Transport for London debt downgraded by ratings agency due to “uncertain” financial future FUNDING BROUHAHA A MAJOR ratings agency has downgraded Transport for London’s (TfL) debt due to the “uncertainty” of its long-term funding, in a further sign of the financial difficulty the operator finds itself in. Moody’s announced it had downgraded TfL’s long-term debt as a result of weaker economic growth and higher inflation delaying the service’s return to [...]
Today: Tens of thousands of Post Office workers stage a strike as they demand more pay happening today A one-day strike by Post Office workers in a dispute over pay started this morning. Members of the Communication Workers Union (CWU) voted overwhelmingly in favour of industrial action in April. The union said the strike is over a pay freeze for 2021 and the offer of a 2 per cent increase from April this [...]
UK audit chief in the running for HS2 top job UK audit reform The head of the UK’s accounting watchdog is reportedly in the running to lead the High Speed 2 rail construction project, raising further questions about the future of the country’s audit regime. Sir John Thompson, chief executive of the Financial Reporting Council (FRC), is in the frame for becoming the new chair of the project, [...]
Go-Ahead on the path to recovery as it reinstalls trust with DfT April 27, 2022 Go-Ahead has emerged from the challenging conditions of the pandemic with a strong recovery in passenger numbers and healthy profits.
Fuel price rise means cost of running a car jumps 17 per cent April 25, 2022 Huge jumps in fuel prices have contributed to a rise in the cost of maintaining a car by 17 per cent to £3,500. Motorists are spending on average £1,435 to fill up their car each year, which is a £960 rise, according Insurance Revolution. The fuel jump rise means some road-users have started to use [...]
Most employees push for remote working following fuel price surge April 18, 2022 Most employees are pushing for remote working patterns as a result of the surge in fuel prices. According to 3,000 people survey by recruiter Randstad, nine out of 10 cite the cost-of-living crisis, and in particular hiking fuel prices, as the main reason for remote working. “For people who have to drive, being hit by [...]
UK to level up local transport with £7bn investment April 4, 2022 The UK Government announced today it will invest £7bn to level up the country’s local transport system. Transport secretary Grant Shapps tweeted that the funding will be use “to roll out cheaper, better bus services outside of London”, providing upgrade to tram, cycling and rail networks too. Under the scheme, 31 counties, city regions and [...]
Bus routes disrupted as drivers carry on with 48-hour strike against operator Arriva March 29, 2022 Around 30 London bus routes were disrupted in the last two days, as drivers continue to carry on with their 48-hour strike against bus operator Arriva London. The walkout was scheduled to last from yesterday until 3am tomorrow. Called on by the union Unite on Friday, the strike involves drivers based in depots around Croydon [...]
Transport secretary vows to force P&O to pay UK minimum wage and ‘U-turn’ on firing decision March 25, 2022 Transport secretary Grant Shapps has said he will force ferry operators to pay UK minimum wage whilst they’re in international waters, after calling for P&O boss Peter Hebblethwaite to resign from his position as head of the Dubai owned firm. The Tory minister said he will close the “loopholes” that let shipping companies pay seafarers [...]
P&O ‘chose’ to break the law by firing 800 people, company boss says March 24, 2022 P&O Ferries’ chief executive has admitted the ferry operator broke the law by failing to consult employees and unions before sacking 800 people. Peter Hebblethwaite told MPs there was “absolutely no doubt” P&O broke UK employment laws, as he admitted the ferry firm “chose not to consult” employees and unions. “We chose not to consult [...]