Heatwave travel disruption: Train speed limits amid track buckling and increase in car breakdowns July 13, 2022 Network Rail has announced it will set a speed limit on trains amid the possibility of tracks buckling due to soaring soaring temperatures. The government-owned train operator explained that steel tracks are usually 20 degrees hotter compared with atmospheric temperatures. When air temperatures reach 30 degrees tracks could go up to 50 degrees, causing them [...]
GetBusy increases full year guidance despite market volatilities July 13, 2022 GetBusy has increased its revenue guidance for the full year to £18.4m despite current market volatilities. In the six months ended 30 June, the productivity software provider posted a 21 per cent increase in its annual recurring revenue to £18m, while recurring revenue went up 19 per cent to £8.5m. Following a loss of £472,000 [...]
AerCap sues AIG for $3.5bn over aircraft lost in Russia July 12, 2022 AerCap, the world’s largest aircraft lessor, has recently sued AIG and other insurers following a $3.5bn all-risk claim filed in March over aircraft lost in Russia. The company argued in the UK’s High Court that insurers owed AerCap the amount as part of the “all risk” insurance policy it adopted. According to the Dublin-based company, [...]
Plan to replace striking workers with agency staff branded ‘unethical and morally reprehensible’ by RMT July 12, 2022 The RMT trade union has condemned plans backed by MPs which would allow striking workers to be replaced with agency staff. The measure was voted in Commons on Monday night by a majority of 87 votes, 289 to 202, with the union’s general secretary Mick Lynch calling it “unethical and morally reprehensible”. According to the [...]
Airlines to stop selling tickets as Heathrow puts 100,000 daily passenger cap July 12, 2022 Heathrow has asked airlines to stop selling summer tickets, as it was forced to cap the number of daily passengers to deal with travel mayhem. The airport’s cap – introduced from today until 11 September – will amount to 100,000 departing passengers per day. Commenting on the decision, aviation analyst Sally Gethin told City A.M.: [...]
TfL to open first new Overground stop since 2015 July 12, 2022 Transport for London (TfL) will open its first new Overground stop since 2015 on Monday. The 4.5km Barking Riverside extension will connect the area’s new developments to Barking city centre in seven minutes, drastically improving commuting times. A total of four trains per hour will operate along the line, connecting the riverside to the District [...]
Totally posts record growth, exceeding market expectations July 12, 2022 Frontline healthcare provider Totally has posted a record growth this past year, exceeding market expectations. Following the pandemic’s impact, in the year ended 31 March Totally’s profits before tax increased by 1,200 per cent to £1.3m, while EBITDA went up 24 per cent to £6.2m. Revenues also shot up 12 per cent to £127.4m, while [...]
Exclusive: Lime sets eyes on future US IPO, but timeline still unclear July 12, 2022 US electric bike and scooter company Lime continues to have its eyes set on becoming a public listed company, but London looks set to miss out on the float. “We are always working to be in a position in which we would be ready,” Lime’s president Joe Kraus told City A.M. during an exclusive interview. [...]
Railway ticket office and platform staff vote to back strike action at Southeastern and Network Rail July 11, 2022 Ticket office and railway platform staff working for Southeastern and Network Rail have voted in favour of industrial action, in ballots by the TSSA union. According to the union, which announced the ballot’s result today, 73.9 per cent of Southeastern members balloted voted in favour of walking out while 85.1 per cent said yes to [...]
Train drivers at eight railway firms vote in favour of industrial action July 11, 2022 Train drivers will join the wave of industrial action that has brought the country to a standstill as members of the union Aslef at eight operators have voted in favour of industrial action. No dates have been announced yet, but if it were to go ahead, the industrial action will hit services on Chiltern, GWR, LNER, [...]
