What impact is “greenflation” having on commodities? March 24, 2022 Under-investment in the supply of commodities across energy, metals and agriculture, as a result of policies to mitigate climate change, is limiting supply growth and driving prices higher. Commodities outperformed bonds and equities for the first time in almost a decade in 2021. Even before the Russian invasion of Ukraine, these trends looked set to [...]
TfL: Northern Line’s Bank branch should be up and running ahead of May reopening of station March 24, 2022 Transport for London (TfL) announced today that works on the Northern line’s Bank branch were on time for the line’s reopening in mid-May. Part of the Bank Station Capacity Upgrade project, the works aim to increase capacity at Bank and Monument stations by 40 per cent. “We are on track, we had few good progress [...]
Rail regulator launches prosecution into TfL and TOL over 2016 Croydon crash March 24, 2022 The Office of Rail and Road (ORR) announced today it was prosecuting Transport for London (TfL) and Tram Operations Limited (TOL) over their involvement in the 2016 Croydon tram derailment. The railway regulator said its prosecution will allege both TfL and Tram Operations Limited (TOL) breached health and safety law, as they failed to ensure [...]
P&O ‘chose’ to break the law by firing 800 people, company boss says March 24, 2022 P&O Ferries’ chief executive has admitted the ferry operator broke the law by failing to consult employees and unions before sacking 800 people. Peter Hebblethwaite told MPs there was “absolutely no doubt” P&O broke UK employment laws, as he admitted the ferry firm “chose not to consult” employees and unions. “We chose not to consult [...]
Uber lists New York cabs on app as driver shortage continues March 24, 2022 Uber agreed a mega deal to list all New York City taxis on its app this morning, helping address the shortage of drivers in the city and buffering taxi usage. The agreement was announced by Creative Mobile Technologies, which makes apps for the city’s yellow cabs, and Curb, a ride-hailing app for licensed taxi and [...]
Share price jump: Eurowag revenue jumps more than third but profits trail behind March 24, 2022 Pan-European payments platform Eurowag has enjoyed a revenue bump of more than a third in the past year, though pre-tax profits trail behind. The transport-focussed platform, which raised €200m (£171m) in its initial public offering (IPO) in London last year, snagged €1.6bn (£1.3bn) in revenue in the 12 months to 31 December. The climbing [...]
EXCLUSIVE: London bus firm RATP expands electric fleet with HSBC £30m funding March 23, 2022 London bus firm RATP Dev Transit London announced today it has secured a £30m green package from HSBC to expand its electric bus fleet. As a result of the funding, the company – who owns London bus companies London Sovereign, London Transit and London United – will acquire an additional 75 electric buses, including 54 [...]
Will the world economy avoid an inflationary bust? March 23, 2022 Today’s high inflation is being compared to the 1970s. However, robust consumer spending, fuelled by pandemic savings, makes for a different set of circumstances. Memories of the 1970s were evoked as the price of Brent crude oil temporarily climbed above $139 a barrel in the wake of Russia’s invasion of Ukraine. That was a period [...]
Mayor of London Sadiq Khan issues high air pollution alert for today and tomorrow March 23, 2022 The Mayor of London has triggered a ‘high’ air pollution alert for today and tomorrow as London experiences imported pollution from the continent alongside a build-up of local emissions, Sadiq Khan’s office said in a statement. This is the first ‘high’ pollution alert that the Mayor has issued since August 2020. ”Toxic air is extremely dangerous [...]
Exclusive: Jobs in London’s £30bn green sector to double by 2030 March 23, 2022 The number of green jobs in central London is expected to double by the end of the decade – and double again by 2050 – according to research shared exclusively with City A.M. today. The green sector, which generated around £29bn in 2021, will host 335,000 jobs in the capital by 2030, research by Central [...]