Ryanair boss Michael O’Leary: Voters were “lied to” by Brexit campaigners over staying in the Single Market January 8, 2017 Michael O'Leary hasn't shied away from criticism of Brexit, and has warned the impact on the airline industry could be substantial. He said people were promised they could leave the EU and stay in the Single Market. "It's now absolutely clear that they were lied to by the exiters. That offer is not on the [...]
Tui in talks with Swiss firm Kuoni and American companies KKR and Warburg Pincus over Travelopia sale January 8, 2017 Tour operator Tui is in talks with Swiss rival Kuoni and American buyout giants KKR and Warburg Pincus over the sale of a range of travel websites. In September of last year, Europe's biggest tour operator confirmed it had asked Citigroup to find a buyer for specialist holiday arm Travelopia in a deal potentially worth €500-600m (£428m-£514m). [...]
Private equity firm 3i mulls sale of retailer Hobbs for as much as £80m January 8, 2017 It could be a busy New Year for 3i. City A.M. understands the British private equity firm is looking to sell clothing brand Hobbs, which it has owned since 2004, for as much as £80m, with investment bank Rothschild being lined up to handle the auction. 3i declined to comment. The retailer undertook a strategic review of the [...]
Bad news commuters: A 24-hour Tube strike is going ahead from 6pm after unions reject last-ditch offer January 8, 2017 The Transport Salaried Staffs' Association (TSSA) has rejected a new offer on jobs from the London Underground in a bid to avoid a 24-hour strike. The union said its members are going ahead with the industrial action from 6pm on Sunday. It comes after the biggest rail union, the Rail, Maritime and Transport (RMT) union, [...]
Heathrow slashes passenger charges on domestic trips by £10 to honour expansion manifesto pledge January 1, 2017 Airlines flying to regional airports will now pay £10 less per passenger, Heathrow announced today. Starting today, departing domestic flight charges will fall more than 30 per cent to £19.13, and if the discount is passed onto travellers, the airport says they'll save over £500m over the next two decades. The cut is the biggest discount [...]
From Southern rail’s backfiring poster to Google’s April Fool prank gone wrong: Six of the most memorable business blunders of 2016 January 1, 2017 2016 has been an interesting year to say the least. There has of course been a plethora of notable political events over the past 12 months, but there’s also been plenty going on in the business world. With that in mind, here are some of the most memorable company clangers from over the year – from [...]
Say goodbye to the round pound as new 12-sided coin arrives in March January 1, 2017 The new 12-sided £1 coin – billed as "the most secure coin in the world" – will enter circulation on 28 March. The Royal Mint has unveiled the new circulating coin designs for the year with a pioneering theme linking them. The 12-sided £1 coin was designed by David Pearce and features the flora of the [...]
Archbishop of Canterbury wants reconciliation after Brexit divisions in the UK January 1, 2017 The Archbishop of Canterbury will use his New Year message to focus on encouraging Britons to bridge the divisions from the EU referendum. Justin Welby addresses the nation today and is expected to say: "Last year, we made a decision that will profoundly affect the future of our country – a decision made democratically by the [...]
Tax evasion enablers to be hit with new fines January 1, 2017 Bankers, lawyers, accountants and advisers who assist with tax evasion will be hit with new fines, as the government seeks to crack down on the behaviour. The changes were announced as part of the then Chancellor George Osborne's 2015 Budget, and come into force today. Those at fault will face fines of up to 100 per [...]
Theresa May vows to get “the right deal” for both Remainers and Leavers in Brexit negotiations January 1, 2017 The Prime Minister acknowledged the tensions surrounding the EU referendum in her first New Year message, but vowed to "get the right deal" for the whole country. Amid uncertainty over what type of deal the government will be pursuing in Britain's negotiations to leave the European Union and concern over a "hard Brexit", Theresa May [...]
