Trainline on track as it posts big sales boost in first results since IPO July 2, 2019 Trainline’s chief executive today hailed last month’s “successful” float as the company showed a big jump in ticket sales last quarter. Net ticket sales rose 20 per cent to £906m, the firm said. A 27 per cent increase in revenue from tickets sold to UK consumers helped boost the figures. Read more: Trainline owner mulls [...]
Stagecoach shares drop after Deutsche Bank cuts target price July 1, 2019 Shares in train and bus operator Stagecoach fell four per cent this morning to 121.7p after Deutsche Bank slashed its target price. Read more: Stagecoach profits rise despite UK rail franchise loss The broker lowered the shares’ target price to 155p from 170p. The bank said this would allow stable profitability in 2020-21 and a [...]
Aston Martin’s biggest shareholder to make £68m bid to increase its stake July 1, 2019 Aston Martin’s largest shareholder, Investindustrial, is looking to increase its stake in the carmaker by a further three per cent. It comes nine months after the luxury brand saw its shares crash by almost 50 per cent following its initial public offering. Read more: Ford to cut 12,000 jobs across Europe and close down five [...]
Dubai port owner DP World snaps up Topaz Energy in $1bn deal July 1, 2019 Port operator DP World has bought Topaz Energy and Marine for $1bn (£789m) from Standard Chartered and Renaissance Services. The Dubai-based firm, which is the world’s largest port operator, today confirmed it has secured the takeover subject to regulatory approval. Read more: Dubai port owner DP World holds steady as home market shrinks Topaz provides [...]
Industries face an existential crisis unless they adopt long-term green strategies July 1, 2019 Climate change is one topic that has managed to rise above both Brexit and the Tory leadership campaign in the news agenda. The future of the environment is an issue that affects us all, not least the City. That is why tomorrow’s Green Finance Summit is an important opportunity to bring together green leaders from [...]
UK readies for no-deal Brexit with fresh freight plans June 29, 2019 The government is asking transport firms to make an offer to provide extra freight capacity that would be used in the event of a no-deal Brexit at the end of October. More than £85m was wasted in the lead up to the initial date the UK was due to leave the EU following a rushed [...]
Union ballots staff over ‘deeply damaging’ nationwide rail strike June 28, 2019 Train drivers are set to vote on the first nationwide rail strike in a generation as union bosses lashed out against the government over pension arrangements. Read more: Londoners brace for summer Tube strike The Rail, Maritime and Transport (RMT) union will ballot thousands of members on whether to hold national industrial action over fears [...]
Costain shares sink 40 per cent on profit warning June 28, 2019 Costain’s share price plunged this morning as it warned investors that contract delays would hit revenue and profit for this financial year. Later start dates for projects like the M6 smart motorway and the southern section of High-Speed Rail 2 are set to push revenue “lower than anticipated”, Costain said in a trading update. Read [...]
London City Airport is grounded in sustainability June 28, 2019 Despite the political and economic uncertainty, London is continuing to grow and is expected to remain a major global city for business and tourism. London’s population has increased every year since 1988 and currently stands at almost 9m. Brexit may have cast a temporary cloud over London’s short-term prospects, but new corporate offices are still [...]
TfL revises junk food ad ban after rules spark confusion June 27, 2019 Transport for London (TfL) has overhauled the guidelines for its junk food advertising ban after critics slammed it as “absurd” and “confusing”. TfL has been forced to clarify the details of its new ban, which is aimed at tackling childhood obesity, just four months after it was brought into force. Read more: Critics slam ‘absurd’ [...]