Tata Motors denies it plans to sell its stake in Jaguar Land Rover August 17, 2020 Tata Motors has denied reports it plans to sell its stake in Jaguar Land Rover after talks with the government to secure a rescue package broke down. Talks with the carmaker and Tata Steel, which are both owned by the Indian conglomerate Tata Group, broke down after the Treasury concluded the group did not qualify [...]
UK tradespeople remain optimistic despite pandemic uncertainty August 17, 2020 Tradespeople in the UK continue to remain optimistic for near-term workloads despite the economic havoc triggered by the pandemic. A survey of over 1,300 tradespeople conducted by builders’ merchant Travis Perkins, found half of the respondents believe their workloads will increase and will have to buy new materials over the next two months. The first [...]
Brits dash for the Channel in bid to beat France quarantine August 14, 2020 British holidaymakers are scrambling to get home before they are forced to quarantine for 14 days after the government last night announced that it was removing France from its travel corridors list. According to transport secretary Grant Shapps, there are roughly 160,000 UK holidaymakers currently in France who have been caught out by the ministers’ [...]
Grant Shapps: ‘No choice’ but to impose quarantine rules on France August 14, 2020 Transport secretary Grant Shapps has said that ministers had no choice but to remove France from the list of countries exempt from quarantine rules after a spike in coronavirus cases. The restrictions, which were announced late last night, come into effect tomorrow morning at 4 o’clock. Speaking to Sky News, Shapps said: “It’s a dynamic [...]
Easyjet shares sink on France quarantine despite £203m aircraft sale August 14, 2020 Shares in low cost carrier Easyjet fell 5.5 per cent this morning as the government announced travellers from France would have to quarantine on return to the UK. The news came as the airline siad that it had completed the sale and leaseback of 23 aircraft, raising an extra £608m to bolster its liquidity amid [...]
Hedge funds make more than $1bn betting against travel stocks August 13, 2020 Hedge funds made profits of more than $1bn (£760m) from betting against travel companies in the year to July. They also have $2.98bn in short positions outstanding in the industry, analysis by Reuters of regulatory filings and investment bank stock lending data showed. The coronavirus pandemic has inflicted huge losses and share price falls on [...]
Weather ‘had an impact’ on fatal Scottish train crash August 13, 2020 Bad weather contributed to a train crash in Aberdeenshire yesterday which killed three people, the Scottish transport secretary said. Three people were killed and six others injured when the Aberdeen to Glasgow service came off the rails near Stonehaven yesterday. Driver Brett McCullough and conductor Donald Dinnie were killed alongside a passenger. The train reportedly [...]
National Express falls to £30m loss as coronavirus decimates demand August 13, 2020 Coach operator National Express swung to a £30m loss in the first half of 2020 after the coronavirus pandemic sent passenger demand plummeting 80 per cent. Despite the drop in passenger numbers, the bus firm said it still managed to secure 50 per cent of revenue in the period, recording cash flow of £270m over [...]
Lyft maintains end-2021 profitability goal August 12, 2020 Lyft said today that cuts had put the company on track to reach its goal of becoming profitable on an adjusted basis by the end of 2021, even as its revenue fell 61 per cent. Quarterly revenue fell to $339.3m, as the pandemic crushed demand for ride-hailing services in North America. The ride-hailing app said [...]
Tui agrees €1.2bn rescue package with German government August 12, 2020 Holiday firm Tui has agreed a €1.2bn (£1.1bn) rescue deal with the German government to give it the cash it needs to keep trading during the coronavirus pandemic. The virus has decimated the holiday market, with widespread travel restrictions and grounded airlines leading to an unprecedented collapse in demand. The majority of the funding will [...]