The 17 London Underground stations facing severe overcrowding by the early 2030s if Crossrail 2 gets derailed include Clapham Common, Waterloo, Victoria and London Bridge | City A.M. July 18, 2017 Transport for London (TfL) has named the 17 London Underground stations set to face chronic overcrowding and measures such as regular closures and one-way systems by the 2030s, should Crossrail 2 fail to go ahead. Read more: These are the UK’s 12 most pressing infrastructure projects In the business case for the £31bn rail project, [...]
How the tobacco and vaping industries responded to the government’s new tobacco control plan July 18, 2017 The tobacco and vaping industries have largely welcomed a tobacco control plan released by the government today, which seeks to encourage a loosening of e-cigarette regulations after Brexit. The report, produced by the Department of Health, said the government would identify ways to de-regulate vaping after the UK leaves the European Union. These could include [...]
New £10 note featuring Jane Austen unveiled by Bank of England governor Mark Carney at Winchester Cathedral July 18, 2017 Bank of England governor Mark Carney has today unveiled the full design of the new £10 note featuring Jane Austen 200 years after the death of the famous author. Members of the public will be able to get their hands on the notes for the first time on 14 September 2017, a year after the [...]
Petropavlovsk’s positive first-half trading figures overshadowed by its chief exec’s resignation July 18, 2017 Petropavlovsk continued good progress on its 2017 turnaround as first-half production increased more than expected, but turbulent times are set to continue for the gold miner after its boss left the company yesterday. The Russia-focused miner revealed it produced around 232,400 ounces of gold in the first half, up 19 per cent from the previous [...]
UK private equity giant 3i sells stake in Barcelona-based funeral services company Memora | City A.M. July 18, 2017 UK private equity giant 3i Group has sold its stake in a Barcelona-based funeral services company. Memora, the biggest player in the Iberian market, has been snapped up by Canada’s Ontario Teachers’ Pension Plan. FTSE 100-listed 3i first invested in Memora, which has 115 parlours, 24 crematoriums, 13 cemeteries and 91 retail outlets, in 2008. [...]
If Brexiteers need a real reason to leave the EU, just look at Italy July 18, 2017 As the painful and quite frankly embarrassing stumble out of Europe continues for the UK, I watch with sadness at the pathetic lack of conviction of both the previous Remain and pro-Leave camps. It’s never been easier for this journalist to sit on the fence in splendid apolitical isolation given that the pro-Brexit camp doesn’t [...]
British Business Bank annual report: Lender provides £9.2bn to smaller UK companies July 18, 2017 The UK’s national economic development bank pumped £9.2bn into small businesses last year, a 24 per cent increase on the previous 12 months. The British Business Bank’s 2016/17 accounts show it recorded an increase, to four per cent, of adjusted return on capital employed, surpassing government targets. During the year, the BBB launched its first [...]
Bank of England and Mark Carney set out vision for a “less Libor-centric world” July 17, 2017 The Bank of England (BoE) has set out its vision for a “less Libor-centric world”. Governor Mark Carney wants interest rates used to price financial contracts to be based on market transactions, creating “near risk-free rates”, rather than the judgements of banks. The BoE and other central banks have been seeking alternatives to the London [...]
Turbot-charged: Fishing industry nets its strongest year since the financial crisis July 17, 2017 The British fishing industry netted its fastest profit growth since the global financial crisis last year, as a rising tide in prices lifted the UK fleet. Income rose by almost a fifth over the course of the year in 2016, its fastest since 2008, according to analysis by industry body Seafish, while operating income rose [...]
HS2: Carillion share price leaps as it bags contracts to build two sections of HS2, transport secretary Chris Grayling says July 17, 2017 The companies awarded £6.6bn of contracts to build the first stage of the UK’s largest-ever infrastructure project include Skanska, Balfour Beatty, Sir Robert McAlpine – and troubled construction giant Carillion. Transport secretary Chris Grayling named the companies appointed to build the southern, central and northern sections of the line this morning. When it is built, [...]