Wednesday from hell for millions of Brits as rail strike gets underway October 5, 2022 Millions of train travellers brace themselves for major chaos today due to another strike in the long-running dispute over pay, jobs and conditions. Members of the drivers’ union Aslef and the Transport Salaried Staffs Association (TSSA) will walk out, causing huge disruption to services with millions of Brits expected to work from home. Aslef general [...]
Half of UK logistics firms to make acquisitions despite volatile market October 5, 2022 Almost half of UK logistics firms is set to make an acquisition in the next year despite challenging market conditions. Data published today by Barclays Corporate Banking reported that 45 per cent of UK businesses were considering the move as a way to achieve economies of scale and expand services. This is the highest figure [...]
Drivers should have seen bigger fuel price cuts, says RAC October 5, 2022 Drivers should have seen a bigger cut in fuel prices at the pump after costs slumped in September. According to data published today by the RAC, the average price of a litre of petrol went down to 162.9p – the sixth biggest monthly drop since 2000. Filling up a 55-litre petrol car has gone back [...]
Rolls-Royce boss calls on aviation to ramp up use of biofuels October 4, 2022 Rolls-Royce’s chief executive Warren East has called on aviation to ramp up the use of biofuels to deliver its 2050 net-zero pledges. East – who will step down from the engine manufacturer at the end of the year – said the industry needs transitional technologies like sustainable aviation fuels (SAFs) while it develops greener aircraft. [...]
Volkswagen boss: All of group’s brands preparing for IPO as exercise October 4, 2022 Volkswagen’s boss Oliver Blume said all of the group’s subsidiaries are preparing to float as an exercise. This comes on the heels of Porsche floating last Thursday in Frankfurt for €75bn (£67bn). Blume explained on Tuesday that top officials at each brand – including Audi, Bentley and Lamborghini – were sharpening their focus ahead of [...]
Low-cost airlines report strong September as people continue to travel October 4, 2022 Low-cost carriers, such as Ryanair and Wizz Air, have reported a strong September, as people across Europe continue to travel against the backdrop of a volatile economic climate. Ryanair reported that 15.9 million passengers flew aboard its planes last month – making September the second-busiest month ever after August’s record 16.9 million travellers. The carrier’s [...]
UK courting Norway and Qatar for long-term gas deals as Truss makes energy security a priority October 4, 2022 Locking in long-term gas deals with Norway, Qatar and other countries around the world has become a priority for the new Liz Truss government, as the prime minister said her focus has turned to keeping lights on this winter. Truss said ministers are “looking” at multi-year deals to cut reliance on imports from authoritarian regimes. [...]
Tramlink Croydon workers to strike on 10 and 11 October following offer rejection October 4, 2022 Train drivers working at Tramlink in Croydon will strike on 10 and 11 October after they rejected a below-inflation pay rise. The union Aslef accused Tramlink’s management of giving workers “real terms pay cuts” as their 4.75 per cent pay increase is well below the current inflation rate of 9.9 per cent. “But what’s especially [...]
17,000 construction firms risk collapsing any minute as high inflation is ‘destroying entire sector’ October 4, 2022 The number of UK construction companies at significant risk of closure has jumped 54 per cent to 16,755 this quarter, up from 10,686, according to fresh data shared with City PM this morning. Construction companies are struggling to cope with spiralling construction costs, inflation and rising interest rates on their debt. In the last quarter [...]
Musk angers Zelensky and top Kyiv officials with controversial war tweet October 3, 2022 Elon Musk has angered Ukrainian President Volodymyr Zelensky and other top officials after he posted a controversial tweet on Monday night. The serial entrepreneur called on his 107.7 million followers to weigh in on the Ukrainian conflict. He claimed that the war will end with the UN supervising an elections’ redo in the occupied territories [...]
