Punch faces tussle with its investors July 1, 2009 HEAVILY indebted pub chain owner Punch Taverns is facing opposition from major shareholders to its plans to raise £375m in a share sale. Greenlight Capital, the US hedge fund, and QVT Financial are believed to be among those who will vote against the fund raising at the group’s AGM in protest at the potential dilution [...]
Nat Exp east coast to be nationalised July 1, 2009 THE loss-making east coast rail line is set to be renationalised after National Express, which currently operates the franchise, failed to renegotiate its funding contract with the Department for Transport (DfT). National Express currently runs services on the line between London and Edinburgh. But the firm is walking away from the line after it failed [...]
Nat Exp east coast to be nationalised July 1, 2009 THE loss-making east coast rail line is set to be renationalised after National Express, which currently operates the franchise, failed to renegotiate its funding contract with the Department for Transport (DfT). National Express currently runs services on the line between London and Edinburgh. But the firm is walking away from the line after it failed [...]
Q & A: EAST COAST RAIL LINE July 1, 2009 Q.WHY IS THE EAST COAST RAIL LINE STRUGGLING?A.The franchise – along with other train operators – is struggling as the downturn results in both leisure and business travellers cutting back on travel. It is also losing out on its premium passengers, as those who are still travelling stay away from first class travel. Rising fuel [...]
Q & A: EAST COAST RAIL LINE July 1, 2009 Q.WHY IS THE EAST COAST RAIL LINE STRUGGLING?A.The franchise – along with other train operators – is struggling as the downturn results in both leisure and business travellers cutting back on travel. It is also losing out on its premium passengers, as those who are still travelling stay away from first class travel. Rising fuel [...]
CITY VIEWS: WAS THE GOVERNMENT RIGHT TO NATIONALISE THE EAST COAST RAIL LINE? July 1, 2009 RANJIT BAHAD DAIWA SECURITIES “It’s right to take it out of the hands of National Express if they’re not doing a good enough job. Still, where’s the money going to come from to run the line? We’ve got such a big debt burden and running this line is going to be costly.” SARAH SKINNER LLOYD [...]
CITY VIEWS: WAS THE GOVERNMENT RIGHT TO NATIONALISE THE EAST COAST RAIL LINE? July 1, 2009 RANJIT BAHAD DAIWA SECURITIES “It’s right to take it out of the hands of National Express if they’re not doing a good enough job. Still, where’s the money going to come from to run the line? We’ve got such a big debt burden and running this line is going to be costly.” SARAH SKINNER LLOYD [...]
UK’S MAIN RAIL FRANCHISES July 1, 2009 ARRIVA WALES Shrewsbury – Swansea line. It also covers Cardiff, Manchester and Birmingham FIRST CAPITAL CONNECT A FirstGroup franchise, it runs from Bedford to Brighton via Luton. Also Luton to Wimbledon and Sutton. NATIONAL EXP. EAST ANGLIATrains run from London Liverpool Street to Sheffield, Chelmsford, and Peterborough. SOUTH WEST TRAINSPart of Stagecoach group, it was [...]
UK’S MAIN RAIL FRANCHISES July 1, 2009 ARRIVA WALES Shrewsbury – Swansea line. It also covers Cardiff, Manchester and Birmingham FIRST CAPITAL CONNECT A FirstGroup franchise, it runs from Bedford to Brighton via Luton. Also Luton to Wimbledon and Sutton. NATIONAL EXP. EAST ANGLIATrains run from London Liverpool Street to Sheffield, Chelmsford, and Peterborough. SOUTH WEST TRAINSPart of Stagecoach group, it was [...]
Madoff victim fund stands at 140m as the hunt goes on July 1, 2009 THE SECURITIES Investor Protection Corporation (SIPC) said yesterday a total of $231m (£140m) has so far been committed to pay for claims from victims of Bernard Madoff’s fraud, with a further $2.74bn “authorised for potential future recovery.” The group, which was established by the US Congress in 1970 to help swindled investors, said that the [...]