South Western Railway strike will hit Royal Ascot guests this week June 17, 2019 Thousands of commuters heading to Royal Ascot this week could be hit by a major railway strike. Five days of industrial action on South Western Railway (SWR) starting tomorrow will coincide with the opening day of the annual horse racing event, which runs until Saturday. SWR said the strike will hit London Waterloo commuters as [...]
Interserve chairman Glyn Barker prepares to step down June 17, 2019 Interserve chairman Glyn Barker is preparing to step down following deal that saw the struggling outsourcing firm taken over by a consortium of its lenders. The company is working with recruitment search firm Heidrick & Struggles to appoint a successor, Sky News reported. Read more: Interserve went into administration owing suppliers £100m Barker, who was [...]
Jet Airways’ lenders start insolvency proceedings June 17, 2019 Lenders to stricken Indian airline Jet Airways have started insolvency proceedings, they said today. “After due deliberations, lenders have decided to seek resolution under IBC since only a conditional bid was received,” the lenders said, referring to India’s Insolvency and Bankruptcy Code. Jet Airways suspended flights in April after running out of money. The airline [...]
Lufthansa profit warning hurts ‘miserable’ airline stocks June 17, 2019 A Lufthansa profit warning dragged down airline stocks this morning as analysts warned investors are “spooked”. The Frankfurt-listed flyer blamed overcapacity in the market and rival carrier competition for falling ticket prices in Europe. Read more: Flybe boss to quit after airline’s sale to Connect Airways Lowering its earnings margin forecast to between 5.5 per [...]
Babcock: Serco’s rebuffed bid had ‘no strategic merit’ June 17, 2019 Babcock has confirmed it rejected a takeover approach from its smaller rival Serco in January. Read more: Serco tried to merge with huge rival Babcock Serco had proposed an “all-share combination” between the two industrials companies but Babcock’s board unanimously rejected it, the outsourcer said today. Board members concluded that “a combination of the two [...]
48m without electricity as power down in all of Argentina and Uruguay June 16, 2019 Around 50m people were thought to be without electricity yesterday as a major fault shut down power in the whole of Argentina. The country’s grid “collapsed” early in the morning, authorities said. Meanwhile, supplies were affected in neighbouring Paraguay and Uruguay. Energy distribution company Edesur Argentina, tweeted this morning that a massive failure in the [...]
Kier shares plunge on housebuilding unit sale reports June 14, 2019 Shares in construction company Kier plunged more than 30 per cent today following reports that the outsourcer is preparing to sell its housebuilding unit. Shares fell from 205p to 136.28p after it emerged that the embattled firm has been in talks with advisors over selling the business. Read more: Kier shares rally after plummeting on [...]
Shell Energy to pay £390,000 after overcharging customers June 14, 2019 Shell Energy Retail has had to pay £390,000 in compensation and refunds after overcharging 12,000 customers. The utility company overcharged the customers on its default tarrifs after the energy price cap was introduced at the start of this year. Read more: Sunny markets beckon for London energy supplier bulb The Energy watchdog, Ofgem, made the [...]
Nearly one in five UK flights cancelled in disruptive start to 2019 June 14, 2019 Nearly seven and a half million people have been affected by flight disruptions this year, according to new data. The UK saw an average of 115 disrupted flights per day between January and April this year, as nearly one in five flights were cancelled. Read more: London Stansted is UK’s worst airport for flight delays [...]
Scottish government puts Glasgow Prestwick Airport up for sale June 13, 2019 The Scottish government has put the publicly owned Glasgow Prestwick Airport up for sale, just six years after taking ownership of it. The government took control over the airport to stave of the threat of closure as the airport battled poor results. The government bought it for just £1 in 2013. Cabinet secretary for transport, [...]
