Tag: industry

Airline profits continue to be hit by higher oil costs

Airline profits continue to be hit by higher oil costs

The International Air Transport Association (IATA) has again revised its forecasts for the airline industry. The forecasts have been revised on the back of surging oil prices, according to the industry body, and could force some airlines out of business. Many airlines went bust when fuel prices rose in 2008. Oil prices reached a peak [...]

June 6, 2011 | 0 Comments More
Japanese catastrophes and Arab unrest leads to slowdown in air travel

Japanese catastrophes and Arab unrest leads to slowdown in air travel

The International Air Transport Association (IATA) has today reported a slump in premium air travel, attributed to the Japanese earthquake and tsunami and the political unrest in Libya and the Middle East. Passengers travelling business or first class on international routes were 2.9% higher on an annual basis in March, compared with a 7.8% rise [...]

May 16, 2011 | 0 Comments More
Card fraud continues to fall

Card fraud continues to fall

The UK Cards Association has today revealed that credit and debit card fraud continues to decline. According to the Association, fraud losses on UK credit and debit cards totalled £365.4 million in the 2010 year - a drop of 17% compared with 2009. The figure represented a 10-year low and compares with the record high [...]

March 9, 2011 | 0 Comments More
Airline profits will be hit by higher oil costs

Airline profits will be hit by higher oil costs

The International Air Transport Association (IATA) has again revised its forecasts for the airline industry. However, the forecasts have been revised on the back of surging oil prices, according to the industry body. IATA said global airlines will make a profit of $8.6 billion (£5.3 billion) for 2011 - down from the $9.1 billion it [...]

March 2, 2011 | 0 Comments More
UK car sales down for seventh straight month

UK car sales down for seventh straight month

The Society of Motor Manufacturers and Traders (SMMT) has today announced UK car sales fell by 11.5% in January compared with the same month in 2010. It represents the seventh consecutive monthly fall. The SMMT said the number of new cars sold in the month was 128,811. However, the fall was in line with the [...]

February 4, 2011 | 0 Comments More
Bank Governor supports breaking up banks

Bank Governor supports breaking up banks

Mervyn King, the Bank of England’s Governor, has expressed his support for breaking up banks - measures that would shake-up the UK’s banking industry. Mr King’s comments come shortly after the Independent Commission on Banking (ICB) said it was looking at ways to increase competition and choice among high street banks. One option could see [...]

October 26, 2010 | 1 Comment More
Thomas Cook and Co-operative travel agents to merge

Thomas Cook and Co-operative travel agents to merge

It has been announced today that high street travel agents, Thomas Cook and the Co-operative Group, are to merge their chain of travel agents. However, the deal will bring “inevitable“ job losses due to overlap within the two companies. The transaction will create a 1,200-branch network and will save more than £35 million a year [...]

October 8, 2010 | 0 Comments More
Tui Travel boosted by late summer bookings

Tui Travel boosted by late summer bookings

Tui Travel has provided an encouraging update today, providing a boost to investors with a 4.2% rise in its share price following the announcement. The company, which is the owner of Thomson, said UK bookings had risen by 5%, while the Nordic region experienced a 16% increase. The company said it had benefited from the [...]

October 5, 2010 | 0 Comments More
Independent Commission to consider breaking up big banks

Independent Commission to consider breaking up big banks

In a further massive shake-up of the UK’s banking industry, the Independent Commission on Banking (ICB) is looking at ways to increase competition and choice among high street banks. One option could see existing banking giants broken up and new names enter the industry. The ICB, which is headed by Sir John Vickers, was established [...]

September 24, 2010 | 0 Comments More
Global airlines recovering faster than anticipated

Global airlines recovering faster than anticipated

The International Air Transport Association (IATA) has today revised its forecasts for the airline industry and said the recovery had been “stronger and faster than anyone predicted”. According to the industry body, global airlines will make profits of $8.9 billion (£5.7 billion) in 2010. The figure is a sharp upward revision from the one it [...]

September 21, 2010 | 0 Comments More
Barclays rejects Government lending targets

Barclays rejects Government lending targets

According to a report in the Financial Times, British banking giant Barclays has refused to sign up to Government lending targets, suggesting they could encourage irresponsible lending. Steve Cooper, head of Barclays’ small business division, told the FT: “I’m not going to sign up to a target. I don’t want to create an expectation that [...]

August 13, 2010 | 0 Comments More
Reports provide cautious outlook for UK’s manufacturing industry

Reports provide cautious outlook for UK’s manufacturing industry

August 2, 2010 | 0 Comments More
Government withdraws investment for UK car industry

Government withdraws investment for UK car industry

Business Secretary Vince Cable has warned that the UK’s car industry will not receive any further funding from the Government. Mr Cable was speaking at a conference in London organised by trade body, the Society of Motor Manufacturers and Traders (SMMT). However, he said the industry is “incredibly important to the UK economy” and insisted [...]

July 1, 2010 | 0 Comments More
Ryanair returns to profit

Ryanair returns to profit

Budget airline Ryanair has today announced it returned to profit for the year to March after reporting its first annual loss a year ago. The airline unveiled pre-tax profits of €341 million (£289 million) for the year and said it intends to pay a one-off dividend to shareholders totalling €500 million - the first one [...]

June 1, 2010 | 0 Comments More
Car sales up 26.6% in March on year

Car sales up 26.6% in March on year

The Society of Motor Manufacturers and Traders (SMMT) has today announced UK car sales grew by 26.6% in March compared with the same month in 2009, yet again boosted by the Government’s scrappage scheme. The £400 million initiative, which was launched last May to boost the ailing car industry, paid drivers of cars at least [...]

April 8, 2010 | 0 Comments More
UK car production jumps in February

UK car production jumps in February

Figures published today by the Society of Motor Manufacturers and Traders (SMMT) revealed a sharp rise in UK car production for the month of February. Car production surged 62.7% against the same month a year ago and represents the fourth consecutive month that output has seen a year-on-year increase. The SMMT said there 97,255 cars [...]

March 18, 2010 | 0 Comments More
Consumers to save millions under new credit card protection

Consumers to save millions under new credit card protection

The Government-led crackdown on credit card companies is expected to save consumers around £300 million a year. The crackdown comes after the Government warned credit and store card firms to “clean up their act” after it launched a review of the industry in a consumer White Paper in July 2009. According to Prime Minister, Gordon [...]

March 15, 2010 | 0 Comments More
“Blue skies ahead”, say IATA

“Blue skies ahead”, say IATA

According to the International Air Transport Association (IATA), the global airline industry is improving, with both passenger and freight numbers expected to grow this year. In January, the industry body said 2009 saw the biggest decline in air passenger traffic since the aftermath of World War II. The global economic downturn had a devastating impact [...]

March 11, 2010 | 0 Comments More
UK car production up 65% on year

UK car production up 65% on year

Figures published today by the Society of Motor Manufacturers and Traders (SMMT) revealed a strong rise in UK car production for the month of January. Car production surged 64.8% against the same month a year ago - this represents the biggest year-on-year increase in monthly production since May 1976, according to the SMMT. The SMMT [...]

February 18, 2010 | 0 Comments More
Airline industry suffers worst ever year

Airline industry suffers worst ever year

The airline industry has been hit hard during the global economic downturn, which has led to a slump in demand for air travel with fewer people travelling. Many airlines went bust during the downturn, not just due to a fall in demand but also as a result of higher fuel prices. According to the International [...]

January 27, 2010 | 0 Comments More