Funding crisis: PM Boris Johnson slams City Hall for creating TfL’s ‘black hole’ December 15, 2021 Prime Minister Boris Johnson has accused London mayor Sadiq Khan of creating Transport for London’s (TfL) financial “black hole.” “What happened is the Labour mayor of London embarked on a reckless unfunded fares policy that left a huge black hole in TfL’s finances,” Johnson said during PMQs. Responding to accusations made by Labour MP Ruth [...]
UK house prices go in reverse as market enters ‘new normal’ December 15, 2021 House prices have entered a ‘new normal’ after dropping 1.1 per cent between the end of the stamp duty holiday in September and October of this year. However, prices are 10.2 per cent higher year on year, marking the third month where annual growth has hit double figures. Year-over-year growth dropped from 12.3 per cent [...]
Global climate tech investment has tripled, but emissions-cutting solutions are overlooked December 15, 2021 Investment into climate tech is booming globally, as venture capital and private equity firms poured $87.5bn into the sector over the twelve months to 30 June 2021 – more than triple the $28.4bn global total reached a year before. Buoyed by dry powder accumulated during the first few months of Covid lockdowns, investment firms focusing [...]
The Night Overground makes a comeback this weekend despite ongoing underground strikes December 14, 2021 Transport for London have announced that Night Overground services between Highbury & Islington and New Cross Gate will return this Friday.
BA restarts Gatwick operations, selling tickets for short-haul subsidiary December 14, 2021 British Airways (BA) announced today it will restart flying from Gatwick from March 2022, selling tickets for 35 destinations that will be part of its short-haul subsidiary British Airways*’s operations. Created to compete with the likes of Easyjet and Ryanair, the subsidiary company will begin to operate as a standalone business from August, with BA [...]
Exclusive: En+ chairman, former minister and MP Lord Barker on running a global energy giant December 14, 2021 The global and metals sectors look back on a number of volatile years. The global downturn, increased regulation and changing investor demands are rapidly transforming the industry. One company at the heart of this ecosystem is LSE-listed En+ Group, the largest producer of low-carbon aluminium globally and the world’s largest hydropower player, with nearly 90,000 [...]
Could global cities be the cause of, and solution to, climate change? December 14, 2021 Homer Simpson once famously said: “here’s to alcohol: the cause of, and solution to, all of life’s problems”. To paraphrase Springfield’s most famous resident, we could say a similar thing about big cities and climate change. Big cities are often seen as part of the problem regarding climate change, responsible for high levels of greenhouse gas [...]
City Hall warns failure to fund TfL will leave £2.1bn hole in Treasury’s finances December 14, 2021 A failure to strike a long-term funding deal for TfL would result in a £12bn hit to the capital’s economy, according to new City Hall analysis.
Travel data: Londoners shrug off work from home order with bus and tube usage falling less than expected December 13, 2021 The number of Londoners still travelling into work appears to have fallen less than expected according to new Transport for London data. Today represents the first day that the Government’s re-instituted work from home order comes into force. Bus usage before 10am this morning fell just six per cent week on week, whilst tube usage [...]
TfL gets a funding extension amid ongoing discussions December 13, 2021 Transport for London announced over the weekend that the Government would extend its funding support until 17 December in light of the ongoing struggle to reach an agreement.