Caterpillar shareholders flee as it predicts China slowdown for 2019 January 28, 2019 Digger manufacturer Caterpillar’s shares were down eight per cent in US trading this afternoon after it announced “modest” sales increases. Sales were hit by weakness in its key Chinese market in the final quarter, causing investors to flee. The figures Adjusted profit-per-share for 2018 was $11.22 (£8.52), up 63 per cent, while revenues were up [...]
Sirius shares crash after warning Yorkshire mine costs climb by $600m September 6, 2018 Shares in Sirius Minerals have fallen sharply after the miner said it may need an extra $600m (£464m) to construct its new mine in Yorkshire. The company said the initial $3bn funding for its project to build the Woodsmith polyhalite mine under the North York Moors would also take longer to arrive than previously expected [...]
Interserve shares plunge to lowest level in more than 30 years November 12, 2018 Shares in troubled outsourcing firm Interserve plummeted more than 10 per cent today to the lowest level in more than 30 years. The price dropped from 45.18p to a low of 39.03p today, as the construction and support services giant continued to struggle despite agreeing a rescue deal with lenders in March. The company's finances were [...]
Nothing but the truth: Inside Facebook’s UK fact-checking war room April 15, 2019 The war against fake news on social media has been raging since 2016, though it wasn’t until January this year that Facebook decided to take its fight to the British shores. “If this is a war room, I don’t know who the generalissimo would be,” jokes Will Moy, director of the fact-checking charity Full Fact [...]
Westminster council victorious as court rejects TfL appeal over blocked CS11 cycle superhighway February 7, 2019 Transport for London (TfL) will not be able to build its proposed CS11 cycle superhighway at Swiss Cottage after it lost an appeal against a decision by Westminster council to block its construction last year. The Court of Appeal yesterday upheld an earlier ruling that TfL could not proceed with the CS11 without considering traffic and [...]
Government hands out £350m loan to keep delayed Crossrail project going October 26, 2018 The Government has rushed to the aid of the delayed Crossrail project with a £350m short-term loan to keep work on track. Transport for London (TfL) announced the loan on Friday, which it said was needed to continue construction work on the delayed Elizabeth line. In July the rail minister Jo Johnson announced that the [...]
The £14.8bn Crossrail project faces “increasing cost and schedule pressures” ahead of Elizabeth Line opening from December 2018 January 24, 2018 London’s transport commissioner has said the £14.8bn Crossrail project is facing “increasing cost and schedule pressures” with deadlines looming for the new railway, which is planned to open in stages from December. Among board papers published today, a report from Transport for London’s commissioner Mike Brown said: Overall the Crossrail project, which is now 90 [...]
British builder Kier Group confident of meeting full-year expectations with results weighted towards second-half of financial year November 16, 2018 Kier Group has announced that it is confident of meeting its full-year expectations ahead of its AGM today, with the full-year results being weighted towards the second half of the financial year. The FTSE 250 listed company have said it will continue to focus on operational cash generation and reducing net debt as part of their Future Proofing Kier (FPK) [...]
Interserve shareholders jittery as firm homes in on debt-for-equity rescue deal February 4, 2019 Shareholders of debt-laden outsourcer Interserve were anxious this morning following reports it will announce the details of a long-awaited rescue deal this week. Interserve’s stock fell three per cent this morning after last night’s story that chief executive Debbie White was gearing up to finally reveal the refinancing terms with the firm’s lenders. Read more: [...]
Embankment traffic harming 15,000 east London businesses, study warns December 2, 2018 Heavy traffic on the Embankment is causing serious economic harm to east London businesses, a new study has warned. Research by transport economists Volterra Partners revealed the removal of a traffic lane on the A3211, which runs between Westminster Bridge and Tower Hill, has significantly increased journey times. Volterra partners said increased congestion has meant [...]