EasyJet teams up with US start-up Wright Electric to get electric plane plans underway September 27, 2017 EasyJet is looking to charge up its electric credentials in a tie-up with US company Wright Electric to develop passenger aircraft powered by electric batteries. The low-cost carrier wants the planes to fly passengers on its short-haul routes. The airline’s interest in the US start-up, which was founded last year, emerged in March, with Wright [...]
EasyJet’s electric plane plans are taking off with start-up Wright Electric: Here’s how the aircraft will look September 27, 2017 EasyJet is looking to charge up its electric credentials in a tie-up with US company Wright Electric to develop passenger aircraft powered by electric batteries. The low-cost carrier wants the planes to fly passengers on its short-haul routes. The airline's interest in the US start-up, which was founded last year, emerged in March, with Wright [...]
EasyJet submits offer to acquire part of insolvent Air Berlin September 15, 2017 Budget airline EasyJet has this afternoon announced a proposal to take over parts of Air Berlin’s short haul business. EasyJet submitted the suggestions to the firm overseeing Air Berlin’s insolvency, saying they were “consistent with EasyJet’s focused, city-based strategy in Germany”. Read more: Air Berlin plans to agree asset sale deals with at least two [...]
Ukraine’s central bank pulls plug on PwC bank audit rights over PrivatBank’s balance sheet hole July 20, 2017 The National Bank of Ukraine (NBU) announced today that it had pulled the plug on PwC’s domestic bank auditing rights, after it had failed to identify a $5bn (£3.9bn) balance-sheet hole at the country’s largest lender in previous audits. It comes after last December’s state takeover of PrivatBank by the NBU, in a move aimed [...]
Top law firms feel the heat as clients are delaying payment by an average of 130 days, says a study from Edward Drummond July 11, 2017 Top UK law firms are having to wait an average of 130 days to get paid by clients for their work, a new study has revealed. The data, collated by executive search and market research firm Edward Drummond, shows that this payment period for the 100 highest-ranked firms was 19 per cent longer than the [...]
Clydesdale Bank is being sued by RGL Management on behalf of firms who took out tailored business loans (TBLs) July 7, 2017 Clydesdale Bank (CYBG) is being sued by RGL Management on behalf of companies who took out tailored business loans (TBLs) between 2002 and 2012. RGL, group that intiates and builds cases in large, complex multi-party commercial legal actions, said more than 6,000 small businesses “have legitimate grounds to join this action”. According to RGL, more [...]
Where things stand one year after BHS went into administration April 25, 2017 BHS was almost 90 years old when it went into administration a year ago today, but all that remains of its legacy now is a string of empty shops and an online store. When retail tycoon Sir Philip Green sold the chain for just £1 to serial bankrupt Dominic Chappell in 2015, he set off [...]
Trouble in store: More pain on the way for UK retail April 10, 2017 A triple-blow of tax hikes, rising costs and a squeeze on consumer spending is threatening to wipe out thousands of British retailers, with a string of familiar high street names expected to fall into administration this year. Nearly 23,000 retailers were under significant financial stress at the end of the first quarter according to insolvency [...]
Sir Philip Green’s knighthood still under threat despite his £360m payout to ease BHS pensions black hole March 21, 2017 Sir Philip Green's knighthood is still under threat despite his unprecedented £363m cash contribution to the BHS pension scheme. In a symbolic move, MPs voted to strip Green of his knighthood in October 2016. Earlier in the year one MP called him the “unacceptable face of capitalism” for his part in the collapse of BHS. However, [...]
Mario Draghi says Eurozone should make it easier for companies to fail to boost productivity March 13, 2017 European Central Bank (ECB) president Mario Draghi has said the Eurozone should make it easier for companies to fail in order to allow stuttering productivity in the region to accelerate, while his criticised the deregulatory impulses of Donald Trump in a thinly veiled attack. He said: “Ensuring that failed firms are able to smoothly exit [...]