Etihad Airways attempts to save debt ridden Alitalia in deal June 26, 2014 ETIHAD Airways, Abu Dhabi’s state owned airline, said yesterday it had agreed a deal in principle to buy a 49 per cent stake of troubled Italian carrier Alitalia. Alitalia, Italy’s flag-carrier airline, has rarely made a profit in its 68-year history. It was propped up with large state subsidies before being privatised in 2008, and [...]
The new rules of business dress: Is casual dying? June 26, 2014 It’s not just about perceptions – make use of “enclothed cognition” Ever since “business casual” exploded onto the sartorial scene in the 1990s, predictions of the death of smart business dress have come thick and fast. Levi’s posted an eight-page brochure titled A Guide to Casual Businesswear to around 25,000 human resource managers in the [...]
Dixons profits surge ahead of Carphone Warehouse merger June 26, 2014 Dixons Retail, the owner of Currys and PC World, has reported a jump in profit before tax of 76 per cent to £166.2m for the financial year ended 30 April. Online sales were a particularly bright spot, rising by 16 per cent to £1bn, while customer service metrics reached their highest recorded levels in all [...]
Wronga: Police called in over Wonga’s fake legal threat letters June 25, 2014 Wonga, which presents itself as the “straight talking” antidote to traditional payday lenders, was yesterday revealed to have bullied tens of thousands of vulnerable customers by sending fake letters from made up legal and debt collection firms. The City’s Financial Conduct Authority (FCA) is understood to have referred the case to the police, and lawyers believe [...]
Arctic US economy hit by biggest slump since recession June 25, 2014 The full and shocking extent of the collapse in the US economy during the frozen winter was revealed yesterday, as fresh figures suggest that output is now roaring ahead at the most rapid pace since the recession. US GDP plunged by 2.9 per cent on an annualised basis in the first three months of the [...]
Martin Sorrell under fire as WPP clashes with investors June 25, 2014 Advertising titan WPP clashed with investors at its annual meeting yesterday after nearly 30 per cent of shareholders failed to support chief executive Sir Martin Sorrell’s £30m pay package. Sorrell’s total pay for 2013 shot up by 70 per cent, nearing to £29.8m, making him the highest paid executive in the FTSE 100. At the [...]
Reprieve for Cameron as EU’s leaders agree to vote on Jean-Claude Juncker June 25, 2014 David Cameron has been dealt a reprieve in his bid to block the appointment of Jean-Claude Juncker to the role of EU commissioner, after both German chancellor Angela Merkel and Prime Minister Rutte of the Netherlands said they would back a vote if agreement cannot be reached between European leaders at a key summit this week. [...]
US military advisers arrive in Iraq as fighters gain territory June 25, 2014 MILITARY advisers from the US returned to Iraq yesterday, as Islamist militia made further gains in the north of the country. Fighters for the Islamic State of Iraq and the Levant (Isis) assaulted an airfield in northern Iraq, just 55 miles north of Baghdad. The militants also reportedly took a number of small oil fields [...]
McEwan’s turnaround plan wins backing of RBS shareholders June 25, 2014 INVESTORS overwhelmingly backed RBS chief Ross McEwan’s plans at his first annual general meeting at the top yesterday. More than 99 per cent backed the remuneration report, the remuneration policy and the re-election of McEwan to the board. Other banks had seen substantial rebellions this year, making RBS stand out for the high degree of [...]
What the other papers say this morning – 26 June 2014 June 25, 2014 FINANCIAL TIMES Fed warns banks of tougher tests The Federal Reserve has warned banks in the US that tests of their ability to survive a financial crisis will be made tougher – with new risk assessments and regular checks to ensure they fix any weaknesses identified in the process. Fed governor Daniel Tarullo, who is [...]