Capita offloads Supplier Assessment Services to bring in £160m and confirms MoD contract win June 19, 2018 Outsourcing giant Capita said today it will raise £160m from the sale of its Supplier Assessment Services business to funds affiliated with private equity firm Warburg Pincus. It has agreed to sell the business, which includes Constructionline, in a deal expected to be tied up at the beginning of next month. Separately, the company confirmed [...]
Multiple people injured after explosion at Southgate tube station June 19, 2018 Multiple people have been injured after an explosion at Southgate tube station this evening. British Transport Police said a small number of people have been treated at the scene by the London Ambulance Service following a minor explosion. The explosion is not being treated as suspicious with the Metropolitan Police saying that the cause of [...]
South Western Railway gears up for three days of union strike action this week June 18, 2018 Further strike action will hit South Western Railway (SWR) this week as clashes with the Rail, Maritime and Transport (RMT) union show no signs of abating. The RMT has instructed members not to carry out their duties from the morning of Thursday 21 June to midnight on Saturday 23 June. The three-day strike has been [...]
Turbulent times ahead for Heathrow as hotel tycoon launches High Court claim June 17, 2018 A legal battle surrounding Heathrow has been launched by hotel tycoon Surinder Arora following disputes around a potential multi-storey car park. In a High Court claim which might have profound ramifications for the future of the airport hub, Arora and Heathrow are at loggerheads over development rights for parking. Read more: Easyjet says an expanded [...]
Flybe is expecting profits to tumble after Beast from the East takes its toll June 17, 2018 Regional airline Flybe is expected to reveal nosediving profits on Tuesday following a series of setbacks from poor weather. Annual pre-tax losses for the firm are forecasted to reach £15.7m, a significant rise from £6.7m in 2017. However, the City is expecting a seven per cent growth in revenue from £707m to £755m. The "Beast [...]
Rolls-Royce files patent for electric jet engines June 17, 2018 Engineering giant Rolls-Royce has filed a patent for a new type of electric engine that could revolutionise commercial air travel, as it strives to streamline its operations through large-scale job cuts. The British firm’s Indianapolis research team filed a patent in the US in November for a “combined AC and DC turboelectric distributed propulsion system,” [...]
Siemens Mobility lands £1.5bn TfL contract to design and make new Piccadilly Line trains June 15, 2018 Transport for London (TfL) has announced that Siemens Mobility has landed a £1.5bn contract to design and build the next generation of Tube trains for the Piccadilly Line. The capital's transport body said 22 UK suppliers had been identified in the bid to potentially work with Siemens Mobility on the build of the trains. The [...]
Incomplete journeys on the Tube could become history as TfL allows passengers using contactless to get payment updates on the go June 15, 2018 Incomplete journeys on the Tube could soon become a thing of the past for passengers with a penchant for contactless. Transport for London (TfL) has announced this morning that customers can now check their contactless journey history using their phone on the go, with real-time updates on the TfL app. Half of all Tube and [...]
Govia Thameslink Railway chief executive Charles Horton resigns after ‘huge frustration’ caused by train timetable troubles June 15, 2018 The boss of Southern rail parent company Govia Thameslink Railway (GTR) Charles Horton is stepping down, it was announced today. Horton said: I recognise that passengers have been hugely frustrated at the significant disruption caused by the introduction of new timetables. It is the right time to hand leadership of GTR to a new pair [...]
Rolls-Royce shares rise 10 per cent following bullish growth forecasts after restructuring plan June 15, 2018 Shares in Rolls-Royce were flying 10 per cent higher today after the car and aviation manufacturer said it was on track to exceed its target of £1bn of free cash flow by 2020. Shares in the company stood at 972.2p, slightly down from an earlier morning rally in which they were trading at 999.8p. Rolls-Royce [...]