October, 2016

• 3 October

  Heathrow to make room for 25,000 more flights

  

    Bloomberg London Heathrow airport said it could make room for 25,000 more flights a year in the run up to construction of a new runway, improving global links at a time when Britain is likely to be exiting the European Union. The extra services would be added from 2021 until the opening of a third landing strip in 2025, ...

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• 3 October

  India’s Vistara chief wants airline rule scrapped

  

    AFP The boss of India’s newest airline Vistara has urged the government to scrap a rule that restricts carriers in the country’s cut-throat aviation sector from expanding their operations abroad. Phee Teik Yeoh, the Singaporean CEO of Vistara, which was launched last year, said in a recent interview that recent reforms were welcome but more needed to be done ...

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• 3 October

  Lufthansa’s Eurowings gets reboot with Air Berlin, Brussels jets

  

      Bloomberg Deutsche Lufthansa AG said its Eurowings discount arm will enter a new phase of growth as the wholesale transfer of dozens of jets from Air Berlin Plc and Brussels Airlines NV doubles the size of its fleet and sidesteps union opposition to expansion. Lufthansa’s twin moves to buy Brussels Air, which has 49 jets, and take over ...

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• 3 October

  Air-rage abuses on rise says report

    Bloomberg Instances of air rage on commercial flights increased again last year, and alcohol and drugs were involved in less than a quarter of cases, according to the International Air Transport Association. Some 10,854 incidents were reported to IATA by its member airlines in 2015, equating to one every 1,205 flights. That’s up from 9,316 incidents, or one every ...

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• 3 October

  Airbus combines all operating units into a single firm

  

    Bloomberg Airbus Group SE will combine all of its divisions into a single company in a major step toward simplifying a business that spans jetliners to space launchers as Chief Executive Officer Tom Enders seeks to cut costs and speed decision-making. Fabrice Bregier becomes chief operating officer for the group, making him No. 2 to Enders, while remaining head ...

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• 3 October

  ADB, SIDA sign risk-transfer agreement

  

    MANILA / AP The Asian Development Bank signed an agreement with the Swedish International Development Cooperation Agency (SIDA) on a risk-transfer scheme under which SIDA will guarantee $155 million out of ADB’s $455 million basket of five loans to India — a first for a sovereign loan portfolio for any multilateral development bank, the ADB announced on Monday. The ...

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• 3 October

  ING to slash 7,000 jobs, close branches

  

    BRUSSELS / AP Dutch banking group ING said on Monday that it is slashing 7,000 jobs in Belgium and the Netherlands as the company focuses on online services in the face of growing competition. ING said in a statement that some 3,500 full-time jobs would disappear in Belgium by 2021 and 2,300 in the Netherlands. Almost 1,000 jobs would ...

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• 3 October

  UAE banks adopt world-class digital security

  

    Dubai / Emirates Business UAE banks are rapidly adopting global best practices in securing online bank accounts and digital payments, industry experts commented today on a new report. Automation of security is the most frequently deployed digital transformation initiative among banks in Europe, the Middle East, and Africa, according to the recent IDC report, “The Digital Ready Bank”. When ...

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• 3 October

  BoE to hold broader bank stress test in 2017

  

    Bloomberg The Bank of England (BoE) will run two stress tests on the country’s biggest lenders next year, an annual assessment of risks from the financial cycle and an “exploratory” scenario geared to “emerging or latent threats” to financial stability. The central bank will publish the two scenarios in the first quarter of next year. The firms participating in ...

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• 3 October

  Barclays FX ‘superstar’ trader loses dismissal suit

  

  Bloomberg A “superstar” Barclays Plc trader fired amid the foreign-exchange market manipulation scandal lost his unfair dismissal case in London, three weeks after regulators banned him from the U.S. banking industry. The bank took “appropriate actions in light of” Chris Ashton’s “gross misconduct,” a London employment tribunal judge said in a Sept. 19 ruling. The decision is a rare complete ...

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