Tag: British

Cruz leaves British Airways with unfinished business | Analysis

Ultimately it perhaps is not that surprising that the stepping down of IAG’s long-term group chief executive Willie Walsh should be followed by the departure of British Airways chief executive Alex Cruz.

Walsh stepped down as leader of BA parent IAG in September, after delaying his initial departure to help steer the group through the height of the pandemic.

Today IAG has announced the more hurried depature of Cruz, who will be replaced by Aer Lingus chief executive – and former BA executive – Sean Doyle. IAG says the move takes immediate effect – leaving corporate affairs chief Donal Moriarty in temporary charge of the Irish carrier while a successor for Doyle is found.

Alex-Cruz-BA-c-BillyPix

Walsh was a strong backer of former Vueling chief executive Cruz, whom he chose to succeed Keith Williams at the helm of BA in late 2016. Cruz came with a strong reputation as a modernising leader

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New British Airways First Class Suites Same Seat But With Closing Doors

There’s not much good news coming out of the airline industry these days. Many carriers have grounded large portions of their fleets, slashed flight schedules in response to travel restrictions and border closures, and even put up their frequent-flier programs as collateral for loans and bailouts. But at least one bright spot landed at London Heathrow Airport earlier this week in the form of a gleaming new first-class suite with closing doors aboard British Airways’ most recently delivered Boeing 777-300ER aircraft.

Last year, the airline began a much-needed update of its business-class cabins, starting with the Airbus A350-1000s joining its fleet, and followed by a refurbishment of some Boeing 777s, then the delivery of its first Boeing 787-10s earlier this year. Taking a cue from newer suite-style layouts with closing doors that can be found aboard competitors like

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Howden buys fellow British insurance broker A-Plan

LONDON (Reuters) – Howden Broking Group said on Wednesday it had bought fellow British insurance broker A-Plan Group at a valuation which David Howden, the chief executive of Howden’s parent company, described as being in the “high 600 million pounds”.

Broker Howden focuses on specialty commercial risk and reinsurance, while A-Plan, which sells insurance through brands including Endsleigh, focuses on personal and commercial lines such as motor, home and business liability.

The combined business will have more than 4 billion pounds ($5.1 billion) in gross written premium, the firms said in a statement.

Insurance brokers small and large have been consolidating in recent years. Aon AON.N is in the process of buying Willis Towers Watson WLTW.O for $30 billion to form the world’s largest insurance broker.

Howden, CEO of Howden parent Hyperion Insurance Group, told Reuters that given “what our clients require in terms of servicing, data technology… there’s no

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British business calls for green recovery, policies to meet net zero

FILE PHOTO: A tree is seen in a sun-dried and parched Clapham Common, during hot weather, amid the coronavirus (COVID-19) outbreak, in London, Britain August 12, 2020. REUTERS/Dylan Martinez

LONDON (Reuters) – Britain’s leading business group has called on the government to implement green measures to help the economy recover from the coronavirus pandemic, and bring forward policies to enable to country to meet its climate targets.

Britain last year set a target to reach net-zero emissions by 2050 but its economy is suffering from the effects of measures designed to slow the spread of the coronavirus.

Britain’s economy saw sharpest second-quarter fall of any Group of Seven nation in the April-June period.

“To ensure that the 2020s continue to be a decade of delivery on net zero there needs to be step-change in the pace of investment, supported by government,” the Confederation of British Industry (CBI) said in its

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British Business Calls for Green Recovery, Policies to Meet Net Zero | Investing News

LONDON (Reuters) – Britain’s leading business group has called on the government to implement green measures to help the economy recover from the coronavirus pandemic, and bring forward policies to enable to country to meet its climate targets.

Britain last year set a target to reach net-zero emissions by 2050 but its economy is suffering from the effects of measures designed to slow the spread of the coronavirus.

Britain’s economy saw sharpest second-quarter fall of any Group of Seven nation in the April-June period.

“To ensure that the 2020s continue to be a decade of delivery on net zero there needs to be step-change in the pace of investment, supported by government,” the Confederation of British Industry (CBI) said in its Green Economic Recovery Roadmap published on Monday.

The CBI called on government to accelerate the delivery of electric vehicle charging points, pledge at least 1 billion pounds ($1.28 billion)

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SoftBank Said to Be Near Deal to Sell British Chip Designer Arm

SoftBank’s deal in July 2016 for Arm, and its ambitions, were par for the course for Mr. Son. Months later, he unveiled SoftBank’s $100 billion Vision Fund, which was tasked with buying stakes in promising start-ups across the tech landscape, from Uber to WeWork to a company that used robots to make pizzas.

But those bets have not quite played out the way he has expected.

The Vision Fund later drew criticism for paying top dollar for sometimes questionable start-ups, contributing to a nearly $13 billion annual loss for SoftBank in the fiscal year that ended March 31. (The conglomerate said that the Vision fund has since returned to profitability as of June.)

And Arm has not quite turned out to be the home run that SoftBank had expected, with relatively stagnant sales growth and an inability to take a significant share in the internet-of-things market.

SoftBank began months ago

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British Business Bank seeks funding boost to drive UK recovery

The outgoing chief executive of Britain’s state-owned development bank has called for the government to provide more funds to support crucial industries and regional growth as the country rebuilds after the coronavirus crisis.

Keith Morgan, who helped set up the British Business Bank in 2013 and stepped down last week, said the BBB should play an “essential role” in supporting small business growth after becoming the key vehicle in the government’s response to helping struggling businesses during the pandemic. 

His comments came as the Treasury and the Department for Business, Energy and Industrial Strategy, BEIS, launched a review of the role, remit and governance of the BBB, which provides money through commercial lenders and fund managers to smaller companies and start-ups.

The pandemic has seen the bank grow exponentially. At the start of the year, it supported close to £8bn of funding for almost 100,000 firms, mostly through funds designed

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