FTSE 100 falls back as extra restrictions mulled January 11, 2021 The FTSE 100 fell back slightly this morning as reports that the government is mulling further restrictions pressed on the markets. London’s premier index fell 0.5 per cent by mid morning to stand at 6,838 points after a rapid start to the year last week. In the first week of trading, the bourse picked up [...]
JD Sports shares pop as firm raises profit outlook January 11, 2021 Sportswear giant JD Sports saw its shares rise 4.6 per cent this morning after the firm announced that full-year profit would “significantly ahead” of estimates. In a trading update, the FTSE 100 firm said that “robust” sales during the pandemic would see it come in ahead of the £295m forecast. That’s despite the fact the [...]
New York fund GIP takes lead in bidding war for Signature Aviation January 11, 2021 The board of Signature Aviation have this morning accepted a $4.6bn (£3.4bn) takeover offer from New York fund Global Infrastructure Partners (GIP). Shares in the firm rose 8.8 per cent on the back of the announcement. The $5.50 a share bid beat off competition from Blackstone, which had won the backing of billionaire Bill Gates, [...]
Heathrow passenger numbers fall nearly 75 per cent in 2020 January 11, 2021 Just 22.1m passengers passed through Heathrow Airport in 2020, it was revealed today, a 73 per cent fall year-on-year. The UK’s biggest airport said that the coronavirus had seen 58m fewer travellers pass through its gates than in 2019. Cargo volumes through Britain’s biggest port also fell 28.2 per cent because of restrictions on international [...]
Easyjet secures $2bn loan as coronavirus pain goes on January 11, 2021 Easyjet has today secured a new $1.9bn (£1.4bn) five year loan as it takes further steps to bolster its finances amid the coronavirus pandemic. In a statement, the carrier said that the loan would “significantly extend and improve easyJet’s debt maturity profile and strengthen easyJet’s balance sheet by increasing the level of available liquidity”. The [...]
FCA approves world’s first air travel revenue hedging system January 11, 2021 The UK’s financial regulators has approved Airbus subsidiary Skytra’s Air Travel Price Indices, a key step in allowing airlines to manage revenue volatility. Through building the world’s largest air ticketing database, the firm has developed a set of regulated benchmarks based on US$ per Revenue Passenger Kilometre ($/RPK). This represents the price of air travel [...]
Royal Mail appoints former Apple exec as new boss January 11, 2021 Royal Mail has this morning announced that director Simon Thompson will become its new chief executive. The former Apple executive will move into the top seat today, with interim chief Stuart Simpson to leave at the end of January. Simpson has been managing the firm on a temporary basis since May, when Rico Black quit. [...]
Democrats to kick off bid to remove Trump from office January 11, 2021 The Democratic Party will today kick off attempts to remove President Donald Trump from office after last week’s riots at the US Capitol. Yesterday Speaker of the House Nancy Pelosi wrote to fellow party members setting out the plans. “In protecting our Constitution and our Democracy, we will act with urgency, because this President represents [...]
The City View: Chancellor of the Exchequer Rishi Sunak January 11, 2021 The City View is back for 2021 with a new format, a new host and a very special guest, with City A.M.’s Andy Silvester talking to Chancellor of the Exchequer Rishi Sunak. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS The pair discuss the Government’s response to the pandemic, the future of cities and whether the work-from-home [...]
BDO: Business output fell to lowest levels on record in 2020 January 10, 2021 UK business output fell to its lowest ever levels in 2020 due to the coronavirus pandemic, a new survey by accountants BDO has found. BDO’s output index averaged 73.62 last year, the lowest figure since the measure was introduced in 2005. Previously, the lowest annual average had been 83.28, which was recorded during 2009’s financial [...]
