Cancelling HS2 contracts to cost hundreds of millions of pounds October 5, 2023 Paying off contracts previously awarded for cancelled HS2 sections will cost hundreds of millions of pounds, Transport Secretary Mark Harper has indicated. He told BBC Breakfast that the cost of pulling out of the agreements will “broadly balance out” with money recovered from selling land and property acquired for the high-speed railway. HS2 Ltd figures [...]
London’s Millennium Bridge near St Paul’s to shut for three weeks for urgent repair work October 5, 2023 The Millennium Bridge across the River Thames is to shut for three weeks for urgent maintenance work. The footbridge, dubbed the “wobbly bridge” when it opened in 2001, is not dangerous but a separation layer under the bridge deck has started to degrade and it needs a deep clean, its City Bridge Foundation (CBF) owners [...]
HS2’s northern leg scrapped: What’s being planned instead – and has London been snubbed? October 5, 2023 It seemed unthinkable not long ago, but Rishi Sunak scrapped the Manchester leg of HS2 – and said it will be replaced by hundreds of new projects. The scrapping means everything past the London to Birmingham leg, which is already under construction, will be torched, with the PM citing ballooning costs for pulling the plug. [...]
Long time Rolls-Royce CEO Torsten Müller-Ötvös to retire October 5, 2023 Rolls-Royce Motor Cars has announced that chief executive Torsten Müller-Ötvös will retire, bringing to an end a 14-year stint at the helm.
This™: Plant-based protein firm backs profitability despite fears UK’s appetite for vegan food is waning October 5, 2023 The boss of plant-based protein maker This™ has insisted the firm is on track for profitability, despite fears the appetite for vegan products is fading.
National Grid reassures shareholders over US earnings with bullish update October 5, 2023 National Grid has told shareholders to expect further contributions to its earnings per share in the second half of the year.
Bank of England warns banks have not learnt lessons from Truss gilts turmoil October 5, 2023 The Bank of England (BoE) said on Thursday it was disappointing that some of the banks it regulates have not tackled shortcomings in how they manage risks from customers after turmoil in UK government bond markets last September.
Metro Bank bosses summoned for meeting with City watchdogs after share price slump October 5, 2023 The bosses of Metro Bank have been called in to emergency meetings with the UK's financial watchdogs after its shares slumped over 20 per cent this morning.
Tech firms listing in London? That’s a red flag, says short seller Carson Block October 5, 2023 Any tech firm that lists in London should raise alarm bells, short seller Carson Block has said today, as he took aim at the City’s “clubby” culture and focus on pedigree.
Housebuilding slide leads to steepest fall in construction for three years October 5, 2023 Activity in the UK's construction sector decreased at the fastest rate since May 2020 as housebuilding slumped.
