further 650m shares, increasing its ownership to 2.5bn. It comes just a [...]
Elizabeth Line: London can enjoy strike free half term as industrial action on route binned May 23, 2023 Elizabeth Line strikes will no longer take place on 27 May, marking the end of planned half-term industrial action for London’s busiest route as it marks its first anniversary. Eighty percent of TSSA members voted to accept the latest pay offer, which the union says addressed their main concerns. As a result, the planned ‘Action [...]
Heathrow: ‘Doomed’ third runway plans under attack from London politicians May 23, 2023 Heathrow Airport’s plans to reduce the impact of noise are “not ambitious enough,” the London Assembly said this morning, in a letter urging the airport to provide more clarity on the current status of its third runway expansion. The letter, addressed to Heathrow boss John Holland Kaye, said that the “lack of clarity” over the [...]
London Heathrow: Passengers will face ‘no cancellations’ during half term strikes May 22, 2023 London Heathrow airport has assured passengers not to worry about upcoming half-term strike action by security officers, stating that “no flights” will be cancelled as a result. The airport said it remained confident of its ability to handle this weeks walk-outs, having delivered “excellent passenger service throughout the previous strike periods,” with most passengers waiting [...]
Harvey Nichols boss warns tourism tax is hurting UK economy May 22, 2023 The boss of Harvey Nichols has warned that the so-called ‘tourism tax,’ created by the scrapping of tax-free shopping in 2021, is having a significant impact on the wider British economy. Chief executive Manju Malhotra told The Times that the tax was affecting not just retailers that benefit from international visitors, but the “entire ecosystem [...]
Ryanair posts record £1.26bn profits – but warns of turbulence with strikes and high fuel prices May 22, 2023 Ryanair posted record profits of $1.57bn (£1.26bn) in its full year results, as it cashed in on rising fares and strong traffic recovery – but warned it may experience turbulence in the near future. The low cost carrier flew a record 168.6m passengers, up 74 per cent, in the year ending March and said that [...]
Insurance firm AXA tells UK to hurry up on rules for self-driving cars May 22, 2023 Insurers have called on the UK government to get a move on with legislation for self-driving cars or risk creating a “messy” middle ground for insurance firms where liability isn’t clear. AXA’s CEO Claudio Gienal has written to Chancellor Jeremy Hunt calling for clear legislation to be implemented as soon as possible to make sure [...]