Just say no when it comes to pay holidays June 23, 2009 DEAR VEXED, with all this talk of firms asking to take a pay holiday, I am worried that my boss might ask me to work for free. I can’t afford it, but I’m worried that it might be a trick to test our loyalty. Help! Jessica, 26, broker The saying goes that there is one [...]
Virgin seals 1.3bn deal on birthday June 22, 2009 VIRGIN ATLANTIC splashed out on its 25th birthday yesterday with a $2.1bn (£1.28bn) deal, saying it would take delivery of 10 new Airbus A330-300 aircraft between now and 2012. The birthday goodies will allow the airline to expand while it waits for the delivery of Boeing’s troubled 787 Dreamliner. The planes, each seating up to [...]
BA’s all-business class City flights set for take off June 22, 2009 TROUBLED British Airways (BA) said yesterday it would go ahead with its all-business class London City to New York service, despite having reported record losses earlier this year. The service, which will begin on 29 September, sees each Airbus A318 plane take just 32 passengers over the Atlantic. The plane will stop in Ireland for [...]
THE LONDON REPORT June 22, 2009 THE FTSE 100 ended 2.6 per cent, or 111.88 points, lower at 4,234.05 yesterday as falling commodity prices pressured miners and oil majors. Bucking the trend, Anglo American was the biggest blue chip gainer, rising 4.6 per cent, after rival Xstrata said it wanted talks about a proposed merger of equals. Xstrata shed 6.7 per [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 21, 2009 THE SUNDAYSThe Sunday TelegraphBA CHIEF SNUBS SELECT COMMITTEEWillie Walsh, chief executive of British Airways, has refused to go before the House of Commons transport committee to give evidence on the future of aviation. The hearing, os scheduled for Wednesday next week – coincidentally the first day of the month that Walsh will work without pay [...]
Branson exits Brawn tie-up June 21, 2009 SIR Richard Branson’s Virgin Group will drop sponsorship of the Formula One (F1) team Brawn GP next year, the business magnate said yesterday, as it has become too expensive. “We got in when it was very cheap and it’s been great for us with global coverage, but I suspect next year the price will be [...]
Holidaying through rose-tinted spectacles June 21, 2009 BEACHES are what the Caribbean does best, and you’ll struggle to top the postcard perfection of Pink Sands in the Bahamas. Gazing out across the sand, it’s as though you’re seeing the world through rose-tinted spectacles, as the swathes of powder edging Harbour Island have a fantastical salmon-tinged hue. Crushed pinky shells of microscopic marine [...]
BA pilots to swap shares for a pay cut June 17, 2009 BRITISH Airways pilots have voted to accept shares worth £13m in exchange for taking a pay cut, as part of a deal to cut costs at the struggling airline by £26m a year. The arrangement is part of a draft agreement with all of BA’s 3,235 pilots, which will see them swap shares for a [...]
BA turbulence as staff asked to work for free June 16, 2009 THERE was further turbulence at British Airways (BA) yesterday after the airline asked its 40,000-strong staff to work without pay, as the company “fights for survival”. The flag carrier is desperately seeking to cut costs, having made record losses of £401m for 2008. Airlines across the globe are struggling as they deal with a slump [...]
Quality brands are becoming more popular again June 16, 2009 FOR a while we saw the march of the “value” brands, as the recession helped Aldi and co make advances on their more expensive rivals. The graph shows what actually happened to brand values. We have created two baskets of brands – seven associated with lower-end or “value-for-money’ (Aldi, Morrisons, Primark, Matalan, RyanAir, Walls, Subway), [...]