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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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Why the meme-stock frenzy is unlikely to repeat

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GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

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Why are airlines after the Biden Administration?

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Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

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The mounting pressure on Government spends

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Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending

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