Jet2 raises £422m in fresh cash despite travel restrictions February 12, 2021 British holiday company Jet2 said this morning that it has raised £422m through a new share issue to bolster the company’s finances amid sustained restricted travel. Equal to 20 per cent of its share capital prior to the fundraise, the fundraiser comprised of over 35m placing shares and subscriptions for nearly 600,000 retail shares. “The [...]
Australia pushes ahead with online news laws despite Google threat February 12, 2021 Australia is pushing ahead with landmark legislation that will force tech giants to pay publishers for news, despite Google’s threat to pull out of the country. The government will introduce new draft laws next week and they could come into effect this month. If passed, the legislation would make Australia the first country to force [...]
Exclusive: Online retail sales record five years growth in 12 months due to pandemic February 12, 2021 Online retail sales recorded five years of growth in just 12 months as the coronavirus pandemic accelerated the shift to digital shopping, the latest research showed. E-commerce sales accounted for 19 per cent of retail spending in 2019 compared to 28 per cent 2020 after restrictions and lockdowns forced consumer spending online and away from [...]
O2 hit with £10.5m Ofcom fine after overcharging customers February 12, 2021 O2 has been slapped with a £10.5m fine after a billing error meant the mobile network overcharged thousands of customers. More than 250,000 customers were presented with inflated bills when they left the network due to a system error that doubled up some charges. Roughy 140,000 people actually paid the extra fees between 2011 and [...]
ONS: Pandemic impact cuts through all major sectors February 12, 2021 The ONS published sector figures for services, trade, construction and production output this morning. Services The Index of Services grew by 1.7 per cent between November and December last year. The largest contribution to monthly growth was accommodation and food service activities, rising by more than 25 per cent. In December, the Index of Services [...]
KPMG’s UK boss Bill Michael resigns after ‘moaning’ controversy February 12, 2021 KPMG UK chair Bill Michael has resigned after a video surfaced online of the boss telling staff to “stop moaning” and “playing the victim”. Michael was suspended as the Big Four firm launched an investigation into the comments, which were made during an online meeting with consultants. KPMG today confirmed he has resigned and will [...]
Lastminute.com threatened with legal action over unpaid package holiday refunds February 12, 2021 Travel platform Lastminute.com is facing legal action from the UK competition watchdog unless it repays customers whose package holidays have been cancelled due to the pandemic. The Competition and Markets Authority (CMA) warned the firm that it will take court action unless Lastminute processes the repayments – totalling £1m – within seven days. On 1 [...]
Tokyo 2020 chief quits after sexist remarks towards women February 12, 2021 Yoshiro Mori, chief of the Tokyo 2020 Olympics, resigned on Friday over sexist remarks that sparked a global outcry. The former Japanese prime minister received a backlash when he said during an Olympic committee meeting earlier this month that ‘women talk too much’. Mori’s resignation comes months before the postponed games are scheduled to begin, [...]
UK GDP suffers largest contraction on record in 2020 February 12, 2021 UK gross domestic product (GDP) contracted 9.9 per cent last year, marking the largest annual fall on record. Data from the Office for National Statistics showed UK GDP grew one per cent in the fourth quarter of the year due to recovery in government consumption and business investment as Covid restrictions eased. That followed 16.1 [...]
How Tokyo plans to stage a safe Olympics this year – and why cancellation remains the last resort February 12, 2021 In spite of the relatively upbeat mood music emanating from the corridors of the International Olympic Committee (IOC), nagging questions about whether the Games can be safely staged this summer have persisted. But the organisers of the world’s largest sporting event have now given the world the first concrete indications of how they propose to [...]
