Virgin Atlantic and Balpa meet to avoid industrial action by its pilots September 6, 2010 VIRGIN ATLANTIC management met with members from trade union Balpa yesterday in a bid to settle tensions with the airline’s pilots and avoid a possible strike. The two met last night in an attempt to smooth over a mounting dispute between Virgin Atlantic and its pilots over holiday entitlement and time off. Balpa, which represents [...]
British Airways plans to boost its London City Airport service September 6, 2010 British Airways is planning to boost its investment at London City Airport with the launch of new transatlantic services. The Flag-carrier introduced a 32-seat all-business service from the docklands airport to New York’s JFK just over a year ago. But yesterday chief executive Willie Walsh said: “This route has exceeded our expectations. We are now [...]
Land Secs says City shopping site all but full September 6, 2010 LAND Securities has managed to secure tenants for 96 per cent of its retail space in the One New Change shopping centre on Cheapside, over a month before the firm expects construction to end. The property developer said yesterday it is in talks over the remaining handful of units, which include the two rooftop cafes [...]
Shire begins £358m offer for Movetis September 6, 2010 DRUGS firm Shire launched its €19-a-share offer for Belgian gastro-intestinal specialist Movetis yesterday, as the company pushes ahead with its plans for international expansion. Movetis investors have until 26 September to accept the offer, which values the firm at €428m (£358m) including its €100m cash pile. Movetis management have unanimously recommended the offer to shareholders, [...]
Moulton’s Better Capital buys Calyx September 6, 2010 JON MOULTON’S company Better Capital has acquired the debt and related rights in IT services provider Calyx, a firm that Moulton’s former firm Alchemy took private in 2007. Calyx provides IT outsourcing, voice and data services, software, network security and training. The group’s UK and Irish companies have been placed into administration and receivership respectively. [...]
German banks could require an extra £88bn under Basel rules September 6, 2010 GERMANY’S 10 biggest banks may need €105bn (£87.8bn) of additional capital under a revamp of banking rules designed to prevent future financial crises, the country’s banking association said. International banking regulators known as the Basel Committee will likely require banks to have a Tier 1 capital ratio of six per cent, up from four per [...]
Dublin will close Anglo to keep Eire in the black September 6, 2010 Ireland is still mulling whether to keep parts of Anglo Irish Bank open but stands ready to wind it down if that helps keep the country solvent, finance minister Brian Lenihan said yesterday. Earlier, the Irish Independent newspaper reported Lenihan would ask the European Commission to allow a closure of the troubled lender over a [...]
Top 10 UK law firms see fees slump in 2009 September 6, 2010 PARTNERS at the City’s top 10 law firms saw average billing fees fall by almost £1m per partner during the downturn, according to newly published figures. Average billable fees per partner plunged by £875,000 across the ten largest law firms in the UK, including the elite Magic Circle, said recruitment consultant Ambition. Last year the [...]
Accountants hit as FTSE 100 skimps on bills September 6, 2010 DESPITE increasing fees during 2010, top accountants in the UK have reported a three per cent decline in the amount they collected from FTSE 100 clients, new research shows. During the 2009 to 2010 financial year, FTSE 100 companies paid £891.9m in both audit and non-audit fees, marking a drop from the previous year when [...]
JOHNSTON PRESS FOCUSES ON DIGITAL September 6, 2010 JOHNSTON Press hired Henry Faure Walker as digital and business development director yesterday, to replace Lori Cunningham. Walker will be responsible for expanding digital activities at the media group. The company, which owns 300 local newspapers, set up a paywall around six regional websites last November but dropped the system in April.