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Minister tells Southern Railway to pull up its socks

Mon, 11th Jul 2016 10:08

(ShareCast News) - Under-fire train operating company Southern Railway has been warned by the rail minister to pull up its socks - or risk having its parent company barred from bidding for any future franchises.The operator is responsible for routes in south London and the south of England, primarily centred around the London to Brighton main line out of Victoria station.It is a part of the Govia Thameslink Railway 'superfranchise', which is majority-owned by FTSE 250 transport company Go-Ahead.Southern services have been plagued by hundreds of delays and cancellations daily as a result of what the company calls staff shortages - though the unions dispute that claim and say the chaos is a result of mismanagement and unfair treatment of workers.Govia has introduced an emergency timetable which sees 341 trains each day disappear from the schedules, in a bid to "normalise" services.Rail minister Claire Perry told BBC Radio 4's Today on Monday that Govia would not be allowed to bid for further franchises unless it improved it service.She did not go as far as saying she would review its ownership of the franchise, however."It's been quite clear to me that companies who cannot deliver a good service, particularly over the things they can control, should not be bidding for new franchises and we need to be absolutely clear about that," Perry said."We need to ask serious questions about their performance going forward."Perry said the failures were the collective responsibility of Govia, the Department for Transport and state infrastructure owner Network Rail."If I were to say today the department is to run the franchise, would anything change?""The problems we've got are a major engineering works and a series of industrial actions, both of which would continue regardless of whose name is on the door," the minister said.Perry stressed the importance of getting Govia and the unions to "sort out their differences".The operators long-suffering commuters are expected to demonstrate at London Victoria station during the evening rush hour, in protest of the ongoing state of the service.
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6 Jun 2019 07:25

Go-Ahead lifts expectations for London, intl bus units

(Sharecast News) - Public transport operator Go-Ahead Group said revenue had grown in all three of its divisions in the period from December 30, 2018 to June 5, 2019.

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5 Jun 2019 10:43

WINNERS & LOSERS SUMMARY: Provident Financial Shares Jump On Bid Lapse

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Wednesday.----------FTSE 100 - up 3.0%. The cruise line operator agreed a

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5 Jun 2019 08:50

Go-Ahead Group Confirms Elodie Brian As Chief Financial Officer

LONDON (Alliance News) - Go-Ahead Group PLC on Wednesday said it appointed interim Chief Financial Officer Elodie Brian to the company's board in the role of permanent CFO.Brian had the

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5 Jun 2019 07:59

Go-Ahead names Elodie Brian as permanent CFO

(Sharecast News) - British public transport operator Go-Ahead Group made interim chief financial officer Elodie Brian's appointment permanent on Wednesday.

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5 Jun 2019 07:44

LONDON MARKET PRE-OPEN: Non-Standard Finance Deal For Provident Off

LONDON (Alliance News) - Stock prices in London are set to open higher on Wednesday, following onfrom sharp gains seen on Wall Street after Federal Reserve Chair Jerome Powell suggested the US of

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30 May 2019 16:10

UK Earnings, Trading Statements Calendar - Next 7 Days

Friday 31 May Wizz AirFull Year ResultsCharles StanleyFull Year Year MediaFull 3

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9 Apr 2019 16:47

LONDON MARKET CLOSE: Stocks Slip On IMF Forecast Downgrade, US Tariffs

LONDON (Alliance News) - The FTSE 100 returned to the red as Tuesday's session progressed, stocks in Europe slipping on trade fears and global growth downgrades from the International Monetary

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9 Apr 2019 11:56

UK bus and rail sector 'running out of steam', says HSBC

(Sharecast News) - Analysts at HSBC took a fresh look at Britain's bus and rail transport businesses on Tuesday, changing their estimates and target prices on several outfits as the sector appeared to be "running out of steam".

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9 Apr 2019 10:46

WINNERS & LOSERS SUMMARY: 7digital Warns Of Need For Capital Raise

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Tuesday.----------FTSE 100 - WINNERS----------Anglo up -

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14 Mar 2019 10:27

Go-Ahead's GTR slapped with £5m fine for 'awful' timetable disruption

(Sharecast News) - Go-Ahead Group's Govia Thameslink Railway (GTR) was facing a £5m fine on Thursday, after the Office of Rail and Road (ORR) found that it had failed to provide appropriate, accurate and timely information to passengers following the introduction of a new timetable last May.

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25 Feb 2019 13:44

Monday broker round-up

(Sharecast News) - WPP Group: Shore Capital Markets upgrades to buy.

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22 Feb 2019 09:37

BROKER RATINGS SUMMARY: Sainsbury's Gets More Downgrades

LONDON (Alliance News) - The following London-listed shares received analyst recommendations on Thursday and on Friday morning:----------FTSE 100----------UBS CUTS J TO

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21 Feb 2019 08:46

Go-Ahead Raises Full-Year Outlook As Rail Results Beat Expectations

LONDON (Alliance News) - Go-Ahead Group PLC on Thursday reported a plunge in interim profit but said results were "ahead of expectations".For the six months ended December 29, the

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21 Feb 2019 07:59

Go-Ahead tops forecasts, ups guidance

(Sharecast News) - Public transport providers Go-Ahead saw operating profits exceed expectations in the first half of its trading year, leading the group to up its full-year guidance.

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20 Feb 2019 14:38

TfL picks Go-Ahead and ViaVan for new 'on-demand' bus trial

(Sharecast News) - Transport for London launched a four-week consultation on plans to trial what it called an "innovative on-demand bus service" in the south London borough of Sutton on Wednesday.

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