Skip to content
Search

Latest Stories

UK Supreme Court gives green light to Heathrow expansion

BRITAIN's top court gave the go-ahead to the expansion of Heathrow Airport on Wednesday(16), allowing the £14 billion ($19 billion) plan to proceed after decades of legal battles and political wrangling.

The Supreme Court ruling overturned a previous court decision that had blocked the plan on environmental grounds.


In February, a court had declared the expansion unlawful, ruling in favour of climate change campaigners. The judge had said that a failure to take into account the British government's commitments on climate change was "legally fatal" to the plans.

But a Supreme Court judge told a virtual session on Wednesday that the government had taken climate change commitments into account when designing its airport policy.

"For these reasons, the Court unanimously concludes that the appeal should be allowed. The airports national policy statement is lawful," Judge Philip Sales said.

"Demand for aviation will recover from Covid-19, and the additional capacity at an expanded Heathrow will allow Britain as a sovereign nation to compete for trade and win against our rivals in France and Germany," a Heathrow spokesman said in a statement.

The airport is owned by Spain's Ferrovial, the Qatar Investment Authority and China Investment Corp, among others.

Heathrow, Britain's biggest port by value, has two runways, compared with Paris's and Frankfurt's four and Amsterdam's six. Before the pandemic, it had no space to add new flights.

Heathrow and its supporters argue that Britain's departure from the EU makes expansion critical to ensuring the country can increase trade with the rest of the world.

The project has been hotly debated in Britain for almost half a century. The new runway was previously approved in 2009 before being scrapped the following year, and then approved again in 2018.

Prime minister Boris Johnson has been a long-term opponent of it. As mayor of London, he vowed in 2015 that he would lie down in front of bulldozers if necessary to stop construction of the third runway.

The latest decision represents a setback to wider hopes among climate campaigners of using Heathrow as a test case to develop similar legal challenges to heavily polluting transport, energy or other projects in other countries.

More For You

Shein-Reuters

Shein had aimed to go public in London in the first half of this year, subject to regulatory approvals in the UK and China. (Photo: Reuters)

Shein cuts valuation to £40 billion for London listing

SHEIN is preparing to lower its valuation to around £40 billion for a potential initial public offering (IPO) in London, according to three Reuters sources familiar with the matter.

This is nearly 25 per cent lower than the company's 2023 fundraising valuation as it faces increasing challenges.

Keep ReadingShow less
Northern-Superchargers-Getty

Ben Stokes and Matthew Short of Northern Superchargers walk out to bat during The Hundred match between Manchester Originals and Northern Superchargers on August 11, 2024 in Manchester, England. (Photo: Getty Images)

Sunrisers Hyderabad to acquire Northern Superchargers in £100 million deal

INDIAN Premier League franchise Sunrisers Hyderabad is set to become the first full owners of an English Hundred team after agreeing to buy Yorkshire’s Northern Superchargers for a reported £100 million.

The Sun Group will be the third IPL-linked investor in the eight-team Hundred competition, following Reliance Industries, which owns Mumbai Indians, and RPSG, which runs Lucknow Super Giants.

Keep ReadingShow less
BT-Getty

A view of the British Telecom (BT) headquarters in central London. (Photo: Getty Images)

BT to remove diversity targets from manager bonuses

BT will remove diversity, equity, and inclusion (DEI) targets from its manager bonus scheme, replacing them with a measure of overall employee engagement.

The change, set to take effect in April, follows consultation with major investors and has received “strong support,” according to the company, The Telegraph reported.

Keep ReadingShow less
India's central bank cuts interest rates for first time since 2020

The central bank announced a 25-basis-point cut in the benchmark repo rate to 6.25 per cent, the rate at which it lends to commercial banks.. (Photo credit: Reuters)

India's central bank cuts interest rates for first time since 2020

THE RESERVE BANK OF INDIA (RBI) reduced interest rates on Friday for the first time in nearly five years, citing concerns over economic growth despite inflation risks.

The central bank announced a 25-basis-point cut in the benchmark repo rate to 6.25 per cent, the rate at which it lends to commercial banks.

Keep ReadingShow less
Sri Lanka seeks to negotiate with Adani over renewable energy plants

Gautam Adani

Sri Lanka seeks to negotiate with Adani over renewable energy plants

SRI LANKA’S government started talks with India’s Adani Group to lower the cost of power from two wind power projects the group will build in the island nation’s northern province, the cabinet spokesman said last Tuesday (28).

Sri Lanka has been reviewing the group’s local projects after US authorities in November accused billionaire founder Gautam Adani and other executives of being part of a scheme to pay bribes to secure Indian power supply contracts. Adani has denied the allegations.

Keep ReadingShow less