Zurich UK hit by £2.3m fine for data loss

first_img CITY watchdog the FSA has slapped a £2.3m fine on the UK branch of Zurich Insurance for data security failings after the loss of a tape in South Africa containing details on 46,000 insurance customers.The FSA said the £2.275m fine was the highest to date handed down to a single firm for data security failings.Zurich UK, part of the Zurich Financial Services Group, did not have full control over the data being processed as part of an outsourcing agreement with its South African branch and was not aware of the tape’s loss until a year later, the FSA said. “Zurich UK let its customers down badly,” Margaret Cole, the FSA’s director of enforcement and financial crime, said. “Firms across the financial sector would do well to look at the details of this case and learn from the mistakes that Zurich UK made.” The company said it had already taken measures to improve data security after it became aware of the loss, which occured in August 2008 as the tape was being transferred to a data storage centre.Zurich Insurance UK chief executive Stephen Lewis said the loss of the back-up data tape was “unacceptable”. He added: “It served to remind us of the need to strive continually to improve the ways in which we seek to protect customers’ data.”Lewis said KPMG had been asked to carry out a root-and-branch review of security procedures. The FSA said the fine had been reduced by 30 per cent from £3.25m after Zurich UK agreed to settle at an early stage. FAST FACTS | DATA PROTECTION FINESNorwich Union was fined £1.26m in 2007 for data security problems.Three HSBC affiliated insurance companies paid a total of £3m last year for failing to protect customers’ confidential details. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldBetterBe20 Stunning Female AthletesBetterBeCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy Fanautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite Herald whatsapp Share Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Show Comments ▼ Tuesday 24 August 2010 7:58 pm whatsapp KCS-content Tags: NULL Zurich UK hit by £2.3m fine for data loss last_img read more

ANALYST VIEWS: IS WILLIAM HILL IN LINE FOR A BIG WIN?

first_img ANALYST VIEWS: IS WILLIAM HILL IN LINE FOR A BIG WIN? Tags: NULL whatsapp More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com IVOR JONES | NUMIS The share price has continued to be weak and William Hill has fallen to a level where we believe it is right to pick up shares for the medium-term. We are changing our recommendation to ‘add’ from ‘hold’.GEETANJALI SHARMA | EXECUTION NOBLE William Hill’s performance is impressive as its 26 per cent group net revenue increase compares with eight per cent at Ladbrokes. Management is being cautious on the expectations given the larger consumer concerns.NIGEL PARSON | EVOLUTION SECURITIES William Hill’s results show no major surprises, with flat Ebitda driven by online growth and a strong World Cup, offset by horseracing results and higher marketing costs. The retail cash generation supports a solid dividend yield. KCS-content center_img Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldUndoBetterBe20 Stunning Female AthletesBetterBeUndoCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy FanUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite HeraldUndo Share whatsapp Show Comments ▼ Thursday 26 August 2010 8:23 pmlast_img read more

AT A GLANCE | BP’S COUNTDOWN TO THE GULF OIL SPILL

first_img KCS-content AT A GLANCE | BP’S COUNTDOWN TO THE GULF OIL SPILL whatsapp whatsapp Share More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comMark Eaton, former NBA All-Star, dead at 64nypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org Weak cement workThe day before the accident, cement was pumped down a pipe in the well, which squeezed back up the space between the pipe and the rock layers, known as the annulus. That “light, nitrified foam cement slurry” failed to block oil and gas from moving up into the annulus. Cement design, testing, quality assurance and risk assessment was weak.Barriers failedOnce oil and gas got into the annulus, “shoe track barriers” failed to prevent hydrocarbons from entering the pipe. A shoe track is a barrier designed to block hydrocarbons from entering the bottom of the pipe.Pressure tests misreadA negative pressure test performed on the day of the explosion was misinterpreted as successful by BP well site leaders and the Transocean rig crew. Pressure readings really indicated that hydrocarbons were flowing into the well from the reservoir, but were interpreted as showing that oil and gas were blocked by barriers provided by the cement, shoe track, casing and a casing seal.Delay in detectionThe breach of oil and gas into the well wasn’t detected until they had reached the riser, a pipe that connected the well to the rig.Failure to regain controlEfforts to bring the well under control failed. Crews first tried to close a blowout preventer at the seabed and a diverter, but oil and gas shot up the riser. Hydrocarbons went to an onboard system that separated drilling mud from natural gas rather than to an overboard diverter line that would have sent them into the sea.Separator overwhelmedFast incoming oil and gas overwhelmed the mud gas separator, allowing gas to be vented onto the rig.Air con propelled the gasThe Horizon’s heating, ventilation and air conditioning system likely moved the gas to engine rooms where ignition risk was high.Blowout preventer failedThe blowout preventer failed to seal the well. The report said the explosions and fire on the rig likely disabled mechanisms that allowed rig crews to seal the well and disconnect the riser. In addition, control pods on the blowout preventer were faulty, and underwater robots failed to manually activate valves in it as oil spewed into the ocean after the disaster. Show Comments ▼ Wednesday 8 September 2010 8:31 pm Tags: NULLlast_img read more

National Express given rail franchise reprieve

first_img Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof whatsapp The new coalition government has given National Express a reprieve on the East Anglia rail franchise by granting an initial extension, the company said.National Express, which also runs the C2C franchise, said the Department for Transport had agreed an initial 28-week extension beyond the original expiry date of 31 March 2011.The previous Labour government had denied National Express an extension on the franchise until 2014 as a consequence of defaulting on the East Coast rail service in 2009. The new government, in power since May, had said in June however that it was postponing bids for rail franchises while it conducted a review of franchising policy. “We continue to explore opportunities to deliver our industry-leading rail performance across both our franchises beyond 2011,” chief executive Dean Finch said. whatsapp Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comBridesBlushThis Is Why The Royal Family Kept Quiet About Prince Harry’s Sister BridesBlushcenter_img Tuesday 14 September 2010 3:26 am Share National Express given rail franchise reprieve John Dunne Tags: NULLlast_img read more

Fashion Week’s going mad for 1950s Mad Men

first_img Tags: NULL Share whatsapp Fashion Week’s going mad for 1950s Mad Men by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farminvesting.comCanceled TV Shows Announced: Full Updated Listinvesting.comZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Herald LONDON Fashion Week (17–22 September) got underway this weekend with more than a nod to 1950s Mad Men style.Channelling the popular programme’s signature look, Jasper Conran yesterday revealed models with the nipped in waists and prim cardigans beloved of the show’s Betty Draper.Another era – the 1970s – was also in evidence, with flared trousers and handkerchief hems on the catwalk.Sienna Miller and her sister Savanah made their debut on Saturday with label Twenty8Twelve, appearing to turn to Joni Mitchell for inspiration, with dresses puffed out with colourful petticoats, bib cut denim tops and all-in-one playsuits that had a world traveller feel. Meanwhile Henry Holland’s line seemed to find inspiration from 1970s New York and the Topshop Unique line had all the hallmarks of ’70s folk style but with a coating of glam rock. center_img KCS-content whatsapp Show Comments ▼ More From Our Partners Killer drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org Sunday 19 September 2010 10:16 pmlast_img read more

Watchdog error over Nestle logo

first_img Share Watchdog error over Nestle logo whatsapp Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Show Comments ▼ whatsapp KCS-content Thursday 14 October 2010 8:10 pm Nestle was wrongly allowed to use a government health logo on its website, the Department of Health admitted yesterday. The anti-obesity Change4Life logo should only have appeared alongside a healthy lifestyle message. Instead, it appeared on a website promoting snacks and cereals. The government said it would review the logo’s use and Nestle said it would act on any advice offered. Tags: NULLlast_img read more

Jupiter flying high as assets shoot up 12pc

first_img Share whatsapp Tuesday 19 October 2010 7:48 pm whatsapp Read This NextThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap ASSET manager Jupiter posted a 12 per cent rise in assets under management to £22.2bn at 30 September, trumping analyst forecasts and lifting its shares sharply yesterday.The company, which listed on the London Stock Exchange this summer, reported net inflows of £734m in its third quarter as investors flocked to its mutual funds, especially its Merlin fund of funds and Sicav products.The segregated mandate business – in which Jupiter manages money for institutional investors — had net inflows of £210m, benefiting from the funding of a new mandate and additional assets from existing clients.Jupiter’s shares rose 9.6 per cent to 285p, well up on their 165p June listing price, prompting Numis analysts to upgrade their rating to “add” from “hold” after asset growth outpaced expectations.“We believe the group deserves a premium valuation to reflect premium growth, low earnings volatility and superior margins,” Numis said in a note yesterday.Earlier this month, Jupiter launched a Strategic Total Return fund and a Global Convertibles fund to be managed by recent hires Miles Geldard and Lee Manzi. It said that initial flows into these funds had been “encouraging”.A global emerging markets unit trust run by Kathryn Langridge, who joined in July, will launch in the fourth quarter, Jupiter added.In its half-year results, Jupiter’s chief executive Edward Bonham-Carter said the hedge funds business was moving onshore and its absolute return funds were delivering strong growth. KCS-content center_img Jupiter flying high as assets shoot up 12pc Show Comments ▼ Tags: NULL Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndolast_img read more

BBVA in €5bn cash-call as it buys Garanti

first_imgTuesday 2 November 2010 10:05 pm SPANISH bank BBVA yesterday launched a €5bn (£4.4bn) rights issue to help it fund its diversification away from a stagnant home market and bolster its capital levels in line with new Basel III requirements.BBVA, the second-largest Spanish lender after Santander, said that it would buy nearly a quarter – 24.9 per cent – of Turkish bank Garanti for €4.2bn, and raise €5bn with a rights issue to part-finance the deal. The deal, which gives BBVA joint control with Garanti parent Dogus Group, will officially make the Spanish lender an emerging markets bank with 51 per cent of its earnings now coming from that source. Until now, the bulk of BBVA’s overseas business was in Latin America and the United States. The BBVA rights issue will be a one-for-five offer which will entitle the holders to buy shares at €6.75 each, 29 per cent below Friday’s closing price of €9.11. BBVA paid eight Turkish lira per share for the stake, a 10 per cent discount to last week’s average price, but shares in Garanti, viewed as one of Turkey’s best-run banks, have risen by over a third since the start of the year.As part of the deal, BBVA acquires an option to increase its stake by a further one per cent and get a majority of board seats in five years time. Shares in BBVA fell as much as 3.8 per cent to hit a four-month low of €8.76 before retracing lost ground to close one per cent lower after investors baulked at the price paid and the dilutive effect of the rights issue. Goldman Sachs estimated the rights issue would dilute earnings per share by four to five per cent for 2011-2012. BBVA’s move comes three to four years after other major international banks such as Citigroup, ING and BNP Paribas bought or took stakes in Turkish lenders.BBVA said €3.1bn of the €5.1bn rights issue would be used for the acquisition, with €1bn earmarked for the potential impact of the purchase. The rest would be used for non-acquisitive growth. Morgan Stanley and Goldman Sachs will act as joint global coordinators and bookrunners for the rights issue. BBVA in €5bn cash-call as it buys Garanti by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmDirect HealthyKate Silverton’s PartnerDirect HealthyElite HeraldKate Middleton Just Dropped An Unexpected Baby BombshellElite HeraldReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterMartha Stewart CBDShop Martha Stewart’s CBD Products NowMartha Stewart CBD whatsapp Share KCS-content center_img More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comWhy people are finding dryer sheets in their mailboxesnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com whatsapp Show Comments ▼ Tags: NULLlast_img read more

Hundreds more job losses at Rok

first_imgThursday 11 November 2010 7:44 pm Hundreds more job losses at Rok Collapsed housing repair firm Rok will lose 268 more jobs on top of the 700 cuts already announced, administrator PwC said yesterday. The job cuts will fall in the Scottish plumbing, heating and electrical business. PwC said it was forced to make the redundancies after talks with potential buyers of the business fell through on Wednesday night, but that discussions about the remainder of the stricken business are ongoing. More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.com Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGemZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmcenter_img whatsapp Tags: NULL KCS-content Show Comments ▼ whatsapplast_img read more

Hitachi tipped to win revamped high speed train deal

first_img Hitachi tipped to win revamped high speed train deal Tags: NULL whatsapp KCS-content Show Comments ▼ whatsapp THE government is tipped to confirm Japanese train manufacturer Hitachi this week as the winner of a slimmed-down deal to replace the UK’s ageing Intercity 125 high-speed trains.It is thought ministers have re-jigged an existing agreement with Hitachi’s consortium Agility Trains to make the £7.5bn trains it offered for the UK’s Intercity Express (IEP) scheme cheaper and simpler to run.Agility is already the preferred bidder on the deal, which will replace 40-year-old diesel trains on lines from London to Edinburgh and to Wales.But the previous Labour government reviewed the IEP project amid cost concerns and proposed changes.Ministers originally asked manufacturers to propose three types of train powered by electricity, diesel and a mix of both, allowing them to run on electrified and un-electrified lines.Under the revised scheme, Hitachi is thought to have offered a modified version of its original train, with some diesel-powered carriages and others using power from overhead lines.If Hitachi and Agility are confirmed as winners, it would be bad news for the UK’s last train builder Bombardier, which has 3,000 staff in Derby.The Canadian group bid for the contract with German firm Siemens and is understood to be the reserve bidder.The Department for Transport said it plans a rail announcement on Thursday, but declined to give details.A rail industry source said: “The supposition is it will be something on the proposed replacement for the high speed train and the suspicion is that it may involve Hitachi.” More From Our Partners Mark Eaton, former NBA All-Star, dead at 64nypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org Monday 22 November 2010 7:53 pm Sharelast_img read more