Stelios accuses Easyjet of ‘voting fraud’ after failing to oust management May 22, 2020 Easyjet founder Sir Stelios Haji-Ioannou accused the airline of “voting fraud” today after his attempt to oust key management figures was defeated. Haji-Ioannou launched the attempt to remove the management team after a row over Easyjet’s continuation of a deal to buy 107 Airbus planes for £4.5bn which Haji-Ioannou says puts the future of the [...]
Oil prices tumble as US-China tensions rise over Hong Kong May 22, 2020 Oil prices have fallen after a rise in US-China tensions that was spurred by Beijing moving to impose security laws on Hong Kong and as fresh doubts set in about demand amid the coronavirus recovery. Brent crude oil, the main global price, fell 4.9 per cent to $34.40 per barrel. Meanwhile US benchmark WTI crude [...]
Competition watchdog launches investigation into fake online reviews May 22, 2020 The competition watchdog has opened an investigation into several major websites over whether they are doing enough to protect shoppers from fake and misleading reviews. The Competition and Markets Authority (CMA) said it will probe how the sites detect, investigate and respond to issues such as suspicious reviews — for example where one user has [...]
Easyjet woes grow after it is hit with massive group action claim over data breach May 22, 2020 Struggling budget airline Easyjet suffered another blow today after it was hit with a massive group action claim following its data breach which was announced earlier this month. Law firm PGMBM today said it had issued the group action claim in the High Court on behalf of customers whose details were exposed in the breach. [...]
Lloyds suspends job cuts until October amid coronavirus crisis May 22, 2020 Lloyds Banking Group said today it has suspended all job cuts until October to help employees through the coronavirus crisis. City A.M. revealed last month that staff already going through redundancy processes feared the bank would leave them jobless at the height of the pandemic. Lloyds had previously suspended all new job cuts, but those [...]
Which south London pubs are serving pints this weekend? A non-exhaustive list May 22, 2020 The pint. The perfect measure; not too big, not too small. And now available in takeaway milk cartons in a host of pubs across south London. Here’s City A.M.’s very much non-exhaustive list of pubs south of the river that will allow you to have something cold, fizzy and poured by somebody else over this [...]
Covid-19 will change business forever, says Deloitte chief May 22, 2020 The economic and cultural impact of the coronavirus crisis is so severe that it will change business forever, a top Deloitte executive has said. David Sproul, Deloitte’s global deputy chief executive, told City A.M. that rapid changes in working habits and use of technology since the pandemic outbreak would likely never be reversed. “I’m absolutely [...]
Easyjet says it has defeated Stelios in crunch board vote May 22, 2020 Easyjet today said that its founder Sir Stelios Haji-Ioannou has failed in his bid to oust key management including the chief executive, according to the initial result of a shareholder vote. Haji-Ioannou launched the attempt to remove the management team after a row over Easyjet’s continuation of a deal to buy 107 Airbus planes for [...]
Austerity architect George Osborne: UK faces ‘hard choices’ after borrowing surge May 22, 2020 Former chancellor George Osborne has said the government will in the next “two or three years” need to lay out a plan to “bring balance” to the budget, after data showed that borrowing soared in April. Osborne sharply divided opinion in the UK as the primary architect of post-2008 austerity, which slashed spending in an [...]
Wetherspoon to rely on app more than ever under plan to reopen all 875 pubs May 22, 2020 JD Wetherspoon has outlined plans to invest £11m in reopening its pubs, including installing screens and providing hand sanitiser and protective clothing for staff. The pub chain said it will reopen all of its 875 pubs in the UK and Ireland when it gets the go-ahead from governments, and all pubs will operate their usual [...]