TfL says it is unable to predict when Mayor Johnson’s flagship Cycle Hire scheme will become self-funding.
Assembly Members question Boris and Policing Deputy over Barclays’ interest rate fixing
Boris Johnson’s Deputy Mayor for Policing has been asked to confirm whether the Met Police will launch an investigation in Barclays’ manipulation of the Libor interest rate. Yesterday it emerged the bank has been fined £290m by U.K. and U.S. regulators for trying to rig interest rates in their favour. The U.K. Financial Services Authority […]
TfL must renegotiate its contact with Barclays
“There are also risks to TfL’s reputation if the branding of public assets is deemed to be excessive, from choosing inappropriate sponsors, or if sponsors suffer major reputational damage.” So warned the London Assembly in it’s February 2012 report Whose brand is it anyway? – An Examination of TfL’s Sponsorship Policy. Assembly Members reported that […]
‘Boris Bike’ sponsors Barclays fined for interest rate rigging
Barclays Bank, sponsors of the Mayor’s flagship cycle hire scheme, have been fined £290m for trying to rig interest rates. The fines have been imposed by the U.K. Financial Services Authority and U.S. Commodity Futures Trading Commission. Announcing its imposition of a £59.5m fine, the FSA says Barclays’ misconduct included: making submissions which formed part […]
Cycle Hire funding: TfL says “nothing” yet received from Westfield
MayorWatch reader Lawrence Weetman has forwarded me Transport for London’s response to an FOI request he made about the cycle hire scheme’s funding. The response, dated March 23rd, contains what seems to be a significant new piece of information, namely that “nothing has been received to date” from Westfield for the scheme’s expansion to its […]
