Little to celebrate in lowball ENRC offer
The verdict of one observer on an indicative offer for Eurasian Natural Resources is that “you can’t imagine there would be a deal completion party – and if there was,…
Rights issue plan derails FirstGroup
Shares in FirstGroup plunged 30 per cent on Monday as investors balked at a £615m rights issue and the scrapping of its dividend. Some income funds offloaded shares in the…
FirstGroup shares plunge on rights issue
©Bloomberg The fallout from last year’s West Coast mainline fiasco was the “final straw” that forced FirstGroup to launch a heavily discounted rights issue on Monday, according to its chief…
China Railway plans bond auction
The newly formed China Railway Corporation will make its capital market debut with the sale of Rmb20bn ($3.25bn) in bonds this week, raising funds that are needed to get the…
Chairman to step down from FirstGroup
©Bloomberg FirstGroup is expected to announce that chairman Martin Gilbert is set to step down in an attempt to placate investors as it unveils plans for a £600m rights issue…
New England rail services hit after trains collide
Rail passengers travelling between New York and New England look set to face days of disruption after two trains collided in Connecticut on Friday after one of them left the…
Businesses challenge NAO over rail link
Business figures and local politicians across England have hit out at the spending watchdog’s criticism of the proposed high speed rail line between London and the north, saying the link…
Banks sue Lisbon over ‘toxic’ asset claims
©Bloomberg Lisbon is taking action against the Portuguese subsidiary of Spain’s Santander bank JPMorgan Chase and Banco Santander have launched a counter-attack against Portuguese state-owned companies as a bitter legal…
National Express eyes German rail tenders
National Express underlined its focus on expanding its position in Germany, as it looked to build on its initial success in Europe’s largest rail market by bidding for new tenders…
Arriva in northern rail services plan
Deutsche Bahn, the German state-owned rail operator, is seeking to start passenger services on the West Coast mainline that would put it in competition with incumbent Virgin Rail. Arriva, DB’s…
Ukip ‘fruitcakes’ make parties nervy
©Guzelian Ukip supporters outside the party’s by-election campaign shop in Wellgate For a party with no MPs and few councillors, the UK Independence party is getting a lot of attention…
Airlines hit as passengers shift to rail
The shift from air to rail travel in the UK market is revealed by figures out on Monday that show train use on domestic air routes has jumped almost 60…
Bidders set to battle for Crossrail route
©Bloomberg A fierce battle to run the trains on the UK’s newest rail line will start this week when at least six bidders are expected to put themselves forward for…
Siemens warns on late Eurostar delivery
©Reuters Siemens’ rail division faces further costly charges after it warned of a delay to the delivery of trains to Eurostar, the high-speed cross-Channel rail operator, that underscored the technical…
State-run railway beats private rivals
©Alamy The state-run East Coast mainline has emerged as the most efficiently run rail franchise in terms of its reliance on taxpayer funding, raising questions about a recent government decision…