Exclusive: Transport for London aware of Croydon tram fatigue problem two years before deadly crash October 29, 2020 Transport for London (TfL) officials were told of concerns about driver fatigue on the Croydon tram network two years before a fatal crash which killed seven people – believed to have been caused by a driver falling asleep. An independent audit of the Croydon Tramlink carried out in March 2014 and seen by City A.M. [...]
Shaun Bailey accuses Sadiq Khan of wasting nearly £10bn of TfL cash October 29, 2020 Conservative London mayoral candidate Shaun Bailey has today accused Mayor Sadiq Khan of wasting nearly £9.6bn in Transport for London (TfL) finances since 2016. According to Bailey, the failure to deliver the Crossrail rail link on time has cost £5.2bn, while pensions have drained £828m from TfL’s finances over the period. A freeze of Tube [...]
Snakes and Ladders: Who is moving jobs in the City this week? October 28, 2020 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. City firms are continuing to adapt to the challenges and opportunities presented by the pandemic as they vie to be in prime position to recover from the economic fallout of the crisis. This [...]
DEBATE: Is Sadiq Khan right to refuse to expand London’s congestion charge zone? October 28, 2020 Is Sadiq Khan right to refuse to expand London’s congestion charge zone? JOIN THE DEBATE Wes Streeting, Labour MP for Ilford North, says YES When Boris Johnson was mayor of London he promised Londoners: “I am not going to be having any more congestion charges”. Yet now, his government is trying to force exactly that [...]
Tough on dirty money? The UK has a way to go October 28, 2020 In 2016, the National Crime Agency estimated that £90bn is laundered via London each year. The UK government’s response was swift, with a commitment to “block dirty money flowing into the City of London”. It unveiled radical plans to “overhaul the approach to tackling economic crime, with greater partnering between the government, law enforcement and [...]
City of London demands answers on reopening of Waterloo and City Line October 27, 2020 The City of London’s policy chair has written to Transport for London’s commissioner seeking clarity on when the Waterloo and City Tube line will be reopened. The line – which travels directly between Bank and Waterloo stations – was closed when the country was put into the initial coronavirus lockdown in March and is the [...]
Exclusive: City Hall and government urged to tackle capital’s ‘jobs crisis’ October 27, 2020 The government and City Hall must work together to tackle the jobs crisis that is set to see more than 130,000 Londoners fall into long-term unemployment in 2020/21, a new report shared exclusively with City A.M. has argued. The Learning and Work Institute’s (LWI) report said Londoners had been hit particularly hard by the coronavirus [...]
Former prime minister David Cameron backs black internship initiative October 26, 2020 Former Prime Minister David Cameron is among high-profile figures who have thrown their weight behind a new initiative aimed at increasing the number of internships available to black candidates. The 10,000 Black Interns initiative, set to launch tomorrow, is designed to boost the number of paid work experience positions for young black people in major [...]
Astrazeneca shares up on Covid-19 vaccine hospital rollout reports October 26, 2020 Astrazeneca [LON:AZN] shares rose nearly 2.5 per cent today after it was reported that UK hospitals were preparing for the rollout of the first doses of its coronavirus vaccine. Staff at a major London hospital trust have been told to be ready to receive the first batches of the vaccine, which is being developed in [...]
Bank of England considering to permit banks to restart dividend payments next year October 26, 2020 The Bank of England and UK banks are reportedly “bartering” a deal that would allow banks to restart paying dividends from next year in order to boost lending and drive the economy. According to a report in The Times, the Bank of England has agreed to the change in policy as long as banks’ loss-absorbing [...]