Exclusive: £18bn bill to upgrade to London’s energy inefficient homes November 16, 2022 Upgrading London’s leaky homes will come with a price tag of a mere £18bn, amid industry and consumer calls to improve the energy efficiency of the UK’s housing stock. More than 2m homes in the capital have an energy performance certificate (EPC) rating of D or below, meaning that it will cost just over £18.5bn [...]
Musk defends $56bn Tesla pay package saying he was focusing on the company’s execution November 16, 2022 Elon Musk took the stand to defend his $56bn (£47.7m) Tesla pay package from 2018, saying the EV maker was his sole focus at the time. “I was entirely focused on the execution of the company,” he told a US tribunal on Wednesday. Musk was taken to court by a company shareholder who accused the [...]
Air France-KLM’s shares plummet as £260m+ bond issuance takes off November 16, 2022 The shares of Air France-KLM have sunk as low as 12 per cent after the carrier issued €300m (£262.5m) worth of bonds convertible into shares. Air France-KLM said the move would help it strengthen its capital and pay back the financial aid it received from the French government to stay afloat during the pandemic. Funding [...]
Going cold: Mercedes follows in Tesla’s footsteps and cuts EV prices in China November 16, 2022 Mercedes has followed in Tesla’s footsteps and cut the price of its electric vehicle (EV) models in China due to a slowing demand. The luxury car maker announced late on Tuesday the price of the EQE electric SUV would be cut by 9 per cent while the EQS model would be between 11 and 22 [...]
TfL looks for bidders to take over £800m fare system contract November 16, 2022 TfL has launched a procurement process for the maintenance and operation of its fare system. Worth more than £800m, the seven-year agreement will start in August 2026 after the current contract, signed in 2014 by IT service manager Cubic Transportation Systems, expires. The new contract could be extended by a further five years, for a [...]
Oil firms dish out dividends as energy crisis sends profits soaring November 16, 2022 Oil firms have been dishing out bumper sums to shareholders as a crisis in the energy sector drives profits to record levels, according to research released today.
Thomas Cook hits back after rumours over Chinese owner selling its stake November 15, 2022 Thomas Cook has pushed back against reports that its Chinese owner Fosun Tourism Group was looking to sell its stake in the company. “Fosun Tourism Group has no plans to sell Thomas Cook,” a Thomas Cook spokesperson told Morning Wire Sources today told Sky News’ Mark Kleinman that the Chinese powerhouse was contemplating either raising [...]
Biometric, baby! BA passengers to Malaga no longer need to show passport November 15, 2022 British Airways’ passengers departing from Heathrow’s terminal 5 to Malaga will no longer be required to show their passport. BA has become the first UK airline to trial the use of biometric technology, allowing passengers to register their details – including face scan, passport and boarding pass information – ahead of travel. On arrival, travellers [...]
Great British Railways’ creation to take place before next election November 15, 2022 The creation of new rail body Great British Railways continues to drag on, as the legislation will now be tabled before the next general election. Just last month then-transport secretary Anne Marie Trevelyan said GBR would be postponed to the next parliamentary session as the current energy and financial crisis took over the government’s agenda. [...]
UK well ahead of EV adoption curve but charging concerns threaten uptake November 15, 2022 The UK remains well ahead of the Climate Change Committee’s electric vehicle (EV) adoption curve but charging concerns threaten future uptake. Data published today by Volkswagen Financial Services UK showed that the UK is ahead by more than 150,000 units when it comes to the rate at which EV adoption must increase for the UK [...]