‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
Here are all the rail and station closures in London over Christmas October 31, 2016 Brace yourselves, commuters. There have been many headlines about incoming Christmas travel chaos, and now Network Rail has announced major station closures as an extensive programme of rail improvements goes ahead, it looks like there'll be a few more yet… Read more: Could Network Rail have to go cap in hand to the government? Rail [...]
London must shake off its complacency over housing and infrastructure if it’s to thrive post-Brexit October 31, 2016 Rarely has a ranking of the world’s greatest cities been released in the past few years without London at its top, or very near it. PwC recently named the capital the world’s best city for opportunity, praising its economic clout, its attractiveness to foreign direct investment, its highly skilled workforce, and its status as a [...]
Network Rail may have to drawdown on mammoth government funding facility October 30, 2016 After shelling out millions in compensation to Britain's train companies, Network Rail is facing the embarrassing prospect of asking for a hand out from the government. Last year, Network Rail drew down £7.5bn of borrowing from a department of transport (DfT) facility, more than doubling the amount it owes Chris Grayling's department, from £6.4bn to £14bn. [...]
House prices around the M25 have gone up 551 per cent in the last 30 years October 29, 2016 The M25 is 30 years old today. A lot of things have changed in 30 years; not least house prices. Indeed, the average price of houses around the M25 has risen 551 per cent in the 30 years since Britain's busiest motorway was opened. According to Halifax, in the 40 towns surrounding the 117-mile motorway, the average price [...]
Birmingham New Street station gets another makeover after dazzling drivers October 29, 2016 If you think your effort's going unappreciated at work, spare a thought for architecture firm AZPML. It only completed its £750m overhaul of Birmingham New Street railway station last year, complete with shiny steel "skin" to reflect trains pulling in and out of the station, as well as the surrounding cityscape, but it's already getting [...]
First legal challenges to Heathrow expansion take off as residents’ group claims bias October 29, 2016 We all knew they were coming; it was a matter of when rather than if. And not a week since the government announced that Heathrow expansion was getting the green light, the first legal challenge has been set in motion against the third runway. Residents' organisation Teddington Action Group (TAG) is alleging "apparent bias" against Sir [...]
Giving Uber drivers “worker” status is bad news for passengers, the gig economy and the drivers themselves October 28, 2016 Friday's decision to grant two Uber drivers worker status is bad news not just for Uber, but for its drivers, its customers, and the future of the “gig economy” as a whole. It is primarily bad for Uber drivers. We know for a fact that, by vast margins (five to one), they don’t want to [...]
Employment tribunal ruling could cost Uber over £17m, says employment lawyer October 28, 2016 Today's landmark ruling by an employment tribunal that Uber drivers are not self-employed but entitled to basic workers' rights such as holiday pay, could cost the company in excess of £17m, according to an employment lawyer. Sean Nesbitt, partner in the employment team at law firm Taylor Wessing, said: "It is economically significant to Uber. [...]
Uber drivers are NOT self-employed but entitled to workers’ rights, says employment tribunal October 28, 2016 Uber drivers are entitled to basic workers' rights, an employment tribunal announced today, in a landmark legal case. The hearing at a London employment tribunal is the first case of its kind in the UK. The action was brought by the GMB union which represents drivers, and law firm Leigh Day. Nigel Mackay, employment lawyer [...]
The House of Lords is investigating the pros and cons of driverless cars October 28, 2016 Anyone feeling edgy about the progress of driverless cars and their imminent arrival on UK roads can rest easy (sort of). Next week the House of Lords will get cracking on its inquiry into autonomous vehicles and their future on UK roads. The science and technology committee will meet on Tuesday 1 November and hear evidence [...]