BA owner IAG expects £1bn profit due to strong summer October 13, 2022 British Airways’ owner IAG expects its pre-exceptional operating profit for the third quarter to be around €1.2bn (£1bn) after better than expected trading. The airline consortium said strong passenger revenue drove profits while forward bookings remained at expected levels, showing no signs of slowing down. Shares went up as high as 10 per cent following [...]
The Inflation Game: War, Peace and the Perils of Central Banking October 13, 2022 The descent is always more sudden than the increase; a balloon that has been punctured does not deflate in an orderly way. — John Kenneth Galbraith I travelled with my family to London and Normandy in July 2022. Our primary purpose was to meet up in France with my father-in-law, who had dreamed of visiting the [...]
Winds of change blow over TfL in management revamp October 13, 2022 Winds of change are blowing over TfL as the public body announced the appointment of two new members of its management team. Current Crossrail chief finance officer Rachel McLean will take over as managing CFO at the end of October while financial director Patrick Hoig will remain as statutory chief finance officer. TfL’s director of management [...]
Alphawave inks £215m deal for Israeli processing chip developer October 13, 2022 Connectivity infrastructure company Alphawave has inked a $240m (£215m) deal for an Israeli processing chip developer, which makes semiconductors powerful enough to help data centres run. The deal for Bainas Labs strengthens Alphawave’s silicon products in its digital signal processing division, the company said in a statement this morning, as it looks to double down [...]
Ofwat close Yorkshire Water case after shareholders cough up £100m to reduce storm overflows October 13, 2022 Ofwat has closed its case against Yorkshire Water, after it agreed to recover £1bn loans and shareholders committed £100m to reduce spills.
Bitcoin and Ethereum resilient as altcoins stumble October 13, 2022 Bitcoin is trading around $19,000 this morning, down 0.68% from yesterday. Ethereum is down 1.55% on the day, changing hands for $1,277.
Cleverly blasts Tory MPs for attacking Truss and wanting ‘quotable tweets’ October 13, 2022 Britain’s foreign secretary James Cleverly has hit out at Conservative rebels for publicly criticising Liz Truss over her spending plans, accusing them of being concerned with “having quotable tweets”. Cleverly’s comments comes after Tory MPs began to publicly call into question Liz Truss’ policies yesterday. A frenetic meeting of the backbench 1922 Committee last night [...]
Commons snapshot: a rather stiff parliamentary to-and-fro on energy October 13, 2022 The back-and-forth in the Commons yesterday between Liz Truss and Keir Starmer was like a ping-pong match – a rather boring one. The leader of the opposition accused the PM of favouring the rich and making working people “pay the bill”. He said her party was “lost in denial”. Truss, on her part, sounded stiff. [...]
Easyjet to post loss for third consecutive year despite strong summer October 13, 2022 Easyjet is expected to post a loss for the third consecutive year, despite increasing earnings over the busy summer quarter. The low-cost carrier said that, for the year ended 30 September, losses are expected to be in the £170m-£190m range as a result of travel disruption experienced over the last few months. In a trading [...]
Lloyds and Aon team up to build customer resilience to Ukraine conflict October 13, 2022 The insurance industry must help customers build resiliencethe Russian invasion Ukraine, according to new research from Lloyd’s and Aon.
