Britain plans to sell its 40 percent stake in Channel Tunnel express train operator Eurostar Group Ltd. as it seeks to improve transport links and raise billions of pounds from asset disposals after paring state spending.
New York Attorney General Andrew Cuomo asked a judge to rule without trial that Ezra Merkin and his Gabriel Capital Corp. engaged in fraud by secretly placing client funds with swindler Bernard Madoff.
Eurostar Group Ltd., the operator of high-speed trains through the Channel Tunnel, won conditional approval from the European Union to adopt a single-company structure aimed at helping it compete with new market entrants.
Eurostar Group Ltd., the operator of high-speed trains through the Channel Tunnel, will spend 700 million pounds ($1.1 billion) to buy 10 new expresses and add routes in a bid to fend off competition from Deutsche Bahn AG .
Channel Tunnel operator Groupe Eurotunnel SA said Deutsche Bahn AG’s plan to run trains to the U.K. via the subsea link has pushed Eurostar Group Ltd. to boost services and will prompt a step-change in passenger numbers.
Nicolas Petrovic , Eurostar Group Ltd.’s chief executive officer, said the train operator will focus on how it deals with stranded passengers to avoid a repeat of the chaos that followed last month’s heavy snowfall.