Third day of rail disruption at Paddington as cable issues persist September 21, 2022 Rail disruption at Paddington has continued today as engineers tackle the cable damage that prevented thousands from attending the Queen’s funeral on Monday. National Rail said that a few lines between Paddington and Hayes & Harlington were blocked because of the damage from the previous days, with services to Reading risking cancellation and delays. Disruption [...]
French titan Schneider snatches Aveva in £9.5bn deal September 21, 2022 French industrial giant Schneider has snatched London-listed software developer Aveva in a £9.5bn deal. Schneider already owns a majority stake in the Cambridge developer as in 2017 it acquired 60 per cent of Aveva for £3bn. The £31 per-share deal, which implies an enterprise value of £10.2bn, was announced today by the companies. The offer [...]
Investors back Sorrell’s aggressive growth for S4 Capital despite heavy losses September 21, 2022 Sir Martin Sorrell’s S4 Capital felt the bite of its own aggressive hiring strategy this morning, with losses more quadrupling in the first half of the year to £75.4m. The loss included £100m of primarily combination payments, some linked to “continued employment”, and the associated expense and amortisation totalling £93.9m versus £41.6m in the first [...]
Musk: Starlink will lobby for exemption to operate in Iran amidst sanctions September 20, 2022 Starlink will lobby for an exemption to operate in Iran despite the current sanctions, according to the network’s owner Elon Musk. He didn’t specify on Monday night who or which legal authority he planned to lobby to. The comments came night after he tweeted that the service was now active on “all continents, including Antarctica.” [...]
Further rail strikes to take place on 1 October September 20, 2022 Further rail strikes are set to take place on 1 October, as workers at 14 train operators will walk out in a dispute over job security, pay and conditions. The union RMT said the walkout will bring the country’s network to “an effective standstill,” especially as it takes place ahead of the Conservative Party conference [...]
Rolls-Royce: Automotive veteran appointed to head subsidiary September 20, 2022 Automotive veteran Jorg Stratmann has been appointed as boss of Rolls-Royce’s subsidiary firm, Power Systems. Stratmann, who stepped down as chief executive of automotive supplier Mahle last year, will join the engine maker on 15 November. The automotive veteran will report to the wider group’s boss Warren East until the end of the year, when [...]
Govt looks at ‘business case’ for Channel 4 privatisation and scrapping BBC licence fee September 20, 2022 The UK Government is currently reconsidering its plan to privatise Channel 4 as well as scrapping the BBC licence fee. Culture secretary Michelle Donelan said she was currently “looking at the business case” for the sale of the state-owned broadcaster. “I’m the type of politician that bases their decisions on evidence, that bases their decisions [...]
Services resume at Paddington following 27-hour halt September 20, 2022 Services to and from Paddington station have finally resumed following a 27-hour halt which disrupted thousands of people mourning Her Majesty the Queen. Network Rail – whose services between Paddington and Reading stopped working early on Monday morning due to faulty electric wires – said trains resumed around 9.30am. The station closed again at 10 [...]
IEA calls for global ban on petrol and diesel car sales by 2035 September 20, 2022 The International Energy Agency (IEA) has called for a global ban on the sale of petrol and diesel cars by 2035. In a report published today, the intergovernmental agency said that global progress on the transition to net-zero transport is falling short of Paris Agreement targets. The study revealed that electric vehicles need to increase [...]
Package holidays boom shows no sign of abating as Tui enjoys surge in bookings September 20, 2022 The post-pandemic boom in package holidays shows no sign of abating as giants such as Tui continue to enjoy high levels of bookings. The German operator said in a trading update published on Tuesday it would stick to its profitability forecasts following an uptick in summer and winter reservations. TUI saw a travel revival this [...]
