Outsourcer Interserve falls into administration after shareholders reject rescue deal March 15, 2019 Interserve has fallen into administration after shareholders roundly rejected a rescue deal designed to relieve it of a more than £630m debt pile. The public outsourcer has announced it expects to fall into the hands of administrators after investors voted to reject its proposed deal by 59 per cent to 41 per cent at a general meeting this morning. Earlier [...]
Tesla launches new Model Y to enter SUV market March 15, 2019 Tesla has officially launched its second mass-market car, the Model Y. The electric vehicle was unveiled in Los Angeles on Thursday with the company announcing that the first release will be a long-range version at a price of $47,000 (£35,489). It will be able to travel up to 300 miles before it needs recharging, whereas [...]
Government pours nearly £600m into housing around Old Oak Common and Brent Cross stations March 14, 2019 Nearly £600m will be poured into housing projects near key railway stations, housing minister James Brokenshire has announced. Up to £250m will got towards the construction of up to 13,000 new homes close to the new HS2 railway station at Old Oak Common, near East Acton. The new station at Old Oak Common is set to open [...]
Energy firm Eon losing customers at ‘alarming rate’, report says March 14, 2019 The number of energy customers abandoning Eon is growing at an “alarming” rate, experts have warned, as the Big Six continues to lose out. Figures from Compare the Market show that nearly 22 per cent of customers who switched suppliers on the site came from Eon. Meanwhile only seven per cent of customers are switching [...]
Police discover unexploded Second World War bomb in no-deal Brexit lorry car park March 14, 2019 An unexploded bomb from World War Two has been found in the abandoned airport that is to be used as a lorry car park in a no-deal Brexit. Read more: ‘Wrecking ball’: Grayling refuses to resign over £33m Eurotunnel fiasco Police and army bomb disposal experts arrived at Kent’s Manston Airport this morning to investigate [...]
TfL boss Mike Brown ‘hid Crossrail testing issues’ from Sadiq Khan in weekly email update March 14, 2019 Transport for London (TfL) boss Mike Brown ordered references to the difficulties Crossrail was experiencing with dynamic testing to be removed from email updates sent to Sadiq Khan, it was revealed today. At a grilling by the London Assembly's transport committee, Howard Smith, operations director for TfL Rail and the Elizabeth Line, admitted he felt Crossrail ought [...]
Ports owner DP World increases revenue growth amid global expansion March 14, 2019 DP World’s shares rose six per cent today on the Nasdaq Dubai exchange on the back of the strong revenue growth revealed in its full year results. The ports operator's revenues were boosted by its 2018 global expansion which saw it spend $2.5bn on acquisitions in India, Peru and Denmark. Read more: DP World pays £322m for P&O Ferries [...]
Balfour Beatty wins preferred bidder status in decade-long £1.5bn Network Rail contract March 14, 2019 Construction firm Balfour Beatty is set to be tasked with overseeing a wide-ranging program of railway track renewals and crossings for Network Rail for the next decade, in a £1.5bn contract. The UK’s biggest constructor, which carries out key public infrastructure projects such as Hinkley Point and Crossrail, has been selected as “preferred bidder” for [...]
Govia Thameslink Railway hit with £5m fine over May’s timetable chaos March 14, 2019 Govia Thameslink Railway (GTR) faces a £5m fine over its role in last May’s timetable chaos, the rail regulator announced this morning. The Office for Rail and Road (ORR) accused the train operator of failing to provide “appropriate, accurate and timely” information to passengers about the timetable change. Read more: Rail review head Keith Williams [...]
Government must change policy on rail electrification or risk missing climate change targets, industry body warns March 14, 2019 The national body for Britain’s railways has warned the government could miss its targets of decarbonising train travel by 2040 unless it changes its policy on electrification. The Railway Industry Association (RIA) called on the government to collaborate with the rail industry and commit to electrification after several projects were cancelled in 2017. The association [...]