City bosses rejoice as TfL funding deal announced August 30, 2022 CITY bosses have rejoiced after a long-term funding deal was agreed today between the central government and TfL. The London Chamber of Commerce said businesses “will be breathing a sigh of relief” while Centre for London’s boss Nick Bowes added that TfL will now be able to get on with running the transport system without [...]
DEAL DONE: Transport for London signs funding settlement with government August 30, 2022 Transport for London (TfL) has signed a long-term funding deal with central government to keep London moving until spring 2024. It comes after two years of fraught negotiations between the TfL and the government after passenger revenues fell due to the pandemic’s impact. The deal was signed off by Transport for London at a board [...]
Today: TfL bosses rush into emergency meeting over £3.6bn funding as tube’s future hangs in the balance August 30, 2022 Tube bosses are rushing into an emergency meeting to discuss a government long-term funding worth £3.6bn. Headed by London mayor Sadiq Khan, TfL’s board meeting started at 12pm today but it remains unclear whether TfL bosses will accept the proposal, which was initially put on the table by transport secretary Grant Shapps on 22 July. [...]
Concrete plans: Will cement-free concrete ease emissions? August 29, 2022 City A.M. looks at whether cement-free concrete could prevent new green projects being undermined by heavy emissions.
Soaring inflation risks creating UK property ‘insurance gap’ August 25, 2022 SOARING inflation in the construction sector threatens to create a major “insurance gap” amongst UK policyholders, London headquartered insurer Chaucer has warned. Sharp increases in the costs of building materials could leave homes and businesses underinsured, as policies fail to cover the cost of repairing and rebuilding damaged properties, research carried out by the Lloyd’s of [...]
Unite warns of disruption to Notting Hill Carnival as bus drivers strike on Bank Holiday August 24, 2022 Unite has warned of travel disruption for those going to the Notting Hill Carnival as over 1,000 bus drivers working for London United are set to strike during the Bank Holiday weekend. Striking bus drivers operate from several depots including Park Royal, Shepherd’s Bush and Stamford Brook, which serve routes close to the carnival. Transport [...]
TfL board to meets next week to decide long-term funding deal August 24, 2022 Transport for London’s (TfL) board is set to meet next Tuesday to discuss the government’s long-term funding deal. TfL has confirmed the meeting will take place next week, but it remains unclear whether the board will accept the proposal made by transport secretary Grant Shapps on 22 July. The public body has been locked in [...]
1,000 new public EV chargers get £20m boost for UK-wide for roll-out August 24, 2022 The UK Government and industry have pledged over £20m for the roll-out of 1,000 new public electric vehicle (EV) chargers across England. The Local EV Infrastructure pilot scheme has received £10m as part of the government’s £450m EV charging strategy for local authorities, which aims to increase the number of public EV infrastructure by a [...]
Crossrail bosses to advise Israel on building £33bn Tel Aviv metro August 24, 2022 Bosses of Crossrail are to advise on a new state-of-the-art £33bn metro system for the Israeli city of Tel Aviv. Transport secretary Grant Shapps is in Israel this week and has met his counterpart, agreeing the deal as part of a post-Brexit memorandum of understanding signed earlier in the summer. This comes after the completion [...]
Europe’s gas crisis: what does it mean for investors? August 23, 2022 Europe faces high gas prices and potential shortages as supply from Russia dwindles. We ask our investment experts what this means for companies, the energy transition, and the eurozone economy. Europe’s precarious gas supply situation has been a prime focus for markets ever since Russia’s invasion of Ukraine at the end of February. The European [...]