Long-suffering users of Gospel Oak to Barking line finally see electric trains come into service May 23, 2019 Commuters on the poor-performing Gospel Oak to Barking line will finally be given four new electric trains after enduring months of delays and disruption. Users of the line were told a number of times that the electric trains, built by Bombardier, would come into service only to be disappointed by repeated delays caused by software issues. [...]
Tube chaos: Severe delays hit Tube lines after Underground fire alert hits Jubilee Line commuters May 23, 2019 A fire alert at Bond Street station left commuters' journeys in tatters today as the Jubilee Line was struck with severe delays and left part suspended for most of the morning. Read more: Revealed: These are London's most stressful Tube stations There was no service on the Jubilee Line between Finchley Road and Waterloo this [...]
Thomas Cook share price drops after agencies cut credit rating May 23, 2019 Thomas Cook's share price has nosedived by nearly six per cent after two agencies downgraded the troubled travel agency into the lowest credit category. Fitch and S&P Global both slashed the firm's rating to a CCC+, meaning they both doubted the group's ability to pay its debt if the sale of its airline did not go [...]
United Utilities profits rise as it worries over ‘uncertainty’ of Corbyn’s nationalisation May 23, 2019 United Utilities said the prospect of nationalisation was causing uncertainty in the water sector as it pushed its work to help customers this morning. The figures Revenue at the listed water company grew 4.8 per cent to £1.8bn in the year ending March, the firm revealed today. Read more: Severn Trent chairman to step down [...]
Major multi-national fraud probe into Airbus could settle this year May 23, 2019 Airbus could reach a settlement with British, French and US authorities in a long-running fraud investigation as soon as this year, sources with knowledge of the case told City A.M. The UK’s Serious Fraud Office (SFO) opened an investigation into Airbus’ use of third party consultants to win international aircraft orders in August 2016. French [...]
TfL delays investment to ‘future years’ as debt climbs to £11bn May 22, 2019 Transport for London (TfL) delayed nearly half a billion pounds in capital spending during its latest financial year, while its debts climbed past £11bn. Borrowing, which is one of TfL's core funding streams, increased by £728m over the year to a total of £11.2bn, according to TfL board papers filed today. Last year a London [...]
TfL will use your Wi-Fi data to help you avoid Tube delays May 22, 2019 Transport for London (TfL) will soon begin collecting depersonalised Wi-Fi connection data to improve passenger information on the Tube. Read more: TfL rakes in £220,000 a day from Ulez pollution charge From 8 July, TfL will start gathering data from Underground stations with Wi-Fi to gather more information on how people use the Tube. It says this [...]
Gas grid Cadent pays £44m after leaving customers without supply and losing records May 22, 2019 Gas network company Cadent has today apologised after it was forced to pay £44m for failing customers in nearly 800 London high rises. The firm has agreed to pay a £24m fine to regulator Ofgem, and will set aside £20m to set up a fund to support vulnerable customers. Read more: Ofgem may revoke energy [...]
Royal Mail to slash dividend 40 per cent as profit drops by a third May 22, 2019 Royal Mail said today it will cut its dividend 40 per cent from next year as it earmarks extra cash to invest in the business. The figures The company today announced a drop in operating profit of 34 per cent. It said operating profit after transformation costs for the 52 weeks ended March 2019 was [...]
SSE falls ‘well short’ of hopes, chairman admits as thousands of customers flee May 22, 2019 The chair of energy giant SSE today said his company’s results “fell well short” of what the board had hoped, in a year when 550,000 customers left the business. The company also created a board of directors for its retail arm, saying it wants to spin the unit off by the second half of next year. [...]