M4 relief road scrapped

  1. Video content

    Video caption: M4 relief road would be built 'promptly' by UK government

    Welsh Secretary Simon Hart says the UK government wants to build the scrapped M4 relief road.

  2. Video content

    Video caption: M4 relief road: 'Motorway charge may be necessary'

    But better public transport is needed before such a charge is introduced, a report recommends.

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    Video caption: Boris Johnson 'no say' in M4 relief road as row erupts

    The Welsh Government says it is a devolved matter after the PM promised to build a "proper M4 bypass".

  4. Costain shares slide


    Shares in construction firm Costain have tumbled nearly 40% after it warned it had been hit contract delays.

    It said it projects affected include the M6 Smart Motorway, Preston distributor road and HS2 Southern Section main works.

    The M4 Corridor around Newport project was cancelled by the Welsh Government earlier this month, it added.

    That means its revenue for 2019 will be lower than previously anticipated and underlying operating profit for the full year is expected to be in the range of £38m to £42m.

    Alex Vaughan, chief executive officer, said: "Despite delays to the timing of certain contract start dates and new awards, our markets are strong, as evidenced by the breadth of our new contract awards in the first half.

    "We have a strong balance sheet, profitable operations and a broad range of capabilities to support the growth of the business. Costain is well placed to secure the opportunities ahead of us."

    The shares are trading at 184p.

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    Video caption: M4 relief road: The village sick of sitting in traffic

    Most people living in the Monmouthshire village of Magor rely on the M4 to get anywhere.