Royal Mail share price falls as government sells off last 13 per cent stake – with one per cent going to staff October 13, 2015 Royal Mail's share price pushed the FTSE down this morning as the government revealed it had sold off its last 13 per cent stake in the business, with the remaining one per cent being gifted to eligible staff. The final tranche of shares was sold for 455p per share, taking the total raised from the sale to [...]
Worldpay’s London IPO will be biggest of 2015: Listing at 240p per share, valuing company at £4.8bn October 13, 2015 Payments processor Worldpay Group has priced its initial offer at 240p per ordinary share – almost exactly in the middle of expectations – meaning the company will have a market cap of £4.8bn when it goes public. This makes it the biggest float this year, easily besting Auto Trader, which went public in March with a valuation [...]
TfL’s Tube plans could lead to “millions more” lost in fare evasion, claims Labour’s London Assembly transport spokesperson Val Shawcross October 13, 2015 Transport for London has been accused of "making life easy for fare dodgers" by Labour's London Assembly transport spokesperson Val Shawcross. Using TfL's own data, Shawcross estimates that fare evasion costs the network £61m each year because of ticket barriers being left open. The data compiled from TfL's regular mystery shopper exercises shows that barriers were left open 6.9 [...]
SSI coke ovens and blast furnace to be closed after no viable offer was made for Redcar plant October 12, 2015 SSI's Redcar steel plant will be closed after no viable offers were received from potential buyers, the government confirmed this afternoon. SSI was wound up by the high court in Manchester last week at the company's request, but the Official Receiver had kept the site running while talks took place with interested parties, in the hope [...]
Camden Tube refurbishment: Transport for London proposes “substantial” upgrade of north London station October 12, 2015 Transport for London has set out its plan for a major overhaul of Camden Town Tube station to make it fit for the volume of traffic the north London stop receives each day. TfL said the station, which is used by more than 80,000 people a day, would "completely transformed" under the plans, which have been [...]
Government to give one-off milk payment for dairy farmers as Morrisons launches premium milk brand October 12, 2015 Struggling dairy farmers across the UK are to receive a one-off payment to help ease their cash-flow problems caused by the volatile price of milk, the government announced today. Farmers in the four nations of the UK will receive a cut of £26.2m between them. The Rural Payments Agency (RPA) plans to ensure the aid reaches [...]
Angus Deaton wins Nobel Prize for Economics 2015 October 12, 2015 Princeton University professor Angus Deaton has been awarded The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for 2015 "for his analysis of consumption, poverty, and welfare". The Edinburgh-born microeconomist had enhanced understanding of how individual consumption choices affected welfare and poverty "more than anyone else", the prize organisers said. "By linking detailed individual choices and [...]
London airport expansion: Heathrow claims expansion would “supercharge” northern powerhouse as mayoral candidates Zac Goldsmith and Sadiq Khan condemn plans as “madness” October 12, 2015 Heathrow has said its expansion would "supercharge" plans to build a northern powerhouse, as critics of the plans for a third runway swell. The west London airport is going all-out to win government support for expansion, claiming it would be a "driving force in rebalancing the UK's economy". The third runway would create a further 180,000 jobs, 95,000 of which [...]
Tesco launches “immediate” price match guarantee against Sainsbury, Asda and Morrisons October 12, 2015 Tesco has launched a new "immediate" price match service, promising to give money back to customers if they could have bought branded goods cheaper elsewhere. Tesco's Brand Guarantee will enable customers to receive money off their bill at the checkout – both in person and online – if the overall cost of their branded grocery shop [...]
Power outage and signal failures cause disruption on Victoria, Piccadilly and Metropolitan Lines October 12, 2015 A signal failure at Finchley Road was causing severe delays on the Metropolitan Line this morning, while a power outage was preventing Victoria Line trains from stopping at Blackhorse Road station. Transport for London has been reporting delays on the Metropolitan Line since around 5am this morning, but by 7am was advising commuters to use the [...]
