‘No-fly zones’ around airport runways extended following Gatwick and Heathrow drone chaos February 20, 2019 Drones and similar model aircraft will be banned from flying within a five kilometre radius from airport runways following the havoc they wreaked at the Gatwick and Heathrow runways last year. The extended "no-fly zone" for drones and similar aircraft has been extended from one kilometre to five kilometres following recent episodes of disruption. Over [...]
US airline Mesa leads last-minute Flybe rescue offer in blow to Virgin February 19, 2019 Arizona-based airline Mesa has tabled a £65m rescue deal for struggling airline Flybe in a dramatic move that could derail a takeover bid led by Virgin Atlantic. City A.M. understands Mesa is leading a consortium of investors that offered an injection of new equity at a Flybe board meeting today in a bid to save [...]
UK bags Europe’s M&A top spot with $247bn of deals in 2018 as TMT mergers grow February 19, 2019 The UK enjoyed the highest value of M&A deals in Europe last year as telecoms and media takeovers spiked. High value purchases like Comcast’s $39bn purchase of Sky pushed mergers involving UK companies to $247bn in 2018, data compiled by law firm Clifford Chance found. Read more: Watchdog delays final report on Sainsbury's-Asda merger Both domestic and [...]
Nearly half of commuters think air taxis would solve transport problems in cities February 19, 2019 The public is turning more to the idea of air taxis to help alleviate congestion and air pollution on Britain's roads, new research reveals. Research carried out by aviation events organisation Revolution.Aero found that 43 per cent of those surveyed would support the introduction of air taxis to reduce transport problems in UK cities. Read more: [...]
Honda to close Swindon factory in ‘devastating’ blow to Britain’s car industry, putting 3,500 jobs at risk February 18, 2019 Honda is gearing up to announce the closure of its Swindon factory, plunging 3,500 jobs into uncertainty, according to a local MP. The Japanese car manufacturer will close its only factory in the EU in 2022, delivering a serious blow to Britain’s already ailing car manufacturing industry. The decision was first reported by Sky News. [...]
Google and Salesforce inject $75m into London’s Gocardless February 18, 2019 City fintech firm Gocardless has raised $75m (£58.1m) in a series E funding round, led by new investors Adam Street Partners and the venture capital arms of Google and Salesforce. The company aims to fix the way businesses collect invoices and make recurring payments by building debit technology on top of the world’s existing banking systems. Chief [...]
Labour MPs expected to resign today over divisions on Brexit and antisemitism February 18, 2019 Rumblings of a Labour party split look set to reach a head as sources told the media the disaffected MPs would resign today. Senior party sources told the BBC that the leadership was expecting a handful to resignations while Sky News said the group would make a statement later this morning on "the future of British politics". Those [...]
“It’s our goal to make the competition better” – Alfa Romeo positive upon return to Formula One February 17, 2019 This season Alfa Romeo will complete a return to Formula One by taking over the Sauber name, having been involved as the team's title sponsor last year. That marked the Italian marque’s first F1 involvement since 1985 after a long hiatus from motorsport's elite championship, but this latest move revives the works entry team that [...]
Sir Richard Branson looking for additional investment in Virgin space ventures February 16, 2019 Sir Richard Branson has hired corporate finance firm LionTree Advisors to help raise hundreds of millions of pounds to invest in Virgin Galactic and Virgin Orbit, according to Sky News. It comes months after Branson halted a $1bn (£775m) Saudi-funded deal amid the political tension over Jamal Khashoggi's murder. Discussions are already under way with a number of potential investors, including [...]
LK Bennett founder weighs up future options February 15, 2019 Upmarket women’s footwear retailer LK Bennett has reportedly hired advisers to conduct a strategic review of the business, in a move that could potentially lead to the firm being sold. Founder Linda Bennett, who bought back the business in 2017, has drafted in consultancy firm AlixPartners to weigh up the firm’s future options, according to [...]