Exclusive: Car industry calls for coronavirus stimulus to jumpstart recovery May 4, 2020 The UK car industry has called for a government stimulus package and extended furlough support to help it recover from the coronavirus crisis. Speaking to Morning Wire, Mike Hawes, chief executive of the Society of Motor Manufacturers and Traders (SMMT), said the government will need to jumpstart the sector in order to get demand going [...]
Environmental protestors target HS2 London sites May 4, 2020 Environmental protestors have this morning targeted HS2 sites across London, including at Euston station, saying that money from the project should be funnelled to the NHS instead. As part of a day-long action against the controversial rail project, protestors are blockading sites across London, including at Colne Valley, a natural park in west London. At [...]
Coronavirus: Rail unions warn against increasing rail services May 4, 2020 The UK’s three rail unions have urged Boris Johnson’s and other regional leaders to not implement a blanket increase of train services as the coronavirus lockdown eases. The trio of unions said they would “not accept new working patterns that put the lives of railway workers and passengers at risk” and that they “are not [...]
Warren Buffett pulls out of US aviation as Berkshire Hathaway hits $50bn loss May 3, 2020 Warren Buffett’s Berkshire Hathaway has sold its entire stake in the four largest US airlines as it posted a quarterly loss of nearly $50bn (£40bn). Buffett yesterday told the company’s annual meeting that “the world has changed” for the aviation industry. Berkshire held large positions in the airlines, including an 11 per cent stake in [...]
Elon Musk tweets that Tesla stock price is ‘too high’ as he rails against lockdown again May 1, 2020 Outspoken Tesla chief executive Elon Musk has said Tesla stock is “too high” and called once again for the end of lockdown measures. The Tesla boss has come under fire for tweeting about the company’s stock in the past. In 2018, he was sued by the SEC after it argued Musk had made false statements [...]
Heathrow expects passenger numbers to fall 97 per cent during ‘major crisis for aviation’ May 1, 2020 Heathrow Airport has called the coronavirus outbreak a “major crisis for global aviation” as it said passenger numbers for last month are expected to be down 97 per cent. The figures Passenger numbers dropped 18.3 per cent during the first quarter to 14.6m. Heathrow expects numbers to be down 97 per cent in April. It [...]
Norwegian Air faces anxious wait to find out if it has a future today May 1, 2020 Norwegian Air faces an anxious wait to find out whether its bondholders have approved a critical rescue package, with the low-cost airline’s future in doubt if it is rejected. Yesterday shareholders voted on the package, with the deadline for acceptance moved to 9pm at literally the last minute as the airline updated its final offer [...]
Ryanair set to cut up to 3,000 jobs due to coronavirus May 1, 2020 Budget airline Ryanair has warned that it might cut up to 3,000 jobs due to the ongoing disruption from the coronavirus pandemic. The low-cost carrier said that it would begin a restructuring programme in July 2020, with most of the cuts expected to affect pilots and cabin crew staff. It also said that unpaid leave, [...]
British Airways to axe a quarter of pilots amid 12,000 job cuts April 30, 2020 British Airways owner IAG expects to make a quarter of its pilots redundant as part of a scheme that could axe 12,000 jobs. The airline said it will reduce its pilot headcount by 955 for what it termed “volume adjustment” and a further 175 it pinned on “efficiency changes”. That would cull 1,130 pilots out [...]
Infrastructure giant John Laing appoints ex-3i exec as new boss April 30, 2020 Infrastructure development and investment firm John Laing has appointed a former 3i executive as its new boss. Ben Loomes will join the listed firm on 8 May, replacing Oliver Brousse who is leaving after six years at the helm to take a new role at French firm Veolia. Brousse oversaw the company’s initial public offering [...]