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Rosy UK trading updates drive shares higher

FirstGroup, the UK bus and rail company, leads a pack of British companies that saw a jump in their share value after reporting better numbers on the back of strong performance and successful restructuring moves

Wednesday, 01 October 2008

BBC News

  • Rail station opening is delayedA new railway station near East Midlands Airport will not be opening on time, Network Rail has confirmed.
  • Cross-border route action pursuedA new pressure group has been set up aimed at securing major improvements on the A1 trunk road in East Lothian, the Borders and north Northumberland.
  • Free school transport is extendedNew powers extending free transport to school children and promoting access to Welsh-medium schools have been passed by assembly members.

Financial Times

  • Rosy UK trading updates drive shares higherFirstGroup, the UK bus and rail company, leads a pack of British companies that saw a jump in their share value after reporting better numbers on the back of strong performance and successful restructuring moves
  • AIG sells stake in London City airportThe US insurance group has sold its 50% stake in London City airport as it embarks on a disposal programme to repay the $85bn US government rescue loan
  • Air traffic growth at five-year lowIata, the global airline trade association, said the three-month decline in air freight was a clear indication that global trade was slowing down
  • Argentina faces court battle over airlineArgentina's government could face a bitter legal battle over the renationalisation of Aerolineas Argentinas, the flag carrier
  • Ports at risk, say operatorsMerseyside's maritime revival could be sunk by swingeing business rate rises, say port companies as they brace themselves for bills expected to be triple last year's levels
  • Chicago Midway in $2.5bn privatisation dealChicago Midway became the first big US airline hub to be put up for privatisation in a $2.5bn deal with a consortium including Canada's Vancouver airport
  • Consortium pulls out of $12.8bn turnpike dealThe consortium behind the world's biggest toll road privatisation pulled out of the deal, delivering a blow to efforts to bring further private-sector money into the US's crumbling road system

The Guardian

  • BA slams Tory plans to scrap third runwayStunned airlines and British businesses rounded on the Tory party yesterday after David Cameron pledged to scrap a third runway at Heathrow in favour of a north-south high-speed rail link.
  • Mayor hits out at government over £1.4bn gap on tubeBoris Johnson is embroiled in a £1.4bn funding row with the government that could leave millions of commuters facing increased delays and overcrowded stations on London's underground network.
  • Stopping the slow trainThe Conservative party sweetened the gruel of its bitter economic message this week with a promise Labour should have made long ago - to build a high-speed rail network north from London. The party confirmed a second sensible decision too - to scrap plans for a third runway at Heathrow.

The Herald

The Telegraph

Times Online

  • AIG flies into loss on City Airport stake AIG, the stricken American insurer, looks set to have suffered a heavy investment loss after it offloaded its stake in London's City Airport to its joint venture partner for an estimated £250 million — two-thirds of the price it paid.

Daily Record

Mail Online

ATOC

Transport Briefing

Birmingham Post

Edinburgh Evening News

Journal Live

  • No more 'blackmail' over transport cashTHE Conservatives yesterday pledged to end Whitehall’s “blackmail” of councils to introduce congestion charging in return for vital transport funding.

London Evening Standard

Manchester Evening News

  • Fast track to successA RAIL supremo whose company's passenger numbers have nearly doubled since 2004 has won a national customer service award.

The Press and Journal (Aberdeen)

The York Press

Wales Online

Yorkshire Evening Post

C.N.N.

New Scientist

Chartered Institute of Logistics and Transport

  • Lib Dems call for tighter Channel Tunnel safetyThe Liberal Democrats have issued a call for an immediate safety review and tightening of safety restrictions in the Channel Tunnel following the recent fire.According to the party's transport spokesman Norman Baker, the government has been "complacent" about safety in the tunnel and a review of safety procedures is needed in conjunction with restrictions on what can be sent through the Channel Tunnel."We cannot afford any more protracted closures of the tunnel," he stated. "Urgent action must be taken to significantly reduce the risk of any further...

Railnews

Aviation Industry

Other News Sources

  • MP's transport scheme fearsThe MP for Inverness, Nairn, Badenoch and Strathspey has called for clarity over two Highland transport projects.
  • East Anglia: National Expressating on a train! You must be joking. Times have changed and this really is turning into a moveable feast. DEREK JAMES reports from Norwich, Diss, Stowmarket, Ipswich, Colchester, Chelmsford and Liverpool Street. Not forgetting Manningtree and Shenfield.
  • City business boosted by rail lineMore than 700,000 passenger journeys are made between Norwich and Cambridge each year, creating benefits for businesses in the city.
  • Rail giant signals plans for new lineANOTHER rail line could be built across northern Lincolnshire to cope with ever-increasing traffic.
  • Reading congestion charge proposedTransport chiefs in Reading are hoping to reduce the amount of traffic with new congestion measures.
  • Alitalia poised for relaunch following dealAlitalia is set to be relaunched within a month following union agreement to a rescue deal that will see the injection of Euro2 billion of government cash, a slashing of its network and loss of one-in-three jobs.
  • Planes fly in circles as air traffic controller sleepsTwo planes were forced to fly in circles over the Greek island of Lesbos awaiting landing clearance for about 40 minutes as the air traffic controller was fast asleep, the Daily Telegraph reported Tuesday.
  • Backdated rates bills could bankrupt smaller UK portsThe UK ports industry is facing a crisis after tax authorities sent out backdated rates bills totalling tens of millions of pounds. Many smaller operators are facing the prospect of bankruptcy if they are unable to pay.
  • Tories back down over TIFAny Transport Innovation Fund (TIF) contracts signed prior to the election of a Conservative government would be respected, not dismantled, it was revealed this week.
  • Eurostar set to lose top marketerGreg Nugent, Eurostar head of marketing UK, is stepping down after five years in the role follwong a restructure.
  • Virgin Atlantic renews James Bond partnershipVirgin Atlantic is launching a campaign on the back of the airline™s involvement with the forthcoming James Bond film Quantum of Solace.
  • Human scarecrow chases off monkeys The authorities at an Indian railway station have taken drastic action to scare off monkeys.
  • Port workers support organising in global network terminalsUnions representing workers at the world’s largest port terminal operators took firm steps forward recently as they planned future strategies and vowed to increase workers’ organisation along major transport chains.
  • New business 'on the rise' for WincantonLogistics giant Wincanton is confident about winning new business despite the current tough trading conditions.
  • Jail for former BA exec charged in price-fixing probeBritish Airways (BA) executive Keith Packer has become the first foreign national - and third individual - charged as part of the US Department of Justice's...
  • EU-India Summit signs civil aviation agreementAt today's EU-India Summit in Marseille, a Horizontal Aviation Agreement was signed which will restore legal certainty to the bilateral air services agreements between India and EU Member States and reinforce EU-India aviation relations.

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