The electric car maker’s value yesterday rose by more than 4 per cent to £167.5bn. That made it more valuable than its much bigger Japanese rival, which was worth £163.6bn.
Some 3,150 out of 10,000 Virgin staff face the chop as the airline industry struggles amid widespread flight cancellations and question marks about how long it will take travel to return to pre-Covid levels.
As Ryanair resumed flights, boss Michael O’Leary said lower fares would be funded by cutting pay for its 18,000 staff. He said up to 3,000 will be laid off if they do not accept temporary cuts.
A closely-watched index of activity in UK factories – where scores below 50 show decline and above 50 show growth – jumped from 40.7 in May to 50.1 in June having fallen to an all-time low of 32.6 in April.
Upper Crust-owner SSP warned investors it could axe up to 5,000 jobs from its head office and UK outlets as commuters stay home, socialising remains limited and holidays are cancelled.
Each day the country wakes to a long list of companies shedding staff. John Lewis and Harrods are among the latest. SSP Group, owner of Upper Crust, is shedding 5,000 people.
The FTSE 100 gained 8.8 per cent in April, May and June as investors took stock of what the covid crisis would mean for the global economy. It was the best quarterly performance since mid-2010.
Standard Life Aberdeen says chief exec Keith Skeoch is stepping down after five years, to be replaced by Stephen Bird (pictured) the former head of consumer banking at Citigroup.
After a dismal few months following the coronavirus outbreak, the group, which recently tapped shareholders for £65m reported a ‘significant’ surge in demand since mid-June.
Airbus warned in April that it was ‘bleeding cash’. At the moment it has about 134,000 employees in total. It will make the cuts by summer 2021 – and is hoping most redundancies will be voluntary.