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 [...]
Flybe and Monarch in bitter dispute over alleged breach of maintenance contract December 2, 2018 Beleaguered airline Flybe is locked in a war of words with Monarch Aircraft Engineering (MAEL) over a terminated maintenance contract. Exeter-based airline Flybe, which put itself up for sale last month, terminated a contract with the aircraft repair company for maintenance services. The airline has accused MAEL of breaching the contract by withdrawing its services “unilaterally”. “Flybe [...]
Embankment traffic harming 15,000 east London businesses, study warns December 2, 2018 Heavy traffic on the Embankment is causing serious economic harm to east London businesses, a new study has warned. Research by transport economists Volterra Partners revealed the removal of a traffic lane on the A3211, which runs between Westminster Bridge and Tower Hill, has significantly increased journey times. Volterra partners said increased congestion has meant [...]
Crossrail and HS2 chair Sir Terry Morgan faces sack after costs spiral December 1, 2018 The chair of the Crossrail and HS2 infrastructure projects reportedly faces the sack over fears the rail link between London and Birmingham could exceed its £56bn budget by a large margin. Sir Terry Morgan has only been chair of HS2 for four months but could now be fired within weeks after his poor performance was [...]
Asda, Sainsbury’s and Morrisons announce plans to cut fuel prices tomorrow November 30, 2018 Three major UK supermarkets have announced cuts to fuel prices today as the wholesale cost continues to decrease. From tomorrow customers at Asda, Sainsbury’s and Morrisons will benefit from 2p per litre discount on unleaded and diesel. Drivers will now pay no more than 116.7p per litre on unleaded and 127.7p per litre on diesel [...]
Rail fare hike: How much your 2019 commute will cost November 30, 2018 Train tickets are set grow even more expensive next year, with fares rising an average of 3.1 per cent in January. The price hike – following a year of frustration for London commuters – has been much criticised, especially as it is tied to the more expensive Retail Price Index, rather than the more commonly [...]