Airline industry racked up £180bn collective net loss since pandemic December 1, 2022 The airline industry has racked up a collective net loss of almost $220bn (£180bn) since the Covid pandemic began, according to recent research. Analysis published today by analytics firm Cirium shows that revenues for the world’s airline groups went down by more than 50 per cent in 2020, ending 2021 still 40 per cent below [...]
Poor public health is weighing heavily on British economy, say doctors December 1, 2022 The poor health of the British public is weighing heavily on the economy as the country dives into a recession. Around 400,000 Brits are currently out of work due to long-term sickness, according to the latest from the Office for National Statistics. Next year, Britain will become the only developed country with fewer people in [...]
Sam Bankman-Fried: A tissue of lies soaked with fake tears? December 1, 2022 Sam Bankman-Fried agreed to a live interview - admittedly against the advice of his lawyers - during a New York Times event yesterday.
Joules bought out of insolvency by Next with 19 stores to close December 1, 2022 Next has bought fashion retailer Joules out of insolvency, beating other high street names in a bidding war. The high street chain called in administrators a few weeks ago, with 1,600 jobs hanging in the balance. Now, stalwart Next has confirmed it has emerged victorious in a battle for the brand, forking out £34m for [...]
Ofcom probes mobile phone firm’s steep in-contract price spikes December 1, 2022 Ofcom has launched an industry-wide probe into whether in-contract price rises were set out clearly enough by big telecom firms. After analysing customer complaints and preliminary evidence, the watchdog expressed concern that some companies had not been transparent enough about price spikes during customer contracts. Under Ofcom rules, providers must set out any future changes [...]
European jobs market defies expectations as unemployment hits record low December 1, 2022 The European jobs market is defying expectations and holding up well despite experts expecting the bloc to tip into a tough recession, fresh figures out today show. The proportion of people unemployed in the 19 countries using the euro dropped to a record low 6.5 per cent in October from 6.6 per cent in September, [...]
Ian Blackford to step down as SNP’s Westminster leader December 1, 2022 Ian Blackford has resigned as the Scottish National Party’s leader in Westminster, after he was effectively ousted by his own MPs. An SNP MP told City A.M. that Blackford “jumped before he was pushed”, after senior MPs told the 61-year-old that his time was up. The coup was led by Stephen Flynn, who is now [...]
Crypto still enjoys the backing of institutional investors December 1, 2022 If authoritarian Beijing has failed to stop Bitcoin – even in the current market – it will be almost impossible elsewhere, says Nigel Green.
Bird & Bird hikes new lawyers’ salaries for second time this year December 1, 2022 London law firm Bird & Bird has given its newly qualified (NQ) lawyers a pay hike for the second time this year. The law firm has given its NQ lawyers a five per cent pay rise in upping their annual pay to £92,400 per year, a Bird & Bird spokesperson told City A.M. The pay [...]
Ryanair to buy green aviation fuels from Shell but 2030 target remains unsure December 1, 2022 Ryanair is set to buy green fuels from Shell between 2025 and 2030 as part of its green push. The low-cost carrier today signed a memorandum of understanding, pledging to purchase as much as 360,000 tonnes of sustainable aviation fuel (SAF) by the end of the decade. According to Ryanair, the agreement will save up [...]
