Jet2 cancels all flights and holidays until June 23 due to travel ‘uncertainty’ April 9, 2021 Holiday group Jet2 has this morning cancelled all of its flights and holidays until 23 June, blaming the government for the “uncertainty” surrounding the travel industry. In a statement, chief executive Steve Heapy said: “We are trying to run a business so that we can take customers away, but we need the Government to provide [...]
Tui to raise €350m from bond issue ahead of critical summer April 9, 2021 Holiday giant Tui today announced that it would raise €350m (£303.7m) through a bond issue as the quest to bolster its coronavirus-battered finances continues. The Anglo-German giant has already been on the receiving end of three bailouts from the German government, totalling €4.8bn. The offer of senior unsecured bonds, due in 2028, can be increased [...]
Gupta says ‘aggressive’ creditors threaten steel jobs April 9, 2021 Sanjeev Gupta has today hit out at that the “aggressive tactics” of his steel empire’s creditors were putting tens of thousands of jobs at risk. Since the collapse of supply chain financiers Greensill, Gupta’s GFG Alliance has been teetering on the brink of insolvency, having had a £170m bailout bid rejected by ministers. The firm, [...]
IT weight mix-up leads to ‘serious incident’ on Tui flight April 8, 2021 A flaw in one of its IT systems saw a Tui flight take off with the wrong weight calculations after female passengers using the title “Miss” were registered as children. The error, which took place on a flight from Birmingham Airport to Majorca on 21 July last year has been labelled a “serious incident” by [...]
Virgin Voyages to launch in UK for vaccinated passengers April 8, 2021 Virgin Voyages has today announced that it will finally launch its long-delayed debut cruises this summer – but only for fully vaccinated passengers. The firm, which only caters to adult passengers, will offer six trips in UK waters, starting from Portsmouth, from August. Passengers aboard the Scarlet Lady can opt for either a three or [...]
Rolls-Royce hails best ever opening quarter for car sales April 8, 2021 Rolls-Royce sold the most cars it ever has in the first quarter of the year in 2021, the luxury car brand announced today. The marque sold 1,380 cars in the first three months of the year, up 62 per cent on last year. Sales came in ahead of 2019’s total, Rolls-Royce’s previous record first quarter. [...]
UK PMIs: Construction activity grows at fastest rate since 2014 April 8, 2021 Construction output grew at the fastest rate in six and a half years in March as a combination of delayed projects getting the go-ahead and a boost in housebuilding spurred on the industry. IHS Markit’s construction Purchasing Managers Index registered 61.7 last month, a sharp increase from a reading of 53.3 in February. The latest [...]
National Grid pays watchdog £1.5m after inaccurate electricity forecasts April 8, 2021 National Grid Electricity System Operator (ESO) will pay Ofgem £1.5m after failing to provide accurate electricity demand forecasts back in 2017. One of the key roles of the firm, which is responsible for the transmission of electricity across the UK’s networks, is to provide suppliers with seven day forecasts for power demand. However back in [...]
God vs Goldman Sachs: Justin Welby slams ‘unethical’ work practices April 8, 2021 The Archbishop of Canterbury has this morning slammed Goldman Sachs over its treatment of junior staff after it emerged that some employees had been working an average of 100 hours a week. Since its “inhumane” workplace practices were made public last month, the Wall Street bank has faced severe criticism on several fronts. Speaking to [...]
SSE and Equinor join forces to develop low-emission power stations on the Humber April 8, 2021 Energy giants SSE and Equinor will join forces to build two new low-emission power stations on Humberside, continuing the recent stream of investment into the north-east. Under the proposals, one of the power stations will be fuelled by natural gas but fitted with carbon capture and storage (CCS) technology to remove its emissions. The other [...]
