Rolls-Royce makes move towards hybrid planes June 18, 2019 Engine-maker Rolls-Royce took a major step towards greener travel as it today announced the acquisition of Siemens’s electric aeroplane business. The e-aircraft business employs around 180 designers and engineers to develop all-electric and hybrid systems for planes. Read more: Rolls Royce 4.6bn pension legal general buyout The deal is understood to have been worth around [...]
Nationalising the Big Six could leave British pensioners out of pocket June 18, 2019 A trade union plan to nationalise the UK’s biggest energy suppliers could favour foreign investors to the detriment of British pensioners, a city lawyer has warned. Jeremy Corbyn’s Labour party, which has pledged widespread nationalisation of the energy industry, welcomed the proposal from the Unison, one of Britain’s largest trade unions, to bring the Big [...]
British Airways owner signs up for 200 Boeing jets, including the 737-Max model that is currently grounded worldwide June 18, 2019 Plane maker Boeing has landed a huge order from British Airways parent International Airlines Group (IAG) for 200 planes, as it looks to bring the fight to arch-rival Airbus at the Paris Airshow. IAG signed a letter of intent with Boeing for 200 737 aircraft to join its fleet. The mix of 737-8 and 737-10 [...]
Andrea Leadsom defends Boris Johnson’s U-turn over Heathrow June 18, 2019 A key ally of Boris Johnson has defended his apparent decision to drop his opposition to the Heathrow third runway. Andrea Leadsom, who threw her weight behind Johnson’s campaign to be the next Prime Minister this morning, told LBC: “I think he has changed his view over time, as is absolutely right that politicians do [...]
Space X explosion will delay astronaut plans, Nasa official says June 18, 2019 The explosion that destroyed a Space X crew vehicle in April will delay the drive to build a US spaceship able to carry astronauts to the International Space Station, a senior Nasa official said today. In April, Space X’s passenger vehicle, Crew Dragon, exploded on the ground during testing. Nasa administrator Jim Bridenstine said he [...]
Coast Capital hits out at First Group over ‘defamatory attacks’ June 18, 2019 Activist investor Coast Capital has hit out at First Group for making alleged “defamatory attacks and false statements” in the pair’s public slanging match over the transport giant’s strategy. Coast, First Group’s largest shareholder, has issued a 24-page rebuttal to claims made by First earlier this month, in which it called the investor an “opportunistic, [...]
Lift off: Gatwick earnings rise after increase in long-haul flights June 18, 2019 London’s Gatwick airport cheered a bump in earnings during the last 12 months, as long-haul flights to the Far East helped deliver growth. Earnings before interest, tax, depreciation and amortisation (Ebitda) jumped 7.3 per cent in the year ending 31 March, driven by new routes, increased frequencies and retail development, the UK’s second largest airport [...]
South Western Railway strike: Thousands hit by industrial action June 18, 2019 Commuters faced the first of five days of disruption as a South Western Railway strike hit trains to and from London Waterloo station today. Passengers face rush hour chaos for the rest of the week and into the weekend on the route after workers with the Rail, Mairitme and Transport Union (RMT) walked out over [...]
Heathrow airport reveals third runway ‘masterplan’ June 18, 2019 The masterplan for Heathrow’s £14bn third runway will be revealed to the public for the first time today, alongside its largest-ever consultation into the project. The airport will reveal how it plans to reduce emissions and noise – two areas that campaigners have circled out as areas of concern – as well as a proposed [...]
Let London take back control of its finances June 18, 2019 As many a City PM reader will know, London is different from the rest of the UK in a variety of ways – and not just in terms of how it votes, its cultural mix, or its size and complexity. There is also the amount of tax that London’s citizens and businesses pay. Recent figures [...]
