TfL secures 1bn loan from EIB to help fund Crossrail September 7, 2009 TRANSPORT for London (TfL) has secured a £1bn loan from the European Investment Bank (EIB) to finance 40 per cent of its contribution to the Crossrail project, it will say today. “For the EIB to agree to the loan facility provides international recognition of Crossrail’s importance and is a further milestone in the delivery of [...]
TfL seeks to smooth out traffic August 18, 2009 Transport for London (TfL) is set to smooth traffic flow by identifying traffic hotspots, it said yesterday. Intelligent traffic cameras that detect jams as they build up are set to revolutionise the way TfL tackles congestion in the Capital. Twenty cameras fitted with special image recognition technology have been put at traffic hot spots across London.
WHAT THE OTHER PAPERS SAY THIS MORNING August 12, 2009 FINANCIAL TIMES BHP CALLS FOR MARKETS TO SET IRON ORE PRICESBHP Billiton, the world’s biggest miner, has made a plea for the “emotion and anxiety” to be taken out of the iron ore business with a shift to market-based pricing like oil or coal. The plea by Marius Kloppers, chief executive of BHP, came a [...]
LCCI speaks out on the C-charge August 6, 2009 The London Chamber of Commerce spoke out yesterday after TfL said it was looking into congestion charge exemptions for low emission cars, calling for more relaxed rules for businesses. “It would make much more sense for TfL to consider how to mitigate the effects for businesses, who are particularly badly hit by the C-charge,” it [...]
Strike threat as tube staff are balloted July 7, 2009 THOUSANDS of London commuters face further disruption this summer, as 600 staff at London Underground (LU) prepare to be balloted on industrial action, after union leaders rejected a final pay offer. Unite union said LU’s offer of 1.5 per cent in the first year and retail prices index (RPI) plus 0.5 per cent in the [...]
TfL minds the funds gap June 21, 2009 TRANSPORT for London has narrowed the tube funding gap by £2.5bn with a massive cost cutting drive. The new budget plan for three quarters of the tube network includes deferring upgrades, axing 1,000 jobs and rewriting engineering contracts. Under the plan, set to be announced on Wednesday, £800m will be saved by postponing work on [...]
Boris plans RMT talks June 17, 2009 TALKS between warring London Underground (LU) and the Rail and Maritime (RMT) union will resume tomorrow, London mayor Boris Johnson said yesterday, as fears of further tube strikes grow in the capital. Discussions between the two parties collapsed last week, leading to a 48 hour strike London’s 3.5m commuters, and a slanging match between both [...]
WORST CITY FIRMS TO JOIN ROLL OF HONOUR June 14, 2009 FANCY awards dinners have a reputation for being duller than dishwater, so it’s refreshing to hear of an upcoming ceremony that aims to break the mould. That’s right: the Sharecrazy Worst Company of the Year awards are back by popular demand, having gone down a treat with frazzled City folk last time around at a [...]
City chaos as strikes go ahead June 9, 2009 LONDON was thrown into chaos last night as London Underground (LU) staff staged a 48-hour walk-out. Last-ditch talks between RMT union officials and LU bosses fell apart just before the 7pm strike start-time, as the union accused transport chiefs of “pulling the rug from under a workable agreement” by bringing in lawyers. Transport for London [...]
Crossrail causes Oxford St closure June 9, 2009 Retailers are up in arms after Transport for London (TfL) confirmed yesterday that a large stretch of Oxford Street is to be closed for work on the £16bn Crossrail project. The street will be closed to east-bound traffic between Newham Street and Tottenham Court Road, while construction workers replace and repair the ancient water and [...]