They are coming: Calls to stop Russian tankers heading for Kent March 2, 2022 The government must immediately intervene to stop two Russian tankers – containing enough liquid gas to supply the UK for up to 12 days – from docking in Kent at the weekend, a union said this afternoon. The Boris Vilkitsky and Fedor Litke are bound for Grain LNG with plans to unload on Sunday, according [...]
TUI’s main shareholder Alexey Mordashov resigns following EU sanctions March 2, 2022 Russian billionaire Alexey Mordashov resigned today from travel firm TUI’s board after he became a target of the EU sanctions against Russia. Mordashov, a close friend of Vladimir Putin, has been TUI’s majority shareholder for around 15 years, owning 34 per cent stake of the company. The remaining 66 per cent is owned by several [...]
Hyundai to invest $16bn by 2030 in EV push March 2, 2022 Automotive giant Hyundai is set to invest more than $16bn by 2030 in its electric vehicle (EV) businesses. The push – which is part of a wider set of investments worth $79.2bn – will help the Korean car maker to achieve a 7 per cent share in the global electric car market by 2030. “Hyundai [...]
Vertu Motors upgrades trading performance following automotive tailwinds March 2, 2022 UK automotive retailer Vertu Motors has upgraded its trading performance for the year ended 28 February, as it continues to benefit from used and new cars’ gross margins. In a trading update published today, the group said it expected the adjusted profit before tax to be “not less than £75m,” after it delivered a significant [...]
Wizz Air’s load factor increases despite Ukraine conflict March 2, 2022 Low cost airline Wizz Air is on track to get back to pre-Covid levels, as the Ukrainian conflict has so far impacted the carrier marginally. In February, Wizz Air carried 1.9 million passengers at a load factor of 91 per cent – a 258 per cent increase on February 2021. Even though it was forced [...]
BA’s owner IAG looks at all options but steers clear of rights issue March 2, 2022 British Airways’ (BA) owner IAG is reportedly looking at all options to best navigate the period’s ups and downs but said it was for the moment steering clear of rights issues. IAG’s boss Luis Gallego said that, while the group was starting to recover from the pandemic’s impact, geopolitical and economic turmoils pushed it to [...]
Russian aircraft in US scramble to fly out as airspace closes this evening March 2, 2022 Russian aircraft are left with only a few hours to leave the US, as the White House followed in the UK and Europe’s footsteps and decided to close its airspace to Moscow from tonight. “The United States stands with our allies and partners across the world in responding to Putin’s unprovoked aggression against the people [...]
“We will be the first back to Ukraine”, says Ryanair boss March 2, 2022 Ryanair will be the first airline to resume flying to Ukraine once it’s safe to do so, said chief executive Michael O’Leary. The company, who was forced on Thursday to halt all operations following the Kremlin’s invasion, expects sanctions will remain for the foreseeable future. “We halted all Ukrainian roots until March,” O’Leary said this [...]
London Underground staff ask Londoners to stay away until afternoon with fresh tube strike tomorrow March 2, 2022 London Underground services continued to be disrupted on Wednesday, after a strike by thousands of workers crippled the Tube on Tuesday. Members of the Rail, Maritime and Transport union (RMT) are taking industrial action in a bitter dispute over jobs, pensions and conditions. The Tube was suspended during Tuesday’s rush hour, with only a few [...]
Jaguar Land Rover halts all sales to Russia while BMW’s Mini plant ends production due to Ukraine conflict March 2, 2022 Sales by car manufacturer Jaguar Land Rover (JLR) to Russia has been suspended following the invasion of Ukraine. The firm announced that it made the decision due to the “wellbeing” of its workforce and those “within our extended network”. Sanctions imposed on Russia have heavily restricted the ability of companies to sell goods there. JLR, [...]