Virgin Atlantic to raise £400m to survive the winter November 21, 2021 UK carrier Virgin Atlantic is in talks with its shareholders regarding the possibility to raise a further £400m to help the airline face winter months. Sources said that, while the amount was still being finalised and will be announced by the end of the year, it is expected that Virgin Atlantic’s owner Sir Richard Branson [...]
Former Chancellor predicts PM will U-turn on HS2 cuts November 21, 2021 Former Chancellor George Osborne has predicted Prime Minister Boris Johnson will make a U-turn on the government’s decision to cut HS2’s eastern leg. Talking to the Financial Times’ Payne’s Politics podcast, Osborne – who was Chancellor from 2010 to 2015 during David Cameron’s government – labelled the decision to scale back on HS2 as “pretty [...]
Shipping crisis could push global inflation up, UN warns November 18, 2021 The current global shipping crisis could push global inflation rates up 1.5 per cent, hindering the economic recovery. A UN conference on trade and development (UNCTAD) report published today highlighted how the increased costs in container shipping have become a main issue for small suppliers, usually less equipped for absorbing additional expenses. If the current [...]
Brits have worst delivery experience, research says November 18, 2021 British consumers have a worse delivery experience compared with their counterparts in the US and Europe, even though the supply chain crisis is affecting the whole world. Research from operations experience platform Parcellab has revealed that 39 per cent of UK consumers claim to have placed an order that never arrived, compared with 18 per [...]
Railway industry says HS2 cuts will hinder net zero and levelling up agenda November 18, 2021 Railway industry stakeholders have hit back against the government’s decision to cut the eastern leg of HS2, which was initially planned to connect Birmingham and Leeds. Speaking at Commons, Shapps argued that the changes made to the £100bn Integrated Rail Plan (IRP) “will bring benefits at least a decade or more earlier” and that they [...]
EV premiums tumble by £97, research says November 18, 2021 Insurance rates for electric vehicles (EV) have gone down by £97, from £753 to £656, while premiums for petrol and diesel slumped by £82 to £622 in the third quarter of 2021. Research from price comparison website Comparethemarket has revealed that, despite the decline, the average annual insurance for EV is still £33 more expensive [...]
Jet2’s operating losses go up due to customer anxiety November 18, 2021 UK low-cost carrier Jet2 registered a 53 per cent increase in operating loss as a result of the Covid-19 air travel restrictions and consequent customer anxiety. In its half year results, the airline’s losses went up to £170.4m, compared with £111.2m registered in 2020, while the group’s loss before foreign exchange revaluation and taxation increased [...]
Brits positive about autonomous vehicles’ benefits, BSI reveals November 18, 2021 Brits are confident that self-driving cars will bring many benefits such safety gains, a BSI opinion poll revealed. Out of 1,000 people interviewed, 70 per cent see the benefits of autonomous cars, in particular when it comes to avoiding driver errors and reducing accidents, with people aged between 18 and 24 the most inclined to [...]
Flybe to return next year, 20 months after collapse November 17, 2021 Failed UK airline Flybe is set to return to operating early next year, choosing Birmingham Airport as its new headquarters. The airline stated the move is expected to created around 200 new jobs in the Birmingham and West Midlands area over the next three years. “It was an ideal choice for us due to its [...]
UK costs of shipping higher than mainland Europe, research reveals November 17, 2021 The cost of shipping to the UK is 24.2 per cent higher compared with mainland Europe, as a result of the supply chain crisis. Research from global trade management firm ManSys has revealed that Europe’s three most expensive ports for a 20-foot container ship are Liverpool, with a £9,112 rate, followed by Southampton and London, [...]
