Costain shares plunge after Welsh arbitration leaves it £20m out of pocket December 12, 2019 Costain shares plummeted 16 per cent today after it warned profit will be about £20m lower than expected after an arbitration case over a Welsh motorway project. The announcement follows a ruling that found the firm shared responsibility for design information on the A465 road project with the Welsh government, a partial reversal of a [...]
HS2 ‘fundamental’ to hitting UK emissions target, says lobby group November 11, 2019 The HS2 rail project is “fundamental” to the UK hitting its net zero emissions target by 2050, according to a report commissioned by rail industry bosses. HS2, which is planned to link London with the north of England and Scotland via trains travelling at more than 200mph, will mean fewer people take cars and short-haul [...]
City Moves for 26 September – Who’s switching jobs at Aldermore, TORI Global and FDM Group? September 26, 2019 Today’s City Moves includes Aldermore, TORI Global and FDM Group. Aldermore Claire Cordell has been appointed chief financial officer (CFO) and an executive director of specialist bank Aldermore. Claire joined Aldermore in 2014 having oreviously held senior finance roles at RSA Insurance and Credit Suisse, and currently works as the company’s director of finance. Claire [...]
FDM Group taps Tech UK chair Jacqueline de Rojas to join board September 25, 2019 Recruitment firm FDM Group today said it has appointed tech titan Jacqueline de Rojas as a non-executive director. Read more: London overtakes New York to steal global fintech investment crown De Rojas, who is president of trade associations Tech UK and Digital Leaders, will join the board of the FTSE 250 firm from the beginning [...]
British Steel division sold to French engineering firm August 29, 2019 British Steel subsidiary TSP Projects has been sold to French engineering firm Systra in a deal that will save hundreds of jobs. The deal, which will see Systra take on the firm’s £70m-plus pensions liabilities, is expected to be announced by Systra and the Official Receiver tomorrow, according to Sky News. Read more: British Steel [...]
Repair job slashes Costain profits despite new work flooding in August 21, 2019 Orders have flooded in during the first half at infrastructure group Costain, despite a historic Oxfordshire project came back to bite it more than a decade on from its completion. The London listed construction firm was forced to pay £9.7m to repair the roof of a high-tech science centre, the National Synchrotron facility, which it [...]
HS2 locks horns with Bechtel in bid to break contract stalemate July 16, 2019 HS2 has asked the High Court to allow it to push on with the construction of one its London stations despite an ongoing legal challenge from engineering giant Bechtel. HS2 Limited, which is overseeing the proposed £56bn railway linking London to the north, has applied to lift the “automatic suspension” that is preventing it from [...]
Interserve taps turnaround veteran Alan Lovell as new chairman July 11, 2019 Interserve is set to tap industrial turnaround specialist Alan Lovell as its new chairman as the beleaguered outsourcer looks to reverse its fortunes. The appointment of Lovell, who was brought into Carillion just weeks before its collapse and has held a string of other high-profile roles over the last thirty years, will be unveiled tomorrow, [...]
UK readies for no-deal Brexit with fresh freight plans June 29, 2019 The government is asking transport firms to make an offer to provide extra freight capacity that would be used in the event of a no-deal Brexit at the end of October. More than £85m was wasted in the lead up to the initial date the UK was due to leave the EU following a rushed [...]
Costain shares sink 40 per cent on profit warning June 28, 2019 Costain’s share price plunged this morning as it warned investors that contract delays would hit revenue and profit for this financial year. Later start dates for projects like the M6 smart motorway and the southern section of High-Speed Rail 2 are set to push revenue “lower than anticipated”, Costain said in a trading update. Read [...]