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World Business Report: First broadcast 2018/01/15 01:06 GMT: International Builder Carillion in Debt Crisis

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International Builder Carillion in debt crisis

First broadcast 2018/01/15 01:06 GMT

First broadcast 2018/01/15 01:06 GMT: International Builder Carillion in Debt Crisis

International Builder Carillion in Debt Crisis

BBC World Service - World Business Report, International Builder Carillion in Debt Crisis

Carillion's projects include Union Station in Toronto and the Suez Canal road tunnel

Carillion's projects include Union Station in Toronto and the Suez Canal road tunnel.

The construction group Carillion has built some of the world's major construction projects, such as the Suez Canal road tunnel, Union Station in Toronto and the Royal Opera House in London. 

Its business also stretches to running hospitals and schools and it's recently won the contract to build a new high speed rail line in Britain, a project worth billions to connect London with the north of England. 

But despite such a healthy order book Carillion is deep in debt and in danger of collapsing unless its creditor banks and the British government agree to rescue the troubled company. Jo Michel, who specialises in the economics of the construction industry, at the University of the West of England, says the nature of its government contracts have long been controversial. 

Also in the programme, Paul Eisenstein, the publisher of The Detroit Bureau, a motor industry information service, says gas-guzzling pick-up trucks could be back in vogue at the city's motor show.

Michael Hughes, independent economist, explains recent moves in the bond market. 

(Photo: A construction crane showing the branding of British construction company Carillion is photographed at night on a construction site in central London. Credit: AFP/Getty Images)

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