Airlines accused of price gouging after Thomas Cook collapse September 24, 2019 Airlines have been accused of exploiting the demise of rival Thomas Cook after passengers complained of a huge increase in prices. Holidaymakers looking to book future trips have complained of a surge in fares on the same routes served by the collapsed travel firm. Read more: Thomas Cook: Former workers will not receive pay packets [...]
Thomas Cook: CBI backs probe into executive pay after collapse September 24, 2019 Influential business lobby group the CBI has thrown its weight behind a full-scale inquiry into executive pay at collapsed holiday giant Thomas Cook. Nearly 15,000 people returned to Britain yesterday on specially-chartered flights after the firm collapsed under the weight of a £1.7bn debt pile. More than 100,000 people are still awaiting repatriation by the [...]
Hopes of US-China trade truce boosts stocks on Wall Street September 24, 2019 US stocks edged up today amid mounting optimism over trade talks between the US and China. The S&P 500 and Nasdaw Composite both rose by slightly over 0.5 per cent after trading opened. Meanwhile, the Dow Jones industrial average rose 117 points, or 0.4 per cent, led by a rise in Apple’s share price following [...]
Should Boris Johnson resign? Reaction to Supreme Court ruling September 24, 2019 Today the Supreme Court found that Boris Johnson had acted unlawfully in suspending parliament for five weeks ahead of the Brexit deadline. Saying the suspension took place in “unusual circumstances” , court president Lady Hale declared that “parliament has not been prorogued”, prompting speaker John Bercow to recall MPs to parliament for 11.30am tomorrow. Read [...]
Softbank executives bristle at Vision Fund investment scheme September 24, 2019 Some executives at Japanese technology titan Softbank have reportedly expressed concerns about an incentive scheme whereby employees can take out large personal loans to invest in the group’s Vision Fund. The investment scheme is designed to align the interests of employees with the $97bn technology fund, but the Financial Times reported the scheme is described [...]
Thomas Cook: Former workers ‘will not receive pay packets as usual’ on Monday September 24, 2019 Thomas Cook staff have been told they will not receive their wages as usual on Monday, according to union sources, after the travel giant went bust yesterday. The 178-year-old firm collapsed under the weight of a £1.7bn debt pile early yesterday morning, after weeks of frenzied attempts to negotiate a rescue deal with its lenders. [...]
Mercedes-Benz owner Daimler fined €870m for diesel emissions scandal September 24, 2019 German car manufacturer Daimler has been handed an €870m (£767m) fine for its role in the diesel emissions scandal. Prosecutors in Stuttgart ruled that the Mercedes-Benz owner had committed a “negligent violation of supervisory duties” by failing to meet regulatory requirements for some of its diesel vehicles since 2008. Read more: Volkswagen chief executive faces [...]
Boris Johnson hits out at ‘people who want to frustrate Brexit’ September 24, 2019 The Prime Minister has hit back against the Supreme Court’s ruling that his prorogation of parliament was unlawful, saying the decision has not made getting a Brexit deal “any easier”. Speaking from New York, Boris Johnson said he “strongly disagreed” with the judgement that prorogation was unlawful – but stressed “this is a verdict that [...]
Labour will nationalise new offshore wind September 24, 2019 Labour today revealed plans to take a majority stake in all new offshore wind farms and pledged a boom in renewable power. The party said it would invest £6.2bn into jump starting home-grown renewable industry. It hopes to unlock a £83bn investment. Read more: The answer is blowing in the wind: Experts hail cheapest ever [...]
Supreme Court ruling: What does it mean and what happens now? September 24, 2019 The UK’s Supreme Court has ruled Boris Johnson’s decision to prorogue parliament as unlawful – but what happens next? Is parliament back in business? Speaker John Bercow has said parliament will return from tomorrow morning. He emphatically said he was not recalling parliament, because the ruling was that prorogation had never happened. That means the [...]