Wednesday newspaper round-up: Tideway, cyclists, corporate insolvencies

by | Aug 17, 2022

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The executive overseeing construction of London’s “super sewer” under the Thames has been awarded bonuses that doubled his pay to nearly £1m despite delays and cost over-runs on the flagship project. With executive pay in the water industry already under scrutiny, Tideway has revealed it paid its chief executive, Andy Mitchell, a total package of £928,000 for the year to 31 March 2022, up 7.5% from £863,000 a year earlier. – Guardian
Bikes could be made to have registration plates and insurance as ministers weigh up bringing speed limits for cyclists into line with those for drivers. The government is also considering the possibility of cyclists receiving licence penalty points and fines if they break speed limits or run red lights, the Daily Mail reported. – Guardian

Germany plans to keep its remaining nuclear power plants open for longer in a major U-turn as it scrambles to keep the lights on this winter with less Russian gas. Officials have concluded the plants are needed due to gas shortages and they can be kept open without safety concerns, the Wall Street Journal reported. – Telegraph

The world’s biggest airline has announced a deal to buy a fleet of new high-tech jets dubbed the “son of Concorde”, setting up the return of supersonic transatlantic flights by the end of the decade. American Airlines on Tuesday agreed to purchase up to 20 Overture aircraft from Boom Supersonic, with an option to extend the order to 40. – Telegraph


Corporate insolvencies rose by 7.5 per cent last month compared with June and were 27 per cent higher than they were three years ago, before the pandemic struck. The Insolvency Service said yesterday that there had been 1,827 company insolvencies in England and Wales last month, 67 per cent higher than a year ago. – The Times

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