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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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5 Apr 2022 08:59

LONDON MARKET OPEN: Stocks down as Biden calls for war crimes trial

(Alliance News) - Stocks in London opened lower on Tuesday amid cautious trade as investors continue to track geopolitical developments.

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5 Apr 2022 08:47

Go-Ahead to resume payouts amid new strategy after "challenging" time

(Alliance News) - Go-Ahead Group PLC on Tuesday said it will reinstate its pre-Covid dividend policy as it set out medium-term plans to boost revenue and profit.

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5 Apr 2022 08:25

LONDON BRIEFING: Go-Ahead reinstates pre-pandemic payout policy

(Alliance News) - Go-Ahead Group PLC on Tuesday said it will reinstate its pre-Covid dividend policy as it set out medium-term plans to boost revenue and profit.

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5 Apr 2022 07:55

Go-Ahead to restart dividends

(Sharecast News) - Go-Ahead said it would restart dividends as the bus and train operator set out targets for improved revenue and profit.

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5 Apr 2022 07:50

LONDON MARKET PRE-OPEN: Moonpig confident; Go-Ahead brings back payout

(Alliance News) - Stocks in London are seen opening lower on Tuesday, with traders still mindful of the possibility of more sanctions being imposed on Russia in the wake of international outrage following killings in the Ukrainian town of Bucha.

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25 Mar 2022 11:14

Go-Ahead's Govia wins contract with National Rail to extend operations

(Alliance News) - Go-Ahead Group PLC on Friday said its subsidiary Govia Thameslink Railway has won a three-year contract extension from National Rail, which oversees train services in Britain.

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25 Mar 2022 10:57

SMALL-CAP WINNERS & LOSERS: Go-Ahead up on Govia deal; Wickes sales up

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Friday.

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25 Mar 2022 08:45

LONDON MARKET OPEN: European stocks drift lower in cautious start

(Alliance News) - Blue-chip European equities nudged lower in early dealings on Friday, in nervy early trade, a stark contrast to stocks in New York, which surged overnight despite markets facing a wealth of uncertainty

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25 Mar 2022 08:05

Go-Ahead's GTR awarded National Rail contract to 2025

(Sharecast News) - Go-Ahead Group announced on Friday that the Department for Transport (DfT) has awarded a National Rail contract to its Govia Thameslink Railway (GTR) joint venture, to continue operating the Thameslink, Southern and Great Northern rail services in the south of England.

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25 Mar 2022 07:54

LONDON MARKET PRE-OPEN: Petropavlovsk ability to sell gold threatened

(Alliance News) - Stocks in London were called lower on Friday, after data showed UK retail sales fell in February and a survey showed consumer confidence taking a hit in March.

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21 Mar 2022 15:46

UK shareholder meetings calendar - next 7 days

Tuesday 22 March 
Crest Nicholson Holdings PLCAGM
Hochschild Mining PLCEGM re Amarillo Gold acquisition
Hydro Hotel Eastbourne PLCAGM
Starvest PLCAGM
Sureserve Group plcAGM
Wynnstay Group PLCAGM
Wednesday 23 March 
CML Microsystems PLCGM re employee share plans
Quartix Technologies PLCAGM
Strategic Equity Capital PLCGM re tender offer
Thursday 24 March 
BlackRock Throgmorton Trust PLCAGM
Independent Investment Trust PLCAGM
N4 Pharma PLCAGM
React Group PLCAGM
Friday 25 March 
Beazley PLCAGM
Coro Energy PLCGM re proposed bond restructuring
Europa Oil & Gas Holdings PLCGM re fundraise
Kitwave Group PLCAGM
Triad Group PLCGM re revised remuneration policy
Monday 28 March 
Congyar Investment Co PLCGM re share premium account cancellation
Go-Ahead Group PLCGM re accounts, remuneration, auditor
Jupiter Emerging & Frontier Income Trust PLCAGM
  
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17 Mar 2022 10:59

SMALL-CAP WINNERS & LOSERS: Go-Ahead up as fine less harsh than feared

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Thursday.

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17 Mar 2022 10:34

Go-Ahead gets penalty for train contract that is lower than budgeted

(Alliance News) - Go-Ahead Group PLC said on Thursday it received a lower-than-expected fine from the UK government, in relation to its mishandling of its former London & South Eastern Railway Ltd franchise.

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17 Mar 2022 08:32

Go-Ahead handed smaller fine than expected for Southeastern bungle

(Sharecast News) - Go-Ahead Group has been issued a £23.5m penalty by the Department for Transport (DfT), it announced on Thursday - several million pounds less than it had budgeted for.

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