Easyhotel struggles in the face of weakening consumer confidence October 18, 2019 Super-budget hotel firm Easyhotel shares fell this morning as it reported dampening consumer confidence, with no improvement in sight. The London-listed firm said that despite political uncertainty that has blighted the industry in recent months, it had outperformed the UK hotel market over the last year. Read more: Stelios urges investors to reject Icamap’s £139m [...]
Virgin Atlantic in fresh broadside against British Airways owner over Heathrow slots October 17, 2019 A war of words between two of Britain’s two biggest airlines over take-off and landing slots at Heathrow escalated further this morning, as Virgin Atlantic’s boss launched a fresh salvo against the dominance of British Airways owner International Airlines Group (IAG) at the airport. Shai Weiss, Virgin Atlantic’s outspoken chief executive, revealed he had set [...]
British Airways boss says electric planes idea won’t fly until 2050 October 17, 2019 The boss of British Airways has thrown doubt over predictions electric planes could enter service over the coming decades. Alex Cruz, BA’s chief executive, said there was “limited opportunity” for electric aircraft entering the market up until 2050. When pressed on the matter, he said BA had consulted with academics and come to the conclusion [...]
Heathrow airport faces fresh calls to increase competition between airlines October 17, 2019 Heathrow airport has come under fresh pressure to increase competition between airlines, amid concerns over a monopoly by British Airways owner International Airlines Group (IAG). A survey has suggested 57 per cent of British travellers support more choice of airline at Heathrow, one day after the transport secretary backed calls for greater competition. Read more: [...]
Arriva-run Northern Rail franchise could be nationalised October 16, 2019 One of Britain’s biggest rail franchises could be renationalised amid concerns about its financial situation and late-running trains, the transport secretary has said. Grant Shapps said he is considering whether Northern Rail, which is run by German operator Arriva, should be brought under state control. Read more: Arriva seeks £200m from government over East Midlands [...]
No-deal Brexit ‘threatens trade blockages and organised crime’ at Britain’s borders October 16, 2019 Britain’s border risks becoming snarled up in a no-deal Brexit because of low preparation amongst traders, new EU controls and a growing threat from organised crime, according to the National Audit Office. As few as 30 per cent of traders are adequately prepared for a no-deal Brexit, which would see £438bn worth of trade revert [...]
Strong London performance pushes up Segro’s headline rent contract value October 16, 2019 Property giant Segro has increased the value of new headline rent contracts signed for the third quarter. The investor and developer said it signed contracts worth £15.3m over the period, up from £12.6m over the same time last year. Read more: Segro to make £450m placing as profits soar The growth brings its total headline [...]
Blame game: Thomas Cook bosses point finger at government as MPs slam high pay October 15, 2019 Former Thomas Cook bosses have pointed the finger at the government for failing to stump up emergency cash to keep the firm trading last month, in a heated evidence session with MPs. Members of the collapsed holiday giant’s board, including chairman Frank Meysman and chief executive Peter Fankhauser, were today hauled in front of MPs [...]
Goldman Sachs misses profit forecasts amid slump in advisory fees October 15, 2019 Goldman Sachs has missed Wall Street estimates for quarterly profit, amid fewer fees from advising on deals. Revenue at three of its four major business units fell in the most recent quarter, led by declines in investment banking due to fewer mergers and stock market floats. Goldman shares fell three per cent this afternoon. The [...]
Business committee chair Rachel Reeves attacks defiant Thomas Cook leadership October 15, 2019 Business select committee chair Rachel Reeves launched a stinging attack on Thomas Cook executives today in a heated evidence session into the firm’s collapse last month. After hearing evidence on how the company was allowed to fall into liquidation, putting 9,000 people out of a job and 150,000 more stranded abroad, she told chief executive [...]
