Balfour Beatty reinstates dividend as turnaround plan bears fruit and cuts losses by 86 per cent August 17, 2016 Balfour Beatty has hugely cut its losses under new chief executive Leo Quinn's turnaround plan, it said today. The company's share price jumped over five per cent in early morning trade on the news. The figures Balfour Beatty reported underlying revenue marginally down to £4.02bn, from £4.09bn in the first half of the year. Total revenue [...]
RMT vote in favour of station staff strikes on Govia network following planned ticket office closure August 16, 2016 The Rail, Maritime and Transport Union (RMT) announced 70 per cent of members had voted in favour of further strike action on the Govia Thameslink (GTR) network. The total number of people balloted was 407 of which 120 voted against the action with a further six spoilt votes – a sizeable increase in the "no" vote compared to recent votes on industrial action. [...]
Jeremy Corbyn unveils renationalistation transformation plans for Britain’s transport system August 16, 2016 Labour leader Jeremy Corbyn has laid out his plans to rebuild and transform the UK's transport system through renationalisation as the fight for the Labour crown continues. Corbyn set out how he would "rebuild and transform Britain's transport system", extending public ownership from rail to bus networks. He said that enough money from public ownership [...]
Indonesian airlines cleared for take off in America after nine-year ban August 16, 2016 Indonesian airlines will be able to take off in America following a nine-year ban after having been cleared by regulators. A safety review by the US Federal Aviation Administration (FAA) said Indonesia had been upgraded to a top-tier safety rating – Category 1 – after nearly 10 years. Airlines must hold a Category 1 rating to be [...]
US Presidential Election 2016: Donald Trump wants “extreme vetting” for immigrants August 16, 2016 There is a necessity to conduct "extreme vetting" of immigrants into the US to fight against radical Islam, Donald Trump has said. The Republican presidential candidate said new arrivals should be tested to ascertain if they share Western values such as religious tolerance and the acceptance of LGBT rights. The suggestion comes months after Trump first [...]
Wood Group posts huge slide in revenue but sees “early indications of modest recovery” August 16, 2016 Weak oil prices have hit Wood Group's first half earnings – but that hasn't stopped its chief exec from making positive noises. The figures Wood Group posted a 63.2 per cent drop in profits to $44.6m (£34.5m) in the first half of the year. The company reported revenue that dropped by 16.6 per cent to $2.6bn [...]
Antofagasta’s revenue and profit fall on copper despite cutting costs August 16, 2016 Antofagasta is doing the best it can with falling copper prices by cutting costs, but profit and revenue have taken a hit nonetheless. The figures Antofagasta reported revenue 18.5 per cent lower at $1.45bn (£1.12bn) for the first half. The company, however, reported that earnings before interest, taxation, depreciation and amortisation (Ebitda) had risen by 2.3 [...]
Jeremy Corbyn wins 84 per cent of Constituency Labour Party nominations to Owen Smith’s 16 per cent August 15, 2016 Labour leader Jeremy Corbyn has won an overwhelming majority of Constituency Labour Party (CLP) nominations ahead of the election against challenger Owen Smith. Corbyn won the nominations of 285 CLPs, with Owen Smith claiming just 53. Although the nominations have no direct consequence on how the election will pan out, they provide an indication of the [...]
Gatwick Airport establishes Growth Board ahead of government’s long-awaited aviation decision August 15, 2016 Gatwick Airport has established a Growth Board (GGB) as it seeks to bolster arguments for a second runway ahead of the government's long-awaited decision on aviation capacity in the south east. Former minister for the Olympics and for London Baroness Tessa Jowell and former minister for transport Steve Norris will co-chair the group, examining the wider economic and [...]
MPs to question American and European corporates to bolster defences against foreign takeovers August 15, 2016 MPs will quiz bosses of American and European corporates on how the UK can bolster its defence against foreign takeovers. The business select committee will launch an inquiry into Prime Minister Theresa May's industrial strategy and what it could end up meaning for business. The committee is expected to use the summer to draw up the [...]
