Crossrail 2 set to cost taxpayers £41.3bn, reveals London mayor February 27, 2019 Crossrail 2 is set to cost over £40bn, the Mayor of London has revealed in a budget document published earlier this week. The £41.3bn estimate for the proposed north to south London line is higher than the Greater London Authority's widely cited £30bn budget, which is based on 2014 prices. Read more: Crossrail 2 boss says [...]
Billionaire Jim Ratcliffe’s firm Ineos to pump £1bn into UK’s energy assets February 27, 2019 Chemicals company Ineos, owned by billionaire Jim Ratcliffe, has announced plans to invest £1bn in the UK’s oil and gas assets. The petrochemicals giant will inject £500m into the Forties pipeline, which carries almost half of Britain’s oil and gas from the North Sea, to extend the pipe’s life into the 2040s. Read more: Ineos [...]
500 London roads breach air pollution limits as Mayor warns of air quality crisis February 27, 2019 Almost 500 London roads and landmark locations breach air pollution limits, campaigners warned today. Read more: Westminster pledges £28m to ease traffic jams on the Strand The news comes after the Mayor of London issued a high pollution alert for the capital yesterday in response to the unseasonably warm weather. The worst offender listed in the [...]
Government told to publish Govia’s profit cap amid concerns over taxpayers’ money February 26, 2019 The public spending watchdog has urged the government to publish details of Govia's profit cap, citing fears taxpayers' money is not being "adequately protected" after last year's rail chaos. The Public Accounts Committee (PAC), chaired by MP Meg Hillier, said there was a lack of transparency around the profit rate that Govia earns from its [...]
British renewables investors are the best in the world says fund boss as he looks to London listing February 26, 2019 London has the best-educated renewables investors in the world, the head of a top fund manager has said as it prepares to list a fund in the UK. New Energy Solar Manager chief executive John Martin is bringing his US-focused solar investment fund to the UK. Read more: SSE will sell stake in Scottish wind [...]
Hope of renewed Interserve rescue refinancing plan gives investors second wind February 26, 2019 Shares in outsourcer Interserve were up 16 per cent this afternoon as investors continue holding their breath for a rethink of its emergency financial rescue plan. The firm is expected to publish an updated version of the plan tomorrow morning after its biggest shareholder, Coltrane Asset Management, demanded it make changes on Thursday night. Read [...]
High Court strikes down black cab appeal against Uber’s London licence February 26, 2019 The High Court rejected an appeal to block Uber's 15-month London licence today, dismissing claims that the decision to grant it was biased. Taxi drivers of the United Cabbies Group (UCG) argued that chief magistrate Emma Arbuthnot's decision to grant Uber a licence to operate in London was affected by her husband's relationship with the company. Read more: [...]
Scottish Power set to pump £2bn into the UK this year in face of Brexit fears February 26, 2019 Scottish Power’s chief executive today played down Brexit fears as the company committed to investing £2bn into the UK this year. The energy supplier, which last year transitioned to 100 per cent renewable energy, said it will pour £6bn into Britain between 2018 and 2022, with two fifths of that going to renewable energy generation. [...]
IBM’s Watson supercomputer to solve the mobility problem in tie-up with Volkswagen’s SEAT February 26, 2019 IBM and Volkswagen's Spanish unit SEAT have unveiled a standalone app that hopes to predict what mode of transport and route is best for urban users through artificial intelligence (AI). The app, called Mobility Advisor, will utilise the power of IBM's Watson supercomputer to present commuters with the best way to navigate cities, whether that's [...]
Travis Perkins’ share price rallies despite moving into the red amid ‘challenging’ market February 26, 2019 Travis Perkins shares rallied on beaten analyst expectations even as the company posted a loss for the first time in years for 2018 against a “challenging” market backdrop. The figures The builders’ merchant grew revenues 4.8 per cent to £6.7bn last year, with like-for-like revenue growth up 4.9 per cent – faster than 2017. Read more: [...]