Business

Let’s talk baggage: how much is your carry-on costing?

MONTREAL – As COVID-19-related restrictions lift and demand for travel returns, airport goers are left wondering yet again if checking a bag is worth it. On top of the hefty costs, travelers are also grappling with the growing concern that their luggage may never even reach their final destination. “Why am I paying an extra …

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Striking rail maintenance staff paid 18pc more than market rate

Striking rail maintenance workers are already paid almost a fifth more than those doing comparative roles, the industry regulator has said. The Office of Rail and Road (ORR) said that workers demanding double-digit pay rises are already on salaries that are 18pc higher than “market comparators.” The independent analysis sheds fresh light on the bitter …

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How three decades of pensions vandalism led directly to today’s crisis in gilt markets

But there is a long tail, lasting in some cases more than 50 years. In the meantime, the established strategy as members approach retirement age is to “de-risk” portfolios by selling higher risk assets such as equities and swapping into so-called “risk free” bonds where you can be certain of the nominal rate of return …

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Vodafone merger talks with Chinese-owned rival trigger alarm over undersea cables

Vodafone is preparing the biggest test yet of takeover laws meant to protect national security with plans to merge its British operation – including its sensitive undersea cables – with a Chinese-owned rival. The FTSE 100 telecoms empire on Monday confirmed it is in talks to combine Vodafone UK with Threethe challenger network owned by …

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The alarm over Credit Suisse signals a financial system losing its grip

There are worrying echoes of the financial crisis when Lehman Brothers and Bear Stearns scrambled to assure their creditors that all was well, but succeeded only in fueling suspicions that everything wasn’t. At times it was hard to know whether fears about the stability of the financial system were real or had become a self-fulfilling …

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UK scraps tax cut for wealthy that sparked market turmoil

BIRMINGHAM, England (AP) – The British government on Monday dropped plans to cut income tax for top earners, part of a package of unfunded cuts unveiled only days ago that sparked turmoil on financial markets and sent the pound to record lows. In a dramatic about-face, Treasury chief Kwasi Kwarteng abandoned plans to scrap the …

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Dates for October walkouts and which lines are affected

Rail unions are staging a series of train strikes, which will affect the Conservative Party Conference this week. Members of the Rail, Maritime and Transport workers union (RMT) staged a walkout out on Saturday Oct 1 and further action is planned for Oct 8. Aslef, which represents train drivers, will strike across 12 train operating …

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