Stockpile key battery metals to avoid ‘looming mismatch’, governments warned May 5, 2021 Governments around the world should consider strategically stockpiling metals critical for energy transition technologies to avoid the “looming mismatch” between their climate intentions and the availability of such materials. A new report by the International Energy Agency (IEA) today said that countries should act now to shore up supplies of metals such as nickel, lithium, [...]
Travel finance start-up raises £10m to build up US operations May 5, 2021 A new fintech firm offering users the chance to split the cost of travel over 12 months has raised another £10m in funding, it was announced today. Start-up Fly Now Pay Later has now raised a total of £45m in funding following the close of its latest round, co-led by asset management firms Revenio Capital and [...]
Reopening of showrooms boosts new car sales in April May 5, 2021 The reopening of England’s car showrooms boosted sales of new vehicles in April, prompting the car industry to hail the “light at the end of the tunnel” after lockdown. In total, 141,583 new vehicles were registered last month, a thirty-fold jump on the same month a year ago, when the initial coronavirus lockdown all but [...]
Stellantis beats revenue expectations but warns chip shortage could slow it down May 5, 2021 Stellantis beat analyst forecasts for revenue in its first quarter as a new entity but warned that the global semiconductor shortage would slow down production in the second quarter. The car giant, which was formed by the mega-merger of Peugeot-owner PSA and Fiat Chrysler, said revenue came in a €37bn for the quarter, ahead of [...]
Airline passenger numbers creep higher as holidaymakers await green light May 5, 2021 Covid-19 passenger restrictions continued to squeeze airlines’ passenger numbers in April, a year on from the start of the pandemic, although there were some chinks of light for the sector. Ryanair said it flew 1m people last month, twice as many as it did in March, but still millions short of its normal capacity. Compared [...]
Central Line strike planned for election day suspended as union officials hold talks with Tube bosses May 4, 2021 A Central Line strike planned to coincide with the Mayoral election this week has been suspended. The Rail, Transport and Maritime (RMT) union had previously called for industrial action following the “victimisation” and subsequent sacking of tube driver, and union rep, Gary Carney. However, today union bosses told members at Leytonstone, Loughton, West Ruislip and [...]
Mayor of London election: Where do the major candidates stand on transport? May 4, 2021 With the 6 May mayor of London election now just weeks away, City PM is producing a four-piece series on where the four leading candidates stand on different issues. Today, we look at the transport policies of the candidates from Labour, the Conservatives, the Green Party and the Liberal Democrats. Sadiq Khan Khan said he [...]
Emirates expects to fly 70 per cent of normal capacity by winter May 4, 2021 Emirates plans to operate around 70 per cent of its normal capacity this winter thanks to an expected international travel boom as countries ease Covid restrictions and reopen borders. The world’s biggest long-haul airline has been gradually rebuilding its network of 157 passenger destinations since flights were grounded in March 2020. It is currently operating [...]
Exclusive: Four out of five on furlough consider switching to jobs they are overqualified for May 4, 2021 Four in five furloughed Brits are considering applying for jobs they are overqualified for if they cannot return to their existing employment. Some 62 per cent of respondents feared they would not have a job to return to after furlough, according to new research by consultancy firm NTT DATA UK, shared with City PM this [...]
Uber inks deal with Arrival to build electric car for its drivers May 4, 2021 Uber has this morning announced a partnership with UK start-up Arrival to build electric taxis designed for its ride-hailing drivers. The car, which will enter production in the first quarter of 2023, will be designed in partnership with the ride-hailing giant’s drivers. The partnership is part of Uber’s push to eliminate emissions from all 45,000 [...]
