Lufthansa strike: Nearly 1,000 flights to be cancelled tomorrow as German airline cabin crew row continues November 8, 2015 More than 110,000 passengers will be affected after German airline giant Lufthansa said today it would cancel 929 flights due to a cabin crew strike tomorrow. The strike is part of a week of action organised by cabin crew union UFO to push demands in a long-running row over early retirement benefits and pensions. The [...]
Lonmin set to reveal record losses as it pins hopes on rescue rights issue amid low platinum prices November 8, 2015 Troubled mining company Lonmin is expected to reveal record losses tomorrow, when it publishes its annual results. The firm has warned that it is facing a $2bn (£1.3bn) writedown as the price of platinum could remain low in the short-to-medium term. It has come up with a plan to weather this storm, which includes possible [...]
Tata Steel criticised by small businesses after asking suppliers for 30 per cent price cut November 8, 2015 Embattled Tata Steel has drawn criticism from small businesses after asking suppliers to give it a massive price cut. According to the letter seen by the Sunday Telegraph, it has asked for an immediate 10 per cent cut which it plans to increase 30 per cent as it tries to pass on the effects of [...]
McLaren plans for 2016 rebound as it posts £20m loss in 2014 November 8, 2015 McLaren made a loss last year, according to financial results released this month. The company, which changed its name to McLaren Technology Group in January, turned over £265m in 2014 but ended up making a loss of £20m compared with a £23m profit in 2014. The name change was done to reflect the company’s foray [...]
In pictures: The Paris Airshow 2015 November 8, 2015 The Paris Air Show, which takes place in Le Bourget Airport, will see 120 civil and military aircraft take to the skies between 15 – 21 June. But that's not all. It brings together representatives from plane manufacturers, engine makers, defence personnel, luxury private carriers and airlines to get a number of deals signed off. Yesterday, [...]
Pimlico Plumbers founder Charlie Mullins warns UK skills shortage could dent expansion November 8, 2015 The founder of Pimlico Plumbers has warned that the UK lacks the skills needed for the industry's expansion, and that he will soon have to start recruiting from abroad. The London-based company, today reported sales of £5.5m from June to August – it’s quietest time of year – marking a 16.9 per cent climb on [...]
San Francisco Federal Reserve bank president John Williams says interest rate rise “makes sense” November 8, 2015 A top US central banker has said that a gradual increase in interest rates should be the "next step" if the country's economy continues to improve as expected. "I do think it makes sense to gradually remove the policy of accommodation that helped get the economy to where we are," San Francisco Federal Reserve Bank President [...]
Bill Gross says a December rate rise is “100 per cent” likely, after US jobs data exceed all predictions – here’s what other analysts think, too November 6, 2015 "Bond king" Bill Gross thinks a US December rate rise has just become practically certain, after US jobs data beat everyone's predictions. In October, the US added 271,000 jobs to its economy, way ahead of the 180,000 predicted and the highest monthly figure for the year so far. Meanwhile, unemployment fell to five per cent, from [...]
Here’s how Goldman Sachs wants to hang on to its millennial workers November 6, 2015 Goldman Sachs isn't known as the doting type – but it seems the investment banking giant has found a new, more maternal streak, after it outlined a series of measures to ensure its millennial workers go elsewhere. The bank has unveiled a range of initiatives to ensure its youngest employees aren't tempted to leave the [...]
UK trade deficit narrows in September, beating expectations November 6, 2015 What with all the shmoozing David Cameron, George Osborne et al have been doing with various prospective trade partners in recent weeks, this should raise a smile on Downing Street: the UK's trade deficit narrowed by £1.6bn between August and September. Figures by the Office for National Statistics suggested the trade deficit on goods fell to [...]
