Airline traffic growth is knocked off course by Eurozone worries June 7, 2012 IAG, the parent firm of British Airways and Iberia, has been hit by Spain’s economic woes in the last month, undermining the strength in its long-haul London routes. IAG said yesterday that its traffic, measured in revenue passenger kilometres, rose 6.6 per cent last month versus May 2011, while passenger load factor – a measure [...]
Bwin.Party executive pay deal dodges the shareholder spring June 7, 2012 BWIN.PARTY has survived its annual general meeting almost unscathed by the recent shareholder spring. Less than eight per cent of shareholders yesterday voted against the gambling firm’s remuneration report, which was backed by a majority of 92.36 per cent. This is a significantly better result than the average shareholder dissent so far this year, more in [...]
Russia’s biggest lender posts 13 per cent jump in earnings June 7, 2012 RUSSIA’S biggest bank, Sberbank, said yesterday that its net profit grew 13.1 per cent for the first five months of the year, driven by growth in loans to corporate and retail clients. The figures reported are under Russian accounting standards, which have various differences to international financial reporting standards (IFRS) in the way they account [...]
Synergy Health bets on the US with $25m SRI Surgical takeover June 7, 2012 SYNERGY Health said yesterday it would buy US based SRI Surgical Express to increase its presence in the world’s largest healthcare market and expand its reach out of the struggling UK and European economies. Synergy, a healthcare services provider, said it would pay $3.70 per SRI share, a two per cent discount to SRI’s closing [...]
LONDON 2012 IMAGE OF THE WEEK June 7, 2012 London 2012 has unveiled the key items that will be used across the 805 victory ceremonies at the Olympic and Paralympic Games. The royal purple podiums have been created by students from the Royal College of Art in London. The bouquets were designed by UK florist Jane Packer. Between now and the start of the [...]
Lamprell investors rebel over pay June 7, 2012 Shareholders in oil and gas engineer Lamprell yesterday staged a minor revolt over pay, with 11 per cent voting against the directors’ remuneration package. The meeting at the company’s headquarters in Dubai came just weeks after the contractor issued a profit warning in which it said pre-tax loss in the first half to 30 June [...]
Ultra buys US power company June 7, 2012 Defence and security group Ultra Electronics said yesterday it had paid $12.5m (£8m) for RFI, a US power conversion business. RFI is owned by US electronic systems and components company DGT Holdings. The deal is subject to approval by DGT shareholders, but is expected to close in the third quarter of this year.
Panasonic has no Olympus plans June 7, 2012 Japanese electronics maker Panasonic has no plan to invest in Olympus, president Fumio Ohtsubo said yesterday, contradicting a report that it would invest in the medical equipment maker, which is struggling to recover from an accounting scandal. Kyodo news agency reported on Wednesday that Panasonic was making final arrangements to provide up to ¥50bn (£403m) [...]
Johnson Matthey proposes a special dividend as profit lifts June 7, 2012 JOHNSON Matthey, the world’s largest supplier of catalytic converters, yesterday posted larger than expected profits and proposed its first ever special dividend. The company was buoyed by sales of trucks in North America and more diesel cars in Europe. Johnson Matthey, which makes catalysts to convert toxic engines emissions, sells pharmaceutical ingredients and refines platinum, [...]
Tullow buoyed by Ivory Coast oil discovery June 7, 2012 TULLOW Oil said yesterday that it had found oil in the Ivory Coast, giving it confidence that it will make additional discoveries in waters to the west of its key Jubilee field in Ghana. The British explorer said that the Paon-1X exploration well in the CI-103 licence had found good quality light oil. The successful [...]