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UK scraps action against Ryanair, British Airways

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Britain’s competition regulator has scrapped legal action against Ryanair and British Airways.

It had claimed the airlines failed to offer refunds to those prevented from flying by the global health crisis.

Instead of providing refunds to those legally unable to fly, IAG-owned British Airways offered vouchers or rebooking.

Ryanair provided the option to rebook.

The Competition and Markets Authority started action against the airlines in June.

It said passengers who were legally unable to take flights booked in good faith should have their money back.

But on Thursday (October 7) it said the law did not provide passengers with a sufficiently clear right to a refund in such unusual circumstances.

It concluded that the length of time that would be required to take the case through the courts, and the uncertain outcome, no longer justified further expense of public money.

Instead the CMA hopes the law will now be clarified.

Ryanair said it welcomed the decision.

British Airways said in a statement it had acted lawfully at all times, issuing nearly 4 million refunds and highly flexible booking policies.

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Warner Brothers & Discovery considers splitting up to boost stock value

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Warner Bros Discovery is considering a strategic breakup to enhance its stock performance, according to a Financial Times report.

The potential move aims to unlock value by separating its media assets from its reality TV and lifestyle businesses.

This decision follows pressure from investors to improve stock performance, amidst challenges in the media industry #featured #trending

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Investors worldwide grow increasingly optimistic about Trump winning the election

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Investors are increasingly optimistic about Donald Trump’s potential re-election, prompting a resurgence in the so-called ‘Trump trade’.

Market participants are closely monitoring Trump’s political strategies and public sentiment, influencing their investment decisions.

Kyle Rodda from Captial.com joins to discuss all the latest.

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Netflix expands use of ads despite slow subscriber growth

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Netflix is intensifying its efforts to introduce an ad-supported tier amidst a plateau in subscriber growth.

The streaming giant hopes to attract new users and boost revenue by offering a cheaper alternative that includes advertisements.

This move marks a significant shift from its traditional ad-free model, reflecting Netflix’s response to competitive pressures and evolving consumer preferences.

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