Boris Johnson must throw his support behind London to ensure an economic recovery May 20, 2021 Many people are overjoyed to return to central London and the streets are slowly coming back to life as colleagues, friends and families meet in outdoor cafes, restaurants and bars. Talk to any cabbie or shopkeeper and they’ll tell you that business and footfall is a long way from pre-pandemic levels. Hopes are pinned on [...]
Flexible season tickets on sale from 21 June under new rail plan May 20, 2021 Flexible season tickets will go on sale from 21 June as part of newly announced reforms that represent the most comprehensive overhaul of the UK’s railways in decades. The long-awaited Williams-Shapps review, which was first mooted nearly four years ago, has finally been published by the Department for Transport (DfT). The paper proposes a number [...]
First Group signs new deals for South Western Railways and Transpennine Express May 20, 2021 First Group has this morning agreed new contracts to continue running South Western Railway and the Transpennine Express. The new deals, the first contracts to be awarded under new plans to reform the UK rail network, will start at the end of May and last for two years. There will be the option to extend [...]
Croydon tram crash: Driver may have had ‘micro-sleep’ May 19, 2021 The driver of a tram involved in a fatal crash in Croydon in 2016 may have been “disorientated” following a so-called micro-sleep, an inquest has heard. Simon French, chief inspector for the Rail Accident Investigation Branch (RAIB), said there was evidence the driver thought he was travelling in the wrong direction. He told an inquest [...]
Senior Credit Suisse bankers flee to Barclays, Goldman and Citi after Archegos disaster May 19, 2021 About a dozen managing directors at Credit Suisse have recently left the banking giant or are in the process of doing so, with most of them poached by rivals including Barclays, Goldman Sachs and Citibank. Moreover, a range of senior bankers are expected to announce their departure in the coming weeks, with several others also [...]
Eurostar receives £250m refinancing package after months of waiting May 18, 2021 Eurostar today announced that it had received a £250m refinancing package from a group of banks in a bid to shore up its finances amid the Covid-19 pandemic. The firm said that the deal, which comprises £50m shareholder equity, £150m shareholder guaranteed loans and £50m restructured existing loan facilities, would be guaranteed by majority shareholder [...]
TfL granted 10 day funding extension as negotiations continue May 18, 2021 Transport for London (TfL) this morning announced that the government has extended its current funding deal for 10 more days while it continues to negotiations over a new package. The transport operator’s current deal, itself an extension of an earlier agreement, was due to expire today. But the network said the deal had been extended [...]
London e-scooter trial to launch in the City next month May 18, 2021 London’s trial of rental e-scooters will begin next month, it has been confirmed, with the City and Canary Wharf among the first areas to test the transport system. The financial hubs have been tapped alongside a core group of boroughs to take part in the trial, which will begin on Monday 7 June. More areas [...]
An unholy alliance between the Tories, Greens and Lib Dems could hold Sadiq Khan’s feet to the fire May 17, 2021 The London Assembly rarely cuts through in the news landscape. It’s committee structure does not quicken the pulse or stiffen the sinew. This is in some ways a pity, as the assembly has wide powers to scrutinise the activities of the elected mayor and can, in some circumstances, even amend his budget or reject strategic [...]
Can global cities still thrive after the Covid-19 crisis? May 17, 2021 The Covid-19 pandemic has led to many changes in the way people live and work. With many forced to work from home during lockdown, some people are now questioning whether they need to live in the city in which they work. This has prompted much speculation in the media about the future of global cities [...]