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Spirit Airlines shutting down after rescue talks collapse
The earlier plan, which would have seen the US government take effective ownership of as much as 90% of the airline, faced stiff opposition from Wall Street, Capitol Hill and even a member of Trump’s own cabinet. Transportation Secretary Sean Duffy told Reuters a rescue would amount to tossing “good money after bad”.
Car finance compensation scheme faces challenge and delay
Kevin Durkin, from HD Law, which represented Marcus Johnson, who won his case in the Supreme Court, said: “The current scheme simply does not have the general public’s needs at the forefront. While a judicial review may result in a short-term delay, we hope it can deliver a fairer, more equitable outcome for consumers overall.
UK sanctions Russia’s oil giants over Ukraine war
Britain is targeting Russia’s largest oil companies and the country’s “shadow fleet” of oil tankers in a bid to cut off Vladimir Putin’s ability to fund the war in Ukraine. The UK government is also pursuing a major Indian oil refinery and four Chinese oil terminals in a package of 90 new sanctions. Chancellor Rachel…
Mortgage rates rise and deals pulled over Iran war turmoil
“It’s unwelcome news for borrowers, as the prospect of falling mortgage rates has quickly given way to rate rises,” he said, adding: “How far they could go is now heavily dependent on how global markets and inflation expectations evolve as conflict in the Middle East unfolds.”
UK stock market hit by nerves over US banks
Ben KingBusiness reporter Getty Images The UK’s stock market has fallen after a warning from two US banks triggered a sell-off in banking shares. Two US regional lenders, Western Alliance Bank and Zions Bank, said on Thursday that they had been hit by either bad or fraudulent loans, sparking fears of problems in the banking…
