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Invensys bought out by Schneider Electric in £3.4bn deal
French buyers warn of UK job losses as part of plan to save £122m a year after purchase of British engineering firmEngineering firm Invensys has become the latest British company to fall to a foreign rival after agreeing to a £3.4bn takeover by France's Schneider Electric.London-based Invensys, which develops computer systems for refineries, chemical and nuclear plants, employs more than 1,100 people in the UK – around 6% of its workforce. If shareholders approve the deal, the new company will have a combined UK workforce of more than 4,600 and a global staff of 156,000.
Most voters are against plans to reprivatise East Coast line
FOUR in five voters are against or unsure about Government plans to reprivatise the East Coast Main Line which connects Edinburgh and London, a survey has found.
Thursday, 01 August 2013
BBC News
- Trains resume after latest theftsNormal rail services resume after more cable was stolen from the Aberdeen to Inverness railway line.
- Airport alert over plane 'problem'Sumburgh Airport in Shetland is put on full emergency footing when a problem develops on an incoming plane.
- Councils get airport group dividendGreater Manchester's 10 councils will share £48m after the Manchester Airports Group reveals its full year results.
- Councils 'make huge parking profits'Eight London councils are in the top 10 of those generating huge surpluses from car parking charges, according to the RAC Foundation.
- Move to extend fuel discount schemeA fuel discount that applies to the Scottish islands and the Isles of Scilly could be extended to remote and rural parts of the UK mainland.
- EADS to change its name to AirbusEADS, the parent company of Airbus, says it is to rename itself after its commercial plane-making subsidiary.
- New Siemens boss 'to return order'The new boss of the German engineering firm Siemens says his priority is to stabilise the company after its former chief executive was dumped this week.
- EADS to change its name to AirbusEADS, the parent company of Airbus, says it is to rename itself after its commercial plane-making subsidiary.
Financial Times
- ‘Challenging market’ weighs on DP WorldPort operator says lower volumes in Asia, Europe and the Middle East are mitigated by a stronger performance in the Americas and Australia
The Guardian
- Invensys bought out by Schneider Electric in £3.4bn dealFrench buyers warn of UK job losses as part of plan to save £122m a year after purchase of British engineering firmEngineering firm Invensys has become the latest British company to fall to a foreign rival after agreeing to a £3.4bn takeover by France's Schneider Electric.London-based Invensys, which develops computer systems for refineries, chemical and nuclear plants, employs more than 1,100 people in the UK – around 6% of its workforce. If shareholders approve the deal, the new company will have a combined UK workforce of more than 4,600 and a global staff of 156,000.
- Councils raking in large surpluses from parking charges: reportLondon dominates the top 10, with English councils collectively making £412m last year after capital chargesSome councils are racking up huge surpluses from parking charge, according to figures from the RAC Foundation.In 2011-12, English councils had a current account surplus of £565m from their on-street and off-street parking operations. This is a £54m increase on the £511m surplus in 2010-11, the foundation said.The figures showed that just 52 (14%) of the 359 councils reported a deficit on their parking operations in 2011-12.Even after capital charges – money councils put in to replace inf...
The Herald
- Most voters are against plans to reprivatise East Coast lineFOUR in five voters are against or unsure about Government plans to reprivatise the East Coast Main Line which connects Edinburgh and London, a survey has found.
- Threat to Scotland's last rail factory as money runs outTHE future of Scotland's last remaining heavy rail repair factory has been plunged into chaos after its owner was placed in administration, putting more than 100 Scottish jobs at risk unless a new buyer can be found.
- City council earns £11,000 a day from bus lane penalty finesFigures show that 174,448 penalty notices were issued to motorists caught driving in bus lanes in Glasgow between April 23, 2012, and July 4 this year – an average of 397 per day.
- Rural motorists in line for cheaper fuel as ministers seek to extend rebate schemeMotorists in remote areas could pay less for petrol and diesel under Government proposals to extend the island fuel rebate scheme, Chief Secretary to the Treasury Danny Alexander said today.
The Scotsman
- Plane lands safely after Shetland emergencyA plane landed safely at an island airport after declaring a full emergency, which sparked firefighters to scramble.
The Telegraph
- Drivers to be banned from wearing Google GlassDrivers will be banned from getting behind the wheel wearing Google Glass, the smart spectacles which act as a computer.
- Councils continue to rake in parking cash as traffic fallsCouncils are on course to rake in £635 million profit from motorists in parking charges and fines this year according to new Government figures, despite traffic falling.
Mail Online
- Ryanair chief vows to price out passengers with hold baggage (and now he's raising fees by £20 per bag just in time for summer)Michael O'Leary (pictured) who admits to himself paying 'a fortune' in excess baggage, also said it was likely that airlines would start charging for hand luggage.
- Fuel duty may be cut in rural areas because costs of transporting it are higher than on the mainlandMinisters are considering extending this island fuel rebate that gives a discount to the Scilly Isles and Scottish island to other areas including parts of Devon, Cumbria and Wales.
The Mirror
- East Coast Mainline: Only a fifth of voters back Coalition plans to sell off rail franchise Even among Tory voters far more are against taking the East Coast out of public ownership than are in favour of it
Network Rail
- Don’t let a tipple turn into a trip, warns new station safety campaignA new campaign encouraging people to take extra care on their way home after a night out has been launched today after figures revealed more than 1,600 people have been hurt in the last year through slips or trips at Britain’s biggest railway stations.
Belfast Telegraph
- Aer Lingus upbeat after subdued first quarterAER Lingus has reported growth in revenues and passenger numbers and a higher operating loss for the first half of the year.Related StoriesRivals' campaigns putting squeeze on MoneysupermarketBeef, lamb and dairy sales help Northern Ireland's food industry reach profits of £4.15bnNorthern Ireland security firms try to steal march on rivalsMexican wave serves up 15 jobs at east Belfast restaurantFull speed ahead for Titanic Belfast and its bankers
Bolton News
- Bolton reaps financial reward from Manchester Airport as it celebrates 75th anniversary MANCHESTER Airport is celebrating its 75th anniversary this year — and that means financial good news is still flying into Bolton.
Bradford Telegraph & Argus
- Dual carriageway plans for Hard Ings Road in Keighley welcomed Plans to transform a traffic-choked Keighley main road into a dual carriageway have been welcomed in the town.
Derby Telegraph
- Derby Telegraph commented Revolutionary jet takes off from East Midlands AirportA REVOLUTIONARY aircraft fitted with features that can reduce jet lag has started long-haul flights out of East Midlands Airport.Yesterday, the Boeing 787 Dreamliner, operated by Thomson Airways, jetted out of the Castle Donington airport at 11.40am, destined for Sanford Airport, in Orlando, Florida.On board were 291 passengers who became the first people to fly out of East Midlands on a Dreamliner.Thomson is the first UK airline to start operating the 787 and East Midlands is one of only four...
London Evening Standard
- Rail firm loses RMT injunction bidAn application by East Midlands Trains for an injunction against the RMT over industrial action has been rejected in the High Court, the union said.
- Good Lord - GOD is backing the third runwayFormer Cabinet Secretary Gus O’Donnell is under fire for his decision to take up a new job as chairman of Frontier Economics, a consutlancy working on Heathrow’s third runway bid, and the suggestiwon that he’s cashing in on his civil service connections.
- Upside down drunk gets stuck on the escalator: video shows peril of being tipsy on the stationA man disappearing under a slow-moving train, another going up an escalator upside down. CCTV footage of these accidents has been released by Network Rail as a warning against getting drunk while taking the train.
- Fuel discount bid for remote areasMotorists in remote areas could pay less for petrol and diesel under Government proposals to extend the island fuel rebate scheme, Chief Secretary to the Treasury Danny Alexander said.
Manchester Evening News
- Sir Howard Bernstein named deputy chair of the HS2 Growth Taskforce The chief executive of Manchester City Council, Sir Howard Bernstein, has been appointed to a national taskforce which aims to maximise the economic benefits from high speed rail.
Northern Echo
- Passengers warned of Metro disruption A MAJOR operation to promote temporary travel arrangements for Metro passengers is underway ahead of the longest line closure for more than 30 years.
The Press and Journal (Aberdeen)
- Truckers want 50mph limitTruckers are calling for an increase to the speed limit on the A9 Inverness-Perth road following the decision to install average speed cameras.
Yorkshire Post
- Councillor to stress HS2 benefitsONE of Yorkshires most senior politicians has been appointed to a new Government taskforce set up to ensure that the UK derives the maximum benefit from the new £50bn high-speed rail link between London and the North.
Blackpool Gazette
- London rail link appeal is rejectedBlackpool will not get a rail link to London, the Office of Rail Regulation has announced.
Peterborough Telegraph
- Cycling security session to help beat bike thievesFenland cyclists can help beat criminals by attending a police security session on Wednesday, 7 August.
Sleaford Standard
- Action on both sides over Sleaford link road project across Boston Road Recreation GroundPeople are being invited sign a petition urging Sleaford Town Council to give up land on Boston Road Recreation Ground to make way for a link road.
Global Rail News
- HS2 taskforce namedThe UK government has announced the creation of the HS2 Growth Taskforce which it hopes will make the most of the economic benefits created by high-speed rail. The team, which[...]
- Thalys traffic up 38% between Brussels and AmsterdamPassenger numbers on high-speed Thalys services between Brussels and Amsterdam rose by 38.4 per cent in the first half of the year. The increase has been attributed to the withdrawal[...]
- Video sends stark warning not to mix alcohol with railway stationsNetwork Rail has released a video showing what a dangerous place railway stations can be for intoxicated passengers. In one scene, a man can be seen falling between the platform[...]
- Driver was on the phone as train derailedThe driver of a high-speed train in Spain that derailed, killing 79 passengers, was on the phone at the time of the accident, court documents have said. Information released by[...]
- Gallery: Tottenham Court Road upgrade 60% completeNew images from Crossrail show the progress of the £1 billion project to improve Tottenham Court Road station – now 60 per cent complete. Work on new passageways, a new[...]
- Cities Sprinter locomotives undergoing test phaseAmtraks new Cities Sprinter locomotives are being put through their paces at a test facility in Colorado. The first two locomotives of a 70-vehicle order are undergoing a series of[...]
Railnews
- 'No-dividend' Welsh franchise under consideration A 'not for dividend' rail passenger franchise for Wales is being considered by a committee of the Welsh Assembly, as part of a consultation which will run until September. The Welsh Government has suggested that the present Arriva franchise, which expires at the end of 2018, could be replaced by a 'no dividend' contract, while an independent report has claimed that taxpayers would pay no more than they do now.
- Invensys set to be bought in £3.4bn deal The former owners of Westinghouse Signalling in Chippenham are to be bought by a French firm for £3.4 billion, so long as shareholders vote in favour of the deal. Invensys is set to become part of Schneider Electric, but there are warnings that some jobs could be lost as the merger proceeds, because Schneider is planning to save some £122 million a year.
- Union wins court case against train operator A High Court action brought by East Midlands Trains against the RMT union has been rejected by the judge, but peace talks between the two sides are due to restart this week. EMT had claimed that the union was encouraging its members to go beyond the terms of a work to rule and restrictions on overtime in a dispute over the effects of the Nottingham resignalling blockade, but the RMT had alleged that the company was trying to 'impose new working conditions and to unilaterally rip up procedures and agreements by the company under the pretext of the Nottingham blockade'.
- ORR refuses Virgin bid for Blackpool, Shrewsbury The Office of Rail Regulation has rejected Virgin Trains' bid to run services to Blackpool North and Shrewsbury, at least for the time being. The ORR said there is not enough spare capacity at the moment to allow more trains to be operated on the West Coast Main Line. Virgin said it was 'extremely disappointed', while one union leader said the shortage of paths proved the need for HS2.
- Railcare in crisis after takeover talks break down Rolling stock maintenance firm Railcare has been placed in administration, following the apparent breakdown of takeover talks with Knorr Bremse. It had been reported that the deal was almost complete, but it appears that failure to reach final agreement over the past few days has left the firm in crisis. The RMT is claiming that the Government has rejected appeals for a £1 million bridging loan to keep the company in business.
Aviation Industry
- Aer Lingus blames higher losses on weak UK routesAirline continues to struggle on its services across the Irish Sea
- Ryanair vows to keep raising bag chargesAirline puts up fees for hold luggage by £20 for summer season
Other News Sources
- Four big names battle for £130m Heathrow job Laing ORourke, Mace, Balfour Beatty and Costain are vying for a £130m tunnel refurbishment job at Heathrow, Building can reveal.
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