British Airways owner set for record £183m fine after 2018 data breach July 8, 2019 British Airways is gearing up to face a record £183m fine by authorities after a data breach caused it to lose more than 400,000 customers’ information. The airline’s owner, International Consolidated Airlines Group (IAG), announced this morning it would make “any necessary appeals” in response to the penalty. Read more: British Airways data breach: How [...]
British Airways looks to avert disruption of pilot strikes during busy summer months July 8, 2019 British Airways today began talks with pilots in an attempt to stop them striking over the summer. Pilots met company representatives at the conciliation service Acas after rejecting a pay increase of 11.5 per cent over three years. The airline has said the pay rise is “fair and generous”. Read more: Oman Air beats British [...]
Theresa May says leaked US ambassador emails ‘a matter of regret’ July 8, 2019 Britain has been in touch with Donald Trump’s White House to express regret over the leak of confidential emails in which the ambassador to the US called the President’s administration “dysfunctional” and “inept”. The messages from Sir Kim Darroch, the UK’s ambassador to Washington, were leaked to the Mail on Sunday over the weekend. Yesterday, [...]
Tube chaos: Commuters complain of overcrowding after Northern Line suspended July 8, 2019 Londoners have faced a chaotic commute this morning after the Northern Line was suspended. A signal failure meant there was no southbound service between Moorgate and Kennington, and no northbound service between Kennington and Charing Cross. Read more: Tube drivers get ear defenders for ‘screeching’ Underground lines Transport for London recommended commuters avoid the line [...]
Private bank Julius Baer appoints new chief executive July 8, 2019 Swiss private bank Julius Baer has appointed Philipp Rickenbacher as its new chief executive. The 48-year-old Swiss is the current head of intermediaries and global custody at the Switzerland’s third-largest listed bank. He will replace Bernard Hodler, the current chief executive, on 1 September. Read more: Swiss investment bank Julius Baer targets £77m of cuts [...]
British Steel inquiry delayed amid fears findings could affect sale process June 13, 2019 MPs have delayed an inquiry into the collapse of British Steel until the Autumn, amid fears the findings could hurt efforts to find a new owner. The influential Business, Energy and Industrial Strategy Committee group of MPs was set to grill Marc Meyohas, a partner at British Steel’s former owner Greybull Capital, on 26 June. [...]
Packaging maker DS Smith shares on the rise as profits soar June 13, 2019 DS Smith shares rose five per cent today on the news it enjoyed profit boost of nearly one-third last year. The packaging manufacturer said it had plans in place to stockpile goods ahead of Britain’s planned exit from the EU at the end of October. Read more: DS Smith sells plastics division to US private [...]
Aston Martin braces for shareholder rebellion against chief executive’s pay June 13, 2019 Aston Martin shareholders are gearing up to rebel against executive pay just months after the firm’s £4.3bn initial public offering last year. Read more: Aston Martin shares crash 18 per cent on investment bank warning Several investors plan to reject chief executive Andy Palmer’s pay packet, according to Sky News. It comes after the world’s [...]
Most Help to Buy beneficiaries ‘did not need scheme’ June 13, 2019 The government’s Help to Buy scheme has been accused of subsidising existing homeowners, after it emerged most people who have bought a house using the programme could have done so without it. A National Audit Office report today said three-fifths of buyers could have bought a property without the support of Help to Buy, “but [...]
Vote against Nissan chief executive Hiroto Saikawa at upcoming AGM, say proxy shareholders June 12, 2019 Pressure is mounting on Nissan chief executive Hiroto Saikawa ahead of a vote on his re-election as a director at the firm later this month. Two of the world’s largest proxy voter services, ISS and Glass Lewis, have recommended shareholders do not retain him at the helm of the Japanese car maker. Read more: Nissan [...]
