Easyjet accused of spending £600m of taxpayer money on Airbus deal April 8, 2020 Easyjet founder Sir Stelios Haji-Ioannou has once again lashed out at the firm, saying the carrier’s receipt of £600m in loans from the government “could be the biggest scandal in British corporate history”. The Greek-Cypriot businessman has pressured Easyjet’s board to scrap a £4.5bn order for 107 new planes from Airbus. Haji-Ioannou believes cancelling the [...]
Tour operator On the Beach cancels dividend and withdraws guidance April 8, 2020 Travel operator On the Beach has cancelled its dividend and withdrawn guidance for 2020 as part of a raft of measures to protect the firm against the coronavirus outbreak. In addition, chief executive Simon Cooper will forego his salary, whilst the rest of the tour firm’s board will take a 20 per cent pay cut. [...]
Coronavirus: Car insurers set to make £1bn as claims drop 50 per cent April 7, 2020 The UK’s largest motor insurance firms are set to make £1bn from the coronavirus shutdown, as a huge decline in the number of journeys being made has seen claims drop 50 per cent for some firms. Under government regulations, car owners are required to keep their cars insured at all times, regardless of how much [...]
Coronavirus: Global airlines warn that up to 25m jobs at risk April 7, 2020 Aviation industry body the International Air Transport Association has said that up to 25m jobs could be at risk due to the global slump in travel as a result of the coronavirus outbreak. According to IATA chief executive Alexandre de Juniac, worldwide demand has slumped 70 per cent due to the crisis, with the figure [...]
Coronavirus: Rail journeys fall 95 per cent as passengers heed travel restrictions April 7, 2020 New figures revealed today by the Department of Transport show that only a very small proportion of people in the UK are still travelling, suggesting the government’s lockdown measures are in the most part being observed. Speaking at a virtual meeting of the transport select committee, rail minister Chris Heaton-Harris said that rail journeys were [...]
Volkswagen fitted cars with emissions test ‘defeat devices’, High Court rules April 7, 2020 The High Court has ruled today in favour of thousands of consumers that Volkswagen used a “defeat device” on some of its diesel cars which was able to cheat emissions tests. The vehicles affected were sold under Volkswagen, Audi, Seat and Skoda brands and were fitted with an EA 189 diesel engine. The ruling by [...]
UK petrol prices near £1 on global oil market slump April 7, 2020 Petrol prices around the country have hit their lowest levels since 2016 as the prospect of fuel trading for £1 a litre grows more likely amid the global slump in oil prices. According to the Department of Business, Energy, and Industrial Strategy (BEIS), petrol is currently being sold for an average of £1.10 per litre, [...]
Easyjet founder threatens to sue bosses over Airbus contract April 7, 2020 Easyjet founder Sir Stelios Haji-Ioannou has threatened to sue the company’s board as the spat over a £4.5bn order of planes from Airbus rumbles on. The Greek-Cypriot businessman told the Telegraph that if any of the £300m the airline has spent in the last three weeks has gone to Airbus, “I will sue the directors [...]
Coronavirus: Japan declares state of emergency April 7, 2020 Japan Prime Minister Shinzo Abe has declared a state of emergency in capital Tokyo and six other major metropolitan areas in an attempt to fight new coronavirus cases. The measures, which will last a month, will cover around 44 per cent of Japan’s population. Speaking in parliament today, the Japanese premier said: “We have decided [...]
Pharma giant GSK takes $250m stake in firm to develop coronavirus vaccine April 7, 2020 Pharmaceuticals giant Glaxosmithkline (GSK) has taken a $250m (£202.7m) stake in an American biotech company in a collaborative effort to make a vaccine for Covid-19. Vir Biotechnology, of which GSK now owns a 6 per cent stake, specialises in the treatment of severe infectious diseases, and is looking to develop an antibody treatment for the [...]
