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View offers Hi {{fullName}} * My Independent Premium * Account details * Help centre * Logout (BUTTON) News > Business > Business News Close They were commissioned to design and build a 50-mile section of the high speed railway roughly between Aylesbury and Royal Leamington Spa Carillion's collapse threatens HS2 and other major transport infrastructure projects across the UK Company is one of around six main contractors for Network Rail, which owns and operates Britain's railway infrastructure * Neil Lancefield * Monday 15 January 2018 14:08 {{^moreThanTen}} * {{total}} comments {{/moreThanTen}} * Carillion was handed a series of contracts to carry out major transport infrastructure projects before its collapse. The construction giant is in a partnership which won two HS2 deals worth £1.34bn. It was commissioned to design and build a 50-mile section of the high speed railway roughly between Aylesbury and Royal Leamington Spa. Download the new Indpendent Premium app Sharing the full story, not just the headlines (BUTTON) Download now :: Follow the latest updates and reaction to the collapse of Carillion :: Watch more * Government and unions react as Carillion goes bust The contracts were awarded in July 2017, when Carillion was already in financial difficulty. Carillion and the two other firms in the joint venture - Eiffage and Kier - were forced to give assurances that they could step in to deliver on the work if one of the partners collapsed. A HS2 spokesman described Carillon going into liquidation as “clearly disappointing for them and the wider UK construction industry”. He went on: “We are continuing to discuss with Kier and Eiffage the implementation of contingency plans. Read more * Carillion collapse: Will bosses, auditors pay a price? * This is how one of the Government’s biggest contractors went bust * Carillion shows what is really happening to our public services * Ministers under pressure over taxpayer bill after Carillion collapse * Government and unions react as Carillion goes bust * Carillion's liquidation statement in full “Work will continue as planned with no unnecessary or additional exposure to the taxpayer.” The firms are still in the design phase of the deal, with detailed proposals due to be submitted by the end of the year. Phase one of the £55.7bn railway will run between London and Birmingham from December 2026, with a second Y-shaped phase extending to the North. Carillion are one of around six main contractors for Network Rail, which owns and operates Britain's railway infrastructure. It is mostly involved in bridge replacements and track renewal, with contracts worth in total around £150m to £200m. A Network Rail spokeswoman said: “Network Rail is activating its contingency plans as a result of this unfortunate news. Independent news email Only the best news in your inbox ____________________ Enter your email address (BUTTON) Continue (BUTTON) Continue Please enter an email address Email address is invalid Fill out this field Email address is invalid Email already exists. Log in to update your newsletter preferences Register with your social account or click here to log in receiveIndyHeadlines [ ] I would like to receive morning headlines Monday - Friday plus breaking news alerts by email Update newsletter preferences “Passengers can be reassured that their services will be running as normal today as Carillion's work for Network Rail does not involve the day-to-day running of the railway.” Created with Sketch. Business news: In pictures Show all 12 Created with Sketch. Created with Sketch. (BUTTON) Created with Sketch. Business news: In pictures 1/12 Future product placement will be 'tailored to individual viewers' Marketing executives say that product placement in films and televison shows on streaming services such as Netflix may be tailored to individuals in future. For instance, if data shows that a viewer is a fan of pepsi, a billboard in the background of a shot would host an advert for pepsi, while for a viewer known to have different tastes it could be for Coca-Cola Paramount 2/12 Corbyn wishes Amazon a happy birthday In a card sent to Amazon CEO Jeff Bezos on the company's 25th birthday, Labour leader Jeremy Corbyn writes: "You owe the British people millions in taxes that pay for the public services that we all rely on. Please pay your fair share" 3/12 No deal, no tariffs The government has announced that it would slash almost all tariffs in the event of a no-deal Brexit. Notable exceptions include cars and meat, which will see tariffs in place to protect British farmers Getty 4/12 Fingerprint payment NatWest is trialling a new bank card that will allow people to touch their hand to the card when paying rather than typing in a PIN number. The card will work by recognising the user's fingerprint NatWest/PA Wire 5/12 Mahabis bust High-end slipper retailer Mahabis has gone into administration. 2 Jan 2019 Mahabis 6/12 Costa Cola Coca-Cola has paid £3.9bn for Costa Coffee. A cafe chain is a new venture for the global soft drinks giant PA 7/12 RIP Payday Loans A funeral procession for payday loans was held in London on September 2. The future of pay day lenders is in doubt after Wonga, Britain's biggest, went into administration on August 30 PA 8/12 Musk irks investors and directors Elon Musk has concluded that Tesla will remain public. Investors and company directors were angry at Musk for tweeting unexpectedly that he was considering taking Tesla private and share prices had taken a tumble in the following weeks Getty 9/12 Jaguar warning Iconic British car maker Jaguar Land Rover warned on July 5, 2018 that a "bad" Brexit deal could jeopardise planned investment of more than $100 billion, upping corporate pressure as the government heads into crucial talks AFP/Getty 10/12 Spotif-IPO Spotify traded publically for the first time on the New York Stock Exchange on Tuesday. However, the company isn't issuing shares, but rather, shares held by Spotify's private investors will be sold AFP/Getty 11/12 French blue passports The deadline to award a contract to make blue British passports after Brexit has been extended by two weeks following a request by bidder De La Rue. The move comes after anger at the announcement British passports would be produced by Franco-Dutch firm Gemalto when De La Rue’s contract ends in July. The British firm said Gemalto was chosen only because it undercut the competition, but the UK company also admitted that it was not the cheapest choice in the tendering process. 12/12 Beast from the east economic impact The Beast from the East wiped £4m off of Flybe’s revenues due to flight cancellations, airport closures and delays, according to the budget airline’s estimates. Flybe said it cancelled 994 flights in the three months to 31 March, compared to 372 in the same period last year. 1/12 Future product placement will be 'tailored to individual viewers' Marketing executives say that product placement in films and televison shows on streaming services such as Netflix may be tailored to individuals in future. For instance, if data shows that a viewer is a fan of pepsi, a billboard in the background of a shot would host an advert for pepsi, while for a viewer known to have different tastes it could be for Coca-Cola Paramount 2/12 Corbyn wishes Amazon a happy birthday In a card sent to Amazon CEO Jeff Bezos on the company's 25th birthday, Labour leader Jeremy Corbyn writes: "You owe the British people millions in taxes that pay for the public services that we all rely on. Please pay your fair share" 3/12 No deal, no tariffs The government has announced that it would slash almost all tariffs in the event of a no-deal Brexit. Notable exceptions include cars and meat, which will see tariffs in place to protect British farmers Getty 4/12 Fingerprint payment NatWest is trialling a new bank card that will allow people to touch their hand to the card when paying rather than typing in a PIN number. The card will work by recognising the user's fingerprint NatWest/PA Wire 5/12 Mahabis bust High-end slipper retailer Mahabis has gone into administration. 2 Jan 2019 Mahabis 6/12 Costa Cola Coca-Cola has paid £3.9bn for Costa Coffee. A cafe chain is a new venture for the global soft drinks giant PA 7/12 RIP Payday Loans A funeral procession for payday loans was held in London on September 2. The future of pay day lenders is in doubt after Wonga, Britain's biggest, went into administration on August 30 PA 8/12 Musk irks investors and directors Elon Musk has concluded that Tesla will remain public. Investors and company directors were angry at Musk for tweeting unexpectedly that he was considering taking Tesla private and share prices had taken a tumble in the following weeks Getty 9/12 Jaguar warning Iconic British car maker Jaguar Land Rover warned on July 5, 2018 that a "bad" Brexit deal could jeopardise planned investment of more than $100 billion, upping corporate pressure as the government heads into crucial talks AFP/Getty 10/12 Spotif-IPO Spotify traded publically for the first time on the New York Stock Exchange on Tuesday. However, the company isn't issuing shares, but rather, shares held by Spotify's private investors will be sold AFP/Getty 11/12 French blue passports The deadline to award a contract to make blue British passports after Brexit has been extended by two weeks following a request by bidder De La Rue. The move comes after anger at the announcement British passports would be produced by Franco-Dutch firm Gemalto when De La Rue’s contract ends in July. The British firm said Gemalto was chosen only because it undercut the competition, but the UK company also admitted that it was not the cheapest choice in the tendering process. 12/12 Beast from the east economic impact The Beast from the East wiped £4m off of Flybe’s revenues due to flight cancellations, airport closures and delays, according to the budget airline’s estimates. Flybe said it cancelled 994 flights in the three months to 31 March, compared to 372 in the same period last year. Network Rail pledged to work with the administrators and Carillion's management to ensure the firm's collapse “has as little impact as possible on our projects”. In November 2014 Carillion was one of five companies handed deals to carry out “high value construction work” for Highways England's £5bn five-year investment in England's motorways and major A roads. It holds a major role in the smart motorway project, through which the hard shoulder is converted to a live traffic lane. Carillion's website also states that it is “delivering transformative pieces of infrastructure” on the road network in Scotland and Wales. 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