Cairn Energy plans £500m shareholder bonanza following Indian tax windfall September 7, 2021 London-listed oil and gas firm Cairn Energy said this morning that a long-running tax dispute with India is nearing its conclusion, paving the way for a £506m handout to shareholders. Bosses said today they expect the country’s government to hand over close to £770m after officials seized a stake in its Indian operations as part [...]
BA pilots at Gatwick to be paid less than Easyjet’s September 6, 2021 British Airways pilots working for the carrier’s newly-announced subsidiary at Gatwick will reportedly be paid less than pilots at low-cost rival Easyjet. The Telegraph reported that junior captains will be paid between £97,000 and £114,000, while Easyjet captains earn from £108,000 to £148,000. The new pay structure is part of plans by the carrier to [...]
September surge: Tube records busiest morning since March 2020 September 6, 2021 This morning saw the busiest start to a day on the London Underground since the beginning of the pandemic in March 2020, Transport for London (TfL) said this morning. By 10am, Tube usage was up 17 per cent week-on-week, the network said, while bus passenger numbers jumped 39 per cent. There were 831,000 “taps” into [...]
Cinch signs deal with NFL to sponsor London matches September 6, 2021 Used car marketplace Cinch has today announced a new sponsorship deal with American Football’s National Football League. Under the deal, the firm will become the presenting partner of the NFL London Games and lead partner of NFL UK from the start of the 2021 season. Cinch’s branding will appear both at Tottenham Hotspur’s stadium for [...]
Silver Lake takes stake in breakdown firm RAC September 6, 2021 The RAC this morning said that private equity giant Silver Lake would take a stake in the breakdown assistance firm. The California-based investor will join GIC and CVC Strategic Opportunities I as a co-shareholder in the company. RAC chief executive Dave Hobday said that the new investment offered the firm a “fantastic opportunity to accelerate [...]
Ryanair ends negotiations with Boeing over new 737 Max 10 order September 6, 2021 Ryanair has today walked away from negotiations with Boeing over an order for its new 737 Max 10 after failing to agree on a price for the jets. Discussions over a deal have been ongoing for 10 months, but the two sides could not close the gap on price, the budget carrier said. As a [...]
Italy seeking exemption from 2035 combustion engine ban for supercar makers September 6, 2021 The Italian government is in talks with the European Union over finding a way to exempt supercar makers like Ferrari and Lamborghini from the upcoming ban on the internal combustion engine. In July the bloc unveiled plans which would see traditional diesel and petrol engines phased out by 2035. But yesterday an Italian minister told [...]
New car sales down a fifth in August as supply chain struggles bite September 6, 2021 New car sales fell over a fifth last month in the weakest August for sales since 2013, new data from the Society for Motor Manufacturers and Traders (SMMT) showed today. Just 68,033 models were registered last month in what is traditionally one of the slowest periods for sales. However, sales were down 7.6 per cent [...]
JCB heir Jo Bamford joins forces with City insider Max Gottschalk to launch £1bn hydrogen investment fund September 6, 2021 The heir to the JCB excavators empire, Wright Bus chairman Jo Bamford, confirmed to Morning Wire this morning that he has joined forces with multi-family office Vedra Partners to launch HyCap, a new hydrogen investment fund which has set its sights on raising £1bn. The capital, which currently stands at just over £200m after the [...]
Taking off: New routes on way for City Airport as passenger numbers rebound September 6, 2021 Both British Airways and Deutsche Lufthansa have reportedly restored their flights to key financial hubs from London City Airport, as bosses eye the return of business travel. Zurich, Frankfurt and Rotterdam flights will start taking off again this month, Bloomberg reported, according to the airports chief operating officer Alison FitzGerald. “We’re seeing some early signs of [...]