A signal failure on the Northern Line is still causing severe disruption for the capital March 1, 2017 The Northern Line is still dealing with severe disruptions after a signal failure this morning. While the issue has been fixed, it took longer than anticipated and Transport for London said it doesn't have a timescale of how long it'll take the line to get back to normal service. So commuters heading home in rush [...]
CRH shares jump as Trump plans to ramp up infrastructure spending in the US March 1, 2017 Shares in CRH have risen more than five per cent today as US infrastructure spending is seen growing further in 2017. The figures The Dublin-based group posted pre-tax profit up 69 per cent to €1.74bn (£1.49bn) while earnings before interest, tax, depreciation and amortisation (Ebitda) for the full year increased 10 per cent on a proforma basis to €3.13bn. Basic earnings per [...]
Jaguar Land Rover says the new Range Rover Velar will be built in the UK as a sign of “confidence in British manufacturing” March 1, 2017 Jaguar Land Rover has said the new addition to the Range Rover family, the Velar, will be built exclusively in Britain, as a sign of the "firm's confidence in British manufacturing". The model, which launches later today, will be built at its Solihull manufacturing plant in the West Midlands. JLR, which has plants abroad in China, Brazil, [...]
Ford set to axe 1,160 jobs at Bridgend engine plant, Unite warns as it gears up for strikes March 1, 2017 Unite has said up to 1,160 jobs will go by 2021 after Ford said it will cut investment in a new engine programme. The union has warned workers at Ford's Bridgend plant in Wales will be "one step closer to strike action" if the company doesn't commit to protecting jobs. At the moment, the headcount is [...]
Eurotunnel profits rocket as boss hails “best year in our history” March 1, 2017 Groupe Eurotunnel, the owner of the Channel Tunnel, has announced its "best year" ever as profits shot up, despite Eurostar passenger numbers being "badly affected" by terrorist attacks in Paris, Brussels and Nice. Read more: Records fall as Eurotunnel keeps on truckin' The figures Net consolidated profits were €200m for the year, compared to €75m for 2015. [...]
Green Investment Bank privatisation hits a legal snag as the rival bidder to Macquarie seeks a judicial review March 1, 2017 THE GOVERNMENT’S decision to award preferred bidder status to Australia’s Macquarie in the long-running privatisation of the Green Investment Bank (GIB) is being challenged in the high court. Sustainable Development Capital (SDCL), a UK-based international consortium, has launched proceedings in the High Court for judicial review of the decision. SDCL believes that the preferred bidder’s [...]
UK car manufacturers eye international opportunities though Brexit jitters remain March 1, 2017 The UK car industry is "cautiously optimistic" about the future, though Britain's exit from the European Union is still seen as the biggest threat to the sector. Lloyds Bank's third annual survey of the sector found that average investment over the next couple of years is due to stay steady at 19 per cent of turnover, [...]
Nissan asks government for £100m supply chain fund after Brexit February 28, 2017 A top Nissan executive has said the government must step in with millions of pounds of investments in the car parts industry in the UK if it is to continue to manufacture cars at its Sunderland plant. Colin Lawther, a senior vice president in charge of manufacturing at Nissan, said the manufacturer will “review constantly” [...]
Strike action spreads as Southern rail, Northern and Merseyrail staff will stage walkouts February 28, 2017 A flurry of fresh strike action is set to disrupt Britain's rail services after the RMT announced Southern rail, Northern and Merseyrail will face walkouts. A one-day walkout has been announced across all three train operators for Monday 13 March as the dispute over the role of the guard spreads. The RMT said it had been [...]
Uber: TfL’s new English test rules could cut the number of private hire drivers in London by 33,000 February 28, 2017 The number of private hire drivers in London could be cut by 33,000 if new rules requiring all them to complete a written English test are introduced, Uber has claimed Figures suggest as many as 28 per cent of minicab drivers could lose their licence by 2020 – while another 37,000 new applicants to be [...]