TfL awards £1bn Silvertown Tunnel contract to Aberdeen Standard-backed consortium May 30, 2019 A consortium comprising Aberdeen Standard Investments (ASI), Cintra and Macquarie Capital will build the £1bn Silvertown tunnel under the river Thames. The project, which will connect the Greenwich peninsula to Silvertown through an under-the-water tunnel, will come within Transport for London’s (TfL) ultra-low emission zone, meaning vehicles that do not meet certain emissions standards will [...]
Uber partners with insurtech startup to offer digital insurance May 30, 2019 Ride sharing giant Uber has struck a deal with a US insurtech startup to offer digital insurance for its drivers. Inshur uses information about average trips, locations and driver ratings in near real-time to calculate the price of the driver’s policy. Read more: Uber facing £1bn VAT tax bill after HMRC opens investigation The startup [...]
Train delays and shoddy rail service are holding back British business May 30, 2019 Trains in the UK are rubbish. Okay, this isn’t really a surprise announcement, but neither is the “we’re sorry to announce that your train is delayed” when it blares over the tannoy on a regular basis. I’m sure this will fill many of you with the same sense of unbridled want-to-drive-a-tractor-through-the-ticket-office rage as it does [...]
First Group to sell off Greyhound arm amid activist pressure as losses narrow May 30, 2019 First Group has announced plans to sell parts of its operations including its US Greyhound buses. Shares in the FTSE 250 company, which has been facing pressure from an activist investor to split up the business, jumped 13 per cent per cent in early morning trading after it also announced plans to separate its First Bus operations [...]
Ofgem slaps suppliers Economy Energy and E with £850,000 fine for competition breaches May 30, 2019 Failed supplier Economy Energy has been slapped with a major fine by regulator Ofgem for breaching competition laws with E (Gas and Electricity) and consultancy Dyball Associates. The companies were fined a combined £870,000 by the regulator this morning after it found the two suppliers had agreed to not target each others’ customers through face-to-face sales. [...]
Regulators mistakes cost customers £24bn over 15 years, study shows May 30, 2019 Brits have been overcharged a massive £24bn for their water, energy and telecoms over the past 15 years due to regulators’ mistakes, a new report has found. Citizens Advice said that “midjudgements” from regulators Ofgem, Ofwat and Ofcom had caused customers to pay far too much for pipes and wires connected to their homes. Read [...]
Solarcentury rules out IPO as search continues for buyer of £250m firm May 29, 2019 The UK’s largest solar company Solarcentury has ruled out a public float as it looks for a new owner in a deal which could reportedly reach around £250m. The firm, which builds solar projects across several continents, has seen interest from oil and gas utilities, large financial firms and other global players. Read more: Ofgem [...]
Activist investor hits out at First Group over results meeting ban May 29, 2019 An activist investor in First Group is furious that it has not been allowed to attend the transport company's full-year results meeting tomorrow. First Group is locked in a boardroom battle with US hedge fund Coast Capital, which owns a 9.7 per cent stake in the firm and is its largest shareholder. Coast has demanded [...]
Exterion Media rolls out new digital screens across London Underground May 29, 2019 Out-of-home advertising firm Exterion Media has boosted its partnership with Transport for London, unveiling plans to launch new digital screens across the Tube network. Exterion will roll out full-motion digital screens at five major Tube stations, in what it described as the largest launch of advertising screens at one time. So-called digital ribbons will be [...]
Boeing 737 Max unlikely to return to service until ‘at least August’ after recent crashes May 29, 2019 Boeing will likely have to wait until at least August before its best-selling jet can return to the skies, after two deadly crashes forced regulators to ground the model across the globe. Read more: Boeing under investigation by SEC about 737 Max disclosures Speaking in Seoul earlier today, head of the International Air Transport Association [...]