US-UK trade deal ‘never going to happen’, warns former Bank of England bigwig as he says high inflation is down to Brexit May 10, 2022 Most of the UK’s inflation is a direct result of Brexit, according to a former heavyweight at the Bank of England. Former BoE policymaker Adam Posen, said that around 80 per cent of the reason why the IMF expects UK’s inflation to remain high is directly linked to Britain’s departure from the EU. The economist, [...]
Tesla’s sales in China down by a third as Shanghai plant shrinks production May 10, 2022 Tesla continues to suffer from Covid-induced supply chain issues, with car sales in China slumping 35.7 per cent. Data from the China Passenger Car Association published today highlighted that in April the EV giant produced 10,757 China-made vehicles and sold 1,512 of them – the lowest in two years. Numbers also went down compared with [...]
Top Gun: Easyjet launches recruitment campaign to tackle job stereotypes May 10, 2022 Easyjet has launched a new recruitment campaign to attract more young girls to the industry, as only 6 per cent of pilots worldwide are women. To encourage more girls to consider a piloting career as something within their reach, the airline produced a parody of the 80s blockbuster film Top Gun, replacing Tom Cruise and [...]
Wizz Air eyes Saudi Arabia expansion to jump on growing tourism sector May 10, 2022 Wizz Air has announced it was looking into expanding its operations in Saudi Arabia. The low-cost carrier said today it has signed a Memorandum of Understanding with the Saudi ministry of investment to support the development of the country’s tourism sector. Commenting on the announcement, travel expert Rob Staines said: “This is exciting news. Much [...]
British Gas owner enjoys boost from soaring oil and gas prices amid growing windfall tax calls May 10, 2022 British Gas owner Centrica has said it expects to post annual earnings at the top of its targets amid intensifying calls for a windfall tax on energy firms.
Heathrow posts strong April but warns of uncertainty ahead May 10, 2022 Heathrow has posted strong results for April but continued to warn about the uncertainties that loom ahead. The London hub reported that 5 million passengers travelled through its terminals in April, with outbound leisure travel driving demand and prompting the airport to increase its passenger forecast for the year by 16 per cent. Commenting on [...]
EV market shows signs of maturing as second hand sales double May 10, 2022 The UK electric vehicle market has shown signs of maturing as the number of second hand sales has doubled over the last year, according to a quarterly report by the Society of Motor Manufacturers and Traders (SMMT) published today. Despite a combination of Covid-induced supply chain issues – including semiconductor shortages – and the impact [...]
UK needs to invest billions to become global player in EV battery market May 10, 2022 The UK needs to ramp up funding and production if it wants to become a global player in the electric vehicle (EV) battery market, according to a report published today. The Green Finance Institute’s Coalition for the Decarbonisation of Road Transport (CDRT) argued that the UK should increase its battery capacity from the current 2GWh [...]
Transport for London debt downgraded by ratings agency due to “uncertain” financial future May 9, 2022 A MAJOR ratings agency has downgraded Transport for London’s (TfL) debt due to the “uncertainty” of its long-term funding, in a further sign of the financial difficulty the operator finds itself in. Moody’s announced it had downgraded TfL’s long-term debt as a result of weaker economic growth and higher inflation delaying the service’s return to [...]
Travel chaos hits new low: Thousands of airline passengers forced to wait outside airport for hours May 9, 2022 Thousands of airline passengers at Birmingham Airport were forced to wait in long queues outside for several hours as the aviation sector continues to suffer from staff shortages. The situation on Monday was described as “absolute chaos” and “manic” by travellers on Twitter. One person said it took her “two hours to get through check-in [...]
