‘Systemic failures’ led to commuter chaos after May’s timetable changes, says regulator December 7, 2018 Train companies must put passengers at the heart of decision-making to prevent a repeat of May’s timetable chaos, the Office of Rail and Road (ORR) said today. The ORR published a raft of recommendations to improve rail services for passengers in phase two of its review into major rail disruption earlier this year, saying "systemic [...]
TfL and Crossrail to pay £15m to Canary Wharf Group if Elizabeth Line station is not complete by 2021 December 6, 2018 Transport for London (TfL) and Crossrail could have to fork out £15m to the Canary Wharf Group if its new Elizabeth Line station is not complete by 2021, City A.M. can reveal. An email from outgoing Crossrail chief executive Simon Wright, seen by City A.M., reveals that TfL and Crossrail will have to pay the sum each year if the station [...]
Thomas Cook shares plummet further as volatile travel firm’s misery continues December 6, 2018 Shares in Thomas Cook tumbled more than 13 per cent today as the travel agency reels from profit warnings and debt concerns. The fall wipes out gains made yesterday, when the company clawed back recent losses of nearly 60 per cent. During a turbulent few weeks Thomas Cook has seen its shares fall to their [...]
‘Dockless’ electric bikes you can park anywhere launch in London December 6, 2018 Electric-powered bikes you can park anywhere after a ride are launching in London tomorrow. California-based company Lime will be dropping off its "dockless" Lime-E bikes in Brent and Ealing, with 1,000 expected in the two London boroughs by the end of the month. Painted a distinctive green, the e-bikes can be unlocked by Lime app users [...]
These are the 10 rail operators with the most delayed train services December 6, 2018 Rail services' punctuality and reliability have dropped by 2.5 per cent in the UK, as signal failures, extreme weather and management issues led to more late-running trains for long-suffering commuters. The latest statistics from rail regulator the Office of Rail and Road (ORR) for the second quarter of 2018-19 also show that East Coast operator LNER suffered [...]
Debate: Could green energy alone soon power the electric car revolution? December 6, 2018 Debate: Could green energy alone soon power the electric car revolution? Yes – Matthew Wright is UK managing director at Orsted. We are seeing unprecedented developments in green energy, and I believe that clean generation, combined with enhanced battery storage capabilities, will power our move away from petrol and diesel vehicles. This is not just [...]
Profits plunge at Thames Water after extreme weather puts the pressure on pipes December 6, 2018 Thames Water’s half-year profits plunged by nearly 50 per cent today, as a combination of extreme weather and regulatory fines threw light on the mounting pressures that loom over one of Britain’s largest utility companies. The under-fire firm posted pre-tax profits of £67.7m in the six months to September, falling from £129m in the same [...]
Sadiq Khan slams Westminster Council for pulling out of £80m TfL Oxford Street redevelopment plans December 6, 2018 Sadiq Khan has slashed £80m of funding from Westminster City Council (WCC) for redeveloping Oxford Street, after finding out the council had ditched joint plans with Transport for London for the project in favour of its own £150m proposal. In a letter seen by City A.M., addressed to council leader Nickie Allen, the mayor of [...]
Crossrail boss Terry Morgan resigns after Sadiq Khan spat December 5, 2018 The chairman of Crossrail and HS2 has resigned from both roles following a dispute with mayor Sadiq Khan over delays and spiralling costs. Terry Morgan admitted last week he expected to be sacked amid rising costs and opening delays to both the Crossrail and HS2 projects. Morgan, who has led Crossrail for almost a decade, [...]
Stagecoach shares climb 15 per cent despite £85m balance sheet blow from US division December 5, 2018 Stagecoach shares climbed by 12 per cent this morning despite its writedown of its US, as investors focused on the business’s underlying performance in the UK. The figures Stagecoach revenue fell to £1.23bn in the six months to the end of October, down from £1.79bn in the same period in 2017. Underlying profit before tax [...]