London Heathrow: Passengers will face ‘no cancellations’ during half term strikes May 22, 2023 London Heathrow airport has assured passengers not to worry about upcoming half-term strike action by security officers, stating that “no flights” will be cancelled as a result. The airport said it remained confident of its ability to handle this weeks walk-outs, having delivered “excellent passenger service throughout the previous strike periods,” with most passengers waiting [...]
Harvey Nichols boss warns tourism tax is hurting UK economy May 22, 2023 The boss of Harvey Nichols has warned that the so-called ‘tourism tax,’ created by the scrapping of tax-free shopping in 2021, is having a significant impact on the wider British economy. Chief executive Manju Malhotra told The Times that the tax was affecting not just retailers that benefit from international visitors, but the “entire ecosystem [...]
Ryanair posts record £1.26bn profits – but warns of turbulence with strikes and high fuel prices May 22, 2023 Ryanair posted record profits of $1.57bn (£1.26bn) in its full year results, as it cashed in on rising fares and strong traffic recovery – but warned it may experience turbulence in the near future. The low cost carrier flew a record 168.6m passengers, up 74 per cent, in the year ending March and said that [...]
Plans to shake up British railway network could be watered down as new powers likely delayed May 19, 2023 Plans to shake up the railway network may be watered down as legislation to give powers to a proposed new public sector body could be delayed, it has been reported. Great British Railways (GBR), announced in 2021 by then-prime minister Boris Johnson as a way to simplify the rail network and improve services for passengers, [...]
Fresh strike action announced by RMT as national rail dispute rumbles on May 18, 2023 The RMT has announced fresh strike action this afternoon, with members working for 14 train companies in the national rail dispute set to walk out on Friday 2 June. The union said it found the Rail Delivery Group (RDG)’s previous offer and associated conditions “unacceptable”. Some 20,000 railway workers in catering, train managers and station [...]
Problem with the UK’s automotive sector ‘isn’t to do with Brexit’, says Kemi Badenoch May 18, 2023 Business and trade secretary Kemi Badenoch has said the issue with the UK’s automotive sector “isn’t to do with Brexit”, as Labour pressed the government for an “explicit industrial strategy”. Her comments came as shadow business secretary Jonathan Reynolds warned that the “automotive sector has issued warning cry after warning cry that government policy risks [...]
Why can’t Britain build any infrastructure? Delays, delays, delays… May 18, 2023 Major UK infrastructure projects are taking far longer than they used to despite changes to planning laws, according to a new report authored by consulting group Ankura. Delays to so-called ‘development consent order’ decisions have increased eight-fold since 2016 – despite those orders being in place to turn Britain into an infrastructure powerhouse. DCOs are [...]
Aston Martin share price soars after Chinese car giant Geely doubles stake to 17 per cent May 18, 2023 Aston Martin shares soared by more than 12 per cent this morning after Chinese automotive group Geely said it will increase its shareholding to 17 per cent with an investment of £234m. The investment will see Geely almost double its stake in the marque, becoming its third biggest shareholder, just behind Lawrence Stroll’s Yew Tree [...]
BT share price tumbles as firm announces tens of thousands job cuts May 18, 2023 BT has announced plans to slash its workforce by as much as 42 per cent over the next seven years in a bid to slash costs and become a “leaner business”.
Easyjet’s rising cost base could delay long-awaited share price takeoff May 18, 2023 Easyjet’s dreams of share price take off, caused by a recent uptick in demand, could be held back by soaring fuel costs and inflation as the airline saw group costs increase to £3.1bn this morning. The low cost carrier reported a revenue increase of 80 per cent to £2.7bn in its half year results, but [...]