Elon Musk’s Twitter antics pushes Tesla’s $23m loss in Bitcoin assets July 27, 2021 Tesla’s lofty revenue, which surpassed analyst expectations today, has been offset by a $23m loss over Bitcoin which pushed the electric carmaker to dial back its investments. Elon Musk’s carmaker did not buy or sell any digital assets in its second quarter, as it dialled back investments after purchasing some $1.5bn in Bitcoin in the [...]
RMT confirms Tube strike for August July 27, 2021 The RMT union has confirmed for four days of strikes on the Tube in August in protest over plans to abolish the Night Tube train drivers’ grade. Having first called the strike earlier this month, it confirmed it would go ahead after failing to make any progress in talks with the London Underground company. The [...]
Lorry driver shortage ‘could hit Black Friday and Christmas’ July 27, 2021 A senior executive at one of the UK’s largest logistics companies has warned that supply chains are facing six to 12 months of pressure due to the current shortage of lorry drivers. Ian Keilty, chief operating officer at FTSE firm Wincanton, said that both Black Friday and Christmas shopping could be hampered by the shortfall. [...]
First Group boss to step down amid growing shareholder pressure July 27, 2021 First Group’s chief executive Matthew Gregory has this morning announced he will leave the company after the firm’s AGM, a day after the company’s biggest shareholder demanded his resignation. The announcement came as the FTSE 250 transport operator announced that its profit had shrunk about a fifth over the last financial year. Gregory’s resignation comes [...]
Watch: Heathrow’s recovery falls behind Paris and Amsterdam airports July 26, 2021 London’s Heathrow Airport urged the UK government to open up travel to vaccinated passengers after its recovery fell behind hubs elsewhere in Europe. Watch the full report.
US maintains travel ban on UK residents over Delta variant fears July 26, 2021 The White House has maintained a travel ban on the UK and the EU’s schengen zone due to fears over the highly transmissible Delta variant. The ban has now been in place since last March when it was implemented by former President Donald Trump. A White House official told Reuters today: “Given where we are [...]
TfL still facing £500m funding gap as network unveils slimmer budget July 26, 2021 Transport for London (TfL) today revealed that it is facing a £500m funding gap for this financial year as it continues to try to broker a long-term financial package with the government. In its revised budget, published this afternoon, the transport network revealed that it would need £1.9bn of funding for 2021/22, down from the [...]
Ryanair posts €273m net loss as restrictions continue to ‘wreak havoc’ July 26, 2021 Ryanair has posted a net loss of €273m (£233m) as pandemic travel restrictions continue to “wreak havoc” on the airline industry. Despite the loss, the Irish airline took home some €371m in the weeks to 30 June, up from €125m in the same period last year. Shares were up 4.1 per cent in its afternoon [...]
Heathrow warns UK falling behind Europe as losses hit £2.9bn July 26, 2021 Heathrow Airport this morning warned that it was falling behind European rivals because of the continuing restrictions on international travel. The UK’s largest airport said it had racked up losses of £2.9bn over the past six months, as vaccination travel rules and pricey tests continue to hamper the airline industry’s recovery. Passenger numbers remain a [...]
Coast Capital launches bid to oust First Group boss July 26, 2021 Coast Capital has this morning reignited its ongoing battle with First Group by calling for the resignation of the FTSE 250 firm’s chief executive Matthew Gregory, along with two other board members. The New York-based firm, which owns about 14 per cent of First Group, has been locked in a series of skirmishes with the [...]
