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Latest Finance News related to Stagecoach

Carillion has 'no future without rights issue of at least £500m' image
Source : Guardian [Read Article] Thursday 13th of July 2017 06:20:18 AM
....Meanwhile, just before the profit warning, it was revealed that another Carillion project – an experimental tram-train linking Sheffield and Rotherham – has cost more than five times the agreed budget and is running almost three years late. The government has been forced to compensate tram operator Stagecoach for the delays with a £2. ...
Major rail disruption looms in August as stations are closed image
Source : Guardian [Read Article] Monday 10th of July 2017 12:52:08 PM
.... Some stations on the network will be closed entirely while others, as far from the capital as Winchester and Basingstoke, will be “exceptionally busy” with significantly fewer trains in operation. The South Western franchise will also change hands from Stagecoach to new operators First-MTR during the upheaval, which Carne said was “not ideal”. ...
Sheffield to Rotherham tram-train is five times over budget, says NAO image
. An experimental tram-train linking Sheffield and Rotherham has cost more than five times the agreed budget and is running almost three years late, with the government forced to compensate tram operator Stagecoach for the delays with a £2. ...
Horror stories told by central bankers will not end in an interest rate shock image
.... On a line that promised easy pickings, first GNER and then National Express each lasted only 18 months before announcing they couldn’t make it work. The present incumbent has managed two years before confirming it would be seeking some form of bailout, demanding that the Department for Transport renegotiate with preferential terms for the Stagecoach-Virgin partnership. ...
Stagecoach says it has overpaid for East Coast rail contract as profitability plunges image
. The London-to-Edinburgh rail line is facing its third crisis of private ownership in 11 years after Stagecoach clashed with the government over the terms of its East Coast franchise. ...
Derby-based Bombardier beats German rival to £900m train contract image
Source : Guardian [Read Article] Tuesday 20th of June 2017 09:01:04 AM
.... They can run at 100mph, should be more energy efficient and help reduce journey times. The British-built trains will replace German-made rolling stock ordered by the outgoing franchise holder, Stagecoach. ...
Sir Stelios Haji-Ioannou pledges to give half of £2bn fortune to charity image
.... He is expected to give away about £1bn of that, some of it in cash during his lifetime and the remainder by selling assets through the terms of his will. Haji-Ioannou joins a host of billionaires who have made the pledge, whose British contingent includes the Virgin Group founder, Sir Richard Branson, Ann Gloag, the transport group Stagecoach’s co-founder, and Lord Sainsbury, whose family started the supermarket chain. ...
Virgin, Stagecoach and France's SNCF link up for HS2 bid image
Source : Guardian [Read Article] Tuesday 25th of April 2017 12:47:58 PM
....The French state railway SNCF is to partner with Virgin Trains for a bid to run the first HS2 high-speed trains. The competition for the West Coast Partnership franchise will pit the Virgin, Stagecoach and SNCF consortium against First Group and the Italian state-owned Trenitalia, with other potential bidders still to come forward. ...
British rail is nationalised all over again – by foreign states image
Source : Guardian [Read Article] Saturday 1st of April 2017 02:59:28 PM
.... Still, the news last week that South West Trains – serving destinations such as Weymouth and Windsor from Waterloo – would from August be operated by First MTR, partly owned by the Hong Kong government, marked a tipping point in Britain’s rail franchising. With the transfer of this network, which has been operated since 1995 by Britain’s Stagecoach, one in two of the 1. ...
Chinese firm MTR to help operate UK's South West trains franchise image
Source : Guardian [Read Article] Monday 27th of March 2017 07:52:43 AM
....2bn will be reinvested in the railway, according to the terms of the deal. First MTR will take over from Stagecoach, which has operated the South West Trains franchise since the UK rail network was privatised in 1996. ...
South West Trains: Hong Kong firm MTR to help run rail franchise image
....Rail union RMT has reacted angrily saying MTR, which will hold a 30% share, "is set to make a killing at the British taxpayer's expense". Stagecoach currently runs SWT services across south west England. ...
Stagecoach: cheap fuel means more people are choosing to travel by car image
Source : Guardian [Read Article] Wednesday 7th of December 2016 01:51:08 PM
. Stagecoach has said that lower fuel prices are encouraging consumers to choose car and air travel over buses and trains, weighing on its first-half revenue growth. ...
Yes, Italy’s constitution needs fixing. But not as urgently as its banks do image
....Virgin’s immediate problem on the east coast is that passenger growth is much lower than predicted. Few would weep to see a dent in the profits of the joint venture between Stagecoach and Richard Branson; but the recent history of this franchise is littered with private firms, from Sea Containers’ GNER to National Express, throwing back the keys when the going got tough. ...
Rail fare rises driven by hikes on Virgin Trains East Coast image
Source : Guardian [Read Article] Friday 2nd of December 2016 01:00:35 PM
....However, it has already been accused of making several “stealth hikes” to fares – including removing some of the cheapest advance fares in the first few months after it took over the franchise. The rail firm – a partnership between Richard Branson’s Virgin and the transport group Stagecoach – won the franchise in March 2015, when it was controversially reprivatised by the coalition government after more than five years of operation in the public sector. ...
New West Coast rail franchise to run HS2 services image
Source : BBC [Read Article] Friday 4th of November 2016 08:27:34 AM
....The contract will run for the first three to five years of HS2's operation. The West Coast franchise is currently run by Virgin Trains as a joint venture between Stagecoach and Virgin. ...
Stagecoach unveils contactless bus travel plans image
Source : BBC [Read Article] Thursday 20th of October 2016 12:44:26 PM
. Stagecoach has announced plans to bring in contactless payment technology on all of its UK regional bus services by the end of 2018. ...
Virgin Trains East Coast strike 'solid' says RMT image
Source : BBC [Read Article] Monday 3rd of October 2016 03:36:11 AM
.... . "It is clear that Virgin and Stagecoach have mounted the biggest and most expensive scabbing operation in recent rail history with managers from across the country dragged in to commandeer our trains. ...
Why did Sir Richard Branson take on Jeremy Corbyn? image
Source : BBC [Read Article] Wednesday 24th of August 2016 10:01:53 AM
....There is a common feeling that nationalisation, a return to the "good old days" of British Rail, would make the problems go away. Branson and his fellow private rail operators - notably Stagecoach, which owns 90% of the Virgin East Coast franchise where Corbyn tried to find a seat - are eager to kill this idea as quickly as possible. ...
Firms giving advice on aggressive tax avoidance could face large fines image
Source : Guardian [Read Article] Tuesday 16th of August 2016 11:01:16 PM
....Earlier this month, HMRC successfully defeated a scheme used by the brewery giant Greene King called Project Sussex, which had been marketed by Ernst & Young. A complex tax avoidance scheme being used by transport group Stagecoach to wipe £11m off its tax bill was defeated in the tax courts in March. ...
Virgin Trains East Coast strikes to be held in August image
Source : BBC [Read Article] Friday 12th of August 2016 11:12:00 AM
.... Depot maintenance workers will not be taking strike action. The union accused Virgin and Stagecoach, who run the franchise, of trying to "bulldoze through a package of cash-led measures that would decimate jobs, working conditions and threaten the safety regime that currently ensures a guard on every train". ...

Stagecoach eyeing Government compensation over East Coast
 image
Source : Telegraph [Read Article] Wednesday 29th of June 2016 05:06:31 PM
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Related to :
Now’s the time for this government to act on tax avoidance | John McDonnell image
.... Ernst & Young act as tax advisers to Facebook, Apple, and Google. In March the Stagecoach group, advised by KPMG, had a tax avoidance schemes declared illegal by the high court. ...
First Group to launch budget London to Edinburgh rail service image
Source : Guardian [Read Article] Thursday 12th of May 2016 12:07:46 PM
....First Group will launch a rival operation, which is says will offer lower fares and an earlier arrival in the Scottish capital, from 2021 after the rail regulator granted it open-access rights on the east coast mainline. Stagecoach, which runs Virgin Trains as a joint venture with Sir Richard Branson – and expects to pay £3. ...
Virgin’s fare fight with FirstGroup: Collision course after rail service green light image
....The 10-year open access rights deal will run from 2021. Plans by Virgin – a consortium of Sir Richard Branson’s company and Stagecoach – to run new services on the line were also approved by the Office of Rail and Road. ...
Scottish rail franchises will be open to bids from public sector – Sturgeon image
.... Scottish Labour leader, Kezia Dugdale, told the STUC conference that Labour would “bring ScotRail under public ownership”, although they would also be limited to supporting a public bid for the franchise under devolved powers. Scottish Labour argues that its commitment to public control of transport is reflected in its pledge to regulate bus services and introduce a national smart ticketing system – a policy dropped by the SNP, whose major donors include Brian Souter, chairman of Stagecoach. ...
Sir Richard Branson's Virgin deals image
Source : Guardian [Read Article] Monday 4th of April 2016 05:35:40 PM
.... Branson banked £230m from the sale and kept a 20% stake. Branson continues to co-own the rail operator, which has run the West Coast franchise since 1999, with Stagecoach. ...
London Waterloo's one-time Eurostar platforms to be returned to use image
Source : Guardian [Read Article] Wednesday 23rd of March 2016 08:26:32 PM
....Sir Peter Hendy, the chairman of Network Rail, described the plan as “the biggest package of improvements for passengers travelling to and from Waterloo for decades”. Tim Shoveller, the managing director of Stagecoach Group’s UK rail division, which owns SWT, said capacity would be increased by 30% during peak times by 2019. ...
Richard Branson says EU exit would be 'saddest day' for Britain image
Source : Guardian [Read Article] Friday 18th of March 2016 01:42:40 PM
.... Assembled at Hitachi’s new Newton Aycliffe plant, the trains have been rebranded Azumas by Virgin. Brian Souter, the chairman of Stagecoach, which operates Virgin Rail with Branson, said the name Azuma – Japanese for east – was chosen to reflect the rising sun. ...
Public v private: what next for the ownership of Britain's railways? image
Source : Guardian [Read Article] Tuesday 8th of March 2016 07:04:14 PM
....Under current plans, responsibility for individual routes will be devolved. The Wessex route was also the basis for an experiment that saw a so-called “deep alliance” between Network Rail and the train operator, Stagecoach-owned South West Trains, with a joint management team responsible for the track and trains that was regarded as positive despite eventually breaking down over money. ...
Kipper Williams on Stagecoach's £11m tax avoidance scheme image
Source : Guardian [Read Article] Monday 7th of March 2016 07:55:44 PM
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Finally, someone at EDF sees the £18bn farce that is Hinkley Point image
Source : Guardian [Read Article] Monday 7th of March 2016 07:35:00 PM
.... So, here you would think, is an open goal – a court defeat for a Scottish company that used a complex scheme to wipe £11m off its tax bill. The company is Stagecoach, whose chairman, Sir Brian Souter, happens to have been a major donor to the SNP. ...
Stagecoach loses court case over £11m tax avoidance scheme image
Source : Guardian [Read Article] Monday 7th of March 2016 02:26:43 PM
. A complex tax avoidance scheme being used by transport group Stagecoach to wipe £11m off its tax bill has been defeated in the tax courts. ...
Rail franchising could cost more due to lack of competition, MPs say image
Source : Guardian [Read Article] Friday 12th of February 2016 12:01:03 AM
....Fears over dwindling interest and competition in rail were underlined last week when the DfT announced only two shortlisted bidders for the South Western franchise, Britain’s most lucrative commuter network. One of the bidders was the incumbent, Stagecoach, which has run it for 20 years. ...
As growth falters, Osborne hopes Mark Carney can keep a lid on interest rates image
....Last week, two decades to the day since the first privatised train service rolled into London Waterloo, the Department for Transport unveiled its shortlist for the next firm to run that same south-west franchise. Which operator, incidentally, operated that first train? Stagecoach. ...
City News: Marks and Spencers, South Western, Astra and Vodafone image
Source : Daily Express [Read Article] Thursday 4th of February 2016 07:58:00 PM
....The FTSE 250 rivals have been shortlisted to operate one of the UK’s busiest networks from June 2017. Stagecoach has operated the network under the South West Trains brand since 1996 but it failed to reach agreement with the Department of Transport over renewing the franchise. ...
Stagecoach and FirstGroup go head-to-head for South Western rail contract image
Source : Telegraph [Read Article] Thursday 4th of February 2016 12:17:45 PM
. Stagecoach is going head-to-head with FirstGroup in the battle for the next South Western rail contract after just two companies were short-listed to run one of the country’s busiest commuter train networks. ...
Ryanair predicts price falls as profits double image
Source : Guardian [Read Article] Monday 1st of February 2016 09:37:45 AM
....The growth in profit came despite a 1% fall in average fares, as the airline reacted to a drop in demand after the terrorist events in Europe in November. The co-ordinated murder of 130 people in Paris on 13 November and the associated terrorist alert in Brussels caused bookings to fall for companies ranging from tour operator Thomas Cook to the train and coach operator Stagecoach. ...
FirstGroup says rain and floods will hit profits image
Source : Guardian [Read Article] Thursday 28th of January 2016 10:15:29 AM
....In the US, the company was hit by driver shortages “as a result of the tightening US employment market”. FirstGroup is trying to get back on track after losing several major UK rail franchises last year, including the East Coast line to Virgin and Stagecoach. ...
FirstGroup issues profit warning after British floods image
Source : Telegraph [Read Article] Thursday 28th of January 2016 08:23:51 AM
.... But it also added some serious debt to its balance sheet  Photo: Alamy. Chief executive Tim O'Toole said despite the "terrible weather", FirstGroup would continue its transformation having lost a number of major UK rail franchises, including the East Coast line to Stagecoach and Virgin last year. ...
Paris and Egypt terror attacks scared British travellers off flying, says EasyJet  image
Source : Daily Express [Read Article] Tuesday 26th of January 2016 04:56:00 PM
....1 per cent to £930 million in the quarter. Last year Stagecoach revealed Britons had cut travel to London fearing it could be the next target for terrorist attack. ...
Tesco builds temporary store in a week to replace flooded Cumbrian superstore image
....Businesses damaged by the storm included McVitie’s biscuit factory in Carlisle and James Cropper’s paper factory in Burneside, Cumbria. The upmarket cloth producer Walker Greenbank has warned of potential shortages at its fabric printing site in Lancaster, and Stagecoach’s bus operations in affected areas have been flooded out of service. ...
Upmarket fabric maker counts cost of Storm Desmond image
Source : Guardian [Read Article] Monday 14th of December 2015 10:49:27 AM
....Accountancy firm PricewaterhouseCoopers has estimated the cost of damage done by Storm Desmond at £500m – almost double the cost of the floods that hit the UK six years ago. Stagecoach, the rail and bus operator, said last week its bus service in Cumbria and the north-west of England was under water and that Storm Desmond had also hurt its Scottish business. ...
Stagecoach group's shares plummet after Paris attacks image
Source : Daily Express [Read Article] Wednesday 9th of December 2015 06:43:00 PM
....Roadworks and congestion and recent flooding have also put the brakes on its UK bus operations, while lower fuel prices have led to more people getting in their cars rather than using its inter-city coach service in North America. Stagecoach chief executive Martin Griffiths, said: “Since mid-November, we have seen a reduction in the rate of revenue growth in parts of our rail and intercity coach operations in the UK and continental Europe. ...
Britons too scared to visit London after Paris terror attacks as ISIS says ‘you’re NEXT' image
....The firm's rail and bus services between British and European cities, including the French capital, have taken a huge hit after 130 were massacred three weeks ago, the firm said today. Leisure trips to London have been worst affected with fewer people making journeys to the capital outside usual commuting hours on South West trains and on coaches from Oxford, which are both run by Stagecoach. ...
Stagecoach: Paris attacks deter travel image
Source : BBC [Read Article] Wednesday 9th of December 2015 11:59:16 AM
. Stagecoach has blamed the Paris terror attacks for a slowdown in revenue growth at the transport group. ...
FTSE slips again but Ashtead climbs after positive update image
Source : Guardian [Read Article] Wednesday 9th of December 2015 10:30:18 AM
.... Over time, we think the education market is becoming more competitive, as the old print-based oligopolies are challenged by free content and new entrants. Elsewhere Stagecoach has slid 49. ...
Stagecoach shares slide as travellers avoid cities amid terrorism fears image
Source : Guardian [Read Article] Wednesday 9th of December 2015 10:21:08 AM
. Stagecoach’s shares have plunged after the bus and rail operator said its business is being hit because people have been fewer trips to big cities in the UK and Europe since the Paris attacks. ...
FirstGroup awarded TransPennine Express franchise in boost for Northern Powerhouse image
....62. Shares in Stagecoach, which warned on profits as well as missing out on the Transpennine award, also plunged. ...
Bidding for West Coast rail franchise faces further delays image
Source : Telegraph [Read Article] Tuesday 24th of November 2015 05:00:37 AM
.... . Virgin Trains, a joint venture between Sir Richard Branson’s company and Stagecoach that has operated the West Coast since 1997, was last year awarded a new contract to continue running it until the end of March 2017, although the DfT has the option to extend it by a year. ...
London's congested roads slow Stagecoach's growth image
Source : Telegraph [Read Article] Wednesday 4th of November 2015 08:17:42 AM
. Busy roads in central London have held back Stagecoach's growth, as a programme of roadworks has prevented buses from getting around the capital on schedule. ...
Bus company shares leap after re-regulation plans defeated image
Source : Telegraph [Read Article] Tuesday 3rd of November 2015 05:04:14 PM
.... . Shares in Stagecoach and Go-Ahead, which both run services in the area along with Deutsche Bahn-owned Arriva, climbed by 4. ...
Plans for public control of buses suffer setback image
Source : Guardian [Read Article] Tuesday 3rd of November 2015 10:05:18 AM
....The operators had argued that attempts to take control of routes would be in breach of their economic rights. The board judged that Nexus, the region’s transport executive, would potentially be causing Stagecoach, Go-Ahead and Arriva to lose up to £226m in business if the scheme went ahead, and that they should be compensated. ...
Plans to bring local buses under public control face ruling blow image
Source : Guardian [Read Article] Monday 2nd of November 2015 07:11:52 PM
....Plans to bring local buses back under public control are to be dealt a blow by a ruling that is expected to judge Tyne and Wear’s pioneering attempt to regulate its services as unworkable. In the culmination of a bitter, drawn-out battle between the regional authority in Newcastle upon Tyne and private bus firms, an independent board could in effect dismiss a scheme to re-regulate buses, warning that the plans would potentially leave the authority liable for millions of pounds in compensation for operators such as Stagecoach. ...
All change: Britain's railways on the verge of a shake-up image
Source : Telegraph [Read Article] Saturday 31st of October 2015 03:30:24 PM
.... . The CMA is assessing options to bolster competition and, should it press ahead with its more radical measures, it would result in a significant shake-up for companies such as Stagecoach and Virgin. ...
National Express moves forward on outlook and dividend hopes image
Source : Guardian [Read Article] Monday 26th of October 2015 11:05:20 AM
.... Historically, we have preferred UK regional bus exposure for its commercial freedoms, consistent regulation and superior returns. These factors appear to be changing, causing us to favour FirstGroup and National Express over Go-Ahead and Stagecoach. ...
Virgin and Stagecoach demand scrapping of rail franchises to boost competition image
. Sir Richard Branson's Virgin and Stagecoach have called for rail franchises to be scrapped on inter-city routes and replaced by a licensing system in a radical overhaul they claim would boost competition. ...
Passengers on delayed trains to get automated refunds for first time image
Source : Guardian [Read Article] Friday 2nd of October 2015 10:00:11 PM
....Virgin had the second-worst ratio of late trains of any operator, with a quarter of Virgin’s West Coast services at least five minutes behind schedule, and the company’s east and west coast mainline services attracted the most complaints of any operator, according to figures released by the Office of Rail and Road. Related: West coast mainline: Virgin Trains and Stagecoach are expected to triple profits. ...
British maker of world's most expensive perfume bought by Stagecoach founders image
Source : Telegraph [Read Article] Thursday 17th of September 2015 10:29:24 PM
. Clive Christian, the interiors and perfume company, is to be bought by a consortium that includes the founders of Stagecoach and venture capitalist Jon Moulton. ...
.... Trading volumes were larger than normal, as investors rushed to get in on the action. Shares in FTSE 250 firm Stagecoach chugged 1. ...
Stagecoach extends East Midlands rail franchise until 2018 image
Source : Telegraph [Read Article] Wednesday 16th of September 2015 07:00:09 AM
. Passengers travelling between London and the East Midlands should soon the see the benefit of a £13m investment in the line, as rail operator Stagecoach extended its control of the franchise until 2018. ...
Stagecoach slides nearly 3% after sell note image
Source : Guardian [Read Article] Tuesday 15th of September 2015 11:41:42 AM
. A downbeat broker note has put the brakes on transport group Stagecoach. ...
Pirc’s Stagecoach campaign departs early image
Source : Guardian [Read Article] Sunday 30th of August 2015 07:59:00 AM
. Stagecoach, the bus and train operator, has responded in unusually frank terms to a call for shareholders to oppose its remuneration report at this week’s annual general meeting. ...
City News update: Tata Steel, Stagecoach, WPP, HSS image
Source : Daily Express [Read Article] Thursday 27th of August 2015 12:42:00 PM
....”. FALLING fuel costs are hitting demand for Stagecoach’s inter-city coach services in North America as more people take to their cars. ...
In a crowded field, William Hill might not get a ride this time image
Source : Independent [Read Article] Wednesday 26th of August 2015 11:57:16 PM
.... Often I am mortified by their progress after being dumped. Avon Rubber, Anglo Pacific and Stagecoach spring to mind. ...
Competing on the same tracks image
Source : BBC [Read Article] Saturday 18th of July 2015 04:16:27 PM
....Repeatedly, innovation on price and service has forced the incumbent franchisee to respond, and passenger satisfaction hasn't suffered. On Virgin Train services, where Stagecoach is the main partner, the Perth company's Megabus online budget ticketing system also offers Megatrain options. ...
Budget 2015: HS1 boss drafted in to review Network Rail  image
Source : Telegraph [Read Article] Wednesday 8th of July 2015 06:00:29 PM
.... . In a major change, it is understood that the grant will be reduced, leaving more money available for the franchise agreements that the DfT strikes with companies such as FirstGroup, Stagecoach and National Express that run services. ...
Source : Independent [Read Article] Wednesday 8th of July 2015 12:11:30 AM
. Stagecoach’s hopes of being awarded an extension to its South West Trains franchise without competition have been dashed after talks between the company and the Government collapsed. ...
Source : Independent [Read Article] Wednesday 8th of July 2015 12:08:14 AM
. No sniggering in the back now please, but yes, the Department for Transport has rather driven a coach and horses through Stagecoach’s hopes of securing a  two-year extension of its South West Trains franchise. ...
Stagecoach must bid for South West rail franchise after Government talks collapse image
. Stagecoach could lose a rail franchise it has run for almost 20 years after talks with the Government over extending the South West contract collapsed. ...
Stagecoach fails to secure direct award of South West Trains franchise image
. Stagecoach has failed to reach agreement with the government over renewal of its South West Trains rail franchise. ...
Virgin Trains East Coast accused of stealth 100% fare increase image
Source : Guardian [Read Article] Wednesday 1st of July 2015 11:29:52 AM
....In March 2015 a new consortium took over the east coast rail franchise with a promise by the then transport minister that the deal would be “fantastic” for both customers and staff. But the new operator, which is 90% owned by Stagecoach but prominently features Virgin’s branding, has in effect doubled some passengers’ journey costs by removing the cheapest advance fares. ...
Source : Independent [Read Article] Thursday 25th of June 2015 12:40:57 AM
. The train, coach and bus operator Stagecoach has cashed in on growing demand for public transport, despite huge falls in oil prices – and expects the recently won East Coast mainline to generate significant profits. ...

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