rescue

Willie Walsh blasts ‘blind and deaf’ union as Qatar rides to IAG’s rescue

BA announced up to 12,000 redundancies in April in response to the pandemic, which led to all but a handful of flights being grounded.

Union leaders are angry at BA’s plans to “fire and rehire” some cabin crew, forcing those that remain at the airline to accept inferior pay and working conditions.

“At the heart of this, you have a trade union that has refused to accept that this is a crisis that needs to be addressed,” Mr Walsh said.

“The Unite trade union has told everybody that this is a temporary issue that can be resolved by temporary measures. 

Read More

Trump’s $1 trillion rescue plan is too small to save America’s faltering recovery

It is this sort of delayed reaction to output shocks that can cause downturns to metastasise, and it is why countercyclical stimulus must be maintained until the economy reaches escape velocity.

Yet, by curse of timing, the $3 trillion relief package rushed through Congress in March with rare bipartisan comity is running out. The first fiscal cliff hit last Saturday with the expiry of weekly cheques worth $600 to some 30 million people unable to work.

It has been a remarkably generous subsidy that comes on top of normal state unemployment benefits and renders two-thirds of recipients better off than

Read More

Refusing to rescue Virgin Atlantic is one of Sunak’s best moves

The case for a government bailout out of Virgin Atlantic was always weak. Thankfully, in Rishi Sunak we have a savvy Chancellor who set a high bar for taxpayer support of troubled companies from the outset and quickly recognised that it was undeserving of state aid. 

The Government cannot be expected to prop up a struggling airline with a billionaire owner even in the extraordinary circumstances of a global pandemic. 

Sunak could easily have allowed himself to be pressured into stepping in. Virgin is a high profile brand with an even more high profile backer in Sir Richard Branson, and

Read More

Food-sharing services come to rescue eateries in Japan

TOKYO — With more people staying home to prevent the spread of the new coronavirus, restaurants, grocery stores and farms selling to tourists are all struggling with unsold items.

This presents an opportunity for food-sharing services, which connect customers with sellers, who do not want to see their goods go to waste. For consumers, the services offer not just cheaper prices but a way to cut down on food waste while supporting their favorite shops.

“Thank you for the rescue,” said the owner of Fukudora Morishitaten, Japanese-style pastry shop in Tokyo’s Koto Ward, on an early-April evening, handing over a

Read More