The transatlantic carrier's decision to freeze pay and push on with a cost-cutting restructure has given rise to fears of future job losses. It has been reported today that the latest draft of its full-year results show a deficit running at a staggering £135million, more than 60 per cent higher than the £80million loss it made last year.
Click through latest news features
SAVE OUR SAVERS: 'Cash Isa rates are poor, but it’s still worth growing riches,' admit families eager to secure future
The £80billion Funding for Lending Scheme has allowed banks and building societies to borrow on the cheap, at the expense of savers who are not longer being offered decent returns on their deposits. But despite a feeble offering of attractive cash Isas and lacklustre contest among big deposit-takers, saving into cash Isas and benefiting from tax-free interest is still worthwhile ...read
DON'T MISS
- JEFF PRESTRIDGE: Banks are passing customer complaints to Ombudsman far too quickly Showing a shameful, short-sighted attitude.
- Booze control: Wetherspoon boss wants a chain of motorway pubs M40 set to be the first location.
- Getting a roasting: Rotiserrie chicken sales nosedive after VAT levy Sales have plummeted 18 per cent since the 20 per cent VAT hike.
- TONY HETHERINGTON: Financial watchdog is powerless over carbon credits scandal Tony investigates the link between two firms promising quick profits from carbon credits.
- Jimmy Choo in China: Vince Cable backs British luxury export scheme Business secretary launches campaign this week.
- All bets are off: Council in betting shop haven probes gambling and crime link Investigation by country's largest licensing authority.
- Nationwide launches first paid-for current account Pay £10 a month for 3 per cent interest on balance and range of benefits.
- The UK's top 50 money saving tricks revealed From cooking big soups to using old knickers as dusters...
- ALEX BRUMMER: When will they ever learn? Banks finding it as hard as ever to give up bad habits.
Insurance
Compare thousands of policies
Credit cards
Compare today's best buys and other outstanding offers
Energy bills
Compare the cheapest gas and electricity tariffs in your area
Loans
Our tool scans the market for the cheapest rates on personal loans
Find the best deal for you GO
CITY & MARKETS
MIDAS SHARE TIPS: Holiday group TUI aims for 10% a year profit rise, as families take advantage of package breaks
As Thomas Cook cuts 2,500 jobs and closes stores, rival TUI Travel, Britain’s leading holiday group, is having a strong start to the year and its shares have long-term potential. Analysts expect profits to rise from £390million in 2012 to more than £430million for the year to September 30.
Latest from Markets
- SIMON WATKINS: Let's not play roulette with our RBS stake - as Sir Mervyn King calls for bank split
- Good dog! Online sales rocket to £47m for pet drugs provider
- What should Vodafone do? Fever builds over future of the mobile phone giant and its possible merger with Verizon
- AGA sales begin to warm up as profits rise despite store closures
- Former chairman Marcus Agius still at Barclays with £175,000 fee deal
- Morrisons to bite the bullet and start selling food online
- RBS tries to dodge the spotlight on fat cat pay as 95 staff get over £1m
- Unilever boss Polman cleans up with £6.6m after shares hit all-time high
- INVESTMENT EXTRA: No end in sight to the rally as global markets defy economic worries
- MARKET REPORT: Sportech soars as gaming operator scores a tax clawback
- FTSE CLOSE: US job figures see FTSE end week with a fresh five-year high
- SMALL CAP MOVERS: Energy and basic resources firms get a boost as Turbo Power Systems surges 175%
MONEY NEWS & ADVICE
Whether you want to extend your loft, add a conservatory or renovate a wreck, speak to an architect
So, you want to build a house, renovate a wreck, extend your loft or add a conservatory. You want to change your living space, essentially. The question (apart from finding the cash, of course) is this: do you welcome a visionary into the project? I’m not talking about a therapist. I mean an architect. Architects are not just for TV presenter Kevin McCloud and his Grand Design cronies; they are for you and me, too.
Will Rory McIlroy kick-start an Isa rush? Santander resurrects Golf Major deal as it launches two best-buy savings accounts
Santander is launching three new best buy cash Isas on Monday, giving savers' hope that better paying savings deals from other providers may on the way. Its Direct Isa Saver will pay 2.5%, while its Major Isa will offer up to 3% for some savers - with an extra 0.1% if Rory McIlroy wins another Major this year.
Savers with pots scramble to avoid rate plunge: Five best cash Isa accounts that allow transfers in
Many top cash Isa offers will not allow transfers in. This is bad news for those who have already built up a healthy egg over the previous years. This is Money takes a look at the top five cash Isa transfer accounts with the new tax year start date looming. ...read
Fury over wasteful power giants' £500million 'reward' – which may have cost UK households a £20 cut in bills
Energy watchdog Ofgem is preparing to allow electricity grid operators to keep nearly half a billion pounds raised from household bills – even though they failed to hit targets on stopping power being wasted. It is poised to waive the option to recover the money because it doubts the accuracy of figures for the amount of power wasted.
'Mis-selling cost me £300K and I get nothing': Victims of investment advice disaster cut adrift by financial lifeboat
Hundreds of people who lost an average £50,000 each after being wrongly advised to invest their savings in unregulated 'death bonds' will not be compensated by the financial services lifeboat. Law firm Regulatory Legal has announced it intends to fight the FSCS decision on Rockingham, claiming it could set a dangerous precedent. ...read
From cooking big soups to using old knickers as dusters... The UK's top 50 money saving tricks revealed
A fifth choose to dye or cut their own hair at home instead of visiting the hairdresser, while others share bath water, drive at a slower speed or flush the toilet only when necessary. As a new study reveals eight in ten people claim to be more conscious than ever before of overspending, we reveal the nation's favourite tricks to make the pennies go further.
Beaten by a country mile: Property prices in cities continue to climb while those in rural areas retreat
Urban asking prices now stand at £315,170 on average, up from £309,280 one year ago, while rural retreats are now £272,180. Over the past 12 months, country property prices have fallen hardest in the North East (down 11.3 per cent) and the South West (down 10.0 per cent)
'Second-steppers' struggle to climb the property ladder thanks to a lack of first time buyers and high deposits
Nearly two thirds of homeowners wanted to move up the property ladder in 2012 but were unable to as they faced a lack of demand from first time buyers, a report has suggested. Lloyds TSB said 61 per cent of 'second steppers' - former first time buyers who now want to become first time sellers - felt they were unable to make the next move up the property ladder.
ASK TONY: My 15-year-old grandson ran up a phone bill of £3,971 on messages, internet and game purchases
I got a mobile phone for my grandson so he could keep in touch with his family when away from home. The monthly rental is £13.31. I subsequently received bills for £1,365.94 due on December 6 and for £1,779.91 due by January 7. Vodafone has agreed to accept £300 a month by direct debit for six months, but I am 77 and get a £750-a-month state pension.
'You don’t have to live in Burnley to bank like Dave': Boss of lend-to-save firm RateSetter tells borrowers and savers to go online
Before you up sticks and move to Lancashire, you might be surprised to know that Dave’s blueprint for a bank already exists elsewhere, and has done for some time: online and available to all, in the form of P2P platforms, says lend-so-save boss Rhydian Lewis.
Meter reading mistakes cost consumers £1,000s with some energy suppliers taking months to amend their systems
Energy firms are routinely bungling simple meter readings and overcharging customers thousands of pounds as a result, Money Mail has found. Along with inaccurate bills, wrong meter readings are responsible for nearly half of all complaints about power companies.
'Ticking timebomb' endowment shortfalls will leave over 400,000 facing home sale
Many homebuyers will face huge endowment shortfalls of tens of thousands of pounds this year, leaving them with just a quarter of what they expected when they signed up to the plan. If policyholders don’t have enough savings to cover the gap, they will face having to leave their family home. ...read
'Tonight, on Tesco': Supermarket launches Clubcard TV giving 16m members free film and television streaming
Tesco has launched a free online TV and film streaming service for its 16 million Clubcard members. Content available for customers to watch online includes The Shawshank Redemption and TV shows such as, The Only Way is Essex and The Care Bears.
Tycoon behind Zara named world's third richest person - while Saudi Prince attacks Forbes for under-rating him at £13bn
Spain's Amancio Ortega, the co-founder of the fashion group that owns Zara - a favourite of the Duchess of Cambridge - is estimated by Forbes to have a fortune worth £37.8billion. Meanwhile Saudi Arabia's Prince Alwaleed Bin Talal, not content with being placed 26th richest person in the world, has attacked Forbes magazine for understating his wealth.
MORE BUSINESS, CITY AND ECONOMY NEWS
ALEX BRUMMER: Fresh thinking for the Bank of England could sweep away cobwebs
The speed with which the Bank withdrew the Special Liquidity Scheme and the lengthy time it took to come up with the idea of Funding for Lending, which has begun to work, does not speak well for creative thinking.
If the Chancellor thinks he can sweep away some of the cobwebs by offering a more flexible and broader monetary mandate, so be it.
YOUR MONEY ESSENTIALS
Now you can fix your mortgage for five years at 2.79% fee-free. What next for mortgage rates and should you fix?
Co-op Bank has removed the arrangement fee from its top five-year fixed rate - allowing borrowers to lock in until May 2018 at 2.79 per cent, while YBS is offering a new record low rate. Cuts come as lenders indulge in some competition - boosted by the arrival of Funding For Lending. So is now the time to fix your mortgage? Read our latest analysis. ...read
Watchdog threatens to put payday loan firms out of business after it finds industry causing 'misery and hardship' to borrowers
The UK's 50 biggest payday lenders, accounting for 90 per cent of the industry, have been given 12 weeks to change their business practices or they could risk losing their licences. The OFT said that it may refer the industry to the Competition Commisssion after it found 'fundamental problems' with how the market operates, leading to 'misery and hardship for many borrowers'.
THIS IS MONEY: HOW TO FIX YOUR FINANCES
- How to start saving and track down the best rates
- Fix your bills and save all year round: how to cut all your costs
- Want a bank that does more for you? Five of the best current accounts
- How to get the cheapest car insurance: The tricks and traps of getting the best deal
- Energy bills: Is it worth switching and which are the best deals?
- Tax-free savings: This is Money's five favourite best buy cash Isas for 2013
WHAT NEXT FOR YOUR MONEY?
Our picks: This is Money's five favourite best buy cash Isas for 2013
We pick our five favourite cash Isas for savers. This is essential Isa reading and is kept up-to-date throughout the year
When will UK interest rates rise? Four years of record low 0.5% base rate and a rise moves further into the distance
We explain the factors that will decide when interest rates rise and how quickly, including the latest forecasts from markets and economists. ...read
LATEST MONEY COMMENT
- JEFF PRESTRIDGE: Banks are passing customer complaints to Ombudsman far too quickly
- SIMON WATKINS: Let's not play roulette with our RBS stake
- ALEX BRUMMER: Fresh thinking for the Bank of England could sweep away cobwebs
- DAN HYDE: Annuity changes are welcome but insurers have forced a selfish compromise
- RACHEL RICKARD STRAUS: Expensive experiments have hammered savers - but no one knows if they have done any good
- ADAM UREN: Personal loan rates are plunging, so just how low can they go?
- LEE BOYCE: I was refused answers as a Wonga fraud victim - to protect the fraudster's data
Premium Bonds winners
Prize value | Winning bond No. | Area |
---|---|---|
£1,000,000 | 19ZV261442 | Kent |
£100,000 | 63QM826578 | Leicester |
£100,000 | 130TW951259 | Derbyshire |
£100,000 | 126GH541776 | Bromley |
£100,000 | 113KR306146 | Norwich |
£100,000 | 67GN975913 | Staffordshire |
£50,000 | 66KT257918 | Stockport |
£50,000 | 157TC529868 | Edinburgh |
£50,000 | 169EA469528 | East Riding of Yorkshire |
£50,000 | 153ZP310626 | Lincolnshire |
£50,000 | 54NE241308 | Enfield |
£50,000 | 184AP781420 | Liverpool |
£50,000 | 87DR626882 | Devon |
£50,000 | 22GF293518 | Outer London |
£50,000 | 198DT355236 | Norfolk |
Latest: Mortgages & home
- Are you a landlord? Then please fill out our buy-to-let survey
- The buy-to-let boom is back: From a single mother to the East End brothers with 100 homes, investors are making property pay
- 'Second-steppers' struggle to climb the property ladder thanks to a lack of first time buyers and high deposit demands
- Whether you want to extend your loft, add a conservatory or renovate a wreck, speak to an architect
- Millions who live 'unofficially' risk invalidating insurance and fines by failing to updating their address details
- Beaten by a country mile: Property prices in cities climb while those in rural areas retreat
- Letting agents slammed by ad watchdog over 'hidden fees' that add hundreds to cost of renting
- Surge in landlords buying houses in the last 12 months: How you can cash in on a buy-to-let mini boom
- Signs of property market improvement as house prices see biggest quarterly rise in two years, says Halifax
Latest from Investing
- MIDAS SHARE TIPS: Holiday group TUI aims for 10% a year profit rise, as families take advantage of package breaks
- MIDAS EXTRA UPDATE: Shares in dry-cleaner Johnson Service Group doubles since tip
- Midas Extra: why sign up?
- Cheapest index tracker funds
- INVESTING TIPS: Top fund and investment trust ideas for emerging markets
- Fund and investment trust tips: Ideas for different investors and their ISAs
- '£1,000 banker's fee dwarfed our profit': Savers lured by promised 25% return end up with just pounds
- Investors back a return to shares as the FTSE 100 climbs to record level since financial crisis began
- Artemis Global Income: The £110m fund is best performer in the sector with an overall return of 25%
Latest from Saving & banking
- SAVE OUR SAVERS: 'Cash Isa rates are poor, but it's still worth growing riches,' admit families eager to secure future
- Will Rory McIlroy kick-start an Isa rush? Santander resurrects Golf Major deal as it launches two best-buy savings accounts
- Nationwide launches its first paid-for current account: Would you pay £10 a month to get 3% on your balance?
- First Direct relaunches 6% regular savings deal that beats the best cash Isas
- BEAT THE ISA TRAP: What are the Isa transfer rules and how do I stop my rate crashing?
- HOW TO PICK THE BEST ISA: Everything you need to know about cash accounts & stock market funds
- Tesco Bank ups the rate on its instant-access cash Isa to 2.3% - and it won't all fall away in a year
- Our savings picks: This is Money's five favourite best buy cash Isas for 2013
- Savers with pots scramble to avoid rate plunge: Five best cash Isa accounts that allow transfers in
- Can I transfer my cash Isa pot into a stocks and shares Isa when the new tax-year starts in April?
ANSWERS FROM THE Experts
- JEFF PRESTRIDGE: Banks are passing customer complaints to Ombudsman far too quickly
- TONY HETHERINGTON: Financial services watchdog is helpless over carbon credits scandal
- ALEX BRUMMER: Fresh thinking for the Bank of England could sweep away cobwebs
- Cruise firm never cashed our cheque can we get the money back from Skipton for another holiday?
- Where is my £600 refund from Optical Express?
- ASK TONY: My 15-year-old grandson ran up a phone bill of £3,971 on messages, internet and game purchases
- ASK THE EXPERTS: Should I use equity release to tap into my home and save my daughter's endowment?
- We've saved up and work hard, but will bad credit from my past prevent me buying a home with my partner?
- How much will I save with energy saving plugs that turn appliances off completely?
- TONY HETHERINGTON: I tried to cash in my £50 pie and mash voucher and was left with empty promises
Currency | Rate | Buy now |
---|---|---|
Updated 10 Mar 2013. | ||
Euro | 1.1235 | Buy Now |
US Dollar | 1.4625 | Buy Now |
Australian Dollar | 1.4162 | Buy Now |
Canadian Dollar | 1.5039 | Buy Now |
Chinese Yuan | 8.9426 | Buy Now |
Croatian Kuna | 8.3855 | Buy Now |
Czech Koruna | 28.053 | Buy Now |
Danish Kroner | 8.2466 | Buy Now |
Egyptian Pound | 9.5679 | Buy Now |
Euro | 1.1235 | Buy Now |
Hong Kong Dollar | 11.285 | Buy Now |
Hungarian Forint | 328.07 | Buy Now |
Japanese Yen | 137.89 | Buy Now |
Malaysian Ringgit | 4.4688 | Buy Now |
New Turkish Lire | 2.6079 | Buy Now |
New Zealand Dollar | 1.7709 | Buy Now |
Norwegian Kroner | 8.2084 | Buy Now |
Polish Zloty | 4.5686 | Buy Now |
Singapore Dollar | 1.8135 | Buy Now |
South African Rand | 13.31 | Buy Now |
Sterling | 1.0 | Buy Now |
Swedish Kroner | 9.1704 | Buy Now |
Swiss Franc | 1.3811 | Buy Now |
Thai Baht | 42.74 | Buy Now |
UAE Dirham | 5.3532 | Buy Now |
LATEST ON HOUSEHOLD Bills
- Fury over wasteful power giants' £500million 'reward' – which may have cost UK households a £20 cut in bills
- 'We'll never raise your contract price': Tesco Mobile accuses competitors of raking in £217m by raising 'fixed' prices
- New telephone hotline promises to pass on customers' rants about bad service to bungling firms
- 'Tonight, on Tesco': Supermarket launches Clubcard TV giving 16m free film and television streaming
- Price hikes hit T-mobile and Orange customers adding £20 a year to bills
- Meter reading mistakes cost consumers £1,000s with some energy suppliers taking months to amend their systems
- New Tesco Clubcard deal means shoppers can increase their cashback rewards several times over - but beware the catches
- Third of households haven't switched broadband in four years - despite prices dropping by more than 50%
- Forget double-glazing or solar panels, you can make huge savings by blitzing limescale
- Do adjust your set. Adjusting shop settings that drain your wallet can save energy and money
Latest from Cards & loans
- Payday loan firms 'try to stall reform' as Government aims for industry overhaul
- Watchdog threatens to put payday lenders out of business after it finds them causing 'misery and hardship'
- How exaggerating your salary when applying for a loan can scupper your credit file
- Payday lenders to face stricter rules on advertising in government crackdown
- PPI mis-selling complaints to Ombudsman double in six months to 2,000 A DAY - and 60% are upheld
- ADAM UREN: Personal loan rates are hitting new lows, so should those planning to borrow wait for them to drop further?
- Fed up with sinking savings rates? Here's how to make yourself better off by making sure your debt is as cheap as possible
- LEE BOYCE: I was refused answers as a Wonga fraud victim - seemingly to protect the fraudster's data. What can I do next?
- The slow march of contactless payments: Now Co-op brings in terminals at 2,000 more food stores
Latest: money and Cars
- Pothole hotspots revealed: Damage to cars 'three times more likely' on crumbling roads in Scotland and the North
- Hard-up households now spend more than a QUARTER of their weekly budget on running a car
- Watch out for £50 renewal fee just to stick with the same motor policy
- 'My insurer paid me £92 back for driving safely': Is this insurance the Carrot young drivers need to cut premiums?
- Just say no. Motorists could save big by refusing insurers' high renewal premiums
- Young drivers risk being priced off the roads as average cost of running a car expected to hit £4,580 a year in a decade
- How to get the cheapest car insurance: Ten tips for cheaper car cover
- Mercedes-Benz cartel fined £2.6m for market rigging following OFT raids
- 'I've saved £2,000 in less than a year with my electric car:' Is it worth ditching the petrol pump for a plug socket?
Latest from Pensions
- 'Mis-selling cost me £300K and I get nothing': Victims of investment advice disaster cut adrift by financial lifeboat
- Baby boomers say not saving for retirement is their 'biggest money regret'
- For richer, for poorer: Rising pension age sees women work longer - and husbands show solidarity by retiring later too
- Part-time but putting something away: Number of women working part-time and saving into a pension triples in 25 years
- DAN HYDE: Annuity changes are welcome but insurers have forced a selfish compromise that will hurt thousands
- Pensioners lose up to £1,400 PER YEAR as spies snoop on health records before slashing payouts
- Be careful where you retire! It costs £4,000 MORE to be a pensioner in London than in Cardiff
- Kick back and enjoy your retirement: What you need to know about annuities and how to make the most of your pension pot
- Can you use your pension to pay less tax? Last minute tips for high earners before tax changes kick in next month
- Women the winners as EU and govt rule changes boost the sum they can draw down from their pension by 40%
- Pensioners mis-sold trusts to stop them being forced to sell homes could take action
Mortgage Affordability Calculator
Latest from Holidays
- Five holiday cash tips: where to get the best exchange rates and the best pre-paid and credit cards to use
- The great euro stampede: Do we really need to rush? Britons are flocking to buy currency but fears of a plunging pound may prove wrong
- Insurers deny holidaymakers who cancel at the last minute to care for a sick relative
- Plunging pound to cost Britons £1billion in lost travel cash and higher mortgages for expats
- Three essential steps to avoid holiday horrors and save money while abroad
- British Airways to follow Ryanair and easyJet with lower fares if you just have hand luggage
- More than half of parents happy to take children out of school during term time to save on holiday costs
- 'We were palmed off with lame excuses for the delay': Know your rights on an Easter flight
- Higher prices help Thomas Cook and TUI cut losses as summer bookings rise after last year's washout
Long-term savings
Broadband
Search for the best providers in your area
Insurance
Compare thousands of policies
Energy bills
You could save £££s on your energy bills. Find out in seconds
Credit check
Get a FREE trial credit check today to see what the financial services industry can see about you
GOWarranties
Get cheaper cover on
Car insurance
Compare more than 100 insurers in less than five minutes
GO