After year of pain, Virgin Atlantic exec looking forward to clearer skies March 15, 2021 It was the moment it felt like everyone had been waiting for. On 22 February, Boris Johnson told a cold and tired nation that international travel could be back on the cards from 17 May, prompting a mad rush of pale Brits booking their summer getaways despite pleas that it was too early to do [...]
Ministers ‘considering ban’ on new North Sea exploration March 14, 2021 The government is considering banning new licenses to explore for oil in the North Sea, in what could be the first death knell for the basin. Ministers are weighing up a number of options for the continental shelf, the Telegraph reported, including a ban on licenses from 2040 or a temporary pause in licenses. It [...]
British Airways to launch own ‘vaccine passport’ March 14, 2021 British Airways will launch its own digital “vaccine passport” in time for the return of international travel in May. Those who have had two doses of the coronavirus vaccine will be asked to log their details in BA’s existing app. The step is part of moves to entice people back to flying when the current [...]
BA to offer £33 Covid tests to passengers ahead of summer travel March 4, 2021 British Airways has formed a partnership with a Covid-19 testing supplier to provide tests to passengers ahead of their flight, the airline said today. In preparation for the expected summer travel boom, passengers can buy a testing kit for £33, which they can use abroad with the help of an advisor on video call. The [...]
British Airways dives to £4bn loss as flights reduced by two-thirds March 3, 2021 British Airways (BA) fell to a £3.9bn operating loss in 2020, owner IAG revealed today, more than half of the airlines group’s total loss for the year. According to the FTSE 100 firm’s annual reports, BA’s loss dwarved that of its stablemates Aer Lingus, Iberia and Vueling. These fell to losses of €563m, €1.4bn, and [...]
Budget 2021: Pensions lifetime allowance frozen for five years March 3, 2021 The pensions lifetime allowance will be frozen at its existing level until April 2026, in a move that effectively decreases its value when inflation is taken into account. The Chancellor today said the lifetime allowance would remain at its current £1,073,100 for the next five years, rather than increasing in line with inflation. The move [...]
Heathrow’s new pandemic tax pushes up flight prices February 28, 2021 Heathrow Airport has added a new charge on all outbound flights in a move that will make flights more expensive. The airport will be charging £8.90 extra to all outbound flights from April in what the airport is calling a United Kingdom Exceptional Regulatory Charge. It comes after Heathrow posted a £2bn annual loss earlier [...]
Kalifa review: Fintech industry welcomes ‘invaluable’ tech visa after Brexit February 26, 2021 Recommendations from the government-commissioned Kalifa review published today have been broadly welcomed by the fintech industry. The UK has been at the forefront of innovation in recent years – the sector is worth an estimated £11bn in revenue and represents 10 per cent of the global market. But the report, led by former Worldpay boss [...]
FTSE 100 falls as bond sell-off knocks equities February 26, 2021 The FTSE 100 fell this morning as equities were hit by a global sell-off in bonds due to growing concerns about rising inflation. London’s blue chip index was down 0.5 per cent at 6,618 points, along with the FTSE 250, which also fell 0.5 per cent. Despite the fall, the FTSE 100 is still set [...]
Jupiter Fund Management’s assets hit record high despite steep outflows February 26, 2021 Jupiter Fund Management reported record assets at year-end offsetting an increased level of outflows over the year. Assets under management (AUM) finished the year at £58.7bn, slightly ahead of the consensus £57.8bn. The fund manager was no doubt boosted by the defensive acquisition of Merian Global Investors for £390m last July, which added £16.6bn of [...]