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 [...]
Four challenges facing new BA owner IAG’s boss Luis Gallego September 8, 2020 Taking over a multinational corporation is a daunting prospect even at the best of times, but when the corporation is in a sector that is currently undergoing its worst ever crisis, the challenge takes on several extra layers of difficulty. That’s the situation facing Luis Gallego, the 51-year-old Spaniard who today takes over the reins [...]
Experian clashes with watchdog over personal data use October 27, 2020 Experian has clashed with the UK data watchdog over an order requiring the credit reference agency to make fundamental changes to the way it handles customer data. The Information Commissioner’s Office (ICO) today published the findings of a two-year investigation into Experian, Equifax and Transunion over how they use personal data for direct marketing purposes. [...]
Wall Street and FTSE surge as US stimulus and Brexit deal lift sentiment December 29, 2020 Wall Street hit fresh highs and the FTSE 100 posted strong gains today as investor confidence mounts in the final days of the year. The S&P 500 and Dow Jones were up 0.49 per cent and 0.57 per cent respectively as markets opened this afternoon. The Nasdaq also gained 0.42 per cent. Read more: Wall [...]
Coronavirus safety measures risk ‘immeasurable damage’ to economy, says travel boss June 18, 2020 The economy faces “immeasurable” damage if the government veers too far towards medical safety measures to to protect agains the coronavirus pandemic, according to the boss of travel industry association ABTA. Speaking on City A.M’s The City View podcast this morning, Mark Tanzer gave a grim assessment of the problems facing Britain’s travel industry. He [...]
English airports will close without government support, AOA warns November 6, 2020 The Airport Operators Association (AOA) has written to the Prime Minister to call for urgent support to help protect airports following restrictions on international travel announced as a part of England’s second national lockdown. In a letter to Boris Johnson the trade body said airports would like to remain open throughout the lockdown, but without [...]
British Airways-owner International Airlines Group rules out new bid for Norwegian Air January 24, 2019 British Airways owner International Airlines Group (IAG) will not make an another offer to buy Norwegian Airl and announced it will sell its remaining stake in the company. Norwegian’s share price fell as much as 26 per cent – the lowest level since 2012 – on the news that a potential deal is off the table. [...]
Scottish MP submits bill to block BA’s ‘fire and rehire’ plans June 10, 2020 SNP MP Gavin Newlands has submitted an emergency bill to the House of Commons which would prevent firms using controversial “fire and rehire” tactics on their employees. The decision to bring forward the bill comes after it was claimed that British Airways (BA) was planning on making all 42,000 of its staff redundant and then [...]
Pfizer boss sold $5.6m in stocks on day of vaccine announcement November 12, 2020 Pfizer’s chief executive sold shares worth more than $5.6m (£4.2m) on the same day the US drugmaker made the breakthrough announcement that its coronavirus vaccine was 90 per cent effective. Albert Bourla sold more than 130,000 shares on Monday as part of scheduled plans to offload some of his stake in Pfizer, according to a [...]
UK capital raising hits decade-high amid coronavirus crisis November 25, 2020 The coronavirus pandemic has driven UK companies to raise the most money on public markets in a decade, with firms scrambling for cash returning to traditional fundraising methods, analysis shared exclusively with City A.M. has shown. Listed companies have raised more than £26bn this year from London Stock Exchange’s (LSE) main and AIM markets, analysis [...]