British Airways and EasyJet slide on holiday fears – live updates

British Airways and EasyJet slide on holiday fears - live updates

gHello. One of Westminster’s most influential committees will meet today to discuss whether to launch a formal investigation into the collapse of supply chain financier Greensill, as former Prime Minister David Cameron reportedly personally lobbied the government on behalf of the company.
Two years after leaving Downing Street, Mr Cameron was hired as an advisor to Greensill in 2018.

Today, reports claim that Mr Cameron used his personal email, at least one phone call and “several texts” to Rishi Sunak’s private phone number to lobby the Treasury and 10 Downing Street last May. to try to help Greensill gain access to the Bank of England’s Covid Corporate Financing Facility for Large Businesses.

My colleagues Rachel Millard and Danielle Sheridan have the full story here.

5 things to start your day

1) MPs are considering an investigation into allegations Cameron lobbied the Treasury for Greensill: Committee set to discuss probe into Mr Cameron’s alleged efforts to secure coronavirus funding for collapsed financier

2) Thousands of Hong Kongers will not be able to collect their pensions after moving to the UK: Nearly 30,000 people have applied to settle in the UK from Hong Kong under a new visa system that is becoming “highly political”

3) Saudi Aramco’s dividend pledge survives 44% drop in profits: World’s largest oil company ties optimism to post-pandemic rebound, plans to work with China to achieve low-carbon ambitions

4) The 1m buildings will need to be upgraded as part of the government’s net zero reduction strategy: New plans would mean commercial properties to achieve a ‘B’ rating for energy efficiency by 2030

5) Billionaire Bamford gets taxpayer money for green buses: JCB heir bus company backed by new round of government funding to try to cut carbon emissions

What happened overnight

Asian stocks turned mixed and bonds rebounded on Monday as a fall in the Turkish lira sparked discussions that capital controls may be needed to stem the rout, although the wider fallout was relatively limited for the moment.

The dollar was trading almost 12% higher than the lira at 8.0520, the sharpest move since August 2018, when Turkish markets were in another of their recurring crises.

The slide came after President Tayyip Erdogan shocked the markets by replacing the hawkish central bank governor of Turkey with a criticism of high interest rates.

Uncertainty drove Japan’s Nikkei down 1.6 pc, partly on speculation Japanese retail investors could take losses on large long positions on the high yielding lira.

The ripples were more subdued elsewhere, with the largest MSCI index for Asia-Pacific stocks outside of Japan actually adding 0.3%, helped by a 0.7% rise in Chinese blue chips.

EUROSTOXX 50 futures fell 0.3% and FTSE futures fell 0.2%. Nasdaq futures firmed 0.6 pc, while S&P 500 futures wavered on either side of the dish.

Coming today

Annual results: Centamin, Kingfisher

Economics: sales of existing homes (United States)


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