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Welsh Government criticises GWR for opposing more trains from Wales to Bristol

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Business Live

The objections from GWR are ‘extremely disappointing’ says Wales’ transport minister

Mark Hooper is the new deputy minister for transport.

The Welsh Government has criticised Great Western Railway after the rail operator expressed concerns about Transport for Wales’ plans to extend services between Bristol and west Wales.

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Transport for Wales wants to run new services for passengers from either Milford Haven or Pembrokeshire to be able to travel straight to Bristol Temple Meads without changing at Cardiff as they currently have to.

But Great Western Railway (GWR), which already runs Cardiff to Bristol trains, said the proposals would have a “significant effect” on its revenue.

The Welsh Government minister with responsibility for transport, Mark Hooper, said it was “extremely disappointing” GWR would seek to “disrupt these plans to improve things for passengers on both sides of the Severn”.

In a document as part of the consultation process GWR says it worries the plans could affect train services in the Bristol area and were “likely to have a significant effect on GWR’s revenue income”.

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It also said the new services are a “large risk” to UK Government money.

Transport for Wales (TfW) is owned by the Welsh Government.

Documents show TfW plans are for a service which is broadly for a two-hourly route with nine services each way per day.

Two will start from Cardiff in the morning but all the others will be through services between west Wales and Bristol.

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All bar two of the through services will be achieved by combining the new Cardiff-Bristol portions with existing West Wales services at Cardiff Central and two weekday trains will be entirely new services between Cardiff and Carmarthen then extending to/from Milford Haven or Fishguard Harbour in place of existing services.

Between Cardiff Central and Bristol Temple Meads they will call at Newport, Severn Tunnel Junction, Filton Abbey Wood, and Stapleton Road.

One train each way on weekdays and Saturday will additionally call at Bristol Parkway.

West of Cardiff the calling pattern will vary but will typically include Carmarthen, Pembrey and Burry Port, Llanelli, Gowerton, Swansea, Neath, Port Talbot Parkway, and Bridgend with most services originating from, or extending to, Fishguard Harbour or Milford Haven calling at all stations.

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The application says connectivity between west and south Wales and the Bristol area has “long been recognised as essential” for supporting economic growth in the wider region.

“The direct service is aligned with the government mission of supporting jobs, growth, and housing,” it says.

It says it will benefit people travelling not only to Bristol but to Bristol Airport.

The application says the plan would have an operational cost of £21.4m and total value of benefits of £27.9m.

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However GWR say it has “grounds for concern and objects to its approval”. For our free daily briefing on the biggest issues facing the nation sign up to the Wales Matters newsletter here.

It says: “We do not believe that the application has been discussed sufficiently with either Network Rail or with the MetroWest funder to enable a cogent plan to be developed and therefore the full extent of these impacts is unknown at this point. We are also unclear how the services relate to other service enhancements on the line of route in question including the proposed Cardiff-Bristol stopping services and associated new stations proposed by the Burns review.

“Approval of the application may significantly affect the capability to implement these.”

The GWR objection also says it has questions about how the Severn Tunnel would cope given “known capacity constraint”.

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“The key grounds for GWR’s objection include the likely impact on performance of GWR and other services in and around the Bristol area and further afield, understanding the assumptions being made in relation to use of infrastructure both now and in the future and the impact of these services on GWR (and DfT) revenues.

“There are no new markets served in this proposal with GWR already operating up to three trains per hour between Cardiff Central and Bristol. The application – and the commercial intentions underpinning it – should, we believe, be seen in this light”.

It says it believes “a two-car cross border service could lead to significant crowding issues on these particular trains that could be better and more cheaply managed through alternative provision”.

The Rail and Road Office will make a final decision.

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Mark Hooper is the new deputy minister for transport. He said: “As a newly-elected government we are committed to working with Transport for Wales on improving connectivity for people across Wales and the borders as part of a modern integrated transport network.

“A new service connecting west Wales with Bristol would not only increase rail capacity on a very busy route but could boost economic growth in communities on the way.

“We will be working collaboratively to ensure that the UK Government’s recent commitment to delivering six new stations between Cardiff and Bristol leads to more services on the route.

“Therefore it’s extremely disappointing that Great Western Railway, which is a UK Government rail operator, would seek to disrupt these plans to improve things for passengers on both sides of the Severn.

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“If Great Western Railway’s objection succeeds it would negatively impact tens of thousands who could benefit from this service.

“I will be writing to the UK Transport Minister to urgently ask for clarification and call for some common sense on this issue.”

GWR has been approached for comment.

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SpaceX Dodges Danger Zone, Rebounds Above $2 Trillion Valuation

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Surrey attractions welcome summer VAT cut on tickets and food

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Two parrots stood next to each other. They are both red and blue.

Plans to cut prices at family attractions over the summer holidays will be a “wonderful initiative” to help more people visit, a business has said.

Government plans coming into force on Thursday will cut VAT on some tickets to attractions in the UK, with the discount expected to be passed on by businesses to customers.

James Robson, general manager of Birdworld in Farnham, Surrey, said that he hoped the move would make visiting easier for families with less money, but also called for a more lasting initiative to help attractions.

“This opens up accessibility to people who might be feeling the strain over the summer holidays,” he said.

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“It’s a wonderful initiative that looks to provide a bit of tax relief through the summer holidays.

“It’s getting more and more expensive to run these attractions, and long term it would be good to see further relief.”

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Buy the dip, stay invested: Matt Orton sees more upside for global markets

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Buy the dip, stay invested: Matt Orton sees more upside for global markets
Global markets are drawing confidence from easing geopolitical tensions, cooling oil prices, and another round of robust earnings from artificial intelligence (AI)-linked companies, according to Matt Orton from Raymond James Investment. With crude oil retreating from recent highs and optimism surrounding AI remaining intact, investors are increasingly viewing market pullbacks as buying opportunities rather than reasons for caution.

Speaking to ET Now, Orton said that while uncertainties remain around global trade negotiations, the removal of worst-case economic scenarios has significantly improved investor sentiment.

“We are removing left-tail scenarios from the table. Some of the worst-case outcomes continue to be taken away, and that is encouraging… All of this is fuel for markets to continue to move higher, and it supports my optimistic case to buy the market on weakness and continue to hold it throughout the rest of this year,” he added.

AI Companies’ Debt Not a Major Concern

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Addressing concerns over rising debt issuance by AI and semiconductor firms, Orton argued that investors should focus on individual company fundamentals rather than broad market narratives.

“Most of these companies have incredibly low debt burdens overall… The majority of the hyperscalers’ balance sheets remain incredibly clean, and I do not have concerns with respect to their ability to fund and finance,” he said.Dollar Strength Could Continue to Pressure Emerging Markets
Orton believes the US dollar remains an underappreciated driver of global markets, particularly for emerging economies like India.
He said a stronger dollar has affected foreign investment flows and created headwinds for commodities, including gold and silver.
“The dollar is going to be the sleeper factor… Rupee weakness has been a key reason why foreign investors have been a little bit resistant to put money back in. Until you start to see the dollar weaken, you are going to continue to see pressure across the broader emerging market complex,” he said.

Micron Results Reinforce the AI Growth Story
Micron Technology’s latest earnings, according to Orton, demonstrate that AI-driven demand remains strong and that supply constraints could persist for several more years.

“Even the whisper numbers on the buy side were met or exceeded… You are still seeing more backlogs being added, margins being strengthened, and that is just a recipe for continued gains,” he said.

He added that investors should continue focusing on high-quality companies benefiting from strong earnings momentum.

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Market Optimism Is Narrow, But Opportunities Remain
While sentiment has improved considerably, Orton cautioned that the rally is concentrated in a handful of semiconductor stocks rather than the broader market.

He also noted that increasing use of leveraged investment products could lead to greater volatility.

“Investor sentiment is very narrow… It creates opportunities, but it also means investors really need to manage risk,” he said.

Despite the concentration, Orton believes diversified exposure remains the best strategy.

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“To me, that is an opportunity to own markets like India, Europe, and Japan because those are good diversifiers to that really high beta that you might have in your overall portfolio,” he said.

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Mike Chang
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We have an awesome, awesome agenda pack for you today. We have about 2.5 hours full of content, and we’re going to talk about how we’re bringing AI to the world of physical operations.

Before we get it started, there are a few housekeeping items. The key 2 things is, first, we’re going to be assessing forward-looking metrics during today’s presentation. These should be taken in addition to — sorry, these statements contain risks and uncertainties, and these are detailed further in SEC filings and our Investor Relations website. Second, we’ll

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Anything focused on momentum, growth, and tech was struggling, while value, dividend stocks, and ETFs with a lot of consumer staples, real estate, health care, or energy stocks were rising.

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