Big banks plug $18m into Soho fintech Fidel September 25, 2019 The venture capital arms of Royal Bank of Canada and Citi have supported an $18m (£16.3m) funding round for Soho-headquartered fintech firm Fidel. The series A round was led by Nyca Partners and QED Investors, which have previously backed the likes of Zopa, Clearscore and Acorns. Transferwise founder Taavet Hinrikus and Commerce VC also supported [...]
Airlines accused of price gouging after Thomas Cook collapse September 24, 2019 Airlines have been accused of exploiting the demise of rival Thomas Cook after passengers complained of a huge increase in prices. Holidaymakers looking to book future trips have complained of a surge in fares on the same routes served by the collapsed travel firm. Read more: Thomas Cook: Former workers will not receive pay packets [...]
Thomas Cook collapse: Assets under the hammer as liquidators move in September 23, 2019 Collapsed airline Thomas Cook will be sold as a whole or in parts after it went into liquidation this morning, the firm’s second largest shareholder has said. Neset Kockar, boss of Turkish holiday group Anex Tour, owned a near-eight per cent stake in the travel giant when it went under. Read more: Tui share price soars [...]
Tui share price soars as rival Thomas Cook bites the dust September 23, 2019 Tui’s share price bumped up almost 10 per cent today after Thomas Cook fell into liquidation. Travel operator Tui saw shares rise just shy of 10 per cent before trimming gains to stand 7.7 per cent up at 903p in early trading as its rival collapsed under the weight of a £1.7bn debt mountain. Read [...]
British Airways reinstates half its flights for 27 September as pilots cancel strike September 20, 2019 British Airways has restored around half of the 800 flights originally scheduled for 27 September after pilots announced they will no longer be striking next Friday. The airline has announced that customers whose flights had been cancelled due to the intended strikes can now rebook onto these flights if they wish. Read more: BA pilots [...]
Watchdog probes West Coast rail franchise award to First Group and Trenitalia September 20, 2019 Britain’s competition watchdog has said it is investigating the award of the West Coast partnership to First Group and Trenitalia. The Competition and Markets Authority (CMA) is looking at whether the joint operation could lead to “a substantial lessening of competition within any market”. Read more: Saga profits slump The CMA is inviting comments on [...]
British Airways and the pilot strike: Are shared profits schemes the answer? September 20, 2019 British Airways’ operations ground to a halt last week due to a pilots’ strike. The airline’s flight crews argued that they should be rewarded with a cut of the company’s rising profits, having previously taken hits to their pay when BA struggled. While the pilots have called off a strike due to take place on [...]
British Airways pilots call off strike on 27 September September 18, 2019 British Airways pilots have called off a strike at the end of this month, warning more action could do “irreparable damage” to the airline’s brand. BA pilots who are members of the British Airline Pilots’ Association (Balpa) threatened to strike on 27 September in a row over pay and working conditions. They had walked out [...]
Virgin Atlantic ups IAG war with teaser for new routes at Heathrow September 18, 2019 Virgin Atlantic has upped the stakes in its face-off with British Airways owner IAG, unveiling a raft of new routes it will launch if it wins more slots at Heathrow airport. Virgin has said it intends to add 84 destinations to its map in the UK, Europe and internationally when the third runway is complete [...]
Digital battlegrounds: The war between big tech and regulators September 17, 2019 We now live in the age of the internet of things, where voice-sniffing devices abound, and consumers have the convenience of tailored search suggestions. Perhaps it is Amazon’s Alexa – revealed earlier this year to be forever listening to its users’ conversations – that provides the emblem of the age. However, while such devices can [...]