Virgin Flying Taxi

 

Virgin Atlantic is exploring whether it could launch a flying taxi service as part of a partnership with Bristol-based Vertical Aerospace. Several companies have promoted the idea of autonomous "flying taxis" that could pick passengers up from rooftops in city centres and take them wherever they would like to go. Virgin Atlantic's suggestion is slightly tamer. It has proposed that an eVTOL aircraft could pick people up from a city such as Cambridge and fly them to a major airport such as London Heathrow. Vertical Aerospace says its VA-X4 craft will be able to carry four passengers and a pilot up to 100 miles, as well as being emissions-free and quieter than a helicopter. In fact the company claims it will be "near silent" when cruising. It has already partnered with American Airlines and Avolon, an aircraft-leasing company. But more lavish visuals of air taxis carrying passengers from one skyscraper to another would require new air-traffic control technology, public acceptance of more aircraft in cities, improvements in automation and regulatory change that could be a decade away. On Thursday, Vertical Aerospace announced plans for the company to be floated on the New York stock exchange after a merger with Broadstone, in a deal valuing the company at $2.2bn (£1.6bn).

Air Taxi

JD Bonus Scandal

 

JD Sports is facing an investor backlash after handing its boss a £4.3m bonus despite benefiting from millions of pounds in Covid support. Executive chairman Peter Cowgill's total pay, including a short-term salary reduction, reached nearly £5m.The retailer received £61m through the UK furlough scheme and an estimated £38m in business rates relief. It benefitted from an additional £25m in wage support from other countries where it operates, including the US. JD Sports was also granted a £300m loan through the Bank of England's Covid Corporate Financing Facility Scheme which was set up to help larger firms through the pandemic. JD Sports said it had not used any of the loan by the time the scheme closed in March. As a non-essential retailer, JD Sports was forced to close during lockdown. However, the company, which has stores across the UK, Europe, the US and Asia Pacific, reported a 0.9% rise in revenues to £6.1bn as it shifted sales to online. Pre-tax profit fell by 7% to £324m. JD Sports will hold its annual general meeting on 1 July when shareholders will be invited to vote on the company's remuneration report alongside other resolutions.

JD Sports Bonus

Hornby Steams Ahead

 

Model railway maker Hornby has reported a big jump in annual sales after people rediscovered their love of hobbies during lockdown. The firm, which also sells Scalextric, had sales of £48.5m for the year to 31 March 2021, up 28% on the year before. It said children and adults alike had bought its toys in the pandemic as they sought "comfort" in stressful times. Chief executive Lyndon Davies said recent sales figures indicated the momentum would continue. "Model railways, Scalextric sets running around the attic. Yes, there's been a lot of engagement from people.More time spent indoors allowed former hobbyists to reconnect with the toys, models and products that they grew up with, Mr Davies said. "The parents or grandparents rediscover their old hobbies and then they share it with their kids. One third of the industry's sales of children's toys, models and puzzles have been sold to older generations, a segment of the market the industry calls "kidults". Online sales and renewed interest from older consumers helped Hornby make a net profit of £300,000 for the year to 31 March, an improvement on the £3.4m loss for the previous 12 months. However, Mr Davies said the retailer was more concerned with shipping issues causing supply chain disruption than it was about an end to lockdowns. Hornby, which imports many of its products from East Asia, was affected by closures at Chinese ports due to coronavirus.

Hornby Sales

Worker Shortage

 

Domino's Pizza is hiring 5,000 cooks and delivery drivers, as staff who joined during the pandemic head back to former roles. The fast-food chain said it had recruited thousands of workers in the last year to keep up with demand. Recruits included event managers, taxi drivers and hairdressers, unable to carry out their work due to lockdowns. However, as Covid restrictions have eased, many employees are returning to their old jobs. It comes days after reports that hospitality venues are now struggling to fill thousands of vacancies. Domino's operations director Nicola Frampton said the group was "overwhelmed" by the response of applicants last year. In March 2020, the chain created 6,000 additional roles due to an increased need for delivery drivers during the first Covid lockdown. Uncertainty over the future stability of the industry and Brexit were cited as being the main reasons for the shortage. Many staff have been laid off over last 14 months, as venues struggled to survive through lockdowns, despite various government support schemes.

Worker Shortage

Weetabix Strike

Weetabix workers have voted to strike over a row about pay and conditions. About 80 engineers at sites in Northamptonshire will take part in one-day strikes, which could lead to product shortages, union Unite said. New work patterns would result in cuts in shift allowances, meaning some workers could lose up to £5,000 a year, Unite added. Weetabix said it was "disappointed" by the ballot but "confident" that product shortages could be avoided. Unite said Weetabix had issued the engineers with new contracts and work patterns and there would also be a move to require more day working than shift working, further contributing to the cut in pay. There were also concerns about the health and safety of workers due to the low number of engineers on duty at certain times, the union said. The strikes are still to be scheduled but are due to take place during June, July and August.

Weetabix Strike

Ketchup Production Returns to UK

Kraft Heinz says it will invest $199m (£140m) in a UK food manufacturing facility over the next four years. The plans for the plant in north west England would see British favourites - ketchup, mayonnaise and salad cream - made in the country once again. It would be the firm's biggest expansion of a manufacturing site outside the US in more than 20 years. The company said it is also one of the largest investments in UK manufacturing since Brexit. The plan, which is subject to approval in the US, will also fund equipment and technology and create up to 50 new full-time jobs, the company said. The Kitt Green plant on the outskirts of Wigan is Europe's largest food manufacturing site, making 1.3 billion cans of food a year. Under the plan, it will start making sauces, as well as continuing to make soups, pasta and baked beans. Heinz sauces were last made in the UK in 1999.

Ketchup Relocation

Colgate Make A Dent in Toothbrush Landfill

 

Our landfills are a graveyard for old, plastic toothbrushes. Last year, 495 million nonelectric toothbrushes were purchased in the U.S. They’re not recyclable, which means the vast majority get tossed or end up in the ocean. Colgate, which sells 30% of the world’s toothbrushes, is trying to cut down on this waste. Today, it launches Keep, a redesigned manual toothbrush that contains 80% less plastic. At first glance it looks like a traditional toothbrush. But upon closer inspection, you’ll see that the handle is made from aluminum, designed to last a lifetime. The brush head, which is made from plastic, snaps onto the handle and is replaceable, though not recyclable. Major companies have the potential to have a much bigger impact, and some are slowly beginning to roll out more sustainable products.

Recycle Toothbrush