Commercial news round-up: United Airlines, staycation, Bank of Mum & Dad, KPMG, Lidl
updated on 04 May 2017
While the shortened week may necessitate a more compact selection of stories, it is just as vital that you know about them. Read on, with all haste:
- To the surprise of no one, United Airlines is very much on the back foot in terms of customer relations and has announced that it will be initiating a new policy of offering customers compensation of up to $10,000 if they give up their seats in the event of overbooking.
- With the pound on a downward trajectory, UK holiday parks and campsites are hoping to gain custom from staycationers in 2017, for whom overseas travel is becoming ever more expensive.
- Parents are expected to lend around £6.5 billion to help their children buy their first homes in 2017; this is a symptom of a “broken housing market”, says the research from Legal & General and economics consultancy Cebr.
- The Financial Reporting Council (the accounting watchdog) is to investigate KPMG in relation to its audit of Rolls-Royce, and the car company’s payment of £671 million in penalties to settle long-running corruption allegations.
- The discount supermarkets continue to go from strength to strength. Lidl has overtaken Waitrose in the UK supermarket league table, taking seventh spot in terms of size, while Aldi is also on the up, enjoying the largest increase in market share over the past year.
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