Business groups warn of delays for troubled HS2 July 21, 2019 Business groups have said they remain broadly supportive of HS2 despite the admission from its chairman that the costs of the project could spiral by as much as £30bn. Over the weekend it emerged that Allan Cook had written to Bernadette Kelly, permanent secretary at the Department for Transport (DfT), to warn that the [...]
Industry slams Labour plan to bring outsourced public services in-house July 21, 2019 Business leaders have pilloried a Labour policy announcement to bring local council jobs like construction, bin collection and school dinners in-house. John McDonnell this weekend said the party wants local councils to carry out the services themselves rather than pay companies to do it. The Confederation of British Industry’s chief UK policy director Matthew Fell [...]
Lufthansa resumes Cairo flights but BA suspension to continue for six days July 21, 2019 German airline Lufthansa has resumed flights to Cairo after temporarily suspending them, along with British Airways, over safety concerns. British Airways cancelled all flights to the Egyptian capital from Heathrow on Saturday over security fears and has said the suspension will remain in place for a further six days. Read more: British Airways set for [...]
Set sail for the 1700s: Why the shipping industry is returning to technology from the history books July 21, 2019 As countries and companies try to curb their climate impact, many are turning to space-age solutions. But the shipping industry is poring through the history books for inspiration. Sails are making a comeback as companies bid to drive down emissions and cut down on costs. But modern sails look very different from their ancestors. Read [...]
Shareholders rebel at Homeserve over ex-director payouts July 19, 2019 Shareholders dealt home repairs company Homeserve a bloody nose today as 30 per cent voted against the directors’ pay report. Read more: Homeserve maintains strong outlook as investors toast success across the pond Advisory firm Institutional Shareholder Services (ISS) had recommended Homeserve shareholders vote against the remuneration report – which lays out directors’ pay – [...]
CMA warns train passengers face higher prices if Abellio takes on East Midlands franchise July 19, 2019 The UK’s competition watchdog raised concerns today about higher ticket fares on two routes it is probing as part of an investigation into Abellio’s acquisition of the East Midlands franchise. Abellio’s ownership of Greater Anglia means it would operate a monopoly on the Norwich to Ely and Thetford to Ely routes as it would then [...]
London Underground: Entire Tube network set for 4G coverage by mid-2020s July 19, 2019 Londoners will be able to use the 4G mobile network anywhere on the Tube by the mid-2020s under plans unveiled by Transport for London. The first passengers to benefit from the roll out on the underground will be those using the Jubilee Line, with the eastern part of the line spanning from Westminster to Canning [...]
MPs blast Crossrail bosses’ huge bonuses as £17.6bn Elizabeth Line costs set to increase July 19, 2019 Crossrail bosses pocketed huge performance bonuses even as London’s huge rail network programme fell disastrously off track, MPs revealed today, warning that project costs could continue to rise. The £17.6bn Elizabeth Line was originally due to open in December 2018 but management recently admitted large swathes of track may not be operational until at least [...]
Acacia accept increased takeover bid from Barrick July 19, 2019 Acacia Mining has agreed to sell its remaining shares to Barrick Gold Corp in a deal that values the firm at £951m and has sent its share price soaring by 18 per cent. It comes after a two-month stand-off between the world’s second largest gold miner and its African unit, Acacia, which was formed into [...]
Boeing takes $4.9bn hit on 737 Max groundings to compensate airlines July 18, 2019 Boeing will set aside $4.9bn (£3.9bn) to compensate airlines for the disruption caused by the worldwide grounding of its 737 Max jet. The world’s biggest plane maker said this evening the after tax charge would slash its pre-tax profits by $5.6bn in the second quarter, when results are announced next week. Read more: Ryanair warns [...]