Tag: closed

Australian airspace hit by Chilean ash cloud

Australian airspace hit by Chilean ash cloud

Australia’s flagship airline, Qantas, has been forced to suspend all flights to and from Canberra, Adelaide and Sydney because ash cloud from the Chilean volcano has drifted. The ash cloud from the Puyehue volcano, which erupted on 4 June, has once again moved into Australian airspace and is currently sitting at the same altitude that [...]

BAA: April passenger numbers down due to volcanic ash cloud

BAA: April passenger numbers down due to volcanic ash cloud

BAA has today reported a fall in passenger numbers at its six British airports, after the Icelandic volcanic ash cloud forced UK airspace to close. The volcano, located under the Eyjafjallajokull glacier about 100 miles east of the capital Reykjavik, erupted in the early hours of 14 April. The massive cloud of ash is a [...]

PPF: DB pension scheme deficit falls in December

PPF: DB pension scheme deficit falls in December

Figures released by the Pension Protection Fund (PPF) revealed an improvement in the UK’s 7,400 defined benefit (DB) schemes in December, with the collective deficit falling to £33 billion in December from £92.5 billion the previous month. The PPF said not only is this is an improvement on the month, it is significantly better than [...]

Report reveals more pension woes

Report reveals more pension woes

Fears over the future of final salary pension schemes has reared its ugly head again after a report from the Association of Consulting Actuaries (ACA) revealed that nine out of 10 such schemes are now closed to new members. The ACA, which questioned over 300 companies, found that employers continue to shy away from these [...]

Iceland stock exchange remains closed

Iceland stock exchange remains closed

Iceland had a disastrous week last week after the nationalisation of the country’s three largest banks. On Thursday, it announced that trading had been suspended on the OMX Nordic Exchange in a bid to prevent further crises. It was expected that the stock exchange would reopen today but it remains closed due to ‘unusual market [...]

Washington Mutual closed by regulators

Washington Mutual closed by regulators

Washington Mutual (WaMu) has been closed making it the largest failure of a US bank. WaMu’s assets have been sold to banking giant, JPMorgan Chase, for $1.9bn (£1 billion). WaMu was closed by the Federal Office of Thrift Supervision (OTS), and the Federal Deposit Insurance Corp (FDIC) has been appointed receiver. $16.7 billion of deposits [...]