Uber launches in Hong Kong as global expansion gathers pace July 17, 2014 Uber launched its service in Hong Kong yesterday, as the mobile app for hailing private hire cars continued its fast global expansion to cover 150 cities in 41 countries. The official launch in Hong Kong comes after a successful four-week trial period, and follows the recent launch of its Beijing service. Uber is now available [...]
Royal Mail may face fine as French antitrust investigation gets underway July 16, 2014 Royal Mail yesterday announced it might face a significant fine, as its European parcel delivery subsidiary General Logistics Systems (GLS) is being targeted by the French competition authority as part of a widespread antitrust investigation. Other parcel delivery companies, including FedEx, TNT Express, Deutsche Post’s DHL Express France SAS service and La Poste’s Exapaq and [...]
FCA hits payday loan companies with strict caps July 16, 2014 The payday loans industry is expecting to see revenue shrink by 42 per cent if new caps on interest proposed by the Financial Conduct Authority (FCA) come into force. The FCA said it estimated firms would lose £420m annually as a result of its proposals to cap interests on loans at 0.8 per cent per [...]
Farnborough International Airshow sales go on but F-35 is barred from flying July 16, 2014 The second day of the Farnborough International Airshow saw further multi-billion sales. But there was bad news as the Pentagon ruled out flying over the F-35 to the show. Airbus continued to pull in deals, as Dublin-based SMBC Aviation Capital ordered 115 A320 planes, worth about $11.8bn (£6.9bn), and BOC aviation, the Singapore based leasing [...]
Stansted ups profits for owner Manchester Airport Group July 16, 2014 Manchester Airport Group (MAG) lifted earnings by 2.8 per cent to £242m in the last financial year, with the group benefitting from improving trends at Stansted Airport, which it acquired in February 2013. Passenger numbers were up 4.3 per cent at MAG airports to 43.8m, with Stansted seeing positive increases in passenger numbers after years [...]
Deals take off at start of Farnborough International Airshow July 14, 2014 The first day of the Farnborough International Airshow kicked off with a wide array of deals, with rivals Airbus and Boeing stacking up orders as they pushed the next generation of commercial airliners. Airbus announced the launch of its upgraded A330neo, with a deal arranged with Rolls Royce to provide its Trent 7000 [...]
David Cameron announces £1.1bn boost for armed forces July 14, 2014 THE PRIME Minister yesterday said the government will invest £1.1bn in the military to fight modern threats to the UK. The investment will see £800m devoted to a enhanced intelligence package, to provide greater options for special forces to respond to global terror threats in particular. In addition £300m will be spent to provide a [...]
Russia snub at the show July 14, 2014 THE RUSSIAN deputy Prime Minister suggested members of the Russian delegation at the Farnborough Airshow should leave, after the UK government did not offer invitations to Russian delegates. Dmitry Rogozin tweeted: “I suggest that our delegation halts participation in the Expo and goes back home.” He was responding to the fact that some Russian delegates [...]
Spaceport to be announced July 14, 2014 PLANS for the location of a new spaceport are expected to be announced at the Farnborough Airshow, to provide for satellite launches and commercial space flight operations. Eight locations are likely candidates for the proposed spaceport, with six in Scotland, one in Wales and one in Cornwall. The spaceport could provide for space tourism operators [...]
From Gaucho to Heron Tower, London says auf Wiedersehen to World Cup July 14, 2014 While England’s World Cup hopes may have ended weeks ago with yet another disappointment, last night the financial capital of Europe was still buzzing with the energy of rival fans from two of football’s most successful nations, as they watched their teams battle it out for glory for a third time in a World [...]
