The year in preview: Our in-depth guide January 5, 2014 City A.M.’s journalists take a wide-ranging look at what 2014 has in store for the world of finance and business BANKINGRestoring faith means costly overhaulsA CAUTIOUS optimism pervades the British and European banking system at the start of 2014. The incoming economic recovery is at last improving customers’ creditworthiness, while the hard work running down [...]
Touchless bus fares pass first year December 15, 2013 More than 6.5m journeys on London’s buses were paid for with contactless bank cards in the first year of the technology’s use, according to Transport for London. This represents less than one per cent of the 2.3bn bus trips taken, but TfL said interest in the scheme is growing as it passes its first anniversary. [...]
As Barclays backs out of bike deal, here are 4 ways TfL can attract greater sponsorship December 11, 2013 In the wake of the announcement that Barclays will not renew its sponsorship of the London bike hire scheme, here are four ways that Transport for London (TfL) could attract greater commercial investment. 1. TfL should be more active in seeking sponsorship In a report for GLA Conservatives, Gareth Bacon suggested TfL should be more [...]
Barclays to end its sponsorship of Boris Bikes December 10, 2013 BARCLAYS will not renew its sponsorship of the London bicycle hire scheme when it ends in 2015, it confirmed last night. The bank signed a deal worth £50m to sponsor the bikes, named colloquially after London mayor Boris Johnson, in 2010. But in a joint statement with Transport for London, Barclays said it will not [...]
TfL plans for £4.2bn more cuts December 4, 2013 Transport for London has pledged to save a further £4.2bn over the next seven years – though its plans assume that fares will rise by more than inflation after 2014’s price hikes. TfL has already planned £12bn-worth of savings up to 2021. The extra reductions, sketched out in yesterday’s business plan, will come from closing [...]
Tube and bus fares rise in line with inflation December 3, 2013 THE COST of public transport in London will rise by an average of 3.1 per cent in January, the Mayor of London announced yesterday along with a claim that the change represents a real-term price freeze. Some tickets, including the single bus fare paid in cash and pay-as-you-go daily caps, will be kept at 2013 [...]
Letters to the Editor – 04/12 – Tube fare freeze, Best of Twitter December 3, 2013 Tube fare freeze A real terms transport fares freeze in January is welcome news. But TfL could continue to freeze fares at inflation in future years. It has an annual turnover just shy of £10bn and a capital investment programme in the tens of billions. Freezing fares at inflation for a year costs just £34m [...]
Forget Gatwick bluster: A mega-hub east of London is our only real option December 1, 2013 THE AIRPORT debate is hotting up: the last few days have seen the chief executive of Gatwick Airport practically carpet bombing every media outlet in sight, trying to convince us that expansion at his airport is the only game in town. It sounds a good story (even if one mired in self-interest and distortion of [...]
Tube set to open all night on Fridays and Saturdays November 21, 2013 THE TUBE will keep running through the night at weekends from 2015, in a plan hailed by firms as changing the face of London’s night-time economy. However, unions threatened strike action after TfL announced alongside the night Tube that it was scrapping ticket office staff. Mayor Boris Johnson said London will be “a city fit [...]
Northern Ireland has highest government spend per head in UK November 21, 2013 Government spending in the UK was about the same in 2012/13 as it was in 2011/12. Out of just under £560bn spent in 2012-13, England accounted for £456bn, Scotland £54bn, Wales £30bn and Northern Ireland £20bn. When it comes to spend per head, Northern Ireland topped the chart at £10,876 – 124 per cent of [...]