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Lime bike trips spike as Londoners seek alternative travel amid Tube strikes

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Lime bike trips spike as Londoners seek alternative travel amid Tube strikes



E-bike usage has spiked in London as commuters sought alternative ways to get around the city while strikes shut down Tube services.

Lime revealed a more than 50% jump in trips during rush hour traffic on Monday and Tuesday, rising to three-quarters by Wednesday.

It coincided with a strike by London Underground workers with thousands of members of the Rail, Maritime and Transport union (RMT) walking out during the week.

The company, which operates rental e-bikes and e-scooters in towns and cities around the world, said people had been taking longer journeys this week.

On Monday between 7am and 11am, the total number of trips taken surged by 58%, compared with the same period the previous week.

The duration of trips rose by 37% and distances increased by 24%.

Momentum continued into Tuesday, where total trips increased by 50%, while the duration surged by 41% and distance rose by 28%, compared with the same period a week ago.

By Wednesday, the number of trips had surged by 74% week-on-week, the company said.

Hal Stevenson, Lime’s UK and Ireland director of policy, said the data shows how London workers are using its bikes to “plug the gaps left by public transport”.

“Journeys were longer in both distance and duration, indicating that many riders relied on Lime for their entire commute rather than just the first or last mile,” he said.

Lime has “stepped up operations across the city” to meet the surge in demand, Mr Stevenson said.

“Our driver team has been on standby to keep vehicles in service, whether through fresh batteries or rebalancing overcrowded bays, and we are continuing to increase foot patrols in central London to keep high-demand areas clear.”

The City of London Corporation recently launched a crackdown in response to a number of complaints about e-bikes being left in unsuitable places.

The local authority said in February that more than 100 that were blocking pavements had been seized during a two-week operation.



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RBI sees no signs of excess credit risk, keeps countercyclical capital buffer inactive

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RBI sees no signs of excess credit risk, keeps countercyclical capital buffer inactive


The Reserve Bank of India (RBI) on Monday decided against activating the countercyclical capital buffer (CCyB), indicating that current financial and credit conditions do not warrant an additional capital requirement for banks, PTI reported.The central bank said the decision followed a review and empirical assessment of indicators used under the CCyB framework.“Based on review and empirical analysis of CCyB indicators, it has been decided that it is not necessary to activate CCyB at this point in time,” RBI said in a statement.Under the RBI (Commercial Banks – Prudential Norms on Capital Adequacy) Directions, 2025, the CCyB framework is activated when financial conditions indicate rising systemic risks linked to excessive credit growth.The framework primarily relies on the credit-to-GDP gap as a key indicator, along with supplementary metrics.According to the RBI, the CCyB mechanism is intended to serve two broad objectives.Firstly, it requires a bank to build up a buffer of capital in good times, which may be used to maintain the flow of credit to the real sector in difficult times.Secondly, it achieves the broader macro-prudential goal of restricting the banking sector from indiscriminate lending in the periods of excess credit growth that have often been associated with the building up of system-wide risk.The framework was introduced globally after the 2008 financial crisis as part of measures proposed by the Group of Central Bank Governors and Heads of Supervision (GHOS) under the Basel framework to strengthen financial system resilience.



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Ford boss hints at return of Fiesta as an electric model

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Ford boss hints at return of Fiesta as an electric model



The company has announced plans to build seven new models in Europe including a small electric hatchback.



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UK growth forecast upgraded by IMF but ‘risks’ remain

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UK growth forecast upgraded by IMF but ‘risks’ remain


“Today’s policymaking is constrained by a more volatile external environment with more frequent and overlapping shocks, a rising public interest bill, in part reflecting market concerns with countries’ elevated debt, and the long-standing challenge of weak productivity growth,” he said.



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