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Travel hopes dashed – BA announces thousands of flight cancellations

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British Airways cancels thousands of flights through the month of July

Britain’s biggest airline told airport slot authorities that it was cancelling more than 650 flights from Heathrow and Gatwick in a bid to avoid repeating last month’s overcrowding and chaos, according to The Telegraph.

“As the entire aviation industry continues to face into the most challenging period in its history, regrettably it has become necessary to make some further reductions.”

BRITISH AIRWAYS SPOKESPERSON

Airlines and airports across Britain are dealing with a staffing crunch.

Layoffs and redundancies made during the pandemic have come back to bite air operators as demand for air travel surges.

On Monday, EasyJet’s Chief Operations Officer, Peter Bellew, resigned from his post amid thousands of cancellations in June.

EasyJet’s Chief Operations Officer resigned on Monday following thousands of EasyJet flight cancellations leading up to July

An EasyJet spokesperson said that Mr Bellew had “resigned to pursue other business opportunities”.

On Sunday, footage emerged of an EasyJet flight being escorted by a Spanish Air Force jet.

Spanish authorities said it was in response to a bomb threat, which later turned out to be a hoax.

The EasyJet flight from London Gatwick to Menorca landed without incident.

Passengers were screened one by one and bomb disposal experts checked all luggage.

Spanish authorities said an 18-year-old British man had posted the bomb threat to his social media page and was detained.

An EasyJet spokesperson thanked passengers for their understanding but did not go into further details.

Simon is a ticker NEWS corespondent in London. Simon started his career in his hometown of Sydney as a news video producer for NineMSN, then moved to the UK with Good Morning Britain on ITV, followed by a TV reporter for a local news service in Manchester in England’s north. Simon joins ticker News after several years in the London headquarters of ITN Productions as a news producer, and as an assistant news editor for ITV News.

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Companies to pay extra for verified Twitter accounts

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Elon Musk has announced that companies and brands will have to pay $1,000 per month – plus an additional $50 per sub-account – to get verified check-marks on Twitter

The new pricing falls under the new Twitter Blue for Business service.

Within the next few months, only paying Twitter customers will have verified status.

Twitter has stacked on $12.5 billion in debt, and this move hopes to increase subscription revenue to meet Musk’s obligations.

Advertisers halted spending on Twitter after the takeover, but Twitter has since announced partnerships with two brand-safety vendors to win back marketers.

Musk also announced that Twitter would start sharing ad revenue with creators for “ads that appear in their reply threads”, but didn’t provide further detail.

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BMW to invest €800 million in Mexico

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BMW is set to invest €800 million in Mexico, to produce its next generation of high-voltage and fully electric batteries

 
The carmaker is looking to convert more than half of its sales into all-electric cars by 2030.

Construction will begin next year with production beginning in 2027.

The announcement follows several other major expansions from the automaker in recent months, including a $1.7 billion investment in the United States.

The move will add around 1,000 new jobs to its Mexico operations.

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Business

A British digital currency “later this decade”

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The Bank of England and Britain’s finance ministry think the UK is likely to need to create a central bank digital currency later this decade.

“On the basis of our work to date, the Bank of England and HM Treasury judge that it is likely a digital pound will be needed in the future,” the Telegraph quoted BoE Governor Andrew Bailey and finance minister Jeremy Hunt as saying in the joint report.

“It is too early to commit to build the infrastructure for one, but we are convinced that further preparatory work is justified,” the Telegraph quoted the report saying.

The BoE declined to comment on the Telegraph article, but said a joint consultation on CBDC issues would be published shortly.

A government source said the report would be published next week.

BoE Deputy Governor Jon Cunliffe is due to give a speech on Tuesday to update the finance industry on the BoE’s CBDC work.

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