Primark sales boost shares in AB Foods September 7, 2009 STRONG demand for cheap clothes yesterday prompted Primark owner Associated British Foods to hike its full-year earnings forecasts. AB Foods finance director John Bason said Primark like-for-like sales rose by seven per cent in the six months to 12 September, in contrast to declining sales at high street rivals such as Marks Spencer and Next. [...]
Aer Lingus’ summer air traffic boosted by short haul flights to budget beaches September 7, 2009 IRISH low cost airline Aer Lingus said yesterday its total passenger numbers for August were up 7.7 per cent year-on-year, as it flew 1.09m people over the summer month. The airline put the boost down to a 10 per cent surge in short-haul flights to cheap holiday destinations. Aer Lingus flew 973,000 short haul passengers [...]
Embraer delivers first of BA CityFlyer’s 170 jets September 7, 2009 BA CityFlyer, a subsidiary of flag carrier British Airways (BA), has taken delivery of the first of its six 76-seat Embraer 170 jets which will be based at London City Airport. “This first delivery to British Airways is a remarkable milestone that makes us particularly proud, since it’s the last of the four largest European [...]
BOARD BEHIND THE BARGAINS September 7, 2009 GEORGE WESTONChief executive; family owns 55 per cent of AB Foods JOHN BASONFinance director, AB Foods MARTIN ADAMSONChairman, AB Foods
Rivington Street raises 2m September 7, 2009 Media and financial services group Rivington Street Holdings has completed a £2m fund-raising exercise for its new fund SF t1ps Smaller Companies Gold. The fund, which has raised more than double what was expected, will invest in firms which mine, develop and produce gold, silver and other precious metals. It is the third fund to [...]
Maldives unveils $3 tourist tax September 7, 2009 The president of the Maldives has unveiled plans for a daily $3 (£1.80) tax on tourists to fund the country’s radical efforts to combat climate change. President Mohammed Nasheed has announced a series of measures to ward off the threat of rising sea levels on the island nation, which is on average little more than [...]
Hansteen plans exit from AIM September 7, 2009 Property firm Hansteen has announced its intention to move from AIM to the Official List and transform itself into a Real Estate Investment Trust (REIT). The company said it would hold a meeting with investors on 25 September to discuss the plans and hopes to complete its transfer to the Official List in early October, [...]
Swiss agrees UK tax treaty September 7, 2009 FINANCIAL secretary Stephen Timms yesterday signed a tax treaty with Switzerland that will give UK authorities access to more information on the activities of wealthy banking clients in the European tax haven. The deal takes Switzerland a step closer to the 12 international agreements it needs to sign to be removed from a global grey [...]
Cadbury-Hershey merger would be best September 7, 2009 EVER since I can remember, the markets have been expecting a bid for Cadbury. The names in the frame haven’t really changed for 15 years. A bid became even more likely when the firm sold off its soft drinks unit, a decision which was well-received by the markets but which I always thought was a [...]
Kraft may have to sweeten deal September 7, 2009 KRAFT’s £10.2bn approach to Cadbury may have been rejected by Todd Stitzer’s board, but it did not surprise those who have been anticipating more M&A activity since Mars’s high-profile takeover of Wrigley was announced in April last year. The deal – which saw Mars pay $23bn (£14.1bn) in cash for America’s largest chewing-gum maker – [...]
