Tube staff net Olympics bonus offer of £850 March 8, 2012 LONDON Underground has come a step closer to preventing worker walk-outs during the Olympics by offering staff a bonus of £850 each. Transport for London has raised its offer for around 18,000 LU staff following a dispute with union RMT. Workers would receive a £350 flat-rate bonus, plus an extra £20 per shift and a [...]
Rio Tinto aims for driverless trains growth February 20, 2012 MINER Rio Tinto yesterday unveiled a $518m (£327m) plan to pioneer the use of driverless trains in Australia in a bid to ramp up its production. The company, which already has driverless trucks, plans to run fully automated trains across its 1,500 km (930 mile) iron-ore rail network in north west Australia from 2014, to [...]
Eurotunnel eyes up ships after SeaFrance sinks January 9, 2012 CROSS-CHANNEL ferry operator SeaFrance sank into official liquidation yesterday after France’s Tribunal de Commerce ruled a £165m bailout by the French government illegal. Eurotunnel told the French press yesterday that it could mount a surprise bid to buy up SeaFrance’s fleet in the wake of the collapse, only to draw criticism from a rival ferry [...]
RAPID RESPONSES January 15, 2012 Disagree with Nick I very much agree with Allister Heath’s comments on Friday [Clegg’s latest nonsense] about Nick Clegg’s initiative regarding job applications. As you say, the key is improving education, and not coming up with idiotic proposals such as this. I come from a pretty humble background, and had a solid, redbrick grammar school [...]
Train stations to house offices December 12, 2011 Workers struggling to get to the office during the Olympics will be able to work from train stations through a new venture by Network Rail. The £40m move, made in conjunction with The Office Group, will see flexible office space spring up at five London stations. The first drop-in hub, which should be ready by [...]
No recessions for 80 years: The fanciful world of High Speed Rail 2’s business case January 9, 2012 AFTER the well-flagged decision this afternoon to press ahead with the first stage of the High Speed 2 rail project (HS2), the City and business will be pressed to “contribute” to the strong business case. An aspect that MPs are singularly ill-equipped to consider, but that the City will focus on, is the way the [...]
NEWS IN BRIEF January 15, 2012 CREDIT CARD SPENDING DOWN According to analysis of customer spending data carried out by Santander Credit Cards, the average credit card spend has fallen four per cent over the past 12 months. The data reveals that while the total number of transactions has increased by one per cent over that time period, the value of [...]
NEWS IN BRIEF January 15, 2012 CREDIT CARD SPENDING DOWN According to analysis of customer spending data carried out by Santander Credit Cards, the average credit card spend has fallen four per cent over the past 12 months. The data reveals that while the total number of transactions has increased by one per cent over that time period, the value of [...]
Politicians are to blame if we have crony capitalists January 18, 2012 CAPITALISM has a problem. Increasingly it is viewed as a deeply unfair system favouring a small, privileged elite at the expense of everyone else. Our politicians have been quick to join the criticism. Last week David Cameron mooted granting extra powers to shareholders to restrain executive pay. Today he will give a speech on how [...]
WHAT THE OTHER PAPERS SAY THIS MORNING February 7, 2012 FINANCIAL TIMES BOMBARDIER JOBS BELIEVED SAFE Workers at the UK’s last train maker are expected to hear this week that their jobs are safe, ending months of uncertainty about the future of the factory in Derby. Its owner, Bombardier, put the future of the site under review in the middle of last year, after the [...]