Analysis

EasyJet finance chief resigns days after surviving Stelios vote

EasyJet’s finance chief has resigned just days after shareholders voted not to oust him in a ballot triggered by founder Sir Stelios Haji-Ioannou. 

Andrew Findlay, who joined easyJet in October 2015, will stay on until May 2021 in line with his contractual obligations. 

Mr Findlay said: “Although I have given notice to leave easyJet in a year’s time, I remain fully committed to the business to support Johan [Lundgren] and to ensure easyJet successfully weathers this unprecedented time for the airline industry. 

“By the end of my notice period I will have been with this great company for almost six 

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we were right to ignore Corbyn and tip Severn Trent in 2017. Should we hold now?

At first glance, income hunters would be right to ask whether Severn Trent is truly capable of raising its dividend at a rate that matches inflation.

After all, cash conversion was weak in 2019-20 and free cash flow did not cover the annual £228m dividend payment once interest, tax, pension contributions, lease payments and capital investment were taken into account.

Moreover, both United Utilities and Severn Trent have highlighted the possibility that some customers may have difficulty paying their bills in the year ahead if they have been furloughed or lost their job.

As a result, the utilities may not

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What the UK can learn from Lisbon, where house prices could still rise this year despite coronavirus

Lisbon’s rental sector was the first to feel the brunt of the outbreak. As tourism dried up, Airbnb investors moved their properties en masse to the long-term lettings market. The same has happened to London, though on a smaller scale.

Pedro Branco, of estate agency Engel & Volkers, said rental prices fell immediately by 15 to 20pc.

But house prices have so far been resilient, say agents. “Buyers might be trying to lower asking prices, but owners are not under pressure,” said Mr Penalva. Interest rates are low, the Portuguese government has introduced a wage protection scheme, and homeowners can

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We’re getting too relaxed about the ballooning national debt

By the time this crisis is over, national debt will go well above 100pc of GDP to levels unseen since the aftermath of the Second World War, adding to an already grim long-term picture.

Pre-Covid OBR projections already had debt-to-GDP hitting 250pc by 2060 as we deal with pressures such as an ageing population and decarbonisation.

Why does high debt matter?

It may seem odd to worry about debt servicing costs the week the Government sold bonds at negative yields for the first time. But whilst interest rates are low now – and we should do all we can to

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