Ten Lifestyle posts loss due to higher costs and Omicron May 11, 2022 Travel concierge firm Ten Lifestyle has posted a 47 per cent slump in its earnings as a result of higher costs and the Omicron variant’s impact. In the six months ended 28 February, the group’s EBITDA went down £1.7m to £0.9m, while its cash and equivalents slumped to £5.1m. According to chief executive Alex Cheatle, [...]
TUI to reap profits in 2022 following summer travel boom May 11, 2022 TUI expects to become once again profitable in 2022 due to the expected boom in summer travel demand. In the second quarter of FY22, the holiday group’s losses before interest and taxes narrowed to €329.9m, down 47.8 per cent on the same time last year, while group revenues went up 9.5 per cent to €2.1bn, [...]
Lifting off from the Highlands: Scotland to be launchpad for Europe’s first-ever microlauncher rocket May 11, 2022 Europe’s very first microlauncher rocket will be launched in Scotland. Lifting off from Space Hub Sutherland, in the Highlands, the Prime orbital space rocket has been unveiled by Orbex, a spaceflight company. The firm will now press ahead with testing, allowing “dress rehearsals” of rocket launches and the development of launch procedures. Orbex recently revealed [...]
UK has ‘given up’ on Brexit talks and plans to kill off Northern Ireland Protocol next week as trade war with EU looms May 11, 2022 The government will reportedly move to discard large portions of the Northern Ireland Protocol after giving up on Brexit negotiations with the EU. The Times newspaper reported officials working for Foreign Secretary Liz Truss have drawn up draft legislation to unilaterally remove the need for checks on all goods being sent from Britain for use [...]
Windfall tax: There was little sympathy for loss-making energy giants in depths of 2020 May 10, 2022 Is business turning on business? It appeared so yesterday morning when the well-respected Tesco chair John Allan said the case for a windfall tax on energy giants had become “overwhelming.” Needless to say, Labour jumped all over this, just as they did when the former Financial Times editor Lionel Barber said the same. But alas, [...]
UK unions and ports slam government’s seafarer minimum wage law May 10, 2022 Both unions and the British Ports Association (BPA) have criticised the UK Government’s introduction of a seafarers’ minimum wage law, calling it “likely unworkable.” “This proposal is feeble and highly unworkable,” said Frances O’Grady, general secretary of the union TUC. “Only stronger employment legislation that boosts worker protections and stops companies firing on the spot [...]
US-UK trade deal ‘never going to happen’, warns former Bank of England bigwig as he says high inflation is down to Brexit May 10, 2022 Most of the UK’s inflation is a direct result of Brexit, according to a former heavyweight at the Bank of England. Former BoE policymaker Adam Posen, said that around 80 per cent of the reason why the IMF expects UK’s inflation to remain high is directly linked to Britain’s departure from the EU. The economist, [...]
Tesla’s sales in China down by a third as Shanghai plant shrinks production May 10, 2022 Tesla continues to suffer from Covid-induced supply chain issues, with car sales in China slumping 35.7 per cent. Data from the China Passenger Car Association published today highlighted that in April the EV giant produced 10,757 China-made vehicles and sold 1,512 of them – the lowest in two years. Numbers also went down compared with [...]
Top Gun: Easyjet launches recruitment campaign to tackle job stereotypes May 10, 2022 Easyjet has launched a new recruitment campaign to attract more young girls to the industry, as only 6 per cent of pilots worldwide are women. To encourage more girls to consider a piloting career as something within their reach, the airline produced a parody of the 80s blockbuster film Top Gun, replacing Tom Cruise and [...]
Wizz Air eyes Saudi Arabia expansion to jump on growing tourism sector May 10, 2022 Wizz Air has announced it was looking into expanding its operations in Saudi Arabia. The low-cost carrier said today it has signed a Memorandum of Understanding with the Saudi ministry of investment to support the development of the country’s tourism sector. Commenting on the announcement, travel expert Rob Staines said: “This is exciting news. Much [...]