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CMA backs travel cards for further government exemption

Thu, 10th Dec 2015 11:15

(ShareCast News) - UK competition regulators have recommended extending the exemption of multi-operator travelcard ticketing schemes from competition law.Although the Competition and Markets Authority was concerned that agreements between transport operators can sometimes raise competition concerns, a consultation by the CMA found that if travellers are allowed to use integrated ticketing schemes such as through tickets or travelcards with different operators, they provide real benefits for passengers.The CMA therefore recommended the Secretary of State for Business, Innovation and Skills renews the existing block exemption, which is due to expire on 29 February 2016, for an additional period of 10 years.The Secretary of State will now consider the CMA's recommendations, with any amendment order needed to have effect from the beginning of March 2016 at the latest."Passengers receive substantial benefits from multi-operator ticketing schemes and that is why we are recommending the block exemption is retained," said Roland Green, CMA senior policy director."We also want travellers to benefit from opportunities offered by smart ticketing, for example by enabling price-capped, pay-as-you-go tickets to be usable across different operators."We also think that extending the exemption to a 10-year period will be welcomed by the industry as it will provide greater legal certainty for their operations."The added clarity should make the block exemption easier to use, particularly for bus operators and local authorities, and we hope that this will encourage the development of multi-operator ticketing schemes."
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31 Jul 2020 12:32

In UK statisticians' eyes, rail industry back under state control

LONDON, July 31 (Reuters) - Britain's rail industry, privatised in the mid-1990s, is now back under state control -- in the eyes of the country's statistics agency.Britain's Office for National Statistics said on Friday the scale of government int...

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17 Jul 2020 09:38

UK BROKER RATINGS SUMMARY: Deutsche Bank Raises National Grid To Buy

UK BROKER RATINGS SUMMARY: Deutsche Bank Raises National Grid To Buy

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25 Jun 2020 09:42

UPDATE 2-UK blue-chips rise with European peers; Royal Mail drags mid caps lower

(For a live blog on European stocks, type LIVE/ in an Eikon news window)* Royal Mail drops 12.4% after scrapping dividend* Lender NSF warns of going concern risks* Travel and leisure stocks hit one-month low* FTSE 100 up 0.4%, FTSE 250 off 0.2%* Ban...

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24 Jun 2020 13:42

Wednesday broker round-up

(Sharecast News) - G4S: Credit Suisse upgrades to outperform with a target price of 140p.

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18 Jun 2020 12:17

Britain approves spending of 3.5 billion pounds on railway bailout

LONDON, June 18 (Reuters) - Britain has so far approved spending of 3.5 billion pounds ($4.38 billion) to keep its railways running during the coronavirus pandemic, the government said on Thursday.Under emergency measures brought in on March 23 fo...

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28 May 2020 16:17

UK Earnings, Trading Statements Calendar - Next 7 Days

UK Earnings, Trading Statements Calendar - Next 7 Days

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27 May 2020 09:30

UK BROKER RATINGS SUMMARY: Berenberg Downgrades Pearson To Sell

UK BROKER RATINGS SUMMARY: Berenberg Downgrades Pearson To Sell

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26 May 2020 15:22

Go-Ahead's Govia Using Disinfectant Which Can Kill Virus For 30 Days

Go-Ahead's Govia Using Disinfectant Which Can Kill Virus For 30 Days

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22 May 2020 13:37

Friday broker round-up

(Sharecast News) - Whitbread: RBC Capital Markets reiterates underperform with a target price of 2,350p.

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22 May 2020 13:34

Jefferies stays at 'buy' on Go Ahead, likes portfolio and balance sheet

(Sharecast News) - Analysts at Jefferies reiterated their 'buy' recommendation for shares of Go-Ahead Group, highlighting the attractions of its portfolio, especially its UK franchise and balance sheet positioning.

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22 May 2020 10:32

TOP NEWS: Go-Ahead Issues Profit Warning Over German Rail And Covid-19

TOP NEWS: Go-Ahead Issues Profit Warning Over German Rail And Covid-19

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22 May 2020 09:23

UPDATE 2-Asia-focused banks lead FTSE 100 lower as trade tensions flare

(There will be no London stock market report on Monday May 25 due to a UK public holiday.)* HSBC, StanChart tumble to multi-year lows* FTSE 100 set for second straight monthly gain* Both major indexes log strongest week in six* April retail sales cr...

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22 May 2020 08:11

UPDATE 1-Go-Ahead Group warns coronavirus will hit profit, shares slump

(Adds detail, background, share price)LONDON, May 22 (Reuters) - Britain's Go-Ahead Group warned that the impact of the novel coronavirus would hit profits this year, and uncertainty around the use of public transport once lockdown eases means it ...

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22 May 2020 07:46

LONDON MARKET PRE-OPEN: Burberry And United Utilities Profit Drops

LONDON MARKET PRE-OPEN: Burberry And United Utilities Profit Drops

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22 May 2020 07:43

Covid-19 puts brakes on Go-Ahead profits

(Sharecast News) - Shares in Go-Ahead fell heavily on Friday, after the travel group warned that the Covid-19 outbreak and ongoing problems at its German rail franchise would hit full-year profits.

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