Vue cuts valuation to £650m after July’s restructuring deal August 7, 2022 Vue International has cut its valuation to £650m following a £1bn restructuring deal announced last month. The UK-headquartered cinema chain said in July it was considering a £1bn takeover from lenders which would see its former majority shareholders ousted, the Sunday Times reported. As part of the takeover, the cinema chain also negotiated its exit [...]
UK ahead of EV adoption curve but charging accessibility lags behind August 4, 2022 The UK is currently ahead of the Climate Change Committee’s electric vehicle (EV) adoption curve by more than 100,000 cars. According to figures by Volkswagen Financial Services UK, there were 833,000 EVs in the UK as of March – up 71 per cent on last year’s levels. At the same time, registrations of battery-electric vehicles [...]
Network Rail platform and ticketing staff join strike on 18 and 20 August August 4, 2022 Platform and ticketing staff working at Network Rail have joined the wave of industrial action and announced they will strike on 18 and 20 August. Members of the union TSSA working as general grades and controllers on the government-owned rail operator will join the walk out at seven other operators – including c2c, Avanti West [...]
Back to black: Lufthansa returns to profit but shaves flight offerings amid travel chaos August 4, 2022 Lufthansa has returned to black, posting an operating profit of €393m (£331m) in the three months to June following a boom in demand for cargo flights. Up from last year’s loss of €827m, the carrier’s adjusted EBIT margin rose to 4.6 per cent while net income went up from a loss of €756m to a [...]
Campaigners challenge mayor’s decision to expand police access to traffic cameras August 4, 2022 Campaigners have launched a legal challenge against London mayor Sadiq Khan over his decision to expand police access to data from traffic cameras. Activists like Green Party London Assembly member Sian Berry called the decision “terrifying”, saying it would increase Londoners’ surveillance and hit ethnic minorities the most. “With human rights under threat from all [...]
Go-Ahead bidders add another £22m to their offer to give takeover of transport giant the final push August 4, 2022 The bidders planning to buy transport operator Go-Ahead Group have upped their offer by more than £20m. Australian bus network Kinetic and Spanish transport firm Globalvia agreed to take over Go-Ahead in June for around £647m. But the consortium of investors raised their takeover bid by £22m to about £669m today despite not having any [...]
Most employers believe four-day working week will be the norm before 2030 August 3, 2022 The majority of employers believe that a four-day working week will become the norm in the UK before 2030. According to a survey conducted by Censuswide on behalf of NatWest Rapid Cash, 78 per cent of employers believe it will happen by the end of the decade while 52 per cent of recruiters said it [...]
‘Junk science’: London Conservatives dispute validity of research on TfL food ad restrictions August 3, 2022 GLA Conservatives have disputed the validity of an independent research on junk food ad restrictions implemented since 2019 on the Transport for London (TfL) network. Published yesterday by the University of Sheffield and the London School of Hygiene & Tropical Medicine, the study argued that the ban has prevented almost 100,000 cases of obesity. It [...]
London City Airport to reach 3 million passenger mark as numbers soar August 3, 2022 London City is on track to reach the 3 million passenger mark at the end of the year as numbers continue to soar. The Newham airport announced today that 640,000 passengers travelled through its gates in June and July while August forecasts expect another 300,000. “We have made a conscious effort with our airlines to [...]
TfL tells union financial recovery at risk if Tube strikes go ahead August 3, 2022 Transport for London (TfL) has called on the union RMT to cancel the Tube strike on 19 August as walking out will only increase the public body’s financial risks. “I need to be really clear with you, that taking further industrial action at this time will do nothing but undermine our negotiations with government and [...]
