Greenwich could lose TfL funding following LTN slashing March 11, 2022 Greenwich was warned it could lose Transport for London (TfL) funding after it decided to slash the low-traffic neighbourhood (LTN) scheme. The council, led by Labour’s Danny Thorpe, slashed the LTN after residents complained about the detrimental effect on traffic in the borough but now it’s being asked to explain the decision, the Evening Standard [...]
Headwinds stunt Heathrow’s traffic growth March 11, 2022 Heathrow said today Covid-related headwinds have continued to stunt its traffic growth, as passenger numbers last month remained 15 per cent below forecast. February passenger numbers totalled 2.8 million, 50 per cent down on pre-pandemic levels, as inbound and business travel remain hindered by testing and quarantine regimes in two-thirds of the markets the airport [...]
PM warns Moscow could use chemical weapons in Ukraine March 11, 2022 Prime Minister Boris Johnson said today that Russia might be ready to deploy chemical weapons in Ukraine, echoing White House warnings. “That the stuff that you’re hearing about chemical weapons is straight out of their playbook,” Johnson told Sky News. “They start saying that there are chemical weapons that have been stored by their opponents or [...]
TfL approves 5.5 per cent increase in cabs’ fares to help drivers face economic situation March 10, 2022 Transport for London’s (TfL) finance committee approved today a 5.5 per cent increase in black cabs’ fares as a way to help drivers survive the ongoing economic situation. From 30 April, minimum fares between 5am and 10pm will increase from £3.20 to £3.80, while travellers to Heathrow will see their supplement go up from £2.80 [...]
UK to inject £4bn into shipbuilding for next 30 years March 10, 2022 The UK Government has said it will inject £4bn into the shipbuilding industry to deliver more than 150 vessels over the next 30 years. The funding, which was announced today by Prime Minister Boris Johnson, will unlock tens of thousands of jobs, galvanising shipyards and suppliers across the country. “Shipbuilding has been in our blood [...]
Delta and Air France-KLM challenge MSC and Lufthansa for control of ITA March 10, 2022 Aviation giants Delta Airlines and Air France-KLM are reportedly challenging the MSC and Lufthansa’s bid for Alitalia’s successor ITA Airways. Backed by an international fund, Delta and Air France-KLM have shown their interest in acquiring a majority stake in the newly born Italian carrier, Italian Government sources told newspaper La Repubblica. The joint partnership is [...]
Moscow orders airlines to hold leased planes hostage amid growing sanctions March 10, 2022 The Kremlin today threatened to impound the aircraft leased to Russian airlines, casting doubts over the fate of 780 planes worth a total of $10bn. According to a draft law proposed by the Russian transport ministry, carriers should be required to pay leases in rubles for the whole of 2022, de facto allowing them not [...]
National Express believes Stagecoach offer was ‘compelling’ as results improve March 10, 2022 Mobility giant National Express said its £445m takeover proposal made to Stagecoach was ‘compelling’ after Stagecoach snubbed it in favour of asset manager DWS. “We continue to believe that we made a compelling offer for Stagecoach, providing both sets of shareholders with the opportunity to share in the significant value created from both the material [...]
Higher return rates impact Boohoo’s sales growth March 10, 2022 Boohoo said today its net sales growth in the fourth quarter of FY22 was impacted by Brits’ post-pandemic ‘buy before you try attitude’ . The company explained that the higher rate of items returned was due to changing consumption patterns, as people shifted from buying more ‘athleisure’ during the pandemic to mixing it up with [...]
Balfour Beatty’s results exceed expectations prompting £150m buyback March 10, 2022 Balfour Beatty’s results have exceeded expectations and prompted a £150m share buyback programme, the company said today. In the year ended 31 December, the company’s profits soared 286.3 per cent to £197m, while gains from earnings-based businesses went up to £181m, exceeding analysts’ expectations. “In 2021, despite the challenges presented by Covid-19, we have delivered [...]
