8th November 2013
- Shortlisted ScotRail bidders announced
- High Speed 2 backers defend budget
- But critics say costs are ‘made up’
Main stories this week
Abellio, Arriva, FirstGroup, MTR and National Express have all been shortlisted to run the next ScotRail franchise starting in 2015. [BBC News]
KPMG have defended their report backing High Speed 2 in an appearance before the Treasury Select Committee [Financial Times]
- It comes as leading academics told the committee the figures to justify the budget were “essentially made up” [Daily Telegraph]
- HS2 chairman-to-be David Higgins has said costs could fall by at least 10 per cent if the new head of the project delivers on fresh cost-cutting targets. [Financial Times]
- Ministers have asked officials to examine a Scottish extension [Daily Mail]
- Construction firms in the West Midlands have said it is vital they get their share of work on the project. [BBC News]
New services
Virgin Trains has submitted a renewed bid to run direct rail services between Shropshire and London. [BBC News]
The first rails have been laid on a £127m project that will see trams return to Birmingham city centre. [BBC News]
Chancellor of the Exchequer George Osborne has unveiled £550million upgrade of Greater Anglia services announced this week. [East Anglia Daily Times]
A new rail line through Manchester city centre is set to unlock the development of a string of new office blocks. [Manchester Evening News]
Other news
Network Rail should close 500 of the most dangerous level crossings over the next five years under a £109 million closure programme announced by the rail regulator. [The Times]
Labour and SNP MSPs clashed in a heated debate in the Scottish Parliament over failed Glasgow rail link, four years after the project was cancelled. [Evening Times]
First Capital Connect‘s 23.02 from St Pancras to Bedford was spotted by passengers as running a ‘trifling’ 1,387 minutes late. [Daily Telegraph]
Companies and finance
FirstGroup has begun to stem its losses, raising hopes that its recovery is taking hold after a year in which a painful £615m rights issue sent its shares plunging. [Financial Times]
Shares in Alstom jumped after the French industrial bellwether announced it would cut 1,300 jobs in an attempt to boost competitiveness and offset the effect of weaker markets. [Financial Times]
