Jaime Dunkley the Evening Standards City correspondent has the latest business news.
A surprise move by the Department for Transport
Stagecoach and Sir Richard Branson’s Virgin has awarded contract to run trains between London and Scotland.
The line was nationalised in 2009 after its previous operator National Express handed it back, having racked up large losses on the route.
Other bidders First Group and a consortium led by Eurostar, which had been the favourite.
First Group has now lost out on five rail franchises this year
Stagecoach and Virgin will pay £3.3bn to operate the East Coast line over the course of the eight-year contract
Rise of the discount retailer continues
Poundland have reported it’s profits are up 12% to £9.3 million in six months ending in September, with plans to open 60 new stores in UK and Ireland
The retailer serves over five million customers served each week, including almost 250,000 in Ireland.
Thomas Cook Chief Exec takes off
Thomas Cook shares fell 20% yesterday after the self proclaimed ‘lander’ - a mix of a lion and a panda, Harriet Green, parted ways with company.
The City expects the turnaround specialist will take on a new company soon.