Infrastructure boom lifts Balfour Beatty, Kier Group and Costain March 14, 2025 London-listed construction firms Balfour Beatty, Kier Group, and Costain, have all reported robust results this week as the UK’s increasing prioritisation of major infrastructure projects starts to life the sector. Their combined order books now exceed more than £30bn and shareholders stand to benefit. All three of the companies hiked their dividends and shareholder returns alongside their [...]
Exclusive: HS2 should not re-negotiate contracts, says Balfour Beatty boss March 13, 2025 A scathing report from the Public Accounts Committee (PAC) last month concluded HS2 Ltd's contracts were "unacceptable to the public purse" and that it was "imperative" the project delivered on its assurances to re-negotiate them.
MIPIM: Sadiq Khan hails ‘perfect time’ to invest in London March 11, 2025 Sadiq Khan has said London’s “weather has changed” as he flew the flag for the capital at a major property conference in France. The mayor of London attended Europe’s biggest real estate trade show – Le Marché international des professionnels de l’immobilier, or MIPIM – in Cannes for the first time, just two weeks after [...]
Planning bill will ‘avoid bat tunnels’, housing minister claims March 11, 2025 The government hopes its planning reforms will “avoid bat tunnels”, the housing minister has said. It comes as Labour unveiled major changes to the UK’s planning permissions system – as part of the Planning and Infrastructure Bill – with measures to overhaul how developers meet environmental obligations, replacing site-specific schemes with a general fund. Speaking [...]
Balfour Beatty shares slump as veteran chief Leo Quinn steps down March 5, 2025 Shares in Balfour Beatty slumped on Wednesday after veteran chief executive Leo Quinn announced plans to step down. Quinn departs following a more than 10-year stint leading the UK’s biggest contractor, during which time he significantly reduced debt and put the company on the path to profitable growth. Shares fell more than four per cent [...]
HS2 is beyond saving and poses risk to UK’s reputation, MPs conclude February 28, 2025 HS2 is beyond saving and must be studied by future governments as a “cautionary tale” on how “not to run a major project,” a cross-party group of MPs has concluded. In one of its most damming-ever reports, the Public Accounts Committee (PAC) said it was “long past the point” of offering recommendations on how to [...]
HS2 pushed government to keep ‘unjust’ compensation rules for ousted locals February 12, 2025 Bosses at HS2 pushed the government to keep an obscure law that enabled it to pay millions less in compensation to residents and businesses forced from their homes during construction, Morning Wire can reveal. Internal documents obtained via FOI show how HS2 understood the arcane clause would cause “significant distress” and destroy jobs and livelihoods, [...]
HS2: Key Euston contract faces foul play allegations February 3, 2025 Construction giant Lendlease is leading the £4bn regeneration of Euston but is in the process of exiting its international operations.
Government too involved in HS2, warns top infrastructure adviser January 15, 2025 Too much government involvement in HS2 has hampered delivery and fuelled massive cost overruns and delays, according to a key infrastructure adviser. Sir John Armitt, chair of the National Infrastructure Commission, told MPs he had “never been convinced by the governance structure of HS2,” having been influenced by his own experience delivering the infrastructure for [...]
Auditor says EDF should push back decision on Sizewell C investment January 14, 2025 EDF should not make a final investment decision on the Sizewell C nuclear project until it has reduced exposure to its sister development, Hinkley Point C, according to France’s state auditor. In comments published on Tuesday, the Cour des comptes also said the French nuclear company should not take on new nuclear developments at home [...]