Lufthansa strike: Nearly 1,000 flights to be cancelled tomorrow as German airline cabin crew row continues November 8, 2015 More than 110,000 passengers will be affected after German airline giant Lufthansa said today it would cancel 929 flights due to a cabin crew strike tomorrow. The strike is part of a week of action organised by cabin crew union UFO to push demands in a long-running row over early retirement benefits and pensions. The [...]
Lonmin set to reveal record losses as it pins hopes on rescue rights issue amid low platinum prices November 8, 2015 Troubled mining company Lonmin is expected to reveal record losses tomorrow, when it publishes its annual results. The firm has warned that it is facing a $2bn (£1.3bn) writedown as the price of platinum could remain low in the short-to-medium term. It has come up with a plan to weather this storm, which includes possible [...]
Tata Steel criticised by small businesses after asking suppliers for 30 per cent price cut November 8, 2015 Embattled Tata Steel has drawn criticism from small businesses after asking suppliers to give it a massive price cut. According to the letter seen by the Sunday Telegraph, it has asked for an immediate 10 per cent cut which it plans to increase 30 per cent as it tries to pass on the effects of [...]
McLaren plans for 2016 rebound as it posts £20m loss in 2014 November 8, 2015 McLaren made a loss last year, according to financial results released this month. The company, which changed its name to McLaren Technology Group in January, turned over £265m in 2014 but ended up making a loss of £20m compared with a £23m profit in 2014. The name change was done to reflect the company’s foray [...]
In pictures: The Paris Airshow 2015 November 8, 2015 The Paris Air Show, which takes place in Le Bourget Airport, will see 120 civil and military aircraft take to the skies between 15 – 21 June. But that's not all. It brings together representatives from plane manufacturers, engine makers, defence personnel, luxury private carriers and airlines to get a number of deals signed off. Yesterday, [...]
Here’s how Goldman Sachs wants to hang on to its millennial workers November 6, 2015 Goldman Sachs isn't known as the doting type – but it seems the investment banking giant has found a new, more maternal streak, after it outlined a series of measures to ensure its millennial workers go elsewhere. The bank has unveiled a range of initiatives to ensure its youngest employees aren't tempted to leave the [...]
Lonmin’s share price is tanking after platinum miner warns shareholders to approve $400m rights issue or face company closure November 6, 2015 Lonmin shares are down 14 per cent this morning, and more than 33 per cent since the start of the week, after warning that it would need to tap shareholders for $400m to help refinance or face the possibility of closure. The business warned that it would have to stomach a $2bn writedown as low platinum prices [...]
TalkTalk hack: Share price bounces as telecoms giant lowers estimate of number of customers affected to less than 157,000 November 6, 2015 TalkTalk shares rose six per cent to 234p in the first minutes of trading this morning, after it lowered its estimate of the number of people affected by last month's hack to less than 157,000 people. In conjunction with the police, the telecoms giant said it now believed just 15,656 bank account numbers and sort codes were [...]
International Airlines Group passenger numbers jump as British Airways names Alex Cruz new boss November 6, 2015 International Airlines Group (IAG) said this morning passenger numbers jumped 16.6 per cent in October this year – as it named the new boss of British Airways. On a pro-forma basis, that increase was 7.6 per cent. Meanwhile, group capacity measured in available seat kilometres rose 13.2 per cent – up 4.3 per cent on [...]
Marks and Spencer, Randgold Resources, Partnership Assurance: Best of the Brokers for 6 November 2015 November 6, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com MARKS AND SPENCER Canaccord Genuity has changed its rating for Marks & Spencer to “hold” with a target price of 570p, after it was briefly “under review” and previously “speculative buy” at 550p. M&S released interim results on Wednesday that the broker thought [...]