HS2 will cost taxpayers 25 per cent more than similar schemes abroad, says leaked report October 18, 2018 High Speed Two (HS2) will end up costing taxpayers 25 per cent more than similar projects in other countries, a leaked report has said. HS2 is projected to cost £56bn and will link London to the north in two phases: the first phase will link London to Birmingham and is set to open in 2026, while phase two [...]
Morgan Stanley banker moonlights as an Uber driver to win top role in upcoming IPO October 18, 2018 A top banker at Morgan Stanley has reportedly been moonlighting as an Uber driver outside of working hours, in a bid to win the deal to take the ride-hailing firm public in 2019. Michael Grimes, a technology banker in the US for Morgan Stanley, has been running the job on the side for several years despite [...]
Gatwick Airport publishes proposals to use emergency runway October 18, 2018 Gatwick Airport has published controversial plans to use its standby runway to increase capacity in a move that has been branded as "subterfuge" by campaigners. The plans mean the airport's standby or emergency runway will effectively operate as a second runway, which Gatwick has called for to increase its constrained capacity. The airport lost out [...]
TfL moves step closer to offering 4G mobile coverage on the Tube from 2019 with plans to roll it out to Elizabeth Line and Crossrail 2 October 18, 2018 Tube passengers should soon be able to read emails and check Twitter on the go, as Transport for London (TfL) has formally kicked off the procurement process to deliver 4G mobile coverage across the Underground. TfL is on track to introduce 4G coverage from next year, with plans to branch out further and incorporate the [...]
FCA could slap fine on TfL for not informing London Stock Exchange of Crossrail delay in July October 18, 2018 The financial watchdog is considering whether to launch a formal investigation into Transport for London (TfL) over its alleged failure to inform the London Stock Exchange (LSE) about the impending delay to Crossrail in July. On 31 August Crossrail announced that the £15.4bn Elizabeth Line, which will connect Reading and Heathrow in the west to Shenfield [...]
Buses to run for 24 hours a day under new £150m plans for Oxford Street October 18, 2018 Buses will run for 24 hours a day under new plans to develop Oxford Street which London mayor Sadiq Khan wanted to pedestrianise before the plans were abandoned in the summer. Westminster city council will spend £150m on increasing walking space in Oxford Street but two lanes of traffic will continue along the length of the street [...]
Black cabs to launch in Paris (but will they go south of the Seine?) October 18, 2018 London’s black cabs will launch in Paris next year as the Chinese owner of the iconic design continues its global expansion. In 2017 the Geely-owned London Electric Vehicle Company said it would launch its taxis in Amsterdam, Oslo, Berlin and Hamburg. Read more: Driverless flying taxis could be heading for London The company said today [...]
‘Outstanding’ summer for National Express UK coach business October 18, 2018 National Express made £5m coach sales a week in August, as an "outstanding" summer saw revenue in the UK increase by 10.1 per cent. UK passenger numbers grew by six per cent and on August bank holiday Monday revenue was up 13 per cent, the coach firm said in a trading update. Read more: Transport operator Go-Ahead [...]
Paddington disruption to continue into tomorrow as Network Rail carries out overnight repairs October 17, 2018 Extensive disruption at Paddington station today caused by damage to overhead cables will continue into tomorrow as Network Rail carries out vital repairs. Commuters faced a travel nightmare this morning when Paddington station was plunged into chaos after a Hitachi train caused damage to 500m of electrical power lines during a test last night. The [...]
Consultation launched to pick best of three locations for £40m Nine Elms bridge October 17, 2018 A consultation has been launched into finding the best location for a new bridge across the Thames to connect Pimlico to Nine Elms. Last year Wandsworth council chose Danish architecture and engineering practice Bystrup with Robin Snell Architects to design the new £40m crossing, following a competition that received just over 70 submissions from around the world. [...]