HS2 costs rise £800m just weeks after construction starts October 14, 2020 The cost of controversial rail link HS2 has risen another £800m, the government has admitted, just six months after the project was newly approved. Ministers said that the extra costs were related to removing more asbestos than had been expected, as well as on developing the terminus at Euston station. The increases were revealed in [...]
Tube journeys hit highest number since lockdown October 14, 2020 There were more journeys made on the Tube last week than at any point since the beginning of lockdown in March, despite the imminent prospect of new restrictions being imposed on the capital. According to data from Transport for London, there were 1.56m such journeys made last Friday, beating the previous high of 1.52m. That [...]
Galliford Try wins place on £600m Thames Water programme October 14, 2020 Construction firm Galliford Try has won a place on two new lots on Thames Water’s new infrastructure improvement framework. The company’s environment business will work on the two projects, which could bring in as much as £240m over the next four years. The total pipeline of the project is valued at £590m, with Galliford Try [...]
Travel industry calls for ‘decisive’ action on airport testing October 14, 2020 The UK travel industry has urged the government to “act decisively” in putting in place airport coronavirus testing in order to save the £60bn industry. Trade body ABTA also called for ministers to provide targeted support for travel companies, many of which have been without any revenue this year. New figures from the association showed [...]
G4S profits swell due to tight cost control during coronavirus pandemic October 14, 2020 Security firm G4S said this morning that profit for the first nine months of the year was ahead of 2019 levels despite a dip in revenue as it clamped down on costs during the coronavirus pandemic. The group’s revenue fell two per cent, which was “more than offset by tight direct and indirect cost control [...]
Exclusive: TfL set for crunch talks as London bosses call on Sunak to solve cash crisis October 14, 2020 Exclusive: TfL set for crunch talks to solve cash crisis as London bosses call on Sunak to step-up to save services
WTO tells EU it can slap $4bn of tariffs on US over Boeing subsidies October 13, 2020 The EU has been given the go-ahead to slap tariffs on $4bn (£3.1bn) of US goods in the latest development in the subsidy saga involving Boeing and Airbus. It comes after the World Trade Organization (WTO) last year allowed Washington to tariff $7.5bn of EU goods over state support for European aeroplane manufacturer Airbus. The [...]
Four ferry firms sign £80m post-Brexit freight deal October 13, 2020 Four ferry firms have signed contracts with the Department for Transport (DfT) worth a combined £77.6m to provide freight services after Brexit. Brittany Ferries, DFDS, P&O and Stena Line will between them provide extra capacity for the equivalent of 3,000 heavy goods vehicles a week. The new contracts will ensure that vital medical supplies and other [...]
Global airlines get nearly £100bn in state aid and bailout funding October 13, 2020 Easyjet last week became the latest airline to indicate that it may need more money from the state to deal with the financial hammering it has taken at the hands of coronavirus. Around the world, governments have already splashed out a whopping £98.7bn on airlines, a figure that could jump by another $25bn (£19.3bn) if [...]
Mercedes recalls ‘compelling evidence’ of nitrogen oxide problem, lawyers say October 12, 2020 Lawyers building a class action against Mercedes alleging that the carmaker has deliberately engaged in emissions fraud said that the firm’s latest recall of diesel vehicles is “compelling evidence” that it has a nitrogen oxide emissions problem. London law firm Fox Williams says that the auto giant programmed an emission defeat device during test conditions [...]