Rolls-Royce shares fall as it burns through £3bn in first half July 9, 2020 Rolls-Royce reported cash outflows today of £3bn for the first half of its financial year, as income fell away amid the coronavirus crisis. The aerospace engineer, which makes engines for the Boeing 787 and Airbus 350 planes, forecast an improvement in the second half which would result in full-year outflows of £4bn. Shares fell more than [...]
More needs to be done to power green recovery, say industry leaders July 8, 2020 Rishi Sunak has confirmed a £3bn green plan to boost employment and upgrade the UK’s infrastructure, but industry leaders have warned more needs to be done to power the recovery. In the much-awaited summer statement, the Chancellor said he planned to tackle the economic challenges of the pandemic with a “historic investment in infrastructure”. Responding [...]
Rishi Sunak announces there will be ‘no cap’ on Kickstart scheme for under 25s July 8, 2020 Chancellor Rishi Sunak has announced there will be no cap on the Kickstart scheme, which will see the government subsidise jobs for young people on Universal Credit. The Chancellor announced the “kickstart scheme” to help under 25s during the pandemic. An initial £2bn has been made available and there will be no cap on the [...]
First Group says it may not survive as passenger numbers dive July 8, 2020 British bus and train operator First Group warned on Wednesday it might not survive as a going concern after a collapse in passenger numbers led to a £153m loss in the year to March, sending its shares down 15 per cent. But the company, which owns the US Greyhound network and school bus services in [...]
Hail the micro-mobility revolution July 7, 2020 As an investor, whether you’re investing in established industries or cutting-edge tech, one of the first questions you ask yourself is: “What do we have to believe for this to be a success?” You have to believe there’ll be sufficient demand for a product; that the leadership team has the drive to go the distance; [...]
PM calls for driverless Tube trains in TfL bailout July 6, 2020 Boris Johnson has said that driverless Tube trains should be a condition of any future government bailout of Transport for London (TfL). The government gave TfL a £1.6bn support package in May following a slump in revenue as the coronavirus lockdown prevented commuters from using the service. The funding is due to expire in September. [...]
Eddie Stobart reports jump in losses as it recovers from difficult year July 6, 2020 Annual losses at logistics group Eddie Stobart have jumped significantly, following a £169m charge in December as a result of an accounting blunder. Losses before tax rose to £238.9m for the 12 months to the end of November 2019, up from £22.3m a year earlier. Exceptional costs were reported of £200.2m, up from £5.1m, to [...]
End of quarantine: Where can you go on holiday this summer? July 3, 2020 The government has revealed the full list of countries holidaymakers from England will be able to travel to without needing to quarantine on return from 10 July. In total, 59 countries are included on the list, along with the 14 British Overseas territories, Ireland, the Channel Islands and the Isle of Man. As expected, the [...]
Super Saturday: Pubs to open as London braces for boozing Brits July 3, 2020 Pubs and restaurants up and down the country are preparing to open tomorrow – dubbed Super Saturday – for the first time since lockdown began, as Brits readjust to life under social distancing. Bars and eateries will be allowed to open their doors for the first time using measures such as table service and visitor [...]
Commuting in the post-Covid world July 3, 2020 It’s a cliche to say that the Covid-19 pandemic has changed everything — we need to get over this and embrace “the new normal”. But change needs more than an embrace: it needs to be understood and thought-through, not rushed into headlong because everyone else is doing it. And nowhere is such consideration more necessary [...]
