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UK ready to co-fund GM Europe spin-off

Britain is ready to provide loans or loan guarantees to finance the spin-off of General Motors' European Opel/Vauxhall arm, Peter Mandelson, UK business secretary, said

Train firms stand to receive £400m

Under 'cap and collar' arrangements in their contracts, operators of all major rail franchises could qualify for state aidThe taxpayer could have to subsidise the rail network to the tune of a further £400m over the next two years, as a swath of expensive franchises head for an increase in government support that might prevent further defaults.

Gordon Brown insists train headquarters will stay in York

Gordon Brown has personally pledged York rail jobs were safe under nationalisation “ and heard pleas for the city to remain the long-term headquarters of the East Coast Main Line.

Commission Rejects Bulk of Air Quality Derogations

Decisions given on PM10 time extension requests for nine EU countries but no UK decisions expected until later in the year.

Government must prioritise rail over road, says Liberal Democrats

The Liberal Democrats have responded to news of a potentail £29bn budget shortfall in British transport projects by urging government to prioritise rail spending over roads.

Saturday, 04 July 2009

BBC News

Financial Times

  • China joins carbon tax protestBeijing has joined a growing clamour of complaint about US plans for a carbon tax on imports from countries without their own emission caps, warning it could set off a global trade war
  • UK ready to co-fund GM Europe spin-offBritain is ready to provide loans or loan guarantees to finance the spin-off of General Motors' European Opel/Vauxhall arm, Peter Mandelson, UK business secretary, said
  • Indian Railways plans leap into the cyber ageThe state-owned rail network has presented a budget that would expand e-ticketing, introduce automated vending machines and raise big terminuses to international standards

The Guardian

  • Train firms stand to receive £400mUnder 'cap and collar' arrangements in their contracts, operators of all major rail franchises could qualify for state aidThe taxpayer could have to subsidise the rail network to the tune of a further £400m over the next two years, as a swath of expensive franchises head for an increase in government support that might prevent further defaults.
  • Activists who stopped train convictedClimate change protesters face community service after judge rejects justification defenceClimate change protesters who ambushed and hijacked a power station coal train failed to convince a jury today that their actions were justified by the

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ATOC

  • Use Twitter for the latest train service updatesRail passengers can now receive up to the minute service disruption information that may affect their journey by simply following National Rail Enquiries from their Twitter account. They can even register for updates to be sent to their mobile phones.

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Aviation Industry

  • Continental to sell $390 million in notes to raise CashContinental Airlines Inc. said Thursday it would sell $390 million in notes to finance 17 aircraft that it owns or plans to acquire through September.
  • BA reports new slump in premium travelBA today (July 3) reported a 14.9% drop in premium traffic for June compared with the same month in 2008. While the slump in passengers travelling business or first class is continuing, the rate of the fall is slowing. April showed a 17.7% decline and May a 17.2% drop. In February the fall was 20.2%. The UK carrier said overall passenger numbers for June were 3.8% below the figure for 2008.

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