HS2: New controllers needed on the nation’s biggest train set May 17, 2020 Only last month, Boris Johnson gave HS2 the official green light. But, despite HS2 Ltd being headed up by at least 47 staff paid more than the PM, the project is already coming off the rails. Today’s report from the Public Accounts Committee (PAC) highlights that HS2 has gone “badly off course” and costs are [...]
Boris Johnson to ‘build, build, build’ UK back from coronavirus slump June 30, 2020 Boris Johnson will today pledge £5bn in fast-tracked infrastructure investment as he promises to “build, build, build” the UK’s economy out of the coronavirus crisis. Drawing inspiration from US president Franklin Delano Roosevelt’s “new deal” after the great depression of the 1930s, the Prime Minister will seek to create jobs and drive investment through a [...]
Transport department refuses to release Garden Bridge report March 16, 2020 The Department for Transport (DfT) has said it will not release a report into the failed £48m Garden Bridge so it can protect a trust that no longer operates. The Garden Bridge Trust was set up to manage the disastrous project, which was championed by Boris Johnson when he was mayor of London and former [...]
Coronavirus: EDF to furlough Hinkley Point workers after reducing site numbers March 29, 2020 Hundreds of workers at EDF’s Hinkley Point C nuclear plant are being furloughed after the firm decided to cut the number of workers on site by more than half. In an attempt to cut costs, the Telegraph reported that many of the site’s workers are being moved onto the government’s employee retention scheme, which guarantees [...]
Ministry of Defence nuclear infrastructure projects set for delays of up to six years January 10, 2020 Three infrastructure projects which are together critical to the UK’s nuclear deterrent are set for delays of up to six years due to the Ministry of Defence’s (MoD) “poor management.” According to a new report from the National Audit Office (NAO), the projects will be delivered between 1.7 and 6.3 years late, at an additional [...]
Steadying the ship? Struggling contractor Kier Group makes ‘good progress’ on cutting costs January 16, 2020 Kier Group shares spiked this morning on the news that the struggling contractor said it was making “good progress” on cutting costs. The London-listed construction group’s stock rocketed 7.5 per cent in value in early trading, before receding to about three per cent up on yesterday’s closing price. Kier has suffered from a mounting debt [...]
Weekly outlook, 9-13 November: Investors shift their focus back to the UK economy November 9, 2020 Investors were kept busy with the drama across the Atlantic last week, but they’ll soon want to focus back on the UK in what will be a busy week of results and economic updates. After a nail-biting election, markets will likely be considering the implication of a Biden presidency. But with GDP and unemployment figures [...]
FTSE 100 reshuffle: ITV set to tumble from the big league September 1, 2020 The FTSE 100 is set for another dramatic reshuffle as the blue-chip index adapts to life during the coronavirus pandemic, with telly stalwart ITV almost certain to drop from the list and bargain retailer B&M likely to rise. FTSE Russell, which runs the index, will decide who’s up and who’s down according to prices at [...]
GTO Engineering 250 GT SWB Revival review: tribute to a classic Ferrari : CityAM August 25, 2021 I used to pass a Ferrari 250 GT SWB on the way to work. Or so it seemed. The car looked kosher from a distance, but closer inspection revealed thumb-sized panel gaps, a plasticky interior and a telling lack of tailpipes (one instead of the usual four). In hindsight, the fact that it was street-parked [...]
Hammersmith Bridge to close for Boat Race spectators amidst safety fears March 3, 2020 The Hammersmith Bridge will be closed to spectators for the annual Boat Race, turning away thousands from the popular vantage point. The bridge has been closed to cars last April due to safety concerns, with the London Borough of Hammersmith and Fulham estimating repairs will cost £120m. The council said today it had been asked [...]