Galliford Try expects profits to be in line with expectations July 17, 2019 Galliford Try said today that the restructuring of its construction arm has been completed and pre-tax profits for the year are set to be in line with expectations. The FTSE 250 giant, which has been cutting its exposure to Central London’s subdued housing market and scaling back its core construction business, seemed to ease investor [...]
Tulip tower: Developers will meet to consider appeal after Khan halts project July 16, 2019 Backers of the proposed Tulip tower will meet this week to consider an appeal against Sadiq Khan’s decision to reject their planning application, City A.M. understands. US-based developers the Tulip Project said they were “disappointed” the mayor stopped the project at the final hurdle. They maintained the tower would “generate immediate and longer-term socio-economic benefits [...]
HS2 locks horns with Bechtel in bid to break contract stalemate July 16, 2019 HS2 has asked the High Court to allow it to push on with the construction of one its London stations despite an ongoing legal challenge from engineering giant Bechtel. HS2 Limited, which is overseeing the proposed £56bn railway linking London to the north, has applied to lift the “automatic suspension” that is preventing it from [...]
UK rail franchising system has ‘had its day’, says review head July 16, 2019 The UK’s rail franchising system has “had its day”, the man in charge with reviewing Britain’s railways has said. Former British Airways chief executive Keith Williams, who is leading a government-commissioned review into how to improve the industry, said the franchising model needed to be replaced by a “new commercial model” that worked in the [...]
Boss of First Group’s US cash cow quits July 15, 2019 The boss of First Group’s largest business has resigned as the company continues to suffer from the fallout of an activist rebellion, City A.M. can reveal. Dennis Maple, the president of First Student, the largest provider of student transportation in North America, is understood to have taken up a role at another company after serving [...]
Tory mayoral hopeful Shaun Bailey calls for ‘pause’ on HS2 July 15, 2019 Tory mayoral hopeful Shaun Bailey has said High Speed Two (HS2) should be “paused” and investment redirected to the north as the project’s future hangs in the balance. Bailey called HS2, the £56bn railway that will connect London to the north via Birmingham, an “overpriced scheme based on outdated technology” that was “crowding out the [...]
Laurent Koscielny: a pre-season protest that threatens to worsen the leadership void at Arsenal July 15, 2019 Arsenal captain Laurent Koscielny’s attempt to force a move away from the club by refusing to travel on their pre-season tour of the US has been greeted with shock and deja-vu in equal measure. Shock that such an unapologetic show of petulance would come from Koscielny, who, in his nine years at the club, has [...]
Former BA operations chief to head up London Underground July 15, 2019 A former British Airways chief is to join Transport for London (TfL) as its new managing director of the Underground, taking over from the incumbent Nigel Holness. Andy Lord worked at BA for 25 years before progressing to the role as director of operations from 2008 to 2015. He also held the role of executive [...]
Uber rival Via Van wins three-year licence renewal from TfL July 15, 2019 Ride-sharing service Via Van has had its London licence renewed for the next three years, following its launch in the capital last year. The three-year licence renewal puts Via Van ahead of rivals Uber and Kapten, which are operating on a probationary 15-month licence and a 12-month licence respectively. Read more: Mercedes-backed ViaVan launches weekly [...]
And we’re off: Citigroup starts Wall Street earnings season with rise in profit July 15, 2019 Citigroup kicked off Wall Street’s earnings season today by trumping market expectations, reporting a rise in profits and revenues during the second quarter of 2019. America’s third largest bank posted profit of $4.79bn (£3.82bn), or $1.95 per share, during the three month period, rising 20 per cent and beating $1.80 per share estimates given by [...]