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East Coast train line to be put into public control

East Coast train line to be put into public control

Business
Media playback is unsupported on your device Rail services on the East Coast Main Line are being brought back under government control, following the failure of the current franchise.Operators Stagecoach and Virgin Trains will hand over control from 24 June.The Department for Transport will run the service until a new public-private partnership can be appointed in 2020.Transport Secretary Chris Grayling said it would smooth the transition to a new operator, but critics said it was evidence of private sector failure.Mr Grayling said the franchise had failed because Stagecoach and Virgin Trains had "got their bid wrong", overestimating the profitability of the line.It is the third time in a just over a decade that the government has called a hal...
These 8 gig jobs could boost your bottom line in retirement

These 8 gig jobs could boost your bottom line in retirement

Finance
Ella Tyler found a few surprises in retirement that led her to return to the work force.But like many retirees, the work she's doing now in no way resembles what she used to do in her professional career.Tyler, 67, had quit practicing law when she moved to Texas after she got married. But then her husband died. And after Tyler remodelled her house, she realized she needed more money.That prompted Tyler to look for jobs to pick up extra work.She noticed an ad for tutors for the Law School Admissions Test with Varsity Tutors, an online education platform. Now, Tyler keeps busy teaching classes for the LSAT exam, as well as English as a second language and business writing, for up to $ 27 per hour. The extra money, plus the ability to still use her professional skills, has given Tyler new con...
OMV next in line to tap U.A.E. offshore

OMV next in line to tap U.A.E. offshore

Business
April 6 (UPI) -- Austrian energy company OMV said it became the latest in a growing list of foreign companies wading into oil fields off the coast of Abu Dhabi.The Austrian company said it acquired a 20 percent working interest in the offshore Satah al-Razboot complex, which includes satellite fields Bin Nasher and al-Bateel, and Umm Lulu. The deal with Abu Dhabi National Oil Co. included infrastructure associated with the fields for a combined price of $ 1.5 billion.ADNOC had no comment on the deal. In an outline of its ambitions, the company said it can produce as much as 1.4 million barrels of oil per day offshore, about 40 percent of its total capacity.ADNOC so far this year has signed agreements with Asian energy companies, Italian major Eni and French supermajor Total.The United Arab...
Tesla boss in line for mega-pay deal

Tesla boss in line for mega-pay deal

Business
Electric carmaker Tesla, facing pressure on a number of fronts, is asking shareholders for a show of support for chief executive Elon Musk.The firm has called a special meeting this month for investors to vote on a 10-year compensation plan for Mr Musk.Under the plan, Mr Musk could receive stock awards worth an estimated $ 2.6bn - among the largest in US history. The grants would only be distributed if the firm, which has made consistent losses, hits certain milestones.Major holders of Tesla stock, including investment firms Baillie Gifford and T Rowe Price, have said they intend to support the pay plan, providing a vote of confidence. But shareholder advisory groups have cautioned against the proposal, saying it is too generous.The vote comes as Tesla confronts several years of mounting q...
Ocean mappers line up for XPRIZE final

Ocean mappers line up for XPRIZE final

Science
The $ 7m XPRIZE competition to find the innovative technologies that can map the world's oceans in rapid time has named its nine finalists. The teams draw on talents from many nations, with strong interest in the US and Europe, including from the UK. A technology assessment carried out by the Los Angeles-based XPRIZE Foundation late last year whittled the contenders down from an initial pool of 19. The finalists will now have to demonstrate their tech in 4km of water. They will be invited to do this in turn in October or November. The precise location has yet to be revealed. "The teams will go to 4,000m depth where they will have 24 hours to map at least 250 sq km at 5m, or higher, horizontal resolution," Dr Jyotika Virmani, prize lead and senior director of Planet and Environment at XPRIZ...