Virgin Atlantic has said it will no longer carry out forced deportation flights for the Home Office June 30, 2018 Virgin Atlantic has said it will no longer carry out involuntary deportation flights for people deemed to be illegal immigrants. A spokesperson for the airline said it had already informed the Home Office of its decision, which was made “in the best interest of our customers and people”. The decision follows months of controversy following [...]
Last Week in the City: Markets Trumped by trade fears June 22, 2018 The week was dominated by trade war fears as Donald Trump said he would slap further tariffs on Chinese goods should there be any retaliatory measures. Despite this, Nasdaq hit a record high, although the Dow Jones Industrial Average erased all its gains in 2018 so far. The FTSE 100 fell 0.5% over the week [...]
Turbulent times ahead for Heathrow as hotel tycoon launches High Court claim June 17, 2018 A legal battle surrounding Heathrow has been launched by hotel tycoon Surinder Arora following disputes around a potential multi-storey car park. In a High Court claim which might have profound ramifications for the future of the airport hub, Arora and Heathrow are at loggerheads over development rights for parking. Read more: Easyjet says an expanded [...]
Easyjet says a third runway at Heathrow will mean lower fares and new routes June 12, 2018 Easyjet has said fares would drop by around a third if Heathrow is given the green light to expand. The budget airline said the contentious expansion of the airport would allow low-cost carriers to enter the airport for the first time, resulting in increased competition that would drive down fares for passengers. While also allowing [...]
British Airways-owner IAG in the spotlight over excessive exec pay June 12, 2018 British Airways-owner IAG has been criticised by a shareholder advisory group for excessive executive pay. Advisory group Pirc has recommended shareholders abstain on IAG’s remuneration report over concerns about excessive pay for its chief executive. Pirc said that the pay of chief executive officer (CEO) Willie Walsh was “unacceptable” when compared to an average employee, [...]
For King and Country: As Swaziland celebrates 50 years of independence, the king took to the stage to make an astonishing announcement June 8, 2018 Portraits of the Lion and the Great She Elephant — King Mswati III and his mother — stare down from the wall of the immigration office. The animal print pattern of the king’s tribal dress seems a world away from the border-bureaucracy of entry stamps and customs forms, but it’s part of the dichotomy of [...]
Graze backer Draper Esprit’s ‘funny’ profits on a par with Marks & Spencer May 25, 2018 A disruptive venture capital fund today said it was “funny” that it made the same profits as retail giant Marks & Spencer. Aim-quoted Draper Esprit, which has masterminded the growth of brands such as Graze, Revolut and Crowdcube, doubled annual profits to £65.3m. The firm’s primary portfolio value swelled 116 per cent to £243.5m generating [...]
EU official Henrik Hololei sounds warning on post-Brexit flights as time is ticking to secure a deal May 18, 2018 A European Union official has warned that time is ticking on sorting out the arrangement for post-Brexit flights between Britain and the bloc, Henrik Hololei, the director general for mobility and transport at the European Commission, said the effects on the aviation industry could be significant after 29 March, when Britain is set to leave [...]
FTSE roundup: Pearson pushes the blue chip index up as sterling shows signs of weakness May 4, 2018 The FTSE 100 index ended this week up 0.86 per cent on last Friday’s close, though it lost some of the gains made at Wednesday’s peak. Recovering publisher Pearson seemed to close the chapter on its all-too-regular profit warnings, saying at had seen a “good start” to the year. It led the blue chip index, [...]
Court of Appeal to hear British Airways’ challenge against pension trustee powers April 30, 2018 The Court of Appeal is gearing up hear the latest round of the bitter dispute between British Airways and its pension trustees over a new power granted by the trustees to award additional payments to staff. The high-profile case centres on the switch of public sector pension increases from the Retail Price Index (RPI) to [...]