Q: What exactly has been announced on Wednesday?

A: National Express, the company that runs the InterCity East Coast rail franchise from London to Leeds, Edinburgh and other places, has announced it cannot support the losses it expects this year on the franchise and will not be able to pay money it owes the government to run the service. As a result, the Department for Transport has announced that it will take the operation into public hands at some point this year until it can find a new operator.