June is a bumper month for Ryanair and EasyJet July 6, 2009 BUDGET airlines Ryanair and EasyJet yesterday said they had recorded year-on-year passenger increases after an exodus of passengers from premium rival British Airways (BA). Figures for June showed that Ryanair carried more passengers than ever before, with 5.8m people using the Irish airline. This represents a 13 per cent increase on passenger traffic from a [...]
WILL JJB SPORTS BE ABLE TO RECOVER FROM THIS SET BACK? July 6, 2009 NICK BUBB PALI INTERNATIONALNews of the deeply discounted rights issue has obviously hit the group. I’m not too surprised by that. JJB’s rival Sports Direct reports trading figures next week and this ‘loan leak’ is designed to hurt Sir David Jones’ reputation and therefore hurt JJB’s abilitiy to raise money and fight back – it’s [...]
CBI’s low-paid ‘limbo’ unlikely July 6, 2009 Richard Nicolle, employment partner at legal giant Denton Wilde Sapte, says the CBI’s proposals of an “Alternative to Redundancy” scheme are unlikely to be taken up by the government. He said the plans are “unlikely to come to fruition” as policymakers will resist any measures that could boost the UK’s unemployment figures. The CBI last [...]
Facebook to make billions by 2014 July 6, 2009 Social networking giant Facebook will likely be posting billions of dollars in revenue in five years, up from about $500m (£308m) this year, according to Silicon Valley entrepreneur Marc Andreessen who sits on the website’s board. Andreessen said the world’s most popular online social network could pile up $1bn in revenue this year if it [...]
CIC may have giant Madoff losses July 6, 2009 French police have opened a preliminary investigation after an allegation by French bank CIC that it has fallen victim to the $65bn fraud committed by “Ponzi” mastermind Bernard Madoff, the public prosecutor’s office said yesterday. CIC, part of mutually owned French bank Credit Mutuel, has said it lost several million dollars as a result of [...]
CARIBBEAN HOLIDAY WINNER IS REVEALED July 6, 2009 A HUGE thank you to all who replied to our online reader survey last week, when you logged on to the website in your droves to give us feedback and suggestions for the paper. Everyone who participated was entered into a fantastic prize draw to win a holiday for two at the Royal Plantation Ochos [...]
BANKS ARE TOLD TO MAKE A WILL July 6, 2009 BANKS will be required to write “living wills” to help regulators wind them down in the event of collapse, under a host of plans to be unveiled tomorrow in chancellor Alistair Darling’s white paper on financial regulation. Financial institutions will be told to organise themselves in a way that allows the authorities to carve them [...]
BA staff in deal snub July 6, 2009 BRITISH Airways’ (BA) cost-cutting plans were dealt a blow yesterday, as 2,000 cabin crew rejected a plan to cut 3,500 jobs, freeze pay and change contracts. The flag carrier is trying to save money after reporting a record full-year loss of £401m earlier this year. BA and unions will reopen negotiations, chaired by conciliation service [...]
EU capital plans near July 6, 2009 EUROPEAN regulators expect to unveil measures to force financial institutions to hold greater capital buffers within months, it emerged yesterday. EU finance ministers are today expected to back a draft report, recommending tightening up capital requirements to ensure banks are prepared for economic downturns.
Goldman man in theft case July 6, 2009 A FORMER Goldman Sachs computer programmer is facing trial over claims that he stole secret trading codes from the firm and published them on a German website. Sergey Aleynikov, 39, was arrested last week and yesterday saw his bail set at $750,000 (£461,000) over charges of “theft of trade secrets”. Authorities have not yet confirmed [...]