Mon. Apr 5th, 2021
Stock markets slide as EU leaders discuss vaccine export ban – as it happened
Tui has cut its summer capacity for 2021 despite “increasing interest” and pent-up demand for holidays this year, reports our transport correspondent Gwyn Topham.

Europe’s biggest travel company said the vaccination programmes and government initiatives were leading to “positive booking behaviour”, particularly in Germany and the UK, but admitted that the overall bookings remained at just 2.8m for the summer – more than 4 million fewer than at the same time in 2019.

Tui hoped to reassure investors at its annual meeting after shares tumbled on Monday amid warnings from politicians and health experts that foreign holidays could be ruled out this summer. Instead, the share price slid a further 6% on Thursday.

While UK tourists, who normally account for 25-30% of Tui’s market, will not be travelling until at least 17 May under the current roadmap, Tui has pinned hopes on its German customers travelling over the Easter holidays.

However, a renewed wave of Covid outbreaks in Germany and debate over fresh restrictions could yet affect those holidays. Tui said it was in favour of testing all German holidaymakers at their destination over Easter before their return, but stressed that its “holiday offers were geared towards relaxation, beach walks and the conscious experience of nature”.

Planes of the German carrier Tui are parked on a closed runway during the spread of coronavirus at the airport in Hanover, Germany April 18, 2020. Photograph: Fabian Bimmer/Reuters

The UK government is in the midst of a high-stakes review of gambling regulation that could result in significant changes, potentially crimping the industry’s profitability, my colleague Rob Davies writes.

With that in mind, bookmakers and online casinos have been doing their utmost to show that they are taking the prevention of addiction seriously.

Step forward Malta-based online casino company Casumo, which has been fined £6m this morning, one of the largest fines ever dished out by the Gambling Commission, the industry regulator.

Casumo failed to perform anti money laundering and responsible gambling checks on people losing large sums.

One customer lost £1.1m in three years without the company ever performing responsible gambling checks. On another occasion, the company stood by as a customer lost £59,000 in 90 minutes.

Games on offer at Photograph: casumo

This case is significant for three key reasons.

First, many in the industry are resistant to the idea of being forced to perform affordability checks, seeing the idea as intrusive and unnecessary. But how many people can afford to lose £59,000 in an hour and a half?

Second, the review will consider banning gambling sponsorship on football shirts. Casumo sponsor Reading FC.

Third, leading gambling figures have made much of how standards have improved dramatically, with exploitation of addicts largely a thing of the past.

The Casumo case suggests that may be wishful thinking, at best.

Rob Davies

There is a debate raging about whether gambling companies should be allowed to appear on football shirts.

Bear in mind that Casumo sponsor Reading FC.

March 25, 2021

Boohoo has published a full list of the UK clothing manufacturers it works with after severing ties with hundreds of companies following a damning review last year of its supply chain, writes our retail correspondent Sarah Butler.

The group now works with 78 UK suppliers afterthe review by Alison Levitt QC found the fast fashion retailer had been working with up to 500 UK suppliers when subcontractors were included. The review concluded there were“endemic” problems at Leicester factories in its supply chain, including minimum wage and life-threatening fire risk.

Boohoo has now banned subcontracting by its main suppliers so some of the reduction in numbers is the result of outsourced work being brought in-house. However, the 78 approved manufacturers operate across just 100 sites.

A woman poses with a smartphone showing the Boohoo app. Photograph: Dado Ruvić/Reuters

Facebook Comments

Leave a Reply

Translate »

This website uses cookies. By continuing to use this site, you accept our use of cookies.  Learn more

Share This