Third of Easyjet pilot roles in UK at risk of redundancy June 30, 2020 Up to a third of Easyjet’s pilot roles are at risk of redundancy as the low-budget carrier seeks to cut costs after the coronavirus pandemic. The airline revealed today that it had begun consultation with pilots’ union Balpa over the plan to reduce its staff headcount by 30 per cent. The union said the cuts, [...]
Industry reacts as Boris Johnson lays out ‘New Deal’ recovery plan June 30, 2020 Boris Johnson has today laid out his vision for rebuilding the UK after the coronavirus pandemic, pledging to “build build build” to get Britain back on its feet. Citing US president Franklin D Roosevelt’s “New Deal” as a model for the plan, the prime minister unveiled £5bn in infrastructure investment and promised to “scythe through [...]
Geneva Motor Show 2021 cancelled and conference sold June 30, 2020 The organisers of the Geneva Motor Show have said that next year’s event will also be cancelled because of the coronavirus pandemic. The show, which was due to run between 4 and 14 March 2021, will no longer go ahead until 2022, the Salon International de l’Automobile said in a statement. Instead, organisers will now [...]
UK businesses borrow over £43bn to survive coronavirus June 30, 2020 The UK’s businesses have borrowed over £43bn so far in total to survive the coronavirus pandemic, new data from the Treasury has revealed. Despite the mammoth lending programme, the approval rate for the flagship coronavirus business interruption loans scheme (CBILS) is still lingering around 50 per cent. Of the 104,569 applications made for funding, 52,275 [...]
Shell to write off up to $22bn after oil price crash June 30, 2020 Oil giant Shell today warned that it would write off up to $22bn (£17.9bn) from the value of its assets after the spring’s oil price crash led the supermajor to adjust its long-term price forecasts. In a trading update, the Anglo-Dutch firm said that impairment charges of between $15bn to $22bn were expected in the [...]
Tui UK boss calls on ministers to give clarity over ‘air bridges’ June 30, 2020 The UK boss of Europe’s largest holiday company has called on the government to provide certainty on “air bridges” this week to allow Brits to go on holiday. Ministers are expected to provide further details of the plan this week, which will lift blanket 14-day quarantine measures for European countries such as France, Spain and [...]
Boris Johnson to ‘build, build, build’ UK back from coronavirus slump June 30, 2020 Boris Johnson will today pledge £5bn in fast-tracked infrastructure investment as he promises to “build, build, build” the UK’s economy out of the coronavirus crisis. Drawing inspiration from US president Franklin Delano Roosevelt’s “new deal” after the great depression of the 1930s, the Prime Minister will seek to create jobs and drive investment through a [...]
On the Beach revenue falls two-thirds as coronavirus kills holiday bookings June 30, 2020 Package holiday firm On the Beach today said that revenue had fallen two-thirds in the first half of the year due to the coronavirus pandemic. Prior to the onset of the virus, the group said that it had been trading well, moving into the space left by the collapsed Thomas Cook, with summer bookings up [...]
Coronavirus: Texas facing ‘very swift and dangerous turn’ as cases spike June 29, 2020 Texas governor Greg Abbott has warned that the coronavirus has taken a “very swift and dangerous turn” as the southern state suffered a serious spike in infections. Speaking yesterday, Abbott said that the number of confirmed cases per day had risen from around 2,000 to closer to 5,000. The surge in infections in the Lone [...]
Lookers reveals £19m hole in suspected fraud probe June 29, 2020 Troubled car dealership firm Lookers today said that it would make a £19m adjustment to its accounts in order “to correct overstatements in profitability over several years”. The dealership chain is having its accounts reviewed by Grant Thornton and Deloitte after identifying “potentially fraudulent transitions” this year. As a result of the probe, Lookers has [...]
