Fresh Tube strike looms as RMT ballots over driver-free trains September 27, 2012 TUBE union the RMT yesterday said it will ballot drivers for industrial action over plans to introduce driverless trains to the London Underground. The union is angry at imminent tests of driver-free Tube trains on the Jubilee line, which it argues could lead to unstaffed stations and ticket offices. “Every train must have a driver, [...]
Bidders line up to take on the Essex Thameside rail franchise September 27, 2012 FOUR companies are believed to have submitted bids for the Essex Thameside rail route by yesterday’s deadline. The Department for Transport received proposals from National Express, which currently runs the route under the c2c name, as well as FirstGroup, Abellio and London Overground operator MTR. All four firms were shortlisted last March. The winner, to [...]
Petrofac nets $200m contract September 27, 2012 Oil services firm Petrofac yesterday announced it had been awarded a $200m (£123m) deal by Kuwait Oil Company for a new power distribution network. The engineering, procurement and construction contract, which will take 24 months to complete, involves FTSE 100-listed Petrofac building substations and improving power supplies to Kuwait’s onshore oil fields.
Production up at Atlantic Coal September 27, 2012 Pennsylvania-focused Atlantic Coal yesterday unveiled increased production and revenues over the first six months of 2012. The AIM-listed coal production firm reported a 17 per cent increase in coal production to 69,415 tonnes, up from 59,533 tonnes last year. Revenue spiked 19 per cent to $8.9m (£5.4m), up from $7.5m in the first half of [...]
Frontera Resources reports loss September 27, 2012 Frontera Resources swung to a loss in the first half of this year, reporting a net loss of $4.4m (£2.7m) from $11.2m over the first half of 2012. The oil and gas exploration and production company, whose core operations are in Georgia, reported increased crude oil sales of $3.3m, up from $3.1m last year. The [...]
Second quarter US GDP growth revised down September 27, 2012 US GROWTH estimates for the second quarter were slashed yesterday while durable goods sales slumped, but American unemployment continued on its steady downward trend. Real GDP increased at an annualised rate of 1.3 per cent in the second quarter, the Bureau of Economic’s third estimate revealed, lowering its second estimate by 0.4 percentage points. On [...]
Industry body says new house undersupply is getting worse September 27, 2012 HOUSE BUILDING continued to slump in 2012, a lobby for homeowners revealed today, continuing the chronic undersupply in the UK market. New home registrations declined to 9,553 in August, four per cent below last year’s figure of 9,978, according to data from the National House-Building Council (NHBC). This brought the total for the year-to-date up [...]
Lack of lending hurting retailers September 27, 2012 The lack of mortgage lending to first time buyers is not only hurting the housing market, but also retailers selling tools, homewares, and furniture, data revealed today. Boosting lending would have a knock-on effect on these markets, the data released jointly by Genworth, the British Retail Consortium and KPMG showed. “A lack of lending leads [...]
UK consumers less downbeat September 27, 2012 UK consumer confidence grew in September, an index from market research firm GfK revealed today, but households were still gloomy. Their headline index grew from minus 29 in August to minus 28 in September, putting the index two points above September last year. “Even a one point increase…will offer some grounds for optimism to the [...]
Under 40s plan to leave the UK September 27, 2012 A growing proportion of UK citizens under the age of 40 are seeking advice from wealth managers about moving overseas, the deVere group claimed yesterday. The third quarter saw a 36 per cent upturn in the number of under 40s seeking advice on emigrating, the firm said. But chief executive Nigel Green said the country [...]
