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Railtrack
Railtrack was a group of companies that owned the track, signalling, tunnels, bridges, level crossings and all but a handful of the stations of the British railway system from 1994 until 2002. It was created as part of the privatisation of British Rail, listed on the London Stock Exchange, and was a constituent of the FTSE 100 Index. In 2002, after experiencing major financial difficulty, most of Railtrack's operations were transferred to the state-controlled non-profit company Network Rail. The remainder of Railtrack was renamed RT Group plc and eventually dissolved on 22 June 2010. History Background and founding During the early 1990s, the Conservative Party decided to pursue the privatisation of Britain's nationalised railway operator British Rail. A white paper released in July 1992 had called for a publicly-owned company to be primarily responsible for the railway infrastructure, including the tracks, signalling, and stations, while train operations would be f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Network Rail
Network Rail Limited is the owner (via its subsidiary Network Rail Infrastructure Limited, which was known as Railtrack plc before 2002) and infrastructure manager of most of the railway network in Great Britain. Network Rail is an "arm's length" public body of the Department for Transport with no shareholders, which reinvests its income in the railways. Network Rail's main customers are the private train operating companies (TOCs), responsible for passenger transport, and freight operating companies (FOCs), who provide train services on the infrastructure that the company owns and maintains. Since 1 September 2014, Network Rail has been classified as a "public sector body". To cope with fast-increasing passenger numbers, () Network Rail has been undertaking a £38 billion programme of upgrades to the network, including Crossrail, electrification of lines and upgrading Thameslink. In May 2021, the Government announced its intent to replace Network Rail in 2023 with a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Privatisation Of British Rail
The privatisation of British Rail was the process by which ownership and operation of the railways of Great Britain passed from government control into private hands. Begun in 1994, it had been completed by 1997. The deregulation of the industry was initiated by EU Directive 91/440 in 1991, which aimed to create a more efficient rail network by creating greater competition. British Railways (BR) had been in state ownership since 1948, under the control of the British Railways Board (BRB). Under the Conservative government of Margaret Thatcher elected in 1979, various state-owned businesses were sold off, including various functions related to the railways – Sealink ferries and British Transport Hotels by 1984, Travellers Fare catering by 1988 and British Rail Engineering Limited (train building) by 1989. It was under Thatcher's successor John Major that the railways themselves were privatised, using the Railways Act 1993. The operations of the BRB were broken up and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gerald Corbett
Gerald Michael Nolan Corbett DL (born 7 September 1951) is a businessman who was the chairman of the Marylebone Cricket Club (MCC). A businessman, over a long career he has been a director of thirteen public companies, seven of which he has chaired. He is currently chairman of Segro plc, the FTSE 100 international industrial property logistics group. He chaired Britvic plc for 12 years until September 2017. Britvic plc is the international soft drink company whose brands include Robinsons squash, J2O, Tango, Fruit Shoot, Ballygowan water and is also a bottler for PepsiCo. As chairman he led the flotation of Britvic in 2005. He was chairman of Betfair plc between 2012-16 when Betfair merged with Paddy Power plc to create Paddy Power Betfair. He was chairman of Moneysupermarket.com plc between 2007 when he led the floatation until April 2014. He chaired Towry, the wealth advisory business between 2012 and 2014 and was a non-executive director of Numis plc, the stockbroking a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
British Rail
British Railways (BR), which from 1965 traded as British Rail, was a state-owned company that operated most of the overground rail transport in Great Britain from 1948 to 1997. It was formed from the nationalisation of the Big Four (British railway companies), Big Four British railway companies, and was privatisation of British Rail, privatised in stages between 1994 and 1997. Originally a trading brand of the Railway Executive of the British Transport Commission, it became an independent statutory corporation in January 1963, when it was formally renamed the British Railways Board. The period of nationalisation saw sweeping changes in the railway. A process of dieselisation and Railway electrification in Great Britain, electrification took place, and by 1968 steam locomotives had been entirely replaced by diesel and electric traction, except for the Vale of Rheidol Railway (a narrow-gauge railway, narrow-gauge tourist line). Passenger train, Passengers replaced freight train, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Passenger Rail Franchising In Great Britain
Passenger rail franchising in Great Britain is the system of contracting the operation of the passenger services on the railways of Great Britain to private companies, which has been in effect since 1996 and was greatly altered in 2020, with rail franchising being effectively abolished in May 2021. The system was created as part of the privatisation of British Rail, the former state-owned railway operator, and involved franchises being awarded by the government to train operating companies (TOCs) through a process of competitive tendering. Franchises usually lasted for a minimum of seven years and covered a defined geographic area or service type; by design, franchises were not awarded on an exclusive basis, and day-to-day competition with other franchises and open access operators was possible, albeit occurring on a limited number of services. Over the years, the system evolved, most notably reducing the initial 25 franchises to 17 through a series of mergers. Four franchises ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
FTSE 100 Index
The Financial Times Stock Exchange 100 Index, also called the FTSE 100 Index, FTSE 100, FTSE, or, informally, the "Footsie" , is a share index of the 100 companies listed on the London Stock Exchange with (in principle) the highest market capitalisation. The index is maintained by the FTSE Group, a subsidiary of the London Stock Exchange Group. Overview The index is maintained by the FTSE Group, now a wholly owned subsidiary of the London Stock Exchange, which originated as a joint venture between the ''Financial Times'' and the London Stock Exchange. It is calculated in real time and published every second when the market is open. The FTSE 100 Index was launched on 3 January 1984. The market capitalisation weighted FTSE 100 index replaced the price-weighted FT30 Index as the performance benchmark for most investors. The FTSE 100 broadly consists of the largest 100 qualifying UK companies by full market value. The total market value of a company is calculated by multi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Robert Horton (businessman)
Sir Robert Horton (18 August 1939 – 30 December 2011) was a British businessman. He was a director of the European Advisory Council and of Emerson Electric Company.''Who's Who 2008'' p.1123. He spent 30 years working for BP, formerly British Petroleum. He became Chief Executive and Chairman of the Board of BP in March 1990, but was forced out in 1992. Early life and education Sir Robert was the son of William Harold Horton and Dorothy Joan Horton née Baynes. He was educated at King's School, Canterbury, University College, Dundee, then part of the University of St Andrews, but now the University of Dundee, and graduated the MIT Sloan School of Management as a Sloan Fellows in 1971. He was chairman of the Tate Gallery Foundation 1988-92 and Business in the Arts 1988-96. He was a Fellow of The Royal Society of Arts. He was chancellor of the University of Kent from 1990 to 1995, and a portrait of him hangs in the Senate Building there. He was also a Governor of King's Scho ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nationalisation
Nationalization (nationalisation in British English) is the process of transforming privately-owned assets into public assets by bringing them under the public ownership of a national government or state. Nationalization usually refers to private assets or to assets owned by lower levels of government (such as municipalities) being transferred to the state. Nationalization contrasts with privatization and with demutualization. When previously nationalized assets are privatized and subsequently returned to public ownership at a later stage, they are said to have undergone renationalization. Industries often subject to nationalization include the commanding heights of the economy – telecommunications, electric power, fossil fuels, railways, airlines, iron ore, media, postal services, banks, and water – though, in many jurisdictions, many such entities have no history of private ownership. Nationalization may occur with or without financial compensation to the former ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
White Paper
A white paper is a report or guide that informs readers concisely about a complex issue and presents the issuing body's philosophy on the matter. It is meant to help readers understand an issue, solve a problem, or make a decision. A white paper is the first document researchers should read to better understand a core concept or idea. The term originated in the 1920s to mean a type of position paper or industry report published by some department of the UK government. Since the 1990s, this type of document has proliferated in business. Today, a business-to-business (B2B) white paper is closer to a marketing presentation, a form of content meant to persuade customers and partners and promote a certain product or viewpoint. That makes B2B white papers a type of grey literature. In government The term ''white paper'' originated with the British government and many point to the Churchill White Paper of 1922 as the earliest well-known example under this name. Gertrude Bell, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Her Majesty's Stationery Office
The Office of Public Sector Information (OPSI) is the body responsible for the operation of His Majesty's Stationery Office (HMSO) and of other public information services of the United Kingdom. The OPSI is part of the National Archives of the United Kingdom and is responsible for Crown copyright. The OPSI announced on 21 June 2006 that it was merging with the National Archives. The merger took place in October 2006. The OPSI continues to discharge its roles and responsibilities from within the structure of the National Archives. Controller of HMSO and Director of OPSI The Controller of HMSO is also the Director of OPSI. HMSO continues to operate from within the expanded remit of OPSI. The Controller of HMSO also holds the offices of Kings's Printer of Acts of Parliament, King's Printer for Scotland and Government Printer for Northern Ireland. By virtue of holding these offices OPSI publishes, through HMSO, the ''London Gazette'', ''Edinburgh Gazette'', ''Belfast Gazette'' a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Company
A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange ( listed company), which facilitates the trade of shares, or not (unlisted public company). In some jurisdictions, public companies over a certain size must be listed on an exchange. In most cases, public companies are ''private'' enterprises in the ''private'' sector, and "public" emphasizes their reporting and trading on the public markets. Public companies are formed within the legal systems of particular states, and therefore have associations and formal designations which are distinct and separate in the polity in which they reside. In the United States, for example, a public company is usually a type of corporation (though a corporation need not be a public company), in the United Kingdom it is usually a public limited company (plc), ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chancellor Of The Exchequer
The chancellor of the Exchequer, often abbreviated to chancellor, is a senior minister of the Crown within the Government of the United Kingdom, and head of HM Treasury, His Majesty's Treasury. As one of the four Great Offices of State, the Chancellor is a high-ranking member of the Cabinet of the United Kingdom, British Cabinet. Responsible for all economic and financial matters, the role is equivalent to that of a finance minister in other countries. The chancellor is now always Second Lord of the Treasury as one of at least six Lords Commissioners of the Treasury, lords commissioners of the Treasury, responsible for executing the office of the Treasurer of the Exchequer the others are the prime minister and Commons government whips. In the 18th and early 19th centuries, it was common for the prime minister also to serve as Chancellor of the Exchequer if he sat in the Commons; the last Chancellor who was simultaneously prime minister and Chancellor of the Exchequer was Stanle ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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