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Heathrow turns screw on cost cuts with new furlough plan

Heathrow turns screw on cost cuts with new furlough plan

Business
Britain's biggest airport is to furlough its entire senior management team apart from its chief executive and pave the way for more permanent job losses, underlining its pessimism about the aviation industry's short-term recovery prospects.Sky News has seen emails sent by Heathrow executives on Friday which detail plans for a new voluntary redundancy scheme and a requirement for staff to be placed on furlough for at least four weeks between the beginning of December and the end of March. Sources said the furlough requirement would apply to every Heathrow employee other than John Holland-Kaye, the airport's chief executive.The latest developments come weeks after Heathrow relinquished its crown as Europe's busiest airport to Paris's Charles de Gaulle, with passenger numbers at the London hu...
The workers most at risk of losing out as focus turns to ‘viable’ jobs

The workers most at risk of losing out as focus turns to ‘viable’ jobs

Business
Rishi Sunak could not have been more stark.Unveiling his latest package aimed at tiding the UK economy through what threatens to be the bleakest winter for many years because of the COVID-19 crisis, the chancellor admitted: "I cannot save every business. I cannot save every job." That much became clear as the City's economists picked through the details. 'Sunak supp...
Pandemic turns summer into European tourism’s leanest season

Pandemic turns summer into European tourism’s leanest season

Health
BRUGES, Belgium -- Bruges mayor Dirk De fauw first realized something was desperately wrong with European tourism when on a brisk March morning he crossed the Burg square in front of the Gothic city hall and there was nothing but silence.“There are always people. Always," De fauw said. That morning?“Nothing. Nobody is on that large square" at the heart of one of Europe's most picturesque cities, he said.Six months later, as Europe's meanest tourist summer season in history is starting to draw to a close, COVID-19 is yet to loosen its suffocating grip on the continent.If anything the pandemic might tighten it over the coming months, with losses piling up in the tens of billions of euros across the 27-nation European Union, and the continent's vaunted government support and social security s
House price growth ‘turns negative for first time since 2012’

House price growth ‘turns negative for first time since 2012’

Business
The annual rate of house price growth has turned negative for the first time since 2012, according to a closely-watched measure.The Nationwide Building Society's monthly index covering June showed average values falling by 0.1% year on year following a 1.4% decline on the previous month. That followed a 1.7% fall during May - the largest monthly drop in 11 years as the country remained in hibernation during the second full month of the coronavirus crisis lockdown. Image: Delays in the construction of new homes are likely to help prop up prices in the months ahead The government eased restrictions on the housing market in England in mid-May but data published by the Bank of England earlier this week showed the lowest number of mortgage...
Sir Tom Jones turns 80: Singer shares ‘tremendous’ memories

Sir Tom Jones turns 80: Singer shares ‘tremendous’ memories

Entertainment
As he celebrates his 80th birthday, Sir Tom Jones has said he will keep singing "as long as there's breath in my body".The Welsh legend, who was born on 7 June 1940, said he did not mind growing old because "the memories are tremendous".And he said lockdown reminded him of his own two-year isolation with tuberculosis from the age of 12."I sympathise with young people that can't go and play," he said. Sir Tom, who grew up in Pontypridd, enjoyed huge commercial success with hits including It's Not Unusual, What's New Pussycat? and Kiss. He became one of the world's biggest stars, with his live Las Vegas performances earning the admiration of Elvis Presley and Frank Sinatra. ...