Kremlin approves sale of Volkswagen’s Russian assets for nearly £110m May 16, 2023 Russia’s government has approved a deal for Volkswagen to sell its Russian assets to autodealer group Avilon for up to $137.6m (£108.64), the Interfax news agency reported on Tuesday, citing a source. Should Volkswagen extract money from Russia while exiting, it would buck the trend of other major automakers, most of which have sold their assets [...]
CMA to probe if ‘failure in competition’ is seeing consumers overcharged for food and fuel May 15, 2023 The Competition and Markets Authority (CMA) today announced it will investigate whether a “failure in competition” is seeing consumers overcharged for groceries and fuel. The watchdog said it would be stepping up its work in the grocery sector to determine whether a “failure in competition is contributing to grocery prices being higher than they would [...]
Travelodge hits record profits as staycation breaks continue post-pandemic May 15, 2023 Travelodge, the UK’s largest independent hotel brand, has reported results significantly ahead of its previous record year in 2019, as Brits continued to opt for staycation breaks and business travel. The London-listed hotel company, which offers cheap beds in the UK Spain and Ireland said that revenues were up 25 per cent from 2019 to [...]
Gatwick Airport grounds flights and shuts runway amid drone reports May 14, 2023 Incoming flights were suspended at Gatwick Airport for nearly an hour after reports of a drone near the airfield. It said 12 incoming flights had to be diverted to other airports because of the alert on Sunday. The airport previously cancelled or diverted around 1,000 flights between December 19-21 2018 because of drone reports. No [...]
Easyjet hopes for further profit boost as summer holiday bookings lift sector May 14, 2023 Easyjet is anticipating higher profit when it reports its half year results on Thursday, as the airline looks to benefit from the return of summer holiday bookings and higher ticket prices. The low cost carrier said that it expects to exceed full year profit expectations of £260m, with half year losses forecast to shrink to [...]
Ferrari won’t phase out combustion engines despite EV push May 14, 2023 Ferrari has said that it plans to keep building normal car engines despite regulatory pressure to boost electric car production, arguing it was up to customers to choose whether they buy electric or not. The Italian car manufacturer plans to keep building internal combustion engines (ICEs) well into the 2030s, while also scaling up its [...]
Stansted: London airport reports busiest day of the year as Coronation boosts traffic to 2.4m May 12, 2023 London Stansted saw its busiest month since September as 2.4m passengers passed through over April, up 16 per cent on the previous year, with Coronation guests boosting traffic. The airport also registered its busiest day of the year, seeing 87,000 guests pass through the terminal on Easter Monday. April saw the royal ceremony bolster a [...]
Rail strikes this weekend: All you need to know – how will London be affected? May 12, 2023 Train services are being hit by more strike action this weekend, with London set to be hit by industrial action on routes to major airports and transport hubs. Members of Aslef and the Rail, Maritime and Transport union (RMT) at train operators will walk out in long-running disputes on Friday and Saturday respectively. Further strikes [...]
Rail strikes: Walk out today to cripple services across UK disrupting Eurovision celebrations May 12, 2023 Rail passengers face fresh travel disruption over the next few days because of strikes by train drivers and other workers in long-running disputes over pay. Members of the drivers’ union Aslef will walk out on Friday at more than a dozen train operators, crippling services across the country. Further strikes will be held on May [...]
Heathrow vs airlines – dispute continues as parties given permission to appeal price cap May 11, 2023 Heathrow Airport and three major airlines have been granted permission to appeal the Civil Aviation Authority (CAA)’s decision on the Heathrow price cap this afternoon. The airlines, which are Virgin Atlantic, British Airways and Delta Air Lines, have been locked in a fierce dispute with Heathrow over the amount the airport can charge per passenger. [...]