SLICE OF THE ACTION October 1, 2009 BRITAIN’S biggest pizza delivery chain, Domino’s, yesterday said it was on track to beat full-year expectations after strong trading in the third quarter, sending its shares to an all-time high. Chief executive Chris Moore (above) reported like-for-like sales rose 10.8 per cent in the 13 weeks to 27 September.
Airbus A400M completes trials October 1, 2009 Technicians have completed crucial engine trials on the Airbus A400M military transport plane, clearing a significant obstacle to its long-delayed maiden flight. The in-flight tests were carried out by fitting one of the A400M’s newly developed turbo-prop engines to the wing of a converted Lockheed C130 Hercules transport plane at Marshall Aerospace, a specialist firm [...]
Embraer fears drop in jet orders October 1, 2009 Embraer, the world’s third largest commercial jet maker, expects aircraft orders to decline in 2009 as credit dries up because of the global financial crisis, chief executive Frederico Curado said yesterday. The Brazilian company’s order backlog was also likely to show a slight fall in the fourth quarter, he said.
CIT Group eyes rescue options October 1, 2009 CIT Group is understood to be eyeing a loan of up to $7bn if a planned debt exchange offer fails and the commercial lender has to file for pre-packaged bankruptcy. The board of the lender, which caters to small and mid-sized businesses, is understood to have been meeting to consider a restructuring plan. Under the [...]
ROLET BRINGS IN THE BANKING BIG HITTERS TO EYE UP M&A TARGETS September 30, 2009 MUCHOS excitement on the markets yesterday after Xavier Rolet continued in his quest to stamp his mark on the London Stock Exchange by axing its long-standing M&A advisers. Rolet has made no secret of his ambitious plans for the exchange, which he hopes to turn into a £10bn business via a number of strategic acquisitions [...]
THE FTSE IS BACK September 30, 2009 THE FTSE 100 has recorded its highest ever quarterly rise over the past three months, adding over a fifth of its value on hopes that the economic recovery is firmly underway. The index of Britain’s largest firms opened the third quarter at 4,249 points and climbed 21 per cent to close at 5,134 by the [...]
TOP FIVE BANKS SIGN UP TO BONUS ACCORD September 30, 2009 THE UK’s “big five” banks have committed to rules on pay agreed at the recent G20 summit in Pittsburgh, the Treasury announced yesterday. State-backed Royal Bank of Scotland and Lloyds Banking Group, as well as HSBC, Barclays and Standard Chartered, issued a joint statement saying that they would “work with the FSA (Financial Services Authority) [...]
The US is down, but it is far from out September 30, 2009 THERE is nothing better for the soul than a visit to New York. London is the greatest City on earth; but the Big Apple comes a close second. America has suffered even more badly than Britain from the crisis: a greater number of homes have been repossessed, millions have lost their jobs and vast wealth [...]
Q & A : “BIG FIVE” BANKS AGREE PAY CURBS September 30, 2009 Q. WHAT STANDARDS WILL BANKS HAVE TO MEET?A. The banks have agreed to abide by standards set at last month’s G20 summit in Pittsburgh. These include the Financial Service Authority’s own rules on remuneration, which will be updated to match the G20 agreement. Q. WHAT WILL THIS MEAN FOR DISCLOSURE OF BONUSES?A. Lenders will have [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 30, 2009 FINANCIAL TIMESTHOUSANDS TRAPPED IN EARTHQUAKEThousands of people lay trapped beneath rubble and at least 75 were killed after an earthquake devastated large swathes of Indonesia’s West Sumatra province, according to government officials. Officials warned that the death toll from the 7.6-magnitude tremor – along the same faultline that yielded the earthquake that set off the [...]