British Airways owner IAG agrees new $1.8bn credit facility March 23, 2021 British Airways owner IAG took yet another step towards stabilising its finances today by announcing a new $1.8bn (£1.3bn) revolving credit facility. The new financing arrangement has been agreed with a number of banks and will be available for an initial three years, with the possibility of extension for two more years. As well as [...]
Wall Street opens in the red ahead of Fed chair testimony March 23, 2021 Wall Street ticked into the red this morning as energy and travel stocks slipped, while investors awaited remarks from Federal Reserve chair Jerome Powell on the health of the US economy. Powell will join US Treasury secretary Janet Yellen to provide testimony to US politicians in Congress later today. He is expected to say that the [...]
Airline shares sink on new law threatening £5,000 fines for holiday travel March 23, 2021 Airline shares sink on new law threatening £5,000 fines for holiday travel
Wall Street rallies on tech rebound as FTSE closes in the green March 22, 2021 Wall Street closed in the green on Monday as technology stocks rebounded from a recent selloff sparked by surging bond yields. The tech-heavy Nasdaq index closed up 1.2 per cent, while the S&P 500 and Dow Jones inched up 0.7 per cent and 0.2 per cent respectively. A sharp run-up in Treasury yields since mid-February [...]
Scottish Mortgage manager James Anderson to leave firm next year March 19, 2021 James Anderson has announced he will step down as manager of Scottish Mortgage Investment Trust next year after more than two decades at the helm. Baillie Gifford, which runs the investment trust, said Anderson will step down on 30 April 2022 and the trust’s co-manager Tom Slater, who joined in 2015, will continue to run [...]
British Airways considers selling its Heathrow HQ in homeworking shift March 19, 2021 British Airways said it was considering selling its headquarters as a switch to homeworking during the pandemic means it may no longer need so much office space. The potential sale of the building, first reported by the Financial Times, could boost the airline’s finances which have been hammered throughout the last year. The BA complex, [...]
British Airways owner IAG tops up survival bond issue to €1.2bn on increased demand March 18, 2021 British Airways owner IAG increases survival bond sale to €1.2bn on increased demand
Premier Oil swings to hefty loss in final results before Chrysaor merger March 18, 2021 Premier Oil swung to a $1.3bn pre-tax loss in its final set of results before its proposed merger with fellow North Sea firm Chrysaor completes. The FTSE 250 firm said that the loss was mostly driven by one-off charges, including $817m relating to the partial derecognition of Premier’s UK ring fence tax losses. It added [...]
EU plans Covid-19 certificate to allow travel for virus-free citizens: What does it mean for UK tourists? March 16, 2021 EU plans Covid-19 certificate to allow travel for citizens who can prove they're virus-free
Portugal removed from UK’s travel ban ‘red list’ in boost for summer holiday hopes March 16, 2021 Portugal will be removed from the UK’s travel ban list this week, in a boost for summer holiday hopes this year. The Department for Transport has updated its “red list” of destinations, which bars travellers from those countries entering the UK. British or Irish nationals are permitted to enter the country, but must quarantine in [...]