A team of Chinese firms led by China Railway International, along with the Export-Import Bank of China, wants to build and finance a large part of California's proposed 800-mile high-speed rail project.

Electrification of the Great Western railway line between South Wales and London could cost £2.8bn, according to Network Rail chief executive Mark Carne. Speaking to the House of Commons Public Accounts Committee, Carne confirmed that the estimated cost had risen from £874M at the beginning of 2013 to £1.6bn last September and the latest figure was now between £2.5bn and £2.8bn.

Transport for London is to release more than 300 acres of land for more than 10,000 new homes across the capital, generating  £3.4bn in non-fares commercial revenue by 2023 to reinvest in London’s transport.