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Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...

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Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

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Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

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Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...

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UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...

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Fry appointed Premier League chairman

Category : Business, World News

Corporate financier Anthony Fry is to take over as chairman of the Premier League in June, replacing Dave Richards.

Read this article: Fry appointed Premier League chairman

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Thermometer hits 93 degrees at Logan Airport on first day of summer –

Category : Stocks

Daily Mail
Thermometer hits 93 degrees at Logan Airport on first day of summer
By Alli Knothe, Globe Correspondent Crank the AC and remember to hydrate today because on the first official day of summer it is going to be hot and humid. The National Weather Service has issued heat advisories in several areas around the state today
Northeast starts summer with temps in the
Heat expected to fry mid-Atlantic statesCNN
Northeast Begins to Bake on 1st Day of SummerABC News
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Thomas Cook boss attacks government for promoting holidays at home

Category : Business

Culture department’s TV campaign featuring Stephen Fry condemned as ‘absolutely wrong’ for jeopardising foreign travel’s contribution to Britain’s GDP

Jeremy Hunt may have thought spending £5m on a star-studded advertising campaign for British holidays would get a warm welcome from the travel industry. But he may now feel, as Stephen Fry so sagaciously chuckles in the Visit England campaign ads, “it’s just not worth it”.

On Thursday the culture department’s intervention – a spring TV campaign featuring Fry and other celebrities with the punchline “No passports. No jabs. No visas. No euros” – was attacked by the head of Thomas Cook as “absolutely wrong” in persuading Britons not to bother travelling abroad.

The chief executive of Thomas Cook’s UK business, Ian Ailles, said that the economic contribution of the outbound tourism sector matched that of the inbound sector, making a huge contribution to GDP as well as to the Treasury’s coffers.

Speaking at a conference of the travel association Abta, he said: “What we ask is that the government doesn’t distort a functioning market with microeconomic meddling.”

Abta unveiled figures on Thursday showing that outbound travel contributes more than £22bn directly to the economy and keeps 620,000 people in full-time work. A report by the Centre for Economics and Business Research also claimed that an additional £31bn of economic activity in the UK could be credited to related pre-trip spending on items such as holiday wardrobes and sun cream.

Mark Tanzer, Abta’s chief executive, said it proved the huge contribution of foreign travel to economic success. He said: “For too long it has been assumed that by going abroad on holiday, money is being taken out of the UK economy. The government must recognise and support outbound travel in its current and future policies to deliver growth to the wider economy.”

Ailles also attacked the “stealth holiday tax” of air passenger duty for dampening demand, adding that despite repeated assurances that the government supports travel and tourism, “the tax only increases”. He added: “I believe the chancellor would rather take the plaudits for lower direct taxation while stealing it in extra indirect taxation, which we take for him.”

The duty, which has united much of the aviation and travel industries in protest, rose by 8% last month. Tanzer said that the industry would be looking to “mobilise customers” to protest against it, and that the point needed to be made that it affected consumers’ own budgets and not just the industry’s.