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Network Rail to slash directors' bonuses from 160% to 20% of salary

Reforms could still bring bonuses of up to £135,000 a year but may help defuse rows over payouts in state-funded company

Bombardier on track to reach 1,000-carriage milestone for Southern Trains

DERBY train-maker Bombardier is on course to hit a production landmark by making its 1,000th carriage for Southern Railway.

Business leaders tell politicians: end the row over rail upgrade cost

Swansea Business Club is deeply worried any delay in rail electrification would significantly damage the economy of South West Wales

Heathrow steps up expansion campaign

Heathrow is to step up its campaign for expansion by telling the Airports Commission it is the only option that can connect every part of the UK to long-haul growth markets.

Saturday, 03 May 2014

BBC News

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  • Network Rail cuts executive bonusesSenior directors at railway operator will only be entitled to deferred annual bonuses worth up to 20% of salary – much less than at present

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  • Question time for Leeds trolleybus officialsopponents of Leeds’s trolleybus plans were today set to continue grilling local transport and council officials at the public inquiry that will decide the £250m project’s fate.

Yorkshire Post

Doncaster Free Press

The Economist

  • High-speed rail: Another one for the in-trayON APRIL 28th high-speed rail boosters breathed a sigh of relief. The second reading of a bill establishing HS2, a proposed railway between London, Birmingham and Manchester, cleared the House of Commons by 452 votes to 41. But they may yet find themselves sighing for different reasons. Despite its easy passage this week, the bill will not become an act of Parliament before the 2015 general election. That poses several problems for the next government—particularly if it is led by the Labour Party.Although George Osborne, the chancellor of the exchequer, is often seen in a high-visibility jacke...

Global Rail News

  • Class 700 undergoes climatic testingThe first new Class 700 Thameslink Desiro train has been put through a series of extreme weather tests at the Rail Tec Arsenal climate chamber in Vienna. The trials look at[...]
  • Opening date set for Edinburgh TramEdinburgh’s long-awaited tram network will open to passengers on May 31, the city council has announced. The ’go-live’ date, which is more than three years later than the original planned[...]
  • Hong Kong-Guangzhou HSL pushed back to 2017A high-speed railway linking Guangzhou, Shenzhen and Hong Kong will now be open in 2017, delaying the project by another year. In April, MTR announced that tunnelling works had been put on[...]
  • DB Schenker Rail Polska appoints CEODB Schenker’s Polish arm has appointed Marek Staszek as the company’s new chief executive. Staszek will take up the position from July 1, leaving his current role as chief financial officer[...]

Railnews

  • Network Rail 'mega-bonuses' are scrapped Network Rail directors will no longer be able to scoop up huge bonuses, if a newly proposed scheme is confirmed. The awards of many hundreds of thousands of pounds to senior managers who are already receiving six-figure salaries has often been bitterly criticised by politicians and unions. Network Rail said the scheme would see bonuses 'significantly reduced' from the current total 'bonus opportunity' of 160 per cent of salary each year to a maximum of 20 per cent. The change of heart has come only a few months before the national rail infrastructure manager moves wholly into the public secto...

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