Tube passengers will have to endure cramped conditions at some of London’s busiest stations after the discovery of a £400m funding hole forced the postponement of vital upgrade work yesterday… .
The London Underground funding gap, which already stood at an estimated £5bn, has widened further after a new shortfall of £400m was revealed and forced a last minute revision to the capital’s transport budget - The Guardian
French bosses were given a fresh reminder of the dangers facing them during the economic downturn yesterday as angry factory workers in Grenoble barricaded their offices and took four managers hostage. Protesting against job losses and meagre redundancy payouts, local employees of the US firm Caterpillar decided to take matters into their own hands and locked their superiors inside the plant’s management headquarters - The Guardian
Paris celebrated the 120th birthday of its “Iron Lady” yesterday treating the Eiffel Tower to a facelift a century after it was supposed to have been dismantled. A team of 25 steeplejack painters from the poorer fringes of Europe clambered to the top and started brushing on 60 tonnes of semi-gloss, the 17th coat it has received since its opening on March 31, 1889 - The Times
The prospect of competing high-speed train services running through the Channel tunnel was raised on Tuesday when it was revealed talks had taken place with Germany’s Deutsche Bahn and Air France. London & Continental Railways, which owns the £5.8bn High Speed One rail line between London and the Channel tunnel, said discussions would remain informal until it was able to set up a formal procedure to allow new operators to use the route - The Financial Times
Jarvis has axed 450 jobs and warned on profits citing a cutback in business with Network Rail and a downturn in the freight container market. The rail maintenance group said business had declined further in the three months to March 31 and operating profits for the year were now expected to miss previous forecasts. Debt and operating costs would also be lower than expected, it added - The Financial Times