London bike hire contractor Serco penalised £5m by TfL

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Serco, the company that runs London's cycle hire scheme on behalf of Transport for London (TfL), has been penalised by £5m since the project started last summer.

Money has been withheld and penalties have been paid because of faults in the service.

Frequent complaints about the scheme have included faulty bikes, overcharging and poor service from the call centre.

TfL will now be sending a team to Serco in a bid to improve its record.

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