Serco shares plummet. But it’s all part of a long and winding road to recovery, says its boss February 22, 2017 Serco's share price plummeted over 18 per cent after the FTSE 250 firm posted a 14 per cent fall in profits for the year to December. But analysts warned investors in the supply services giant would likely take flight owing to a cut to forecast earnings in 2018 and an increased tax bill. The figures Total revenue fell [...]
Sadiq Khan is on track to have “the worst strikes record” of any London mayor, say GLA Conservatives February 22, 2017 The mayor is on track for the "worst strikes record of any mayor", Greater London Authority Conservatives said today. In the latest clash between Conservative London Assembly members and Sadiq Khan, Keith Prince, the deputy chair of the Assembly's Transport Committee, said today's walkout on the Central and Waterloo & City Lines will by the fourth strike in [...]
A new Night Tube map will help Londoners find their nearest late night McDonald’s February 22, 2017 The Night Tube has already proved more popular than expected and businesses have been reaping the rewards. And now a new app has been launched to help out Night Tube goers looking for a midnight snack. Or more specifically, a midnight Maccy D's. Read more: Chew on this: McDonald's quarterly earnings beat analyst expectations The Central [...]
How to get from Waterloo to Bank when the Waterloo & City line is down: Tube, bus and walking routes, ranked from fastest to slowest February 22, 2017 Another morning rush hour, another Tube strike affecting the Waterloo & City line. The drain may only be a six minute journey – just under a mile and a half of track – but it carries roughly 15m passengers a year. And when it goes down, City commuters are the ones who suffer the most. But what's the [...]
Our overly centralised tax system has exacerbated the business rates debacle February 22, 2017 Business rates may not be the most captivating subject for most City A.M. readers. But the impact of a delayed revaluation on our shops, pubs and cafes might well be. Changes affecting the £25bn a year tax that ultimately goes to pay for social care, schools, Tube trains and roads are due to come into [...]
Now maintenance workers have voted for strike action on the London Underground, says the RMT February 21, 2017 Maintenance workers on London Underground have voted for industrial action over claims of a breakdown in industrial relations, according to the RMT union. RMT's executive is now considering the result of the ballot, where 67 per cent voted in favour of a walkout and 88 per cent in favour of action short of a strike. There was [...]
Manchester Airport unveils how its £1bn extension will look as boss calls for more investment in the North February 21, 2017 Manchester Airport boss Ken O'Toole has called on the government to inject more investment into the North as the airport unveiled a new glimpse at what its £1bn expansion will deliver. The airport has released a range of new images showing what it will look like following its £1bn investment, which it announced back in 2015. [...]
The case for an infrastructure spending splurge rests on shaky foundations February 21, 2017 As the chancellor prepares his Budget and US President Donald Trump shapes his economic plan, commentators are urging both to engage in significant new spending on transport infrastructure. The conventional case was articulated well by Times columnist Oliver Kamm last week. Only the government can undertake the investment and planning necessary for complex projects such [...]
Drones will transform our cities – and we’re totally unprepared for the consequences February 21, 2017 Drones are everywhere – whether that’s delivering Domino’s pizzas in New Zealand or dancing behind Lady Gaga at the US Super Bowl. With the news that Amazon’s new drone delivery plan includes “package parachutes”, considering how drones will impact our cities in the future is an issue that London must address now. No longer limited [...]
Spending sprees and strikes prove Sadiq Khan is using London as a springboard for his real ambitions: the Labour leadership February 21, 2017 A hypothesis: Sadiq Khan plans to cut and run after a single four-year term as mayor of London. In the meantime he will say and do anything he can to boost his popularity, regardless of the consequences. His motivation? To present himself as a quick-fix, ready-made alternative to the current Labour leader. Khan’s supporters may [...]