‘Intelligence received’ suggesting airports breaking competition law – regulator January 26, 2023 UK airports could be breaking competition law, according to information received by a regulator. The Competition and Markets Authority (CMA) has written to airport operators warning of “serious consequences” for illegal information sharing. The letter, produced jointly with the Civil Aviation Authority (CAA), stated: “The CMA has recently received intelligence to suggest that some UK [...]
Man charged with assaulting Matt Hancock January 26, 2023 A man has been charged with assaulting former health secretary Matt Hancock on the London Underground. Geza Tarjanyi, 61, from Leyland in Lancashire, will appear in court next month, accused of common assault and two public order offences, British Transport Police (BTP) said on Thursday. A spokesman for the MP for West Suffolk described the [...]
Toyota boss to stand down after 14 years amid concern over sluggish shift to EVs January 26, 2023 Japanese car-maker Toyota (TMC) has announced a major shake-up of its leadership structure, with its current president stepping to to be the new chair. Akio Toyoda has been promoted to the top of the company’s board this morning in wake of Takeshi Uchiyamada’s resignation. Uchiyamada, the grandchild of the company’s founder, stepped down as the [...]
Jet2: Winter sun seekers boost package holiday firm’s profit expectations to £385m January 26, 2023 Package holiday firm Jet2 has raised its profit expectations for the year ending March 2023 amid soaring winter bookings. The company, which has estimated its profits at £385m for the 12-month period, reported that sale of seats this summer is 6.6 per cent higher than last year at 15.2m, while forward books are dominated by [...]
Strong euro helps Wizz Air clock up £31m profit as passenger levels soar to 12.4 million January 26, 2023 Wizz Air posted a positive net profit for the second consecutive month as passenger levels continued to rise. The London-listed airline reported today a €33.5m (£31.1m) net profit for the three months ended 31 December, up from last year’s loss of €267.5m. This was due to passenger levels soaring 59.1 per cent to 12.4 million [...]
Elon Musk: Twitter a ‘powerful tool’ to drive Tesla’s demand as car maker’s revenue soars to $24.3bn January 26, 2023 Twitter is “an incredibly powerful tool” to drive Tesla’s demand, according to chief executive Elon Musk. “I really encourage all kinds of automotive companies to use their Twitter accounts in ways that are interesting, informative and entertaining and it will help drive sales just as it has with Tesla,” Musk told investors on Wednesday night. [...]
UK car production at its lowest for 67 years, but EVs soar ahead with £10bn of exports alone January 26, 2023 UK car production fell to its lowest level since 1956 last year as output was hit by global shortages of semiconductor chips, figures show. A total of 775,014 cars were built in 2022, down 9.8 per cent from the 859,575 made during the previous year, the Society of Motor Manufacturers and Traders (SMMT) said. December [...]
Boeing posts positive free cash flow for first time since 2018 as losses go up January 25, 2023 Boeing has posted a positive free cash flow for the first time since 2018 despite higher net losses. The US plane maker today reported a $2.3bn (£1.9bn) free cash flow for the whole of 2022, up from a loss of $4.4bn the previous year. Meanwhile, free cash flow for the three months ended 31 December [...]
Jaguar Land Rover returns to profit for first time in nearly two years as easing of chip shortage fuels production boom January 25, 2023 Jaguar Land Rover returned to profitability for the first time in almost two years, as the easing of a long-running chip shortage has fuelled a surge in production volumes. Semiconductor are a car’s integral component, as they are used in key features such as sensors. The British car-maker came back into black, which it hasn’t [...]
Easyjet slims losses to £133m as it dreams of profitability with Easter and summer bookings already flying high January 25, 2023 Easyjet expects to deliver a full-year profit after shrinking its quarterly losses by 37 per cent, the company said today, as chief executive Johan Lundgren remained positive about the airline’s preparedness to deal with higher passenger levels this summer. The low-cost carrier announced today that its loss before tax in the three months ended 31 [...]
