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. [...]
Private jet departures from UK take a four per cent knock in April May 21, 2019 Private jet departures from the UK took a downward turn last month, as the number of aircraft registered in Europe fell. The number of business aircraft departures in the UK fell last month by 4.1 per cent on the previous year, compared with 3.1 per cent for Europe as a whole. London-based Colibri Aircraft, which [...]
Is two-year low the nadir for IAG shares? May 21, 2019 | City Talk Investors have taken these results as a cue to pick up cheap stock, betting that the worst is over. In the context of its financial year, the first quarter will probably be one which International Consolidated Airlines Group (LSE:IAG) will want to forget. As can be seen from the demise of several smaller airlines over [...]
Want to spark an e-scooter revolution in London? Ditch the language of conquest May 21, 2019 When Germany’s politicians gave electric scooters the green light last Friday, they instantly created Europe’s largest market for this new mode of transport, while making Britain the last remaining major country in the continent not to approve e-scooters for use on roads. Pressure is now mounting on British politicians to overturn the ban on e-scooters, [...]
DEBATE: Is it time to accept the sunk cost and scrap HS2? May 21, 2019 Is it time to accept the sunk cost and scrap HS2? Andrew Bridgen, Conservative MP for North West Leicestershire, says YES. There is a saying that “your first loss is your best loss”. This is where we are with HS2, with its escalating costs and diminishing public support. Initially, the HS2 budget was set at [...]
Thomas Cook’s share price rises after last week’s massive market plunge May 21, 2019 Thomas Cook’s shares shot up in early trading today, but not enough to offset a huge stock market slump over the last week. Read more: Thomas Cook reassures customers as shares continue to crash The struggling travel agent’s share price rose 16 per cent this morning to 11.9p after falling to under 10p yesterday. However, [...]