Ryanair issues threat to Boeing over planes November 2, 2009 RYANAIR, the European budget airline run by colourful Michael O’Leary, signalled a U-turn in its growth plans yesterday, saying it might stop expanding if it fails to negotiate a better deal with Boeing on new aircraft. The carrier, which has been following an aggressive growth-plan despite the slump, is talking to the US planemaker about [...]
HOW SERIOUS IS RYANAIR ABOUT SCALING BACK GROWTH PLANS? November 2, 2009 HENK POTTS BARCLAYS WEALTH“O’Leary is fantastic at using his results to communicate to passengers, as well as to business partners on how his company can benefit them. Yesterday’s numbers further demonstrate that no frills airlines are finding it easier than flag carriers to get through the downturn.” MANOJ LADWAR ETX CAPITAL“That was a very interesting [...]
Spreadex breaks records in October November 2, 2009 SPREAD betting firm Spreadex recorded its highest ever monthly betting volumes in October, boosted by the launch of its new website at the start of the month. The numbers – which include trading on the company’s ShortsandLongs.com platform – were up 8.6 per cent on previous best-ever levels. The privately-owned company declined to give actual [...]
M&A may rebound next year, says UBS November 2, 2009 GLOBAL mergers and acquisitions (M&A) may rebound from a four-year low next year, rising roughly 15 per cent to about $2.5 trillion (£1.5 trillion) to $2.7 trillion as the dealmaking environment improves, strategists at UBS said. Any such pick-up would be welcome for shareholders — UBS said investors have historically received bid premiums of 30 [...]
Nestl boss says he should have seen off rivals November 2, 2009 NESTLE, the world’s biggest food group, should have reacted faster to competitors’ price cuts to avoid slowing sales, chief executive Paul Bulcke said in an interview. Bulcke said the group, whose sales growth this year lagged that of competitors such as Unilever, Danone and Kraft Foods, should have seen the danger of losing market share [...]
Fujitsu in strike threat November 2, 2009 MEMBERS of Unite, the largest union in the UK, have voted to take industrial action at the Fujitsu IT services company in the UK over plans to slash pension benefits and impose widespread redundancies. Around 74 per cent of those voting decided in favour of strike action and 92 per cent voted for industrial action [...]
Profits dip at Chloride on flat sales November 2, 2009 POWER protection company Chloride Group yesterday posted a 16 per cent drop in adjusted pre-tax profits for the half year, but said it was confident about its prospects for the year. The firm, which protects against power shortages at Heathrow Airport’s Terminal 5 and Arsenal’s Emirates stadium, posted adjusted pre-tax profit of £16.2m and said [...]
Insight deal completed as staff go November 2, 2009 LLOYDS Banking Group yesterday cut another 120 staff as part of the completion of the £235m sale of its Insight Investment Management business to Bank of New York Mellon. On another bleak day for banking jobs, Lloyds said 331 staff would move to BNY Mellon as part of the deal while 12 would be kept [...]
Investors reckon recovery will continue November 2, 2009 THE share price recovery is set to roll into next year thanks to government efforts to kick-start economies, a poll showed yesterday. More than 75 per cent of investors were confident of a neutral or positive equity market outlook in 2010, according to the Global Investor Review survey of 150 major investment banks. The driver [...]
Green light for CO2 deal November 2, 2009 JP MORGAN subsidiary Carbon Acquisition Company’s £1.05 a share offer to acquire emissions trading group EcoSecurities has become wholly unconditional and is expected to complete during December. The deal has acceptances from investors representing more than 80 per cent of EcoSecurities’ share capital. Upon completion of the transaction, it is expected that EcoSecurities will operate [...]
