Network Rail profits halve as accounting changes bite

Network Rail annual pre-tax profit has halved to £506m ($782m; €692m), compared with £1.04bn a year earlier.

Network Rail fined more than £50m for late trains

Network Rail has been fined more than £50m by the regulator for causing trains to run late – with the Treasury pledging to plough some of penalty back into the railways to provide faster Wi-Fi on commuter trains.