Boeing’s £3.8bn deal with Embraer ‘to be investigated by EU competition watchdog’ September 23, 2019 Boeing is facing an investigation by EU antitrust regulators into its bid for a controlling stake in the commercial aircraft arm of Brazilian firm Embraer. The deal, which marks the biggest shift in commercial aerospace in decades, would reinforce Western plane makers’ market positions against newcomers from China, Russia or Japan. I would give Boeing [...]
Thomas Cook collapse: Assets under the hammer as liquidators move in September 23, 2019 Collapsed airline Thomas Cook will be sold as a whole or in parts after it went into liquidation this morning, the firm’s second largest shareholder has said. Neset Kockar, boss of Turkish holiday group Anex Tour, owned a near-eight per cent stake in the travel giant when it went under. Read more: Tui share price soars [...]
Timeline – Thomas Cook’s humble beginnings to a billion-pound collapse September 23, 2019 Thomas Cook’s insolvency has left hundreds of thousands of people stranded abroad, and cost tens of thousands of jobs in the UK. But it has been a long time coming. With debts ballooning over the last 10 years and a near-miss in 2011, Britain’s oldest travel firm has endured a bumpy ride in recent years [...]
Bank demand leaves Thomas Cook exploring options September 19, 2019 Thomas Cook is looking at its assets as it attempts to stave off demise, reports tonight say, after lenders demanded significant contingency funding. Sky News’ Mark Kleinman has been told by insiders that “every possible option” is on the table as they look to salvage some 20,000 jobs. Kleinman reports the 178-year-old holiday giant has [...]
Ryanair expects to see Boeing 737 Max crash jet back in UK skies by March next year September 19, 2019 Ryanair expects the grounded Boeing 737 Max jet will be back in Britain’s skies by the beginning of March 2020, despite misgivings about such a timetable in Europe. At the budget flyer’s annual shareholder meeting, chief executive Michael O’Leary has told shareholders he expects the jet, which was grounded in March this year after the [...]
Kier Group turnaround ‘heading in right direction’ despite crashing to £245m loss September 19, 2019 Kier Group’s stock recovered to finish up 1.1 per cent today as shareholders appeared cautiously optimistic about its pricey turnaround plan. The struggling outsourcer staggered to a £245m loss in its latest full year, but trimmed its net debt by more than 10 per cent to £167m. Read more: Kier suspends dividend and unveils plan [...]
Travelex fraudster who stole £70,000 faces sentencing September 19, 2019 A Travelex employee who stole more than £70,000 from one of the firm’s currency exchange bureaus will today be sentenced for fraud. Dubravko Kuftinec, 52, fraudulently stole £72,186 from Travelex’s Fleet Street branch inside the Goldman Sachs building. Read more: BT’s Italian accounting fraud linked to London, investigation reveals He had been working at the [...]
BT Group ‘leads push for timetable’ on Britain’s big broadband switch September 18, 2019 BT Group and other broadband infrastructure firms are said to be holding talks with the government about a timetable for switching off copper broadband services. In a move that would echo the switch-off of analogue TV signal in 2012, BT is reportedly spearheading the initiative, which has been under discussion with other firms, regulators and [...]
US Federal Reserve cuts interest rates by a quarter point September 18, 2019 The US Federal Reserve has cut interest rates for the second meeting in a row amid concerns about a global economic slowdown, in a move which was largely expected by economists. The central bank lowered its main federal funds target rate by 25 basis points (0.25 percentage points) to between 1.75 and two per cent, [...]
World will have twice as many planes in the skies in 20 years, says Airbus September 18, 2019 The world will have twice as many passenger jets in 2038 as are currently in the skies, Airbus forecast today, as the plane maker raised concerns over a potentially damaging tariff war between the EU and the US. The European plane maker has hiked its forecasts for jet plane demand to 47,680 aircraft by 2038, [...]
