Ken offers a fare cut as Boris pushes investment March 26, 2012 Transport has become the defining issue of this mayoral campaign, with voters facing the choice between one candidate that promises a fare cut and another that says fare rises are a necessary evil to fund investment. Ken Livingstone’s campaign experienced a surge in support after he set out the “Fare Deal” pledge to cut the [...]
Qantas to set up budget airline March 26, 2012 China Eastern Airlines has joined with Australia’s Qantas to set up a regional low-cost carrier, marking the first move by a big Chinese airline into the growing but overcrowded no-frills sector. China’s third-largest airline by market value and Australia’s top carrier will invest up to $198m over three years in the equal joint venture, which [...]
Lufthansa hit by strike action March 26, 2012 German airline Lufthansa has warned passengers that up to 400 flights will be cancelled today as ground handlers at Germany’s largest airports go on strike. Ground handlers in Frankfurt, the country’s biggest hub, are set to walk out this morning, while Cologne, Munich and Stuttgart will also be hit by industrial action. Workers in the [...]
UK Vauxhall plant still at risk March 26, 2012 Unions fighting to keep Opel’s European plants open have said they will not engage in plant-by-plant negotiations in talks over parent firm General Motors’ restructuring. The Vauxhall factory at Ellesemere Port in Cheshire, which employs 2,100 people, is among the sites at risk in an overhaul that insiders say could cost 30 per cent of [...]
Spain vows to press ahead with reform March 26, 2012 SPAIN’S reforming Prime Minister was yesterday forced to reiterate his commitment to slashing the budget deficit and shaking up the economy after facing setback in regional elections. Mariano Rajoy had hoped his centre-right party would gain an absolute majority for the first time in Andalucia, but only won 50 of the region’s 109 seats. A [...]
Confidence surge in Italy and Germany March 26, 2012 HOPE returned to firms and consumers in the Eurozone in March, with survey data showing increasing confidence in Germany and Italy. Shares rose on the upbeat stats, with the DAX up 1.2 per cent and the Eurostoxx 50 up 0.57 per cent. German business sentiment rose for the fifth month in a row to 109.8, [...]
Bank of England: Britain gained from the Fed’s QE March 26, 2012 AMERICA’S money printing cut the cost of borrowing for the UK government, according to research published by the Bank of England today. Although the aim of the US Federal Reserve’s quantitative easing (QE) programmes were to lower long term interest rates in the US and so boost economic growth there, the study revealed spillover effects [...]
Rental sector needs million new homes March 26, 2012 AN EXTRA one million new homes are needed for Britain’s rental sector, a survey revealed this morning, as a shortage of properties sends costs rocketing for tenants. Rents have shot up by an average of 5.2 per cent over the last year, with Savills expecting an eye-watering 20 per cent spike over the next five [...]
Border Agency slammed for big flaws in student system March 26, 2012 THE UK Border Agency was slammed by the government’s watchdog this morning, over its implementation of new rules on foreign students coming to Britain. Labour MP Margaret Hodge, chair of the committee of public accounts, said: “This is one of the most shocking reports of poor management leading to abuse that I have seen.” Before [...]
Inflation expectations for this year are steady at 2.7 per cent March 26, 2012 INFLATION is expected to stay above the Bank of England’s two per cent target in the coming year, according to a YouGov survey released yesterday. Expectations in March eased down slightly to a median rate of 2.7 per cent, from 2.8 per cent in February. Predicted price pressures remain well below the mid-2011 peak of [...]
