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Transport secretary defends government's Network Rail record

Patrick McLoughlin tells transport select committee he did not know extent of crisis at rail operator until after the general election The government only realised the need to shelve vital rail projects in mid-June, the transport secretary told MPs as he responded to claims ministers were aware of the depth of the Network Rail crisis before the election. Patrick McLoughlin told the transport select committee that the information he received on 15 June prompted him to put on hold parts of the operator's Ł38.5bn five-year plan 10 days later.

Prestwick Airport losses double since bailout

LOSSES have almost doubled at troubled Prestwick Airport while the size of the taxpayer bailout handed to it by Scottish ministers has rocketed and could rise further next year.

Tuesday, 21 July 2015

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  • Lockheed Martin strikes $9bn deal to buy helicopter maker SikorskySwoop for Black Hawk manufacturer opens new foreign markets for Lockheed, the Pentagon’s largest arms supplier Lockheed Martin is to buy Sikorsky, maker of the Black Hawk helicopter, from rival United Technologies Corporation (UTC) for $9bn (£5.8bn), consolidating its position as the Pentagon’s largest supplier.The deal opens key foreign markets for arms manufacturer Lockheed, which dwarfs its nearest competitors, the defence business of Boeing, and Northrop Grumman, maker of the B-2 stealth bomber. Continue reading...

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