Back to black: Lufthansa returns to profit but shaves flight offerings amid travel chaos August 4, 2022 Lufthansa has returned to black, posting an operating profit of €393m (£331m) in the three months to June following a boom in demand for cargo flights. Up from last year’s loss of €827m, the carrier’s adjusted EBIT margin rose to 4.6 per cent while net income went up from a loss of €756m to a [...]
Campaigners challenge mayor’s decision to expand police access to traffic cameras August 4, 2022 Campaigners have launched a legal challenge against London mayor Sadiq Khan over his decision to expand police access to data from traffic cameras. Activists like Green Party London Assembly member Sian Berry called the decision “terrifying”, saying it would increase Londoners’ surveillance and hit ethnic minorities the most. “With human rights under threat from all [...]
Go-Ahead bidders add another £22m to their offer to give takeover of transport giant the final push August 4, 2022 The bidders planning to buy transport operator Go-Ahead Group have upped their offer by more than £20m. Australian bus network Kinetic and Spanish transport firm Globalvia agreed to take over Go-Ahead in June for around £647m. But the consortium of investors raised their takeover bid by £22m to about £669m today despite not having any [...]
Energy watchdog Ofgem to review price cap quarterly ahead of ‘challenging winter’ August 4, 2022 Energy regulator Ofgem said this morning that the energy price cap will be reviewed quarterly, rather than every six months, as it warned that customers face a “very challenging winter ahead”. The regulator said the change would go “some way to provide the stability needed in the energy market”, adding: “It is not in anyone’s [...]
Consortium inks £3.7bn takeover deal for Mediclinic August 4, 2022 Hospital chain operator Mediclinic is to be bought by a consortium for an equity value of around £3.7bn. The South African investment holding firm has snapped up the UK operation alongside MSC Mediterranean Shipping. “The recommended offer represents a near-term value realisation for Mediclinic shareholders at an attractive premium,” Dame Inga Beale, chair of Mediclinic, [...]
Glencore shareholders set for payday as profits jump to $18.9bn August 4, 2022 Mining and commodities giant Glencore announced it would put $4.5bn back in shareholders pockets today after it reported record half-yearly profits of $18.9bn on the back of soaring metal prices and market volatility.
Rolls-Royce shares dive as soaring costs squeeze profits August 4, 2022 Rolls-Royce reported a slowdown in profits in the first six months of the year as a cocktail of snarled supply chains, soaring inflation and war in Ukraine caused costs to spiral.
‘Junk science’: London Conservatives dispute validity of research on TfL food ad restrictions August 3, 2022 GLA Conservatives have disputed the validity of an independent research on junk food ad restrictions implemented since 2019 on the Transport for London (TfL) network. Published yesterday by the University of Sheffield and the London School of Hygiene & Tropical Medicine, the study argued that the ban has prevented almost 100,000 cases of obesity. It [...]
Cost of living: Morrisons follows Tesco and Asda in announcing fuel price cut of 6p per litre August 3, 2022 Morrisons is the latest supermarket to announce it is slashing the price of fuel, as households struggle to stay afloat amid a cost of living crisis. The retailer said on Wednesday that it had cut the cost of unleaded and diesel by an average of six pence a litre over the last week at all [...]
London City Airport to reach 3 million passenger mark as numbers soar August 3, 2022 London City is on track to reach the 3 million passenger mark at the end of the year as numbers continue to soar. The Newham airport announced today that 640,000 passengers travelled through its gates in June and July while August forecasts expect another 300,000. “We have made a conscious effort with our airlines to [...]
