Fastjet to take off to South Africa September 30, 2013 Fastjet said yesterday it is set to launch its first international flights outside of Tanzania in the coming months. The African budget airline said its first route to Johannesburg is now on-sale, with flights to Zambia and Malawi due to launch soon. The group saw operating losses widen to $39m (£24m) in the first half [...]
AstraZeneca drug clears hurdle September 30, 2013 AstraZeneca said yesterday that it had moved one step closer to being able to market a new drug to help ovarian cancer patients. The FTSE 100 pharmaceuticals giant said that the European Medicines Agency had accepted its Marketing Authorisation Application (MAA) for olaparib. A spokesperson for the firm said it hopes to hear whether it [...]
Keller wins Singapore contract September 30, 2013 FTSE 250-listed engineering firm Keller Group yesterday said it has won a £33m contract for construction work relating to a hospital in Singapore. The Singapore government-funded project will create a new hospital that will cater for over 700,000 residents in the region. Work is expected to start next month and be completed in the third [...]
City Moves for 1 October 2013 | Who’s switching jobs September 30, 2013 Aon Hewitt The human resources solutions company has appointed Stuart McKinnon as a principal consultant in its global investment consulting practice. McKinnon has over 17 years’ investment management experience, and joins from Lane Clark & Peacock. City Financial The fund management firm has made two hires. Peter Toogood joins from Morningstar, where he was investment services [...]
Lowest inflation since 2010 for euro economies September 30, 2013 BELOW target inflation is still being recorded in the Eurozone despite a nascent recovery, with the lowest consumer price index (CPI) growth in three and a half years revealed. Figures released yesterday showed CPI at only 1.1 per cent in the 12 months to September, indicating the smallest rise in prices since the first quarter [...]
Slow growth for China as factory sector edges up in September September 30, 2013 CHINA’S manufacturing industry saw a narrow expansion in September, roughly equal to August’s growth, according to purchasing managers’ index (PMI) figures released by HSBC yesterday. The figure has been revised down from 51.2, which was HSBC’s first estimate, but still sits marginally above 50, which indicates some meagre growth in the sector. The measure indicates [...]
Coeure calls for limited national control on bloc’s banking union September 30, 2013 EUROPEAN Central Bank (ECB) board member Benoit Coeure argued in favour of limiting Eurozone nations’ discretion over new bail-in rules during a speech yesterday. Coeure said: “The degree of discretion national resolution authorities will have in applying the bail-in rules… in my view should be as constrained as possible.” Some leaders have dragged their feet [...]
Abe expected to announce tax hike and new stimulus for Japan September 30, 2013 SHINZO Abe, Prime Minister of Japan, is set to announce a hike to the country’s sales tax today, paired with measures designed to offset negative effects on demand. Japan’s consumption tax is primed to rise from five per cent now to eight per cent in April. Though there has been opposition, Abe is backed by [...]
Telecom Italia boss to resign September 30, 2013 Telecom Italia chief executive Franco Bernabe could resign on Thursday at the company’s next board meeting, following Telefonica’s move to become Telecom Italia’s largest shareholder last week. The Wall Street Journal reported that Bernabe’s resignation is intended to ease tension within the company’s board that has clashed over the company’s strategic direction. At the end [...]
New manager at Freshfields September 30, 2013 Freshfields’ longest ever serving managing partner Ted Burke is leaving after eight years to move to the US, the law firm said yesterday. The global managing partner will join private equity firm Arclight Capital, one of his clients at Freshfields. London competition partner David Aitman, who has been at the group since 2001, will replace [...]