Rail fares have risen twice as fast as wages over past decade, says union August 14, 2019 Rail fares have risen twice as fast as wages in the past decade, new analysis by the TUC trade union has found. The figures show that rail fares, which are pegged to the Retail Price Index (RPI) inflation measure, have risen by 46 per cent since 2009, while nominal weekly earnings have only grown by [...]
Rolls-Royce: Engine issues still in focus after ‘storm of steel and iron’ falls from plane August 14, 2019 On a sunny, 30C-degree afternoon in Fiumicino, near Rome, residents of the airport town thought they were experiencing a sudden hail storm. But when witness Paola Di Lazzaro looked outside, she saw “a storm of steel and iron,” she told Italian newspaper Il Messaggero. Hundreds of shards of incandescent metal were falling down to earth [...]
Aston Martin in hedge funds’ cross hairs as short sellers target its debt August 13, 2019 Hedge funds have taken record short positions in Aston Martin’s debt and equity, betting that the firm’s recent stock market struggles are far from over. The car maker has suffered a 73 per cent decline in shares since its October float. The decline has slashed more than £3bn from its market value. As a result, [...]
Norwegian Air cuts routes to US from Ireland as Boeing 737 Max grounding bites August 13, 2019 Budget airline Norwegian Air will stop flights between Ireland and the US in September, after its finances were hit by the grounding of the Boeing 737 Max. It said: “We have concluded these routes are no longer commercially viable.” Norwegian has struggled to make a profit in recent months, and said in July the grounding [...]
Rival Silvertown Tunnel bidder launches legal action against TfL August 13, 2019 A rival bidder for the proposed Silvertown Tunnel has launched legal action against Transport for London (TfL), preventing it from signing the £1bn contract. TfL awarded the contract to build and design the tunnel in East London to Riverlinx, a consortium that includes Aberdeen Standard Investments (ASI), Cintra and Macquarie Capital. Read more: TfL awards [...]
Trafigura teams up ahead of polluting shipping fuel ban August 13, 2019 Trafigura has said it plans to join up with two Norwegian-owned shipping firms to start supplying shipping fuels. The commodity trader said it was launching a joint venture with Frontline and Golden Ocean as the industry prepares for tough new fuel standards from the beginning of next year. Read more: Why the shipping industry is [...]
Late holidays cause slump in Getlink passenger traffic August 13, 2019 Getlink, the Channel Tunnel operator, reported slumps in its truck and car traffic figures in July, which it blamed on a slowdown in UK consumption and later holiday departures. Getlink, which used to be called Eurotunnel, transports passenger vehicles and commercial vehicles across the Channel. Read more: Getlink blames Brexit for slump in traffic numbers [...]
Protesters bring Hong Kong airport to its knees for second day in a row as outbound flights cancelled again August 13, 2019 Hong Kong’s international airport has yet again been plunged into chaos after anti-government protesters forced authorities to cancel outbound flights for the second day in a row. Hours after one of the world’s busiest travel hubs returned to full operation, demonstrators have blockaded security gates again today, forcing some would-be passengers to fight their way [...]
John Menzies falls to a loss after Boeing 737 Max groundings August 13, 2019 Airport services firm John Menzies has become the latest company to suffer from the grounding of Boeing’s 737 Max jets, as weak cargo volumes helped pushed it to a first-half loss. Read more: John Menzies shares plunge after profit warning Shares in the London-listed firm fell 4.9 per cent in early trading to 394.5p. The [...]
Travel firm Tui says Boeing 737 Max grounding could cost it up to €300m August 13, 2019 Anglo-German travel firm Tui said today that the grounding of the Boeing 737 Max could cost it up to €300m (£278m) for the current financial year. In its results for the third quarter, the firm’s markets and airlines business posted a €103.9m loss, compared to a profit of €37.2m in the same quarter the year [...]
