15,000 EasyJet passengers hit by flight cancellations at Gatwick due to stormy weather June 12, 2023 Easyjet has cancelled flights affecting over 15,000 passengers, as thunderstorms and poor weather conditions across the UK and Europe caused significant disruption. The budget airline cancelled 54 flights on Sunday and 55 on Monday due to take-off from Gatwick Airport. Easyjet said that “thunderstorms in the Gatwick area restricted the number of arrivals and departures [...]
Glencore makes fresh bid for Teck coal arm as takeover battle takes new twist June 12, 2023 Glencore has redoubled its efforts to acquire Teck Resources, offering to buy its steelmaking coal business as a standalone company.
FTSE 100 close: London markets rise ahead of Fed and ECB decisions this week June 12, 2023 London markets closed higher on Monday ahead of a big week for central banks, with the Fed, European Central Bank (ECB) and Bank of Japan all set for their latest interest rate decision. The capital’s premier index climbed 0.1 per cent to 7,570.69 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned [...]
London Heathrow reports booming May traffic as triple Bank Holiday eclipses strikes June 12, 2023 London’s Heathrow Airport had 6.7m passengers in May as a triple bank holiday and strong demand for transatlantic routes helped it shrug off eight days of strike action. The airport said this morning that it currently has “more daily flights than ever before between the UK and USA,” with one in four passengers flying between [...]
Lights out: F1 Arcade secures tens of millions for global expansion June 12, 2023 A Formula 1 competitive gaming chain, founded by hospitality heavyweight Adam Breeden, has secured £30m in funding from investors to fuel its expansion globally. The concept, F1 Arcade, launched last year in St Paul’s, London and merges simulator racing with cocktails and food. The sport has grown in popularity in recent years, largely made popular [...]
Andreessen Horowitz launches London crypto push with first international office June 12, 2023 Storied US venture capital firm Andreessen Horowitz has revealed plans for a major growth push in the UK today with a first international office in London and a crypto accelerator programme to take place next year.
UBS completes Credit Suisse takeover while imposing ‘red lines’ on its ex bankers June 12, 2023 UBS confirmed the acquisition of Credit Suisse on Monday as reports suggest Credit Suisse bankers will face tight restrictions on their activity. In an open letter published in the NZZ newspaper, UBS confirmed that “we have finalised the legal takeover of Credit Suisse.” Chief executive Sergio Ermotti and chair Colm Kelleher said “this is the [...]
Bread, beef, watermelon and salad dressing: Waitrose joins supermarket war cutting price of 200 products June 12, 2023 Waitrose has slashed the price of more than 200 products as part of a £100 million investment plan to lower customer bills. The supermarket has cut the cost of more than 100 products by at least 10 per cent , with everyday items such as bread and mince receiving some of the biggest reductions. The [...]
HSBC launches ‘Innovation Banking’ division housing SVB’s former UK arm June 12, 2023 HSBC has revealed it will launch a new global “Innovation Banking” division today centred on the former UK arm of Silicon Valley Bank (SVB), which it rescued from collapse in March. SVB UK was snapped up for £1 in an eleventh hour deal by HSBC in March after being brought down by a run on [...]
Cash transactions at eight-month high as Brits turn to Post Office amid mass bank branch closures June 12, 2023 Cash transactions at post offices reached an eight-month high in May. Some £3.33 billion-worth of transactions were made, marking the highest total since last September, when it was £3.35 billion. Business and personal cash deposits totalled £2.48 billion in May, marking a 10% month-on-month increase. Personal cash withdrawals totalled £817 million in May, up by [...]
