Early cost estimates for HS2 were wildly inaccurate says former insider December 17, 2018 A former insider at rail project HS2 has said that the early land and property cost estimate considered by MPs was “enormously wrong”. HS2’s chairman Sir Terry Morgan resigned from the project this month after cost overruns at another project he chaired, Crossrail. However, Morgan hinted that HS2 could face similar problems. Now former head [...]
Aston Martin remains in short sellers’ sights despite Soros cash-out, as stock continues to fall December 16, 2018 Aston Martin's struggling stock continues to be targeted by short sellers, with London-based Adelphi Capital raising its bet against the carmaker to £15m last week. The manufacturer behind James Bond’s vehicle of choice would have wished to slip under the radar of hedge funds after its shares crashed from an initial £19 in October to £11.49 [...]
Jaguar Land Rover prepares to axe up to 5,000 jobs in January December 16, 2018 Jaguar Land Rover is expected to cut up to 5000 jobs next year as part of its £2.5bn turnaround plan. The car manufacturer, which posted a £90m loss in the third quarter, has been hit by a lessening demand for diesel cars and costs associated with Brexit. Read more: Losses deepen as JLR embarks on [...]
Tube driver salaries break £100,000 barrier despite train automation December 16, 2018 Some London Tube drivers are now earning more than £100,000 a year, despite new technology that makes their jobs easier. Figures obtained by the Sunday Times reveal the highest-paid driver earned £103,374 in the year to November, a 69 per cent rise since 2012. The surge in pay comes despite five of the network’s 11 lines [...]
Downing Street denies reports of preparing no-deal Brexit holiday warnings December 16, 2018 Downing Street has denied reports that the government is to suggest families do not book holidays after 29 March amid preparations for a no-deal Brexit. The Sunday Times reported that the government was supposed to discuss the contingency plans at last week's cancelled cabinet meeting after May received a vote of no confidence in her [...]
Boeing opens first 737 completion plant in China amid US trade war December 15, 2018 Boeing has opened a plant in China for the completion of its 737 for the first time on Saturday. It is an investment aimed at building a sales-lead over rivals Airbus, but Boeing has admitted concern over the US trade war with China. Boeing delivered the first of its 737s completed at Zhoushan, 180 miles southeast [...]
Time Out Market to open in former Eurostar terminal in London Waterloo station December 14, 2018 Time Out Group has revealed plans to open a new market in London's Waterloo station. Time Out Market London will have restaurants, bars and “cultural experiences” hand picked by the British media company from across the capital. Occupying 32,500 square feet over two floors in the former Eurostar terminal, the market is expected to open in 2021. It [...]
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 [...]