South Western Railway to compensate passengers hit by December’s strikes February 18, 2020 South Western Railway (SWR) has announced it will compensate passengers affected by December’s RMT union strikes for the cost of five days’ travel. The embattled rail franchise said that although it had carried roughly 80 per cent of its normal passenger burden for that time of the year, it had decided to offer additional compensation [...]
Extinction Rebellion occupies HS2 drilling rig in West London February 18, 2020 Extinction Rebellion have this morning occupied a drilling rig at an HS2 site in West London, claiming that the drilling could contaminate an aquifer which provides almost of quarter of London’s drinking water. Two members of the activist group, including Paralympian James Brown, have climbed onto the roof of the vehicle and have unfurled a [...]
London’s Tube is the world’s most dog-friendly subway system February 18, 2020 The London Underground has been rated as the world’s most welcoming subway system for four-legged locals. A report, by apartment rental company Essential Living, revealed that the Tube was the most dog-friendly subway in the world, coming ahead of the Tokyo Metro and the Madrid Metro. They are followed by subways in Paris, Seoul, New [...]
Tube fare dodging rates spike by almost 30 per cent February 17, 2020 Instances of fare dodging have increased by almost 30 per cent since 2016, leading to £116m of lost revenue for Transport for London (TfL) in a single year. TfL statistics, released by City Hall, show the number of warnings, penalty notices and prosecutions for fare dodging rose from 87, 948 in 2016-17 to 112,266 in [...]
DfT unveils plan to head off Brexit-induced mega traffic jams in Kent February 17, 2020 The government is to deploy a San Francisco-style moveable barrier in the hope of avoiding Brexit-induced mega traffic jams throughout Kent. The £60m moveable barrier, creating a temporary contraflow system, can be set up “within hours” and will be available from December, transport secretary Grant Shapps revealed this morning. Although the UK has officially left the [...]
Bakerloo Tube strike this weekend means FIVE London Underground lines will be out of action February 17, 2020 London commuters are bracing for travel chaos over the weekend as nearly half of all Underground lines are set to be closed amidst a Tube strike. Bakerloo line drivers from the National Union of Rail, Maritime and Transport Workers (RMT) are expected to walk off the job on Friday for a three-day strike over a [...]
Alstom confirms Bombardier merger talks February 17, 2020 French train manufacturer Alstom has confirmed talks to purchase the rail division of Canadian firm Bombardier are ongoing. The proposed deal could be worth $7bn on an enterprise value basis, Reuters has reported. Reports of the merger came last week, quoting a French TV station, that Alstom’s board was set to make an offer. “Alstom [...]
Tesla’s short-selling critics do not have to be rewarded to be right February 17, 2020 Short-selling, or shorting, is the act of betting against a company’s stock. If the share price goes down, the short-seller makes money. If the share price goes up, they lose it. It is the most rhetorical of investments. A short position is a statement of a belief: a minority opinion held against the will of [...]
Coronavirus: F1 owner braces for £33m hit as Shanghai Grand Prix stalls February 16, 2020 Formula One has revealed that it risks losing its estimated $33m hosting fee for the Chinese Grand Prix if the authorities in Shanghai give the red light to the race over the coronavirus outbreak. The Chinese Grand Prix was due to take place in Shanghai in April but was postponed by F1 last week at the request [...]
Rail franchising model ‘set to be scrapped’ in coming weeks February 16, 2020 Boris Johnson is set to dramatically overhaul the nation’s rail network by scrapping the rail franchise model and capping profits by private providers. Former British Airways boss Keith Williams was drafted to conduct a review of Britain’s railways last year, with the report set to be released in the coming weeks. It’s now expected that [...]