Stagecoach takes over island's bus services
The firm in September 2024 secured a five-year tender to take over from previous island operator CT Plus.
Environment and Infrastructure Committee Vice-President Deputy Adrian Gabriel said he was expecting a "smooth transition" in the coming weeks with new buses also in the pipeline.
He said there was "strength in using a national provider" with experience operating in rural communities "similar to that of Guernsey".
Stagecoach will take on most of the staff from CT Plus, which had run the service since 2012.
Gabriel said there would be no change to the livery of the existing buses, and talks were being finalised to bring a number of new States-owned buses.
Two Stagecoach-branded buses will also join the fleet from this week to ensure services run at capacity.
A new buses.gg website, Facebook page and app had previously been announced.
Stagecoach is set to run the service for the next five years, after which it can opt to continue for a further two years.
Where recruiting drivers has been in issue in the past, Gabriel said he was confident Stagecoach had the experience to address any future staffing challenges.
"They have drivers and contingency measures in the UK to draw on," he said.
The States said there would be no immediate changes to bus routes or fares as part of the new contract.
Any credit or time remaining on existing Puffinpasses will also be carried forward to use on the new services.
Follow BBC Guernsey on X and Facebook. Send your story ideas to channel.islands@bbc.co.uk.
New website for buses when operator changes
Guernsey bus prices rise by up to 15%
States of Guernsey
Stagecoach
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
21 minutes ago
- Yahoo
YPF turnover ruling casts shadow over Argentina shale hopes, FX
By Eliana Raszewski, Leila Miller and Jorge Otaola BUENOS AIRES (Reuters) -A dramatic ruling by a U.S. court ordering Argentina to hand over the 51% stake it holds in state energy firm YPF has cast a shadow over the country's plans for its huge Vaca Muerta shale formation and hopes to return to global markets. U.S. District Judge Loretta Preska said on Monday that Argentina must transfer its YPF shares within 14 days to partially satisfy an earlier $16.1 billion court judgment against the country over its 2012 nationalization of the firm. The government of pro-market libertarian Javier Milei said it would appeal the ruling to "defend national interests." The judgment adds uncertainty to Argentina's plans to turn Vaca Muerta, the world's No. 2 shale gas reserve and No. 4 for shale oil, into a key global energy producing region that would help bring in foreign currency needed to prop up the economy. YPF leads development of Vaca Muerta, often partnering with other local and international firms including Shell and Chevron. Vaca Muerta has hit production of over 400,000 barrels per day of oil and some 70 million cubic meters of gas per day. "Control of YPF is important for Milei; that's why an appeal is the only option for him," said Marcelo García, director for the Americas at New York-based risk consultancy Horizon Engage. "YPF leadership in Vaca Muerta is crucial for the medium- to long-term sustainability of his economic program, because it should bring the U.S. dollars the economy lacks." The legal dispute arose from Argentina's 2012 seizure of the 51% YPF stake held by Spain's Repsol, without tendering for shares held by minority investors Petersen Energia Inversora and Eton Park Capital Management. In 2023, Preska awarded $14.4 billion to Petersen and $1.7 billion to Eton Park in the same case, which Argentina is also appealing. The plaintiffs are represented by litigation funder Burford Capital, which expects to receive some 35% and 73% of Petersen's and Eton Park's respective damages. The legal ruling could also dent Argentina's ability to tap global markets, something the country is keen to do to bolster its depleted reserves after years of currency crises, regular fiscal deficits draining state coffers and high inflation. "These unresolved disputes could hinder, or even block, Argentina's return to the international capital markets," BancTrust & Co said in a note on Tuesday. García added that surrendering the shares in YPF would constitutionally need the approval of Argentina's Congress, which was unlikely to happen, adding a more realistic outcome was that it would force Milei to negotiate. "Surrendering YPF is politically not viable in Argentina today. But the ruling does force the administration to the negotiating table and gets Milei's attention on the case." Argentina's government must urgently build up foreign currency reserves to pay its debts and meet targets as part of a $20 billion loan program agreed with the International Monetary Fund in April, the indebted country's 23rd IMF program. YPF's U.S.-listed shares slumped more than 5% on Monday, while Burford's stock price jumped. Both steadied on Tuesday. YPF's current market capitalization is around $12.5 billion. (Reporting Eliana Raszewski, Leila Miller and Jorge Otaola; Writing by Adam Jourdan; Editing by Marguerita Choy)
CNBC
22 minutes ago
- CNBC
Stocks making the biggest moves midday: Tesla, Tandem Diabetes, GE Vernova, Hasbro & more
Check out the companies making the biggest moves midday: Diabetes tech stocks — The Centers for Medicare & Medicaid Services is proposing a rule change that could change the reimbursement rates for continuous glucose monitors and insulin pumps. The news sent shares of diabetes tech stocks lower. Tandem Diabetes Care and Beta Bionics tumbled 4% and 6%, respectively, while Dexcom shares shed nearly 4%. Insulet shares were also down 4%. Progress Software — The business application software maker tumbled 11% after reporting mixed second-quarter results. Revenue came in at $237.4 million, shy of the $237.5 million consensus estimate, per FactSet. Its adjusted earnings were $1.40 per share, above the $1.30 a share expected from analysts. GE Vernova — The energy equipment maker's stock fell 7% on the heels of a report that the company was considering a potential sale of Proficy, its industrial software business. GE Vernova is working with financial advisors and reaching out to publicly traded companies and private equity firms, Bloomberg reported , citing people familiar with the matter. Tesla — The electric vehicle maker lost 5% after President Donald Trump suggested that the U.S. Department of Government Efficiency look at subsidies for Tesla CEO Elon Musk 's companies for potential cost-cutting measures. Trump's comments came after Musk again criticized the president's tax-and-spending bill . AeroVironment — Shares dropped nearly 8% after the defense contractor announced proposed offerings of $750 million in common stock and $600 million in convertible senior notes due 2030. Hasbro — The toymaker added 5% following an upgrade to buy from neutral at Goldman Sachs. The bank said that new sets from Magic: The Gathering could help boost Hasbro's sales. Kontoor Brands — Shares jumped 7% after Goldman Sachs added the apparel company to its conviction list. Goldman said Kontoor's acquisition of Helly Hansen should boost the Wrangler parent's portfolio. Hyatt Hotels — The stock gained almost 5% after Raymond James upgraded the hotel chain to a strong buy from market perform. As a catalyst for the upgrade, the bank pointed to Hyatt's Monday announcement that it had entered an agreement to sell the entirety of its Playa-owned real estate , removing a "significant overhang." Wynn Resorts , Las Vegas Sands — Casino stocks rallied after Macau reported strong gaming demand, with gross gaming revenues jumping 19% on a year-over-year basis to 21.06 billion patacas. Following the release of the data, Stifel analyst Steven M. Wieczynski said: "We continue to believe Macau-centric stocks present investors with an interesting way to play the China recovery story that should eventually play out. While the exact recovery timeline around Macau remains an unknown (for several reasons), we continue to believe in the long-term resiliency of the market and believe it's a matter of when, not if, the market returns to normal/accelerated levels." Shares of Wynn Resorts and Las Vegas Sands both rose 8%. Sweetgreen — Shares slid 3% after TD Cowen downgraded Sweetgreen to hold from buy. The firm said it likes Sweetgreen's long-term prospects but said there are risks to the salad chain this year and next given rising competition in urban areas. Joby Aviation — Shares of the electric aviation company dropped 8%, giving back most of Monday's advance. The stock rallied more than 11% in the previous session after the company delivered its first flying taxi to the United Arab Emirates ahead of a planned 2026 service launch. Bloomin' Brands — The parent company of Outback Steakhouse and Carrabba's Italian Grill rallied 16%. Bloomin' Brands was coming off a six-day losing streak. Circle Internet Group — The stablecoin issuer added nearly 1% after submitting a bank charter application to the Office of the Comptroller of the Currency. If the bank charter is granted, Circle plans to establish the First National Digital Currency Bank and offer blockchain-related custody services. — CNBC's Sarah Min, Michelle Fox, Christina Cheddar-Berk and Alex Harring contributed reporting.
Yahoo
28 minutes ago
- Yahoo
Grammarly to acquire email startup Superhuman in AI platform push
(Corrects the year Grammarly was founded in paragraph 3, and the spelling of CEO's first name in paragraph 6;) (Reuters) -Grammarly has signed a deal to acquire email efficiency tool Superhuman as part of the company's push to build an artificial intelligence-powered productivity suite and diversify its business, its executives told Reuters in an interview. The San Francisco-based companies declined to disclose the financial terms of the deal. Superhuman, once an exclusive email tool boasting a long waitlist for new users, was last valued at $825 million in 2021, and currently has an annual revenue of about $35 million. Grammarly's acquisition of Superhuman follows its recent $1 billion funding from General Catalyst, which gives it dry powder to create a collection of AI-powered workplace tools. Founded in 2009, the company has over 40 million daily users and an annual revenue exceeding $700 million. It's working on a name change with an ambition to expand beyond grammar correction. Superhuman, with over $110 million in funding from investors including IVP and Andreessen Horowitz, has been trying to create an efficient email experience by integrating AI. The company claims its users send and respond to 72% more emails per hour, and the percentage of emails composed with its AI tools has increased fivefold in the past year. It also faces growing competition as email giants from Google to Microsoft are adding more AI features. "Email continues to be the dominant communication tool for the world. Professionals spend something like three hours a day in their inboxes. It's by far the most used work app, foundational to any productivity suite," said Shishir Mehrotra, CEO of Grammarly. "Superhuman is the obvious leading innovator in the space." Last year's purchase of startup Coda gave Grammarly a platform for AI agents to help users research, analyze, and collaborate. Email, according to Mehrotra who co-founded Coda, was the next logical step. Superhuman CEO Rahul Vohra will join Grammarly as part of the deal, along with over 100 Superhuman employees. 'The Superhuman product, team, and brand will continue,' Mehrotra said. 'It's a very well-used product by tens of thousands of people, and we want to see them continue to make progress.' Vohra said that the deal will give Superhuman access to 'significantly greater resources' and allow it to invest more heavily in AI, as well as expand into calendars, tasks, and collaboration tools. Mehrotra and Vohra see an opportunity to integrate Grammarly's AI agents directly into Superhuman, and build the tools for enterprise customers.
