Skip to content
Search

Latest Stories

CEO John Holland-Kaye: Heathrow airport coming back to life after 2 years

CEO John Holland-Kaye: Heathrow airport coming back to life after 2 years

THE PASSENGER traffic at London's Heathrow Airport in March this year was the highest since the pandemic began, driven by outbound leisure travel and the removal of all Covid restrictions.

Heathrow, however, said in a statement on Monday (11) that inbound leisure and business travel had remained weak due to high levels of coronavirus in the country, and testing requirements for travellers leaving the country.

"It is fantastic to see the airport coming back to life after two years," CEO John Holland-Kaye said, after what the airport described as a very weak January and February.

Heathrow added that it was unclear whether the current surge in leisure demand was sustainable due to concerns over potential new variants, high fuel prices, low economic growth and the impact of Russia's evasion of Ukraine.

Many airports have struggled to recruit enough staff in time to meet demand in Britain and Heathrow said it was increasing resources as quickly as possible, with 12,000 new starters planned across the airport.

More For You

Deliveroo posts first annual profit after 12 years

A Deliveroo rider near Victoria station in London, England. (Photo by Dan Kitwood/Getty Images)

Deliveroo posts first annual profit after 12 years

FOOD DELIVERY app Deliveroo announced on Thursday (13) its first annual profit as orders and revenue rose, while the 12-year old company sees further growth despite exiting Hong Kong.

The milestone follows sizeable full-year losses owing to high investment costs since American Will Shu founded the company in 2013 and made Deliveroo's first delivery in London.

Keep ReadingShow less
JLR-Tata-Getty

JLR had initially planned to manufacture more than 70,000 electric vehicles at the facility. (Photo: Getty Images)

JLR halts plan to build EVs at Tata’s India plant: Report

JAGUAR LAND ROVER (JLR) has put on hold plans to manufacture electric vehicles at Tata Motors’ upcoming £775 million factory in southern India, according to a news report.

The decision was influenced by challenges in balancing price and quality for locally sourced EV components, three of the sources said. They added that slowing demand for electric vehicles was also a factor.

Keep ReadingShow less
Government to abolish payments regulator to boost growth

Keir Starmer (R) and Rachel Reeves host an investment roundtable discussion with members of the BlackRock executive board at 10 Downing Street on November 21, 2024 in London, England. (Photo by Frank Augstein - WPA Pool/Getty Images)

Government to abolish payments regulator to boost growth

PAYMENTS REGULATOR will be abolished and its remit absorbed by another financial regulator, the government said on Tuesday (11), as it aims to cut red tape in favour of growth.

The Payment Systems Regulator (PSR), which oversees systems including MasterCard and bank transfers, tackles problems such as fraud, excessive fees and lack of competition among banks and payment providers.

Keep ReadingShow less
Boohoo

Boohoo’s shares, which have fallen by about 20 per cent this year, dropped 4 per cent on Tuesday. (Photo: Getty Images)

Boohoo rebrands as Debenhams after 21 per cent sales drop

BOOHOO has rebranded itself as Debenhams Group after sales from its young fashion brands, including Boohoo, MAN, and PrettyLittleThing, declined by 21 per cent to £947 million.

The move comes amid strong competition from Shein and a shift towards second-hand clothing among younger shoppers, The Guardian reported.

Keep ReadingShow less