Councils call on Gov to deliver Bakerloo line extension to avoid £6.4bn output loss September 29, 2022 Southwark and Lewisham councils have called on the government to deliver the Bakerloo line’s extension, if ministers want to avoid £6.4bn in lost economic output. “London is the beating heart of the British economy and the Bakerloo Line extension is vital to Lewisham and London’s continued growth,” said Lewisham’s mayor Damien Egan. “It is a [...]
Porsche shares climb following €75bn IPO September 29, 2022 Posche’s stocks made a strong start on Thursday, climbing as high as 5 per cent following the luxury car maker’s €75bn (£67bn) Frankfurt IPO. Shares increased from an issue price of €82.50 to €86.78 by mid-morning before closing at €82.74. Chief executive Oliver Blume said the company was “very positive about the first price.” “Of [...]
Port of Dover chief warns post-Brexit checks will be detrimental to UK trade and travel September 29, 2022 The Port of Dover’s chief executive has warned that post-Brexit biometric controls will be detrimental to the UK’s trade and travel, as they will significantly increase border delays. “If we are forced to commit to an inadequate process it will have a rapid and significant detriment on trade,” chief executive Doug Bannister said. Dover is [...]
Summer of discontent: Lost working days surge up to 78 per cent amid strikes September 29, 2022 The number of working days lost has increased amid the summer of discontent, according to data published today. Figures from the Office for National Statistics (ONS) reported that lost working days amounted to 70,500 and 87,6000 in June and July respectively – up 72 and 78 per cent on the 2019 monthly average of 19,500. [...]
UK automotive recovery threatened by soaring costs September 29, 2022 Despite reporting the fourth consecutive month of growth, the UK’s automotive recovery is threatened by increasing costs. Figures released today by the Society of Motor Manufacturers and Traders (SMMT) revealed that 49,901 units were built in August – 34 per cent up year-on-year but 45.9 per cent down on pre-pandemic levels. Overall output remains 13.3 [...]
Pendragon suitor Hedin could consider withdrawing £400m bid if approached by 35p or above offer September 28, 2022 Pendragon’s suitor and majority stakeholder Hedin could consider withdrawing its £400m bid if approached by an offer of 35p per Pendragon share or above. This comes as Pendragon announced on Tuesday a review of its strategic options to maximise shareholder value. The Swedish group – which owns a 26 per cent share in the company [...]
Post-Brexit Eurostar capacity down 30 per cent due to more border checks September 28, 2022 Eurostar’s peak capacity at London St Pancras station is down 30 per cent as a result of post-Brexit checks. Chief executive Jacques Damas said that additional checks caused a “significant increase in processing times,” therefore reducing the number of people processed at peak times. Damas will step down after two years at the company’s helm [...]
Elizabeth line: Bond Street station to open on 24 October September 28, 2022 Bond Street’s Elizabeth line station will open on 24 October following a five-month delay, Transport for London (TfL) has announced. The step-free station will accommodate 140,000 daily passengers, relieving congestion from Oxford Street and giving a boost to the capital’s fashion district. Trains will initially run every five minutes, with no services taking place on [...]
Jaguar Land Rover to retrain 29,000 workers for EV transition September 28, 2022 Jaguar Land Rover (JLR) will retrain 60 per cent of its workforce for electric vehicle production as the luxury car maker presses the accelerator on its EV transition. Technicians as well as automotive engineers and production employees will be retrained to develop and maintain electric cars. JLR announced on Wednesday that, while Future Skills is [...]
Weekend exclusive: Rail sees popularity boost as City travellers avoid ‘travel dead time’ September 27, 2022 Rail is experiencing a boost in popularity among City and business travellers seeking to avoid so-called ‘travel dead time’. Trainline told Morning Wire in an exclusive interview this evening that more than eight in ten of business travellers in the UK indicated that maintaining productivity is a major consideration. A further 44 per cent said [...]