TfL forecasts costs of fixing bridges and tunnels will exceed £35m May 17, 2022 Fixing London’s tunnels and bridges will cost Transport for London (TfL) a total of more than £35m by financial year 2024/2025. According to documents released ahead of tomorrow’s committee meeting, TfL has set aside £6.8m for interim and reactive safety measures during the coming financial year, spending £6.2m last year on interim and reactive safety [...]
UK bus output on pathway to recovery while HGVs slump because of headwinds May 17, 2022 The UK’s bus and coach output is on the pathway to recovery while HGVs continue to slump because of Covid-induced supply chain issues. According to quarterly data released today by the Society of Motor Manufacturers and Traders (SMMT), the UK new bus and coach market grew by 45.2 per cent following the end of all [...]
Exclusive: Forget expensive climate plans, low-cost solution to net zero is methane abatement, says Qnergy CEO May 17, 2022 It’s six months on from COP26 and the world is a very different place, but as the war in Ukraine continues and the cost of living crisis bites closer to home, the promises made in Glasgow still stand. Net zero is the big goal, but CEO of energy firm Qnergy, Ory Zik, told City A.M. today he [...]
Morrisons owner CD&R eyes £2.5bn takeovers of facilities management titans May 17, 2022 Morrison private equity owner is reportedly planning to snap up and merge two facilities management firms. Clayton Dubilier & Rice (CD&R) is in discussions to buy significant stakes in Atalian Servest and OCS, Sky News reported. Last year, the New York-based private equity firm clinched a £7bn deal to takeover the grocer Morrisons. The deals [...]
Royal welcome: Queen attends official opening of long awaited Elizabeth Line May 17, 2022 The Queen amazed everyone when she attended the official opening of the Elizabeth Line on Tuesday morning. The monarch was pictured at Paddington station, where she was welcomed by Prime Minister Boris Johnson, London mayor Sadiq Khan and Transport for London (TfL) commissioner Andy Byford. The Queen, 96, met with Crossrail workers and was presented [...]
Rail could cost £6bn per year without government reform May 17, 2022 Maintaining the railway sector without government reform could cost up to £6bn of taxpayers’ money a year, warned a report published today. An analysis by UK think tank Centre for Policy Studies (CPS) argued that without a complete makeover, the network will fall into a decline and underinvestment scenario that could force the government to [...]
Cazoo’s boss Chesterman buys $1m worth of shares following price slump May 16, 2022 Cazoo’s chief executive Alex Chesterman bought $1m worth of company shares last week after the online automotive retailer’s price slumped. Following the purchase, Chesterman’s stake in the company has gone up to over 23 per cent to more than $250m, Sky News first reported. “Whilst the current macroeconomic climate has driven heightened fear in the [...]
Uber brings subscription service Uber One to the UK later this month May 16, 2022 Uber has announced it will bring its subscription service Uber One to the UK later this month. Established to rival the likes of Deliveroo Plus and Amazon Prime’s food delivery services, Uber One will give customers free delivery on Uber Eats as well as discounts on rides. “We know users across our platform have been [...]
Railway industry sets up contingency plans ahead of potential RMT strike May 16, 2022 The UK railway industry has set several contingency plans ahead of a potential strike by the union RMT, which could involve up to 40,000 workers. Network Rail said it had measures in place to “better understand the disruption it may cause to passengers and freight services.” The government-owned railway operator said it was working with [...]
Ryanair to revert to second-hand market if Boeing doesn’t step up, warns O’Leary May 16, 2022 Ryanair could revert to buying aircraft from the second-hand leasing market if Boeing were not to step up, according to the airline’s boss Michael O’Leary. O’Leary told analysts today the airline was willing to remain with Boeing but said the plane manufacturer’s management needed to “bloody well improve,” as they were “running around like headless [...]