Flybe’s biggest shareholder threatens legal action over proposed £2m takeover January 19, 2019 The biggest shareholder of Flybe is considering legal action over the cut-price takeover of the airline, having accused the company’s directors of breaching duties to investors. London-based asset manager, Hosking Partners, owns 19 per cent of British airline Flybe and has asked lawyers to assess its options ahead of the proposed takeover from a consortium [...]
Ghosn received $9m in improper payments from Dutch joint venture, Nissan says January 18, 2019 Embattled car executive Carlos Ghosn received $9m (£7m) in improper compensation from a joint venture between Nissan and Mitsubishi, the firms have claimed. The car manufacturers said Ghosn was paid by a Netherlands-based joint venture without the knowledge of Nissan chief executive Hiroto Saikawa or Mitsubishi boss Osamu Masuko. Read more: Renault-Nissan executives planned secret Ghosn payout [...]
Violent crime on the Tube rises 43 per cent in three years January 18, 2019 Violent crime on the London Underground has soared by more than 43 per cent over three years, according to police data. There were 2,838 reports of violence on London’s Tube network between November 2017 and September last year, compared to 1,980 incidents between November 2015 and October 2016, British Transport Police (BTP) figures show. Read more: [...]
Eddie Stobart revenues beat market expectations thanks to new purchases January 18, 2019 Eddie Stobart beat market expectations to grow revenues 35 per cent to £843m for the 12 months to the end of November, it revealed today. Read more: New contract wins accelerate growth at Eddie Stobart The logistics giant beat 2017’s haul of £624m as its top line was fuelled by newly acquired subsidiaries iForce, Speedy [...]
Ryanair slashes profit guidance by €100m amid falling revenue January 18, 2019 Ryanair today issued a profit warning, saying it was reducing its full-year profit guidance by €100m (£88m) due to a drop in revenue from winter fares. The budget airline said it expects profit after tax of between €1bn and €1.1bn, down from a range of €1.1bn to €1.2bn. Read more: Ryanair profits slide as strikes, cheaper [...]
Business groups worried over energy future as Hitachi pulls out of Welsh nuclear plant January 18, 2019 Business groups were left exasperated yesterday as another core investor pulled its support from the UK nuclear sector, denting the government’s energy plans. Japanese giant Hitachi said it would suspend work on the £16bn Wylfa nuclear power plant which was intended to produce six per cent of the UK’s electricity. Protracted discussions with the government, [...]
Failed supplier Economy Energy tried to sell customers to E as it was fighting for survival January 17, 2019 The owner of Economy Energy will not be able to move 30,000 of the failed supplier’s customers to another provider which she used to own as Ofgem issued another ban. Ofgem said it had banned E (Gas and Electricity) from transferring any more of the customers they bought from Economy Energy in December. Read more: Energy [...]
London Waterloo trains and tracks to be de-iced as Network Rail prepares for colder weather January 17, 2019 Special de-icing trains will run overnight to prevent the UK’s rail infrastructure freezing to a standstill as temperatures are expected to plummet in the coming weeks. South Western Railway will run its so-called ghost trains all night to clear tracks of snow and ice and spray passenger doors with de-icer to prevent them from jamming. [...]
Crossrail moves away from gagging orders for departing staff amid transparency concerns January 17, 2019 Crossrail has heeded calls from Transport for London (TfL) to refrain from forcing departing staff to sign non-disclosure agreements (NDAs) in light of concerns raised about the organisation's transparency. NDAs are a type of legal contract that bind former employers to confidentiality restrictions. They attracted controversy in the Harvey Weinstein scandal, when it emerged that a number of his [...]
TfL working with Heathrow and London City airports to plan for no-deal Brexit January 17, 2019 Transport for London (TfL) is working with Heathrow and London City airports to mitigate the impacts of a no-deal Brexit, Sadiq Khan has said. London mayor Sadiq Khan said TfL was concerned that London could become clogged with heavy goods vehicles (HGVs) if the port of Tilbury is used more than Kent to carry traffic. Earlier this month [...]
