Shares in aviation services company John Menzies slip on coronavirus profit warning February 27, 2020 Shares in aviation services company John Menzies fell more than six per cent this morning after it warned of the impact of the coronavirus outbreak on its business. “The outbreak and continued spread of Covid-19 [coronavirus] is having a direct impact on the operations of the group,” it told the stock exchange in a trading [...]
Aston Martin finance chief quits as firm falls to £100m loss February 27, 2020 Aston Martin fell to a loss of over £100m today as the luxury carmaker announced it would use 2020 to “reset” the business in order to compete in the supercar market. The firm said that the release of the new DBX and Valkyrie models, which are scheduled for the summer, would be critical to fulfilling [...]
National Express hails record year as firm posts £240m profit February 27, 2020 Coach operator National Express today said it had “beaten [its] expectations” as the firm announced a record year for revenue and profit in 2019. The figures Profit before tax rose 9.1 per cent over the year, from £220m in 2018 to £240m last year, as the firm reported growth in every one of its divisions. [...]
Heathrow expansion: Court of Appeal set to decide on Khan’s challenge February 27, 2020 The Court of Appeal will deliver a verdict on Sadiq Khan’s challenge to a third Heathrow runway today. Khan teamed up with several local authorities, Greenpeace, Friends of the Earth and Heathrow Hub, authors of a rival extension bid, to challenge the Department for Transport’s (DfT) 2018 policy statement outlining the project. Parliament backed the [...]
Construction sector lobbies government for £225m ‘future-proofing’ institute February 27, 2020 Construction and engineering bosses are pushing the government to set up a new institute to promote the interests of the consultancy and engineering sector. In a letter to business minister Nadhim Zahawi, the 28 leaders of firms involved in national infrastructure seek government funding to develop the Consultancy Sector Futures Institute. The initiative is being [...]
UK car production falls for the fifth consecutive month in January February 27, 2020 British car production declined for a fifth consecutive month in January, but an increase in overseas orders gave the struggling sector some cause for cheer after a challenging 2019. According to new data from the Society of Motor Manufacturers and Traders (SMMT), output fell 2.1 per cent on a month-by in the first month of [...]
St Mary Axe set to be closed to cars in peak times for trial period February 26, 2020 The City’s St Mary Axe is set to be pedestrianised at peak times for a trial period as the Square Mile moves closer to a future with less cars on the roads. Canada Corporation has moved plans forward to close the street to cars for most of the work day for a [...]
RMT calls on government to avoid ‘reanimating the corpse’ of rail franchising February 26, 2020 Rail union RMT has called on the government to commit to a full renationalisation of the UK’s railways ahead of the imminent Williams review into the franchising system. Although the review is expected to lead to an “overhaul” of the current system, RMT says that the concession model that is widely touted as the government’s [...]
Serco grows revenue for first times since 2013 as outsourcer puts past behind it February 26, 2020 Outsourcing giant Serco posted its first year of revenue growth since 2013 and paid its first dividend since 2014 as the firm entered the new decade in style. Shares in the firm rose over three per cent over the day’s trading. The figures Revenue grew 15 per cent in 2019, from £2.8bn in 2018 to [...]
Crossrail 2 should be funded this year, says government adviser February 26, 2020 Crossrail 2 should be one of Boris Johnson’s top infrastructure priorities and get a funding commitment this year, according to a key government infrastructure adviser. The National Infrastructure Commission released its annual report today, saying the £41bn north-south train line should immediately get the go ahead. The project is under a cloud of uncertainty due [...]