Eurotunnel’s share price drops after profit warning July 20, 2016 Eurotunnel has warned over its earnings this year and next after the pound's rapid plunge in the wake of last month's Brexit vote. The Channel Tunnel operator said its 2016 objective of €560m (£469m) in earnings before interest, taxation, depreciation and amortisation (Ebitda) was now €535m due to a change in the exchange rate. Meanwhile, its [...]
Volkswagen shares jump on surprise trading update showing operating result ahead of expectations July 20, 2016 Motor manufacturer Volkswagen boosted its share price today with an ad-hoc trading update containing positive profit news. The company said its operating results before special items is "significantly higher than market expectations for the first half of 2016" at €7.5bn (£6.3bn), "despite the ongoing economic impact from the diesel issue". Volkswagen was engulfed in scandal last [...]
Sadiq Khan urges Transport for London to take “immediate control of Southern Rail” until problems are resolved July 20, 2016 Transport for London should take immediate control of Southern Rail until problems on its lines are resolved, the mayor of London has said. Sadiq Khan has come out today to voice concern over the service and state he urgently wants to put a top TfL team in charge of failing Govia Thameslink Railways' Southern franchise. [...]
Rail lines reopen at Forest Hill after sinkhole is fixed July 20, 2016 Rail lines have reopened at Forest Hill station in South London, after two days of travel disruption due to a sinkhole under the tracks. Southern Rail said lines were open again but some train services have been "short formed due to stock displacement" – meaning there may be less seats for commuters. The sinkhole opened [...]
Uber’s heading to the UK courts over workers’ rights July 20, 2016 Uber and its drivers will head to court today to battle it out in a legal case over workers' rights. The hearing at an employment tribunal is due to begin in London and is expected to rule on the status of some Uber drivers in the first case of its kind in the UK. The action [...]
Low-cost airline Wizz Air takes its UK business elsewhere “as a direct result of Brexit” July 20, 2016 Wizz Air has halved its plans for growth in the UK in the second half of the year after the Brexit vote. The low-cost airline operator said it would be redeploying this capacity for growth to non-UK routes. Its share price shot up four per cent on Wednesday morning as it announced the news and [...]
More commuter chaos at London Bridge as station buckles on hottest day of the year July 19, 2016 Commuters travelling through one of the capital's most troubled railway stations were plunged into yet more misery this evening in blistering London heat. Trains through London Bridge and Cannon Street were delayed by up to 45 minutes through peak rush hour traffic this evening due to signalling disruption. The misery follows reports of a sinkhole [...]
Sinkhole at Forest Hill disrupting rush hour commute with trains delayed going in and out of London Bridge July 19, 2016 A large sinkhole below a rail track near Forest Hill in south London has led to a number of train delays and cancellations between East Croydon and London Bridge. Southern Rail warned that lines will remain closed until the end of the day, with a reduced service running out of London Bridge, following travel chaos on [...]
Transport for London to give out free Evian to Tube passengers July 18, 2016 A summer Tube journey is never exactly great, especially if you're cramming on to a commuter train. But tomorrow, for one day only, that journey will be a little more bearable, as Transport for London teams up with Danone to give up free Evian to passengers. For the third year in a row TfL will [...]
The new transport secretary says it’s full speed ahead for HS2 July 17, 2016 It's full-speed ahead for the High Speed 2 rail project – despite concerns over budget-busting costs and criticism that it is flawed a "vanity project". Newly appointed transport secretary has said the £56bn project to bring high speed train travel between London and cities in the North, including Leeds, Birmingham and Sheffield, will remain on track. "I have [...]