Volvo targets return to profit in second half after coronavirus hit July 21, 2020 Swedish car maker Volvo said that it expected its business to bounce back strongly in the second half of the year after falling to a 989m Swedish crown (£87m) loss for the first half. Although the automaker was hit hard by the coronavirus pandemic, it said that it expected the downturn to be a temporary [...]
New Thames Estuary development plan could add £115bn to UK economy July 21, 2020 The Thames Estuary growth board has today launched a new development initiative that could add up to £115bn to the UK economy. Named the “Green Blue”, the scheme comprises 30 individual projects in the south-east, with the potential to create 1.5m jobs. These include infrastructure developments such as the Lower Thames Crossing, as well as [...]
Taxi and private hire drivers to undergo criminal record checks every six months July 21, 2020 Taxi and private hire drivers will have to undergo criminal record checks every six months as part of a suite of new measures to protect passengers. Under new licensing standards introduced today by the government, drivers will also be given safeguarding training so they can help passengers being exploited or abused. In addition, the standards [...]
Soundcloud founders launch e-bike subscription service July 21, 2020 The former founders of Soundcloud have launched an e-bike subscription service, backed by European investors. The service, Dance, is co-founded by Soundcloud founders Eric Quidenus-Wahlforss and Alexander Ljung, together with the co-founder of website builder Jimdo, Christian Springub. Quidenus-Wahlforss and Ljung are known for co-founding Soundcloud as chief technical officer and chief executive respectively. Quidenus-Wahlforss [...]
Exclusive: Ride-hailing app Ola launches new corporate service July 21, 2020 Ride-hailing app Ola will today launch a new service for its corporate clients, Morning Wire can reveal. According to the Indian firm, Ola Corporate, which will be available to businesses across the UK, could save firms up to 25 per cent on their travel expenses. The firm said that it was cheaper than alternative services [...]
Uber faces final Supreme Court appeal to argue drivers are not employees July 20, 2020 Uber will tomorrow begin one final attempt to overturn a ruling that means it must treat its drivers as “workers” in what could be a landmark case for UK employment rights. The ride-hailing app has already been defeated on the two previous occasions it has tried to challenge the ruling, which was first made in [...]
Carlos Ghosn labels Renault ‘pathetic’ as sales tumble 35 per cent July 20, 2020 Carmaker Renault revealed that worldwide sales of its vehicles had fallen 34.9 per cent in the first half after disgraced boss Carlos Ghosn labelled the recent performance of the Renault-Nissan partnership as “pathetic”. The French auto giant said that the fall in sales was due to its “high exposure to countries that have undergone a [...]
Airlines call on Rishi Sunak to waive passenger tax for 12 months July 20, 2020 The UK’s airlines have renewed calls for a 12-month waiver from paying Air Passenger Duty (APD) in a bid to protect the industry from damage from the coronavirus crisis. A new survey from industry body Airlines UK has found that without such a waiver, 600 air routes will be lost in the short-term, as well [...]
Virgin Australia bondholders submit rival buyout bid July 20, 2020 Virgin Australia bondholders have submitted a rival deal to Deloitte to buy the embattled carrier out of administration, a spokesman said today. Last month US investment fund Bain Capital emerged as the victorious bidder for the airline, in a deal worth an undisclosed sum. Although the offer eclipsed proposals offered by Cyrus Capital Partners and [...]
London boroughs spent nearly £1m opposing Heathrow expansion July 17, 2020 A number of London boroughs and Transport for London have spent almost £1m over the last year and a half in challenging plans to expand Heathrow Airport. Between September 2018 and March this year, the boroughs of Hillingdon, Windsor and Maidenhead, and Hammersmith and Fulham, as well as the capital’s transport operator, have spent £944,603 [...]