Mitie expects flat organic growth for the year January 30, 2020 Outsourcer Mitie said today that its organic growth for the financial year would be flat but earnings would be line with guidance. The company said today revenue growth in the nine moths to 31 December was six per cent. This was driven by Mitie’s £14m acquisition of security business VSG from Compass. The company said [...]
HS2 is not just another transport project — it’s about the very bones of our economy. January 30, 2020 Over the coming weeks, the government will publish at last the Oakervee report into HS2. The review looks likely to give the green light to this massive investment in the infrastructure of the north and the Midlands — and it’s certain that there will be an almighty row about it. As always with any infrastructure [...]
Boeing suffers annual loss of nearly $2bn as 737 Max crisis drags on January 29, 2020 Boeing made a monumental $1.98bn (£1.52bn) loss last year, after the grounding of the 737 Max plane marked the most calamitous period in its 103-year history. Sales also sank 37 per cent year on year to $17.9bn, Boeing’s first annual results since the worldwide grounding of its best-selling jet showed today. Boeing warned the crisis [...]
Struggling Northern Rail franchise nationalised and renamed Northern Trains January 29, 2020 Northern Rail is to be nationalised, five years before the franchise was set to end, after months of delays, cancellations and poor financial performance. Transport secretary Grant Shapps will terminate the existing franchise for Northern and install the state’s Operator of Last Resort on 1 March as filings for a new state-run replacement – Northern [...]
Coronavirus: British Airways halts flights to mainland China January 29, 2020 British Airways has stopped flights to Beijing and Shanghai for the next two days in an attempt to stem the spread of the coronavirus outbreak. The airline’s decision follows the Foreign Office yesterday urging British citizens not to travel to mainland China unless it was essential to. Read more: UK citizens back from Wuhan face [...]
Pendragon shares fall on gloomy profit projection January 29, 2020 Car dealership Pendragon today said that it expects its profit to be at the lower end of expectations for its full financial year. The company, which has had two chief executives depart in the last year, has been hit by sluggish UK car demand. Shares fell 4.5 per cent this morning to 11p. Pendragon is [...]
Budget airline Wizz Air boosts profit guidance on strong passenger growth January 29, 2020 European budget airline Wizz Air today increased its profit guidance for its financial year to between €350m (£296m) and €355m on strong third quarter results. The carrier said today passenger numbers grew 23.2 per cent in the the three months to 31 December compared to the same quarter the previous year. Net profit for the [...]
Another ‘disastrous month’ for Boeing as reputation hits rock bottom January 29, 2020 Boeing’s reputation has hit a record low this month, as the troubled plane maker gears up to announce its annual results this afternoon. The manufacturer is still reeling from two crashes involving its 737 Max jet in 2018 and 2019. They killed a combined 346 people, and led to the best-selling jet being grounded worldwide. [...]
‘Enough is enough’: Two thirds of South Western Railway passengers fed up with fares January 28, 2020 Barely a third of South Western Railway passengers feel they are getting value for money, after months of strikes and delays caused misery across the network. According to the National Rail passenger survey, just 34 per cent of customers were satisfied with fares, the lowest score of any franchise in the country. Overall passenger satisfaction [...]
Ryanair boss Michael O’Leary calls Flybe a ‘loss-making turkey’ in stinging rebuke to chancellor Sajid Javid January 28, 2020 Ryanair boss Michael O’Leary has issued another sharp rebuke to chancellor Sajid Javid in the wake of the government’s rescue of Flybe, this time saying the UK’s business strategy is “doomed to fail”. In a letter bound to further escalate the row between the two, O’Leary called the struggling regional airline a “loss-making turkey”. He [...]
