British Steel secures £500m contract with Network Rail Transport and infrastructure British Steel has won a £500m contract with Network Rail in a deal that helps secure the future of its Scunthorpe steelworks. The agreement will see British Steel supply up to 80,000 tonnes of rail per year to the body which manages the UK’s railway infrastructure, around 80 per cent of the track it needs. [...]
Firstgroup: Profit at Avanti West Coast owner beats expectations Transport and infrastructure Transport giant Firstgroup has extended its share buyback program by £50m after annual revenue came in ahead of forecasts. The additional £50m buyback program follows Firstgroup’s return of £92m to shareholders in the 2025 financial year. The group also raised its dividend to 6.5p, up from 5.5p last year. The FTSE 250 company told markets [...]
Eurostar tells rivals to put their money where their mouths are Transport and infrastructure Eurostar has called on its rivals to invest in the UK’s capacity for international rail as it insisted it welcomed increased competition. The Temple Mills depot in East London is currently the only place in the UK that can host high-speed, cross-channel trains to and from Europe. It has become a central part of the [...]
Avanti West Coast co-owner to launch €1bn Eurostar rival April 8, 2025 A co-owner of Avanti West Coast has confirmed plans to launch a €1bn (£856.6m) rival Eurostar which would run services between London and Paris. FS Italiane Group is looking to run a high-speed rail service between the two capitals by 2029. The group, which co-owns Avanti West Coast alongside FirstGroup, has put aside €1bn for [...]
Trainline shares tumble as further rail ticketing plans unveiled February 19, 2025 Trainline shares tumbled almost nine per cent on Wednesday as the government unveiled more details on how sweeping railway reforms will impact the ticketing sector. Great British Railway (GBR), the arms-length body that will oversee the UK’s railway system, is set to bring together individual train operator’s onto a single website. The Department for Transport [...]
Trainline on track for European expansion as state-backed rival nears January 28, 2025 The boss of Trainline has outlined his European expansion plans as the online ticket giant faces government-backed competition at home.
RMT union boss Mick Lynch to step down January 9, 2025 Mick Lynch, the RMT general secretary who gained national notoriety during a series of train strikes in recent years, is to retire. Lynch, 63, was elected general secretary in 2021 after previously serving two terms as assistant general secretary and another two on the union’s national executive committee executive. The union boss has become a [...]
Rail regulator orders HS1 to slash spending on Eurostar route January 6, 2025 The Office of Rail and Road has ordered HS1 to lower its spending from April 2025, after finding it did not meet its duties for efficient spending. The 109km high-speed rail line was ordered to bring charges down by 3.8 per cent compared to its latest plans, saving passengers and freight trains as much as [...]
HS2 chair to step down as cost swells to £66bn December 17, 2024 The chair of the company behind High Speed Two (HS2) is to stop down next year, it has been announced. Sir Jon Thompson has served on the board of HS2 Ltd for almost four years after first joining as a non-executive director in April 2021. He was appointed as the company’s chair in February 2023 [...]
HS2: Costs for London Euston section reach over £7.5bn December 10, 2024 Rachel Reeves confirmed in the Autumn Budget HS2 will terminate at Euston station, following a political kerfuffle over how to find the necessary funding.