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

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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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Nike’s New CFO Won’t Speed Up Its Turnaround

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Nike’s New CFO Won’t Speed Up Its Turnaround

Nike’s New CFO Won’t Speed Up Its Turnaround

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Japan stocks lower at close of trade; Nikkei 225 down 4.09%

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Japan stocks lower at close of trade; Nikkei 225 down 4.09%

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BlackBerry Limited 2027 Q1 – Results – Earnings Call Presentation (TSX:BB:CA) 2026-06-26

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

This article was written by

Seeking Alpha’s transcripts team is responsible for the development of all of our transcript-related projects. We currently publish thousands of quarterly earnings calls per quarter on our site and are continuing to grow and expand our coverage. The purpose of this profile is to allow us to share with our readers new transcript-related developments. Thanks, SA Transcripts Team

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Lebron Contract Negotiations with Lakers Show Minimal Progress So Far

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LeBron James

LOS ANGELES — Negotiations between the Los Angeles Lakers and LeBron James have seen limited movement since free agency opened, with the team yet to make a formal contract offer to the 41-year-old superstar.

ESPN’s Shams Charania reported that a check-in call occurred early in the negotiation window following the NBA Finals, but communication has been sparse since then. The situation leaves James’ future with the franchise uncertain as both sides evaluate options.

James, who just completed his 23rd NBA season, holds a player option for the 2026-27 campaign. His decision on whether to exercise that option or enter free agency will significantly impact the Lakers’ offseason planning.

The Lakers have already secured Austin Reaves with a maximum contract extension and face pressure to build a competitive roster around Luka Doncic. James’ potential $50 million salary slot creates both opportunity and constraint for the franchise.

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Background on Negotiations

The minimal communication stands in contrast to the high stakes involved. James has been the face of the Lakers since joining in 2018, delivering championships and breaking numerous records during his tenure.

Reports indicate James is seeking a maximum contract without taking a pay cut. His agent Rich Paul has been instrumental in navigating contract discussions throughout James’ career.

The Lakers must balance retaining their veteran leader with addressing roster needs around Doncic. The franchise’s priorities include adding complementary pieces that enhance the team’s competitiveness in the Western Conference.

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James’ Career Context

James’ longevity and production at an advanced age continue defying conventional expectations. His ability to perform at an elite level while managing physical demands has been remarkable throughout his career.

The four-time MVP has expressed commitment to winning while considering family and long-term plans. His decision will reflect both competitive aspirations and personal priorities.

Previous contract negotiations with the Lakers have resulted in extensions that provided stability for the franchise. This latest chapter carries additional complexity given James’ age and the team’s roster construction needs.

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Lakers’ Strategic Position

Los Angeles has invested heavily in building around Doncic as the team’s future cornerstone. James’ presence provides veteran leadership and scoring ability that could accelerate the young star’s development.

The franchise’s salary cap situation requires careful management. Retaining James while adding supporting talent presents challenges that the front office must navigate strategically.

Recent moves, including the Reaves extension, demonstrate commitment to key pieces. The organization’s approach to James’ situation will signal broader intentions for the upcoming season and beyond.

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Potential Outcomes

James returning to the Lakers on a short-term deal remains the most likely scenario according to many observers. His deep ties to the franchise and comfort in Los Angeles provide strong incentives for continuity.

Alternative paths could include James exploring free agency or accepting a sign-and-trade arrangement. However, few teams possess both the cap space and competitive appeal to lure him away.

The Lakers’ leverage stems from their desire to maintain stability while building for the future. James’ unique status as both legend and active contributor creates a complex dynamic for negotiations.

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Broader NBA Context

The league’s free agency period typically features intense activity as teams reshape rosters. James’ situation represents one of the most significant storylines given his historical impact and continued relevance.

Other star players face similar decisions about contract options and future destinations. The movement of veterans influences competitive balance across conferences.

The NBA’s salary cap and collective bargaining agreement create parameters that shape negotiations. Teams must balance immediate contention with long-term flexibility when approaching star contracts.

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Impact on Lakers Roster

James’ decision will influence how the Lakers allocate remaining resources. His presence affects both on-court chemistry and off-court leadership dynamics.

The franchise’s ability to attract complementary talent depends partly on James’ commitment. His endorsement carries significant weight in free agency conversations.

Younger players on the roster would benefit from continued mentorship if James returns. His experience provides valuable guidance for developing stars like Doncic.

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Fan and League Perspectives

Lakers fans have grown accustomed to James’ presence and leadership. His potential departure would mark the end of a significant era in franchise history.

League observers view James as a transformative figure whose decisions ripple across the NBA landscape. His choice will generate substantial discussion and analysis.

The situation highlights the evolving nature of player-team relationships in modern professional basketball. Loyalty, business considerations and competitive opportunities intersect in complex ways.

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As negotiations continue, both sides maintain professional discretion. The outcome will shape the Lakers’ direction and James’ legacy in his later career stages.

The coming days and weeks may bring clarity to James’ future. Until then, speculation and analysis will continue surrounding one of the NBA’s most significant storylines.

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Oil Futures Fall to Lowest Since the Outbreak of War

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Oil Futures Fall to Lowest Since the Outbreak of War

1456 ET – Oil futures fall to their lowest level since the start of the U.S.-Iran conflict as more oil shipments make it out of the Persian Gulf. Signs are that production and exports will return much faster than had been thought during the war, Mizuho’s Robert Yawger says in a note. “Once storage draws down, oil producers can ramp up production and return to business as usual” as long as the U.S. and Iran reach an agreement in the 60-day negotiation period that keeps Strait of Hormuz open. Yawger expects the Trump administration would extend the negotiating period rather than go back on the offensive in mid-August, “just two-and-a-half months away from the mid-term elections, where affordability will be a major issue.” WTI settles down 3.9% at $70.34 a barrel and front-month Brent falls 4.3% to $73.74. (anthony.harrup@wsj.com)

Oil Market Shrugs Off Large U.S. Crude Stock Draw

1219 ET – Oil futures are falling as euphoria over the return of ships through the Strait of Hormuz outweighs concerns about falling U.S. inventories. The EIA reported a larger-than-expected 6.1 million barrel drop in commercial crude stocks for last week, a ninth straight draw. “Short-term we have major drawdowns in inventories, there’s a lot of disruption in the market, and the exact short-term trajectory is difficult to see,” says TradeStation’s David Russell. But the intermediate to long-term outlook is more bearish for prices than the market seems to appreciate with OPEC lifting production and Venezuela’s return to the market, he says. “There’s a flood of oil that’s coming and everybody knows it.” WTI is off 3.8% and most active Brent is down 3.5%. (anthony.harrup@wsj.com)

Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

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Bitcoin pinned below $60k as ETF outflows extend into 7th week

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Bitcoin pinned below $60k as ETF outflows extend into 7th week

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General Motors: An Upgrade Would Be Warranted If Not For The Economy

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General Motors: An Upgrade Would Be Warranted If Not For The Economy

General Motors: An Upgrade Would Be Warranted If Not For The Economy

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Brokerages stay bullish on Laurus Labs as CDMO momentum and margins improve

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Brokerages stay bullish on Laurus Labs as CDMO momentum and margins improve
ET Intelligence Group: Shares of Laurus Labs have gained 30% in two months following a strong FY26 financial performance driven by growth in the contract development and manufacturing organisation (CDMO) segment, improved product mix and operating leverage. The company has guided for a capex of ₹3,000 crore over the next two years, primarily towards CDMO, peptides, fermentation and advanced therapies. Analysts have raised earnings estimates by 6-8% for FY27-28.

The drug maker is undergoing a structural shift towards higher-value segments, with CDMO contributing over 30% to total revenue, up from 13% six years ago. This share is expected to reach 50% by FY30. The company has reduced dependence on the traditional segment of antiretroviral (ARV) therapies, with their contribution declining to about 41% from 67%.

Laurus Labs’ High-Value Bet Starts Paying Off at ScaleAgencies

Guidance for ₹3,000-cr capex reinforces co’s long-term growth play

The CDMO segment grew 36% year-on-year to ₹2,080 crore in FY26, driven by late-stage pipeline progress, higher commercialisation of novel molecules, and strong outsourcing demand from global pharma players. Laurus is also expanding into non-pharma segments such as crop science and animal health. From a current base of about ₹150 crore, Motilal Oswal Financial Services (MOFSL) expects these segments to scale beyond ₹1,000 crore over time. The brokerage highlighted that CDMO growth has been supported by both development projects and commercialised molecules, and expects the segment to maintain momentum, projecting a 22% annual growth over FY26-28.

The operating margin before depreciation and amortisation (Ebitda margin) expanded 670 basis points year-on-year to 26.8%, driven by higher operating leverage. While the company expects to sustain margin at current levels, its trend will depend on the extent of volatility in raw material prices.

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The company has outlined capital expenditure of ₹3,000 crore over the next two years, with over 90% allocation towards expanding mid and large-scale manufacturing capacities. Its key projects include greenfield Unit 7 facility with over 2,000 cubic meters of reactor capacity and a second commercial block slated for validation by the September 2026 quarter, alongside investments in animal health, fermentation and a formulation facility.


MOFSL has maintained a ‘BUY’ rating on the stock and raised earnings estimates for FY27 by 8% and for FY28 by 6% citing stronger CDMO traction, steady growth in ARV and non-ARV segments, continued operating leverage and ongoing capacity expansion. The stock closed 0.2% lower at ₹1,450.6 on Thursday from the previous day’s close on the BSE.

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Stock Market Holiday 2026: Is BSE, NSE open or closed today for Muharram?

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Stock Market Holiday 2026: Is BSE, NSE open or closed today for Muharram?
Indian stock market will remain closed today, June 26, as the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) are shut for trading on account of Muharram.

India’s largest commodity exchange, the Multi-Commodity Exchange of India (MCX), is closed for the first session (9 am to 5 pm) on Friday. Trading will resume in the evening session between 5 pm and 11:30 pm, as per its website. The National Commodity & Derivatives Exchange Limited (NCDEX), meanwhile, is closed for the entire day.

Upcoming market holidays
In total, 16 stock market holidays were scheduled for 2026, of which nine have already passed. April saw two holidays – April 3 (Good Friday) and April 14 (Dr. B.R. Ambedkar Jayanti), while markets were also closed on May 1 on account of Maharashtra Day and May 28 for Bakri Id.After today’s market holiday, the BSE and NSE will next be closed on September 14 for Ganesh Chaturthi, followed by October 2 (Mahatma Gandhi Jayanti), October 20 (Dussehra), November 10 (Diwali-Balipratipada), November 24 (Guru Nanak Jayanti), and December 25 (Christmas).

Check list of upcoming seven market holidays, including today.

Muharram is the first month of the Islamic calendar and is based on the lunar cycle, so dates may differ between countries depending on when the new moon is sighted. In India, the datefor Muharram 2026 is Friday, June 26, 2026. This will give a three-day weekend to many.As the first month of the Islamic Hijri calendar, Muharram signifies the beginning of the Islamic New Year. Derived from the Arabic word meaning “forbidden,” Muharram is one of the four sacred months in Islam during which warfare is traditionally prohibited. It carries profound religious and historical significance throughout the Muslim communities of the world. For Shia Muslims, Muharram is particularly marked by grief and remembrance, especially on the day of Ashura, the 10th day of Muharram.

Also read: Vodafone Idea shares rally 80% in less than 3 months. Time to buy or avoid?

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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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Alphabet Stock Joins the Dow. What History Says Happens Next.

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Alphabet Stock Joins the Dow. What History Says Happens Next.

Alphabet Stock Joins the Dow. What History Says Happens Next.

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