‘Unforgivable’: Property tycoon Robert Tchenguiz blasts First Group management amid calls for sale of US assets November 18, 2019 Directors at First Group have been branded “immature” by major investor and property tycoon Robert Tchenguiz, as shareholders demanded the struggling transport giant launch a full strategic review and sell off its US businesses. The bus and rail operator is in the process of selling its US coach service Greyhound, but said earlier this year [...]
Airbus announces mammoth Middle Eastern jet orders worth more than $30bn November 18, 2019 Airbus has announced orders for more than 170 planes this morning, in a mammoth set of deals valued at more than $30bn at list prices. Air Arabia, a low-cost Emirati carrier has ordered 120 narrow-body planes including the A320neo and A321 XLR models, while Dubai government airline Emirates placed an order for 50 of the [...]
Boeing receives vote of confidence in 737 Max from Turkish airline Sun Express with $1.2bn order November 18, 2019 The annual Dubai air show kicked off this week with billions of pounds-worth of aircraft deals, including a substantial order for 10 Boeing 737 Max jets which remain grounded worldwide after two fatal crashes. Turkish airline Sun Express, which already has 32 of the planes on order, put its faith in the under-fire US manufacturer [...]
Sadiq Khan confirms 2020 TfL fare freeze November 18, 2019 Transport for London (TfL) fares will remain unchanged in 2020, Sadiq Khan has confirmed. The mayor of London’s fare freeze is now into its fourth year, after promising to not rise TfL prices in his first term. Read more: Victoria line drivers prepare for November Tube strike The freeze will continue after next may’s London [...]
Labour’s nationalisation plans: The threat and opportunity November 18, 2019 | City Talk The Labour Party is expected to release its manifesto this week, with leader Jeremy Corbyn promising to publish “the most transformative, radical and exciting programme ever put before the British electorate”. The party is set to recommit to some of its major pledges made in 2017, including plans to bring energy, water, rail and mail [...]
Eddie Stobart: Andrew Tinkler says Stobart Group supportive of his proposal to rescue struggling haulier November 17, 2019 Former Stobart Group chief executive Andrew Tinkler said the Stobart Group is supportive of his proposal to save struggling haulier Eddie Stobart, despite the bad blood between the pair. Tinkler told City A.M. that he was putting together a £50m package to save the business and said existing shareholders could raise up to £25m on [...]
Crossrail to pay out millions more to firm hired to keep project on track November 16, 2019 Crossrail is set to pay out additional incentives worth millions of pounds to a US company originally hired to keep the project on track and in budget. Officials on the taxpayer-funded railway scheme are close to agreeing a deal with US partner Bechtel for a new “incentive scheme” in the next few weeks, the New [...]
Average commute increases to 59 minutes per journey, TUC study reveals November 15, 2019 Commuters are spending around 221 hours on average each year getting to and from work according to new research. The average journey to or from work took 59 minutes last year, a study by Trades Union Congress (TUC) revealed. Read more: Toxic tube a health hazard for commuters It is more than five minutes longer [...]
Interserve CEO Debbie White confirms exit plan November 15, 2019 Interserve chief executive Debbie White has announced she will step down at the end of the year after implementing a turnaround plan at the company. The outsourcer also revealed a new operating structure, separating the group into three business divisions – construction, equipment services and support services – which will each be led by a [...]
Watchdog pauses investigation into First Group’s West Coast Rail franchise November 15, 2019 The UK’s competition watchdog has paused its investigation into the decision to award the West Coast Rail franchise to First Group after the company offered to make changes to the deal. The Competition and Markets Authority (CMA) said last week it would escalate its probe into First Group’s joint venture with Trenitalia on the route unless [...]