‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
Richard Branson pledges $250m to protect jobs from coronavirus March 22, 2020 Richard Branson has pledged that his Virgin empire will invest $250m over the next few months to protect jobs from the impact of the coronavirus pandemic. The entrepreneur, who owns the Virgin Atlantic airline, said many of his businesses in the travel and leisure sector were in a “massive battle” to survive as flights have [...]
Coronavirus: UK airlines await government rescue package March 22, 2020 The UK’s airlines are hopeful that the government will unveil its special package of measures to combat the financial impact of the coronavirus outbreak in the coming days as they struggle to remain airborne due to the slump in air travel. The aviation sector remains in talks with transport secretary Grant Shapps over the shape [...]
Coronavirus: Emirates Airlines suspends all passenger flights March 22, 2020 Emirates Airlines has today announced it will suspend all passenger flights, becoming the latest carrier to impose stringent measures upon itself in a bid to stave off financial devastation at the hands of the coronavirus outbreak. In addition to the dramatic step, the Dubai-based airline will also reduce the salaries of the majority of its [...]
Coronavirus: Renault chairman says car giant will not be nationalised March 22, 2020 Renault’s chairman is adamant that the French car giant will avoid renationalisation despite the immense pressure being put on the industry by the coronavirus outbreak. Speaking with Le Parisien, Jean-Dominique Senard did not rule out seeking help from the French government, which recently announced sweeping measures to protect businesses, but said a renationalisation “was not [...]
Coronavirus: All Ryanair staff to take a 50 per cent pay cut, says Michael O’Leary March 22, 2020 Ryanair boss Michael O’Leary has said he and all of the airline’s staff will have their pay cut in half, as the low-cost carrier attempts to ride out the coronavirus epidemic. Speaking to the Financial Times, the 59-year-old boss of Europe’s biggest airline by passenger numbers said he was working on a best-case scenario of [...]
UK government considers buying equity in airlines to keep them afloat March 21, 2020 The UK government is considering buying equity stakes in airlines and other companies hardest hit by the coronavirus. It comes after warnings that the measures announced by chancellor Rishi Sunak earlier this week will not be enough to save them from collapse. The plans under consideration would see billions of pounds of taxpayer money injected [...]
London coronavirus outbreak: Tube travel plunges 70 per cent March 20, 2020 The number of Londoners taking the Tube has plummeted 70 per cent amid the coronavirus outbreak, Transport for London (TfL) confirmed today. The number of London Underground commuters will fall even further as people are urged not to take public transport, TfL also warned. Bus journeys have fallen 40 per cent too, London’s transport body [...]
Coronavirus: British Airways pilots to take 50 per cent pay cut March 20, 2020 British Airways pilots will take a 50 per cent pay cut in April and May as it battles to survive the impact of the coronavirus outbreak. BA’s 4,500 pilots will take two weeks of unpaid leave each month but the reduction to their wages will be spread over the next three months, according to Sky [...]
Uber shares surge by almost 40 per cent after torrid week March 19, 2020 Uber’s stock price has surged by nearly 40 per cent today, after its chief executive said the company would have billions in cash at the end of the year even in the worst case scenarios. Dara Khosrowshahi told analysts today that the ride-sharing app would have $4bn in cash at the end of 2020, and [...]
Coronavirus: Easyjet and Lufthansa bosses warn that industry will need state aid March 19, 2020 Easyjet chief executive Johan Lundgren has warned that he expects to see “a lot of failures” in the global aviation industry due to the damage done by the coronavirus outbreak. Speaking to the BBC, Lundgren said: “I have been working in the industry for 30 years and I have never seen anything like this.” “If [...]