Markets live: FTSE 100 and US stocks drop sharply as US-China tensions flare July 24, 2020 The FTSE 100 and US stocks fell after US-China relations soured and rising coronavirus cases threatened the global economic recovery. London’s blue-chip index closed 1.4 per cent lower at 6,124 points, despite some better-than-expected economic data. The FTSE 250 closed 1.3 per cent down. Read more: Asian shares retreat as US-China tensions sour Germany’s Dax [...]
BA owner IAG mulls €2.75bn raise by ‘end of summer’ July 24, 2020 British Airways owner IAG is mulling for a share issue worth up to £2.75bn (£2.4bn) at the end of the summer. The plans to raise equity come as the airline group takes steps to shore up its finances in light of the coronavirus pandemic, which has battered the global aviation sector. In a regulatory notice [...]
BA pilots urged to accept pay cuts by union to save jobs July 23, 2020 Pilots union Balpa has advised members at British Airways (BA) to accept conditions that might avert 1,255 job losses, saying the new deal is “the best that can be achieved in the circumstances”. The union has been in negotiations with the UK’s flag carrier for almost three months, and said it was devastated that there [...]
How badly will the UK unemployment rate spike when furlough ends? July 22, 2020 Chancellor Rishi Sunak’s furlough scheme has so far saved the UK unemployment rate from sharp increases during the coronavirus lockdown, but it is drawing to an end. Consequently job losses are set to spike after furlough concludes in October, according to economists. Currently the government is paying 80 per cent of over 9m British workers’ [...]
Global airlines join forces to call for restart to transatlantic flights July 22, 2020 A number of the world’s largest airlines have come together to call for a joint coronavirus testing programme between the EU and US to get transatlantic air travel going again. In a letter to US vice president Mike Pence and EU commissioner for home affairs Ylva Johansson, airline executives asked for “the safe and swift [...]
Uber to assist officials with coronavirus test and trace scheme July 20, 2020 Uber has launched a service to give health officials access to data on its drivers and riders as part of coronavirus test and trace schemes. Offered free of charge in any country where Uber currently operates, the service will provide health departments with data about who used Uber’s services and when, and allows health agencies [...]
Airlines call on Rishi Sunak to waive passenger tax for 12 months July 20, 2020 The UK’s airlines have renewed calls for a 12-month waiver from paying Air Passenger Duty (APD) in a bid to protect the industry from damage from the coronavirus crisis. A new survey from industry body Airlines UK has found that without such a waiver, 600 air routes will be lost in the short-term, as well [...]
British Airways retires entire fleet of Boeing 747 jumbo jets July 17, 2020 British Airways marked the end of an era today as the world’s largest operator of Boeing 747s said it will retire its entire fleet of jumbo jets with immediate effect due to the coronavirus pandemic. Global travel bans imposed to stem the spread of the virus has put the future of many airline companies in [...]
Contact tracing is a legal minefield for businesses July 17, 2020 In the age of Big Data, where the always-on digital assistant and ever more intrusive geo-tracking technology reign, it is perhaps inevitable that our efforts to control Covid-19 seem to depend on developing technology to monitor individuals’ movements. Every wave of innovation that has birthed these technologies has brought with it fresh regulatory concern. The [...]
Centrica staff may have to sign new contracts or risk more redundancies July 16, 2020 Workers at British Gas owner Centrica have been told they may have to accept new employment conditions or risk having their jobs cut. It was reported that the services firm has told employees to sign new contracts or risk a second wave of redundancies. Last month Centrica announced that it would slash 5,000 jobs in [...]