No-deal Brexit would be ‘disastrous’ for Toyota and could cost £10m a day, MPs hear December 4, 2018 Toyota has warned MPs that a no-deal Brexit would be “disastrous” to its car making operation in UK, and could cost the company around £10m a day. Tony Walker, deputy managing director of the company in Europe, said it was “unimaginable” that it would be able to change customs procedures to fit World Trade Organisation [...]
Govia Thameslink Railway operator strikes deal with government following rail chaos December 4, 2018 Go Ahead Group has struck a deal with the Department for Transport to allow it to hang on to the troubled Govia Thameslink Railway franchise. Go Ahead has agreed to introduce a profit sharing mechanism with the DfT for the remainder of the franchise which runs until 2021. As a result, the margin over the [...]
Transport secretary Chris Grayling could have done more to avert May timetable chaos, say MPs December 4, 2018 Transport secretary Chris Grayling should have been "more proactive" in averting the crisis that unfolded from the timetable upgrade in May, MPs have said. The Transport Select Committee said it was "not reasonable" of Grayling to "absolve himself of all responsibility" in the May timetable change, which resulted in widespread cancellations, delays and overcrowding. The committee [...]
Sadiq Khan hits back at Terry Morgan over Crossrail comments December 3, 2018 Sadiq Khan has hit back at Crossrail chairman Terry Morgan over comments he made about what the mayor knew about the project’s delay. The soon-to-be-sacked Morgan told the BBC earlier today that he was in “absolutely no doubt” that Khan was told on 26 July that it was no longer feasible to deliver Crossrail, also known [...]
Rail regulator fines TfL and Balfour Beatty over £400,000 for injury of rail worker December 3, 2018 The rail regulator has fined London Underground and Balfour Beatty more than £400,000 for breaking health and safety laws that led to a worker suffering life-changing injuries. London Underground was fined £100,000 while construction giant Balfour Beatty was hit with a £333,000 fine. Both bodies pleaded guilty to breaking the laws, which resulted in worker [...]
Crossrail chairman Terry Morgan ‘in no doubt’ that Sadiq Khan was told about project delay in July December 3, 2018 The soon-to-be sacked HS2 chairman Terry Morgan has insisted he told Sadiq Khan that the £15.4bn Elizabeth Line was not going to open on time at least a month before the London mayor said he knew about the delay. Morgan, who has led the Crossrail project for a decade, told the BBC that he was in "absolutely no [...]
Thomas Cook shares plunge 20 per cent following last week’s £30m profit warning December 3, 2018 Shares in airline and travel agent Thomas Cook have plummeted by more than 20 per cent following a period in which it downgraded its profit guidance twice in two months. Shares were trading at 23.96p at the time of writing, following last week's £30m profit warning, which it blamed on the summer heatwave for hitting the package holiday provider’s [...]
Big bills for passengers who leave phones on during flights December 3, 2018 Passengers who forget to heed the flight attendant's advice to turn off their phones could face huge bills when they get back from holiday, Aer Lingus has warned. The Irish carrier said that phones which are left on, without being switched to flight mode, could connect to the plane’s roaming network which is not included [...]
Southend Airport-owner Stobart Group cuts its fourth-quarter dividend December 3, 2018 Stobart Group has today said it plans to cut its fourth-quarter dividend to focus on future investments. The Southend Airport-owner said it had examined the dividend as part of an ongoing capital review and had decided to cut it to 1.5p per share. This means that total dividend paid in the financial year will be 15p [...]
Southern Water criticised over ‘unfair’ pensions scheme by regulator December 3, 2018 The Pensions Regulator has rapped Southern Water over claims it treated its pension scheme unfairly, it was revealed. TPR said it was taking action after finding Southern’s pensions pot was subject to “undue risk” despite the company’s strong finances. The watchdog was concerned over an “imbalance between the funds contributed to the Southern Water pension [...]