UK pension funding deficits remain at nearly one-third of UK GDP, despite recovery of £50bn in November December 1, 2016 A £50bn improvement in the deficit of defined benefit pension funds in November 2016 failed to offset declines earlier in the year, leaving the total deficit at £580bn. The deficit is still over £100bn higher since the start of the year, according to PwC’s Skyval Index. Deficits have leapt since Spring after asset value growth failed to [...]
As Tube strike causes chaos for the capital’s commuters, more travel headaches are on the cards January 9, 2017 A 24-hour Tube strike started yesterday evening, marking the first action in a week of more travel turmoil for travellers – and the action could be set to spread. The Transport Salaried Staffs’ Association refused a last-ditch offer yesterday, which had already been dismissed by the Rail, Maritime and Transport (RMT) union. As a result, [...]
Eh? Rolls-Royce and Game are among the 25 best UK companies to work for. Supposedly. November 23, 2016 An engineering giant which has issued a string of profit warnings, two retailers which recently came out of administration and a bank which was the centre of a major scandal this year are among UK employees' 25 favourite companies to work for, according to new research. Rolls-Royce came top of jobsite Indeed's Top Employers in Britain list. The [...]
At the close: FTSE 100 trembling ahead of US election week November 4, 2016 By this time next week Donald Trump could be President of the U.S.A. And the uncertainty has seen the FTSE 100 feel the impact. It fell by over 1.4 per cent by the close as the election jitters take hold of traders. Healthcare stocks, which are particularly sensitive to developments in the presidential race, were hit. Hikma Parmaceuticals [...]
Here’s what Richard Branson’s new supersonic passenger aircraft will look like November 16, 2016 Sir Richard Branson has unveiled the prototype of his supersonic passenger aircraft, and it's pretty snazzy. The Virgin Group founder has teamed up with US startup Boom to build a new generation of supersonic jets which will deliver 3.5 hour flights from London to New York for an "affordable" $5,000 return. It will bring in [...]
The world-famous ski resorts of Vail and Breckenridge are enjoying huge investment. We head up into the Rockies to investigate March 3, 2017 So famous are the Back Bowls of Vail in the skiing world that, this being America, you would expect them to be trademarked. To anyone who loves the rush of downhill skiing, these giant geological saucers 3.5 kilometres up the Rocky Mountains of Colorado, are the Holy Grail of winter sports. In size and scale [...]
Last surviving WWI submarine hunter looks doomed for scrap after failing to secure Autumn Statement funding November 24, 2016 The HMS President's fate is looking uncertain, after a bid for Libor funding was turned down in Philip Hammond's Autumn Statement. Now she faces the prospect of being scrapped in the coming weeks. A parliamentary motion was submitted in an effort to signpost its value as a heritage site as one of the UK's last three [...]
EasyJet and Norwegian passenger numbers soared in October November 4, 2016 EasyJet said passenger numbers rose 6.9 per cent last month, but the load factor dropped, while Norwegian reported 16 per cent growth for the month. The low-cost giant said passenger numbers rose 6.9 per cent to just over 6.84m, but the load factor was down from 93.3 per cent to 90.2 per cent. On a rolling 12-month [...]
British Airways owner IAG has launched a €1bn convertible bond for Aer Lingus acquisition November 12, 2015 British Airways owner International Consolidated Airlines Group (IAG) has launched a €1bn (£706m) convertible bond to help fund its acquisition of Aer Lingus. The unsecured bond is split into two: a €500m offering redeemable in 2020, and €500m in 2022, and can be converted into ordinary shares priced at a premium. The five-year bond will yield [...]
FTSE 100 dips again as sterling recovers some strength October 12, 2016 What a difference a day makes. Having hit a record high yesterday, the FTSE 100 started this morning in negative territory. The index fell 0.5 per cent to 7,032 points in early trading, having reached the heady heights of 7,127 yesterday – above the record high of 7,122 points it set in April 2015 (although it later closed slightly lower). It [...]