TfL finances battered by £100m drop in advertising revenue July 5, 2021 Transport for London (TfL) has suffered a record £100m plunge in advertising revenue across its network after Covid restrictions prevented people using its services. The fall in ad revenues is the latest pandemic hit for TfL, which derives the vast majority of its revenue from fares, and has been bailed out to the tune of [...]
One-in-four UK financial services workers want to work from home full-time, says new survey July 5, 2021 Almost one-in-four of the UK’s financial services workforce wants to work at home permanently post-pandemic, according to a new survey from Accenture. The survey found 24 per cent of the country’s 1m financial services workers “would prefer to work entirely from home once a full return to office is possible”, while 69 per cent said [...]
TfL must be ‘realistic’ on mega-projects, says deputy mayor, as wait for long-term funding deal goes on July 3, 2021 Heidi Alexander has a lot on her plate. In normal times, overseeing London’s transport network as Sadiq Khan’s deputy mayor for the sector would be quite the job, what with keeping the capital’s commuters happy while delivering huge infrastructure projects like Crossrail. And that is before the pandemic left TfL operating on a shoestring budget, [...]
Ride-hailing firms have ‘moral imperative’ to give drivers’ workers rights, says Heidi Alexander July 2, 2021 London’s deputy mayor for transport has said that ride-hailing firms have a “moral imperative” to offer their drivers basic workers’ rights. Speaking to City A.M., Heidi Alexander said that City Hall would like to see minicab operators like Bolt and Ola adapt their business models to embrace the Supreme Court’s historic judgement on Uber. Her [...]
City of London Corporation unveils plans for startup hub at City Place House July 1, 2021 The City of London Corporation this morning announced it has resolved to grant planning permission for Great Portland Estates’ redevelopment of City Place House into a 13-storey office structure that will include affordable space for small businesses and startups. The redevelopment, which will be overseen by Great Portland Estates, will be redeveloped into a 44,500 [...]
TfL under fire over ‘hidden subsidies’ for Uber Thames Clipper services June 30, 2021 Transport for London (TfL) is tonight under pressure after a complaint was lodged with the Competition and Markets Authority (CMA) over “hidden subsidies” for the Uber Thames Clipper ferry service. Romford MP Andrew Rosindell and London Assembly Member Keith Prince have written to the CMA saying that the firm is being given “an unfair and [...]
Stagecoach scraps dividend as pandemic hits bus services June 30, 2021 Stagecoach has scrapped its dividend for the full year after Covid lockdowns sparked a sharp fall in revenue and profit. The Scottish transport group posted revenue of £928m in the year to May, down from £1.4bn in the previous 12 months. Pre-tax profit dropped 40 per cent to £24.7m, though this was ahead of market [...]
800,000 London jobs could be done elsewhere post-Covid June 29, 2021 Around two out of five people living and working in inner London could continue their roles remotely after the pandemic, according to new research. London risks losing more than 835,000 jobs as the pandemic sparks a permanent shift to more flexible working patterns, and city dwellers are able to move out of the capital to [...]
LIVE: Blaze in Elephant & Castle under control, roads in area reopened June 28, 2021 Station commander James Ryan just told City A.M. the huge fire at Elephant & Castle train station is under control, nearly four hours after it started. Dozens of police and ambulance crews were still on the scene at 7.15pm this evening. The cause of the fire is unknown and is being investigated, he added. The [...]
Covid update: ‘Stronger border’ could have curbed Delta variant in UK June 27, 2021 A leading government coronavirus adviser said that the Delta Covid variant could have been stopped in its tracks if the UK had enforced stricter border measures. The chair of the UK’s advisory group for new and emerging respiratory virus threats (Netvag) said that “stronger border measures may have delayed […] even have prevented” the Delta [...]