Balfour Beatty shares slump as veteran chief Leo Quinn steps down March 5, 2025 Shares in Balfour Beatty slumped on Wednesday after veteran chief executive Leo Quinn announced plans to step down. Quinn departs following a more than 10-year stint leading the UK’s biggest contractor, during which time he significantly reduced debt and put the company on the path to profitable growth. Shares fell more than four per cent [...]
HS2 is beyond saving and poses risk to UK’s reputation, MPs conclude February 28, 2025 HS2 is beyond saving and must be studied by future governments as a “cautionary tale” on how “not to run a major project,” a cross-party group of MPs has concluded. In one of its most damming-ever reports, the Public Accounts Committee (PAC) said it was “long past the point” of offering recommendations on how to [...]
HS2 pushed government to keep ‘unjust’ compensation rules for ousted locals February 12, 2025 Bosses at HS2 pushed the government to keep an obscure law that enabled it to pay millions less in compensation to residents and businesses forced from their homes during construction, City AM can reveal. Internal documents obtained via FOI show how HS2 understood the arcane clause would cause “significant distress” and destroy jobs and livelihoods, [...]
HS2: Key Euston contract faces foul play allegations February 3, 2025 Construction giant Lendlease is leading the £4bn regeneration of Euston but is in the process of exiting its international operations.
Government too involved in HS2, warns top infrastructure adviser January 15, 2025 Too much government involvement in HS2 has hampered delivery and fuelled massive cost overruns and delays, according to a key infrastructure adviser. Sir John Armitt, chair of the National Infrastructure Commission, told MPs he had “never been convinced by the governance structure of HS2,” having been influenced by his own experience delivering the infrastructure for [...]
Auditor says EDF should push back decision on Sizewell C investment January 14, 2025 EDF should not make a final investment decision on the Sizewell C nuclear project until it has reduced exposure to its sister development, Hinkley Point C, according to France’s state auditor. In comments published on Tuesday, the Cour des comptes also said the French nuclear company should not take on new nuclear developments at home [...]
A New Year’s resolution for government: Stop setting targets January 9, 2025 From HS2 to Net Zero, governments have a habit of setting ambitious long-term goals and failing to deliver. Instead of targets, we need long-term plans to fix the nation’s problems, says John Oxley The New Year almost always brings with it talk of resolutions, intentions and targets. This is true of governments too . In [...]
HS2’s new boss Mark Wild warns the company is in a ‘very serious situation’ December 30, 2024 HS2 is in a “very serious situation” and needs a “fundamental reset”, the new boss of the company building the high-speed railway has warned. Mark Wild, chief executive of HS2 Ltd, said he is committed to ensuring the railway opens “safely and efficiently”. Earlier this month, HS2 Ltd estimated the cost of building the railway [...]
Mark Kleinman: Hold the Telegraph front page – then hold it some more December 27, 2024 Mark Kleinman is Sky News’ City Editor and is the man who gets the Square Mile talking in his weekly City AM column. This week he tackles the Telegraph bid, Mike Ashley’s failed Boohoo approach and an oil deal in the North Sea I suspect you’d have got long odds on January 1 on the auction of The Daily [...]
New HS2 chief can’t be sorry for £100m bat shed December 19, 2024 Mark Wild said construction of the structure in Buckinghamshire was the "most appropriate" way to "comply with the law."