Balfour Beatty set to grow revenues against backdrop of struggling construction rivals December 14, 2018 Balfour Beatty is on course to beat expectations after selling off more of its infrastructure investment stakes in December, the engineering firm said today. The engineering firm expects to net about £65m in profit from the disposals over the full year, which come under its Build to Last transformation programme that will also see it sell [...]
Renault keeps Ghosn as chief executive and chairman December 13, 2018 Renault will keep Carlos Ghosn as its chairman and chief executive after an initial internal investigation found no evidence of wrongdoing, the company said today. Renault said the executive’s compensation was “in compliance with applicable law” and said it would maintain its current governing structure. Under this structure Ghosn retains his positions as chairman and [...]
Luton airport gears up for boosted passenger numbers as it unveils £160m upgraded terminal December 13, 2018 Luton airport has unveiled its upgraded terminal after its three-year £160m redevelopment. The redevelopment has been the biggest in the airport’s 80-year history and has seen the terminal expanded to increase capacity in London and the south east, a task levelled to airports by the government. The new terminal features 30 new new high street and high-end stores including [...]
Train delays hit 10-year highs for Square Mile commuters December 13, 2018 Punctuality rates for three London train operators – including two that take commuters directly into the Square Mile – fell to decade-lows in the second quarter of this year. The percentage of Chiltern Railways, c2c, and Greater Anglia trains arriving late between July and September were at their highest in over 10 years, according to [...]
Commuters face day of disruption due to train fault between Stratford and St Pancras International December 13, 2018 A damaged track between Stratford and Eurostar hub St Pancras has triggered widespread delays and disruption for commuters this afternoon. Southeastern said disruption to its high speed services would continue through the rest of the day. A limited service is will run between Stratford and St Pancras until about 10pm this evening, and there will be [...]
Passengers ditch season tickets in favour of single journeys as disruption takes its toll December 13, 2018 Passengers are continuing to ditch season tickets, suggesting a loss of confidence caused by disruption on Britain’s railways. The number of season ticket journeys for the second quarter this year was 143m – the lowest level since the second quarter of 2010-11. By contrast, the number of journeys using one-time advance, anytime and off-peak tickets increased [...]
Christmas strikes: Union votes for New Year’s Eve strike on London rail December 13, 2018 Commuters face renewed strike misery over Christmas, with new industrial action planned on New Year’s Eve on South Western Railway. The RMT union will also strike for the whole of Thursday 27 December on South Western Railway, accusing the train line of refusing to engage in “a serious talks process” to solve a long-running dispute [...]
Holiday experiences help travel operator Tui weather the heatwave storm December 13, 2018 Travel operator Tui has reported double-digit sales growth for the full year, as strong performance in hotels and cruises outweighed the impact of the summer heatwave and airline strikes. The figures Reported core earnings rose 10.9 per cent from €1.10bn (£990m) to €1.14bn. Revenues were up five per cent to €19.52bn. Profit before tax fell [...]
Suppliers uneasy about Interserve payments as outsourcer’s shares edge back from the brink December 12, 2018 Interserve’s suppliers are worried they will not receive payments from the debt-stricken outsourcer, as its share prices nudge back up from a low of 6p. Smaller subcontractors carrying out work on behalf of the company are “extremely worried they will not be paid,” said Rudi Klein, chief executive of trade body Specialist Engineering Contractors' (SEC) [...]
Network Rail offers to wrap commuters’ Christmas presents at London stations December 12, 2018 Network Rail is offering a free gift wrapping service to commuters at London train stations this Christmas. The service, which Network Rail has dubbed “Wrapland”, is available from a pop-up stall at London Bridge until tomorrow and then at King's Cross from 17 to 19 December. The stall has been set up to encourage commuters to purchase presents from shops [...]