Stobart signs Aer Arann deal October 11, 2010 TRANSPORT group Stobart has signed a five-year deal with Ireland’s Aer Arann to use its Southend Airport. The deal will see Stobart invest €2.5m (£2.2m) into the deal and will see the Irish airline operate flights out of the London airport starting next March. Expectations are that passenger volumes will grow to 300,000 a year. [...]
The unemployment Nobel October 11, 2010 AS HIGH unemployment once again stalks the western world, the Nobel committee has rewarded three economists who revealed how the process of searching for work affects unemployment. As Dale Mortensen and Christopher Pissarides put it in 1998: “Market friction, the costly delay in the process of finding trading partners and determining the terms of trade, [...]
French defend line on hedge funds from US October 11, 2010 France’s stand on European plans for hedge fund regulation does not discriminate against funds from outside the EU, Paris has told the US, and offshore funds should be subject to supervision by a European watchdog. France, citing fears of insufficient regulation, refused with German backing a few weeks ago to back adoption of new hedge [...]
BCC voices its concern over the recovery October 11, 2010 BRITAIN’S economic recovery is rapidly running out of steam and the government and the Bank of England will need to take robust action to prevent a double-dip recession, the British Chambers of Commerce (BCC) will warn today. The BCC’s quarterly economic survey showed that the UK economy slowed considerably in the three months to September [...]
RICS: Further falls in UK house prices is expected October 11, 2010 ESTATE agents are predicting that house prices will fall even further, according to the September housing market survey from the Royal Institution of Chartered Surveyors (RICS), which is published today. A growing supply of new properties acted as a drag on the current price balance with a net 36 per cent of estate agents reporting [...]
Poor consumer confidence hits the High Street October 11, 2010 A LACK of confidence among consumers has resulted in lacklustre retail sales growth over the past six months while next week’s Comprehensive Spending Review is unlikely to boost optimism among spenders. Retail sales values rose just 0.5 per cent last month on a like-for-like basis from September 2009, when sales had risen 2.8 per cent. [...]
Virgin Active limbers up with laundry acquisition October 11, 2010 Fitness group Virgin Active has saved a towel and laundry supplier from collapse, safeguarding 30 jobs. The gym operator has bought H20 Leisure Services, which went into administration last month. H20, based in Neasden, north London, supplies Virgin’s 50 clubs in the capital, which use more than 1m towels a month. Virgin said it decided [...]
Norway to UK gas pipeline opens October 11, 2010 The first transport of gas from the Gjoea and Vega fields offshore Norway began on Sunday with the opening of the Gjoea pipeline, Norwegian North Sea infrastructure operator Gassco said yesterday. “First gas began to flow on 10 October through the Gjoea gas pipe,” Gassco said, adding that first deliveries would begin when the platform [...]
Jaguar Land Rover exec to quit next year October 11, 2010 Luxury car maker Jaguar Land Rover yesterday said the boss of its Jaguar arm is leaving next year as the company continues to review the future of its UK manufacturing operations. Jaguar Land Rover said the managing director of Jaguar Cars, Mike O’Driscoll, 54, will retire at the end of March 2011 after 35 years [...]
Greece stalls on bailout loan October 11, 2010 Greece is discussing prolonging the repayment of a €110bn (£96bn) EU/IMF bailout deal, finance minister George Papaconstantinou told Greek Skai television yesterday. “It is an ongoing discussion, there is no decision but this is completely different from the issue of restructuring of the Greek debt,” Papaconstantinou said. The International Monetary Fund said on Sunday that [...]