New headquarters for GBR

THE UK government has chosen Derby as the headquarters of Great British Railways (GBR) which will be responsible for the country’s trains, fares and timetables.

The announcement brings with it the prospect of more jobs and investment worth multi­millions after the city beat off competition from Birmingham, Crewe, Doncaster, Newcastle and York.

“This not only a huge win for the brilliant city of Derby, but a key milestone for the entire rail industry across the

Gap rises

ENERGY SUPPORT pushed up UK government borrowing last month to its highest level for February since records began in 1993. The gulf between spending and income from taxes rose to £16.7 billion (€18.9 billion), the Office for National Statistics (ONS) announced.

The ONS explained that this was largely due to this year’s outlay on energy schemes.

At the same time, the interest paid on government debt amounted to £6.9 billion (€7.8 billion) in February, £1.3 billion (€1.5 billion) less than in February 2022, owing to changes in the inflation rate that determines the interest the government pays on its debts.

country,” Transport Secretary Mark Harper said.

Derby has had one of the lowest concentrations of civil service jobs in the country until now, a statement from the city council said.

The move to Derby would not only bring key jobs but it also meant that the city ­ already the centre of one of Europe’s largest rail clusterswould play an even more important role in the future development of the railways, the statement continued. Derby’s rich rail heritage and innovation culture were prominent in the city’s bid, together with its rail­related industries that employ more than 11,000 people in the

Just Eat on a diet

JUST EAT, the takeaway delivery firm, will cut 1,870 UK jobs following reduced sales.

The company experienced a 9 per cent slowdown last year once Covid restrictions were relaxed and diners could return to pubs and restaurants.

As a result, the firm will no longer employ its own couriers, using contractors instead and triggering 1,700 job losses plus 170 operational roles. Drivers and riders affected by the cut­down have received six weeks’ notice.

Unlike Just Eat drivers, couriers were classed as company employees, receiving an hourly rate, an uncapped bonus and benefits that included sick pay.

“We propose to transition away from the worker model for couriers,” a spokeswoman said. “This is just a small part of our overall delivery operations in certain parts of six UK cities,” she added.

SPAIN’S banking sector is in an ‘immensely’ stronger position than it was in 2008.

Financial experts pointed out that owing to regulators’ demands that were made in the wake of the previous financial crisis, banks have had to create an anti­crisis safety net.

This has been designed to protect the economy during a hypothetical financial catastrophe and to rule out the need for a bailout that requires public money.

According to their results made public at the end of last year Spain’s six principal banks can count on an anti­crisis safety net of €213 billion, €43 billion more than required by the European Central Bank.

area, and where trains are still designed and built at the Alstrom works in the Litchurch district.

The first indication that Derby had been successful in its GBR bid arrived last February with the announcement of plans to start major regeneration in and around Derby’s railway station. Another giveaway was city council approval of a £500,000 (€567,145) loan to acquire Midland House and the adjoining car park close to Derby’s Midland Station.

Come and go

MARIO VAZ takes over Vodafone’s Spanish division at the end of March.

This coincides with the exit of the company’s Irish­born CEO, Colman Deegan, following a series of poor quarterly results.

Vaz has had a successful track record in Portugal, which has many points in common with the Spanish market. These include a fully­developed market that combines telephone and data communication within a single network and aggressive competition from the entry of new low­cost operators.

Vaz now faces the challenge of returning Vodafone España to increased earnings and profits, as it faces competition from budget operators like the increasingly­present Digi.