Swissport threatens to sue as hubs axe hundreds of flights June 20, 2022 Airport service provider Swissport has threatened to take airports to court following the ongoing reduction in the number of daily flights at European hubs. “I think that there’s going to be some challenges, I suspect legally, to putting caps on airlines,” said chief executive Warwick Brady. “We recruited enough people for the summer schedule and they [...]
Housebuilders tank on stock market with investors ‘nervous’ about mortgage rates June 20, 2022 Housebuilders lead the London Stock Exchange’s top fallers today, after the latest house price data cautioned the tightening of purse strings amid a cost of living crisis. Barratt Developments and Berkeley Group led the descent, falling a little over four per cent each. While Persimmon dove 3.7 per cent, Ashtead slipped 2.8 per cent and [...]
Rates will need to rise faster to prevent sticky inflation, BoE official warns June 20, 2022 Interest rates will need to rise faster to stop inflation from being “embedded” in the UK economy over the long-run, a top Bank of England official warned today. Catherine Mann, a member of the Bank’s nine-strong rate setting committee, said “a robust policy move… reduces the risk that domestic inflation already embedded is further boosted [...]
Deliveroo poaches Money Supermarket chief financial officer June 20, 2022 Deliveroo has poached MoneySupermarket.com’s chief financial officer for the same role at the food delivery firm. The London-listed platform announced on Monday that Scilla Grimble will join the company as CFO and board director by no later than June 2023. Current CFO Adam Miller will initially be replaced by Deliveroo’s VP for investor relations David [...]
‘Carrie-gate’ swells as Downing Street admits it did speak to The Times before story about £100k job for Boris Johnson’s girlfriend was dropped June 20, 2022 In a dramatic new development, Downing Street reluctantly admitted this afternoon there were indeed talks between Number 10 and The Times before Rupert Murdoch-owned newspaper dropped a story that claimed Boris Johnson tried to appoint his now wife to a Government role when he was Foreign Secretary. According to the story in The Times on [...]
Heathrow urges airlines to cut 10 per cent of flights following luggage chaos June 20, 2022 Heathrow has urged airlines operating from terminals 2 and 3 to cut 10 per cent of flights after on Friday it reported significant luggage issues. “The technical issues affecting baggage systems have led to us making the decision to request airlines operating in terminals 2 and 3 to consolidate their schedules on Monday June 20,” [...]
Hollywood in shock as all eyes in Italy are on Paul Haggis: Oscar-winning director held at hotel room June 20, 2022 The director and writer of Hollywood hits such as Million Dollar Baby, Crash and two James Bond films – Paul Haggis – is currently being held in a hotel room in southern Italy pending a court hearing while prosecutors press their investigation of a woman’s allegations he had sex with her without her consent over [...]
30 per cent spike in insolvent companies as firms hit by rising costs and falling consumer spending June 20, 2022 The quadrupling of interest rates since December has tipped thousands of companies into insolvency, with a 30 per cent spike in the last three months. Almost 6,000 firms have gone down according to Mazars, the audit and tax specialists, up from 4,578 inn the previous three months. This comes after the Bank of England raised [...]
Dorries: Privatisation of Channel 4 isn’t about ideology but the broadcaster’s survival June 20, 2022 Nadine Dorries has pushed back against the public outcry about the upcoming privatisation of Channel 4.
Euromoney receives £1.6bn takeover offer from private equity firms June 20, 2022 The board of Euromoney Institutional Investor PLC confirmed today that Astorg Asset Management S.àr.l and Epiris LLP (the Consortium) approached it with a possible all-cash offer of £1.6bn at £14.61 per share. This is the fifth time Euromoney has been approached by the two private equity firms, following possible all-cash offers of £11.75, £12.50, £13.10 and [...]