Tag: collapse

PMC Bank collapse: ‘We lost our money and then our son’

image copyrightGetty Images When India’s Punjab and Maharashtra Co-operative Bank (PMC) went under in 2019, nearly a million depositors were cut off from their life’s savings. One year later, many are still waiting for their money, reports the BBC’s Nidhi Rai. On 20 September, 2019, Raunak Modi deposited all his money – and that of his family’s – in an… Read more →

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Coronavirus: Gatwick passenger numbers collapse by 14.7 million

Image copyright Reuters Gatwick airport says passenger numbers fell by 14.7 million, or two-thirds, in the first half of the year as air travel collapsed amid the pandemic. The airport, which announced job losses earlier this week, also posted a £344m loss as sales fell across its business. Despite signs of recovery, Gatwick said it expected air traffic and passenger… Read more →

Coronavirus: Tourism economy in Wales on ‘brink of collapse’

Image copyright Richard Hoare/Geograph Image caption Conwy Castle is a key tourist attraction in north Wales Wales’ tourism industry is on the “brink of collapse”, say a group of Welsh tourism leaders demanding a reopening plan from the first minister. Official figures say £6.3bn was spent in Wales due to tourism in 2018 but attractions, shut in lockdown, say they… Read more →

Aston Martin chief leaves amid share price collapse

Image copyright Reuters Struggling luxury UK carmaker Aston Martin has announced that chief executive Andy Palmer has stepped down. Tobias Moers is taking over from 1 August, with Keith Stanton filling the gap as interim chief operating officer. Mr Moers joins from Mercedes’ high-performance subsidiary AMG, where he is currently chief executive. Aston Martin was struggling before the coronavirus crisis… Read more →