Food delivery share prices could ‘meaningfully recover’ next year as firms approach profitability July 27, 2022 While food delivery stocks have experienced turbulence lately, the Royal Bank of Canada said there was potential for shares to “meaningfully recover” as start-ups approach profitability. Former City darlings Deliveroo and Just Eat Takeaway have seen their share prices plummet by some 72 per cent and 77 per cent in the past year, despite blockbuster [...]
40,000 union rail workers walk out as travel chaos continues for Brits July 27, 2022 40,000 rail workers are striking today, as RMT union members at Network Rail and 14 other train companies walk out over pay and job terms.
District, Bakerloo, Elizabeth lines and Overground to be disrupted by tomorrow’s rail strike July 26, 2022 London tube services are set to be impacted by tomorrow’s rail strike – the first of a three-day walk out called by the union RMT over job cuts and salaries. Transport for London (TfL) warned commuters to check before they travel as services on the District, Bakerloo, Elizabeth lines as well as the London Overground [...]
Avert economic damage rail strikes will cause, say London businesses July 25, 2022 London businesses have called on unions, operators and the government to find a solution to the ongoing railway strikes “and avert the economic damage” they will cause. “The week-long rail disruption in June caused footfall in the capital to drop by up to a quarter compared to the previous week,” Ruth Duston – chief executive [...]
Rail operators and freight firms create coalition to transform UK railways July 20, 2022 A consortium of rail and freight operating firms have clubbed together with a prospectus to transform Britain’s railways. The launch of Rail Partners was welcomed by rail minister Wendy Morton, as the industry sets out five key priorities for reform – including the sector’s decarbonisation and the role of Great British Railways moving forward. Made [...]
EV marker Arrival to axe 800 jobs globally due to market volatility July 14, 2022 UK-based electric vehicle (EV) maker Arrival is set to axe 800 jobs globally as it continues to feel the pinch from the ongoing economic volatility. Approached by City AM, Arrival declined to comment on the number of UK workers that would be impacted as the company’s employees are scattered mainly across Britain, the US and [...]
Sorry again: Uber apologises for secretly courting Emmanuel Macron in European lobbying push July 10, 2022 Uber have been forced to apologise once again after leaked files reveal that the ride-hailing giant courted top politicians to push its $90m-a-year lobbying and public relations efforts. The Uber Files, which contain 124,000 records from 2013 to 2017, show how the firm recruited political big dogs, including French President Emmanuel Macron and ex-EU commissioner Neelie Kroes, [...]
Black cab drivers file legal challenge against ride-hailing app over claims business model is illegal July 7, 2022 A black cab drivers trade body has filed a legal challenge against ride-hailing app Free Now, over claims the taxi firm’s business model is illegal. The hackney carriage driver’s trade body, United Trade Action Group (UTAG), is seeking to argue that ride-hailing apps that lets customers hail private hire taxis are acting illegally. The body [...]
A summer of discontent is the unions’ fight for power in the modern workforce June 23, 2022 This week, London was awash with bikes and e-scooters as the biggest rail strikes in thirty years kicked off on Tuesday. Other unions were watching closely as they plan for their own industrial action. Some are calling it the summer of discontent, as a waterfall of job losses and long hours stir up a storm [...]
‘Kremlin will be enjoying this self-inflicted distraction. Don’t be Russia’s friend’, Tobias Ellwood urges train strikers June 22, 2022 Former defence minister Tobias Ellwood has warned striking rail union workers not to be “Putin’s friend”. The former soldier and Tory MP for Bournemouth East said the Kremlin would be “enjoying this self-inflicted distraction” from its war against Ukraine. This comes after thousands of rail workers walked out across the country on Tuesday, with two [...]