Airbus to up plane fleet September 4, 2012 Airbus sees demand for some 28,000 new aircraft worth $4 trillion (£630bn) to cater for air travel growth in the next 20 years, the European planemaker said today. By 2031, the global passenger plane fleet will rise to over 32,550 aircraft from 15,500 today, Airbus said, adding that the Asia Pacific region would account for [...]
FTSE 100 falls on negative investor sentiment September 4, 2012 The blue chip index lost yesterday’s gains as shares across the board fell, as investors were cautious over muted economic data. Data out today from the British Retail Consortium showed that retail sales fell in August as the Olympics failed to encourage spending. Household goods manufacturer McBride led the fallers in early deals, down 6.44 [...]
Swiss economy slumps on lower exports September 4, 2012 The Swiss economy unexpectedly shrank in the second quarter as the impact of the Eurozone crisis weighed on the country’s exports, providing further justification for the central bank’s cap on the strong franc. The Swiss National Bank (SNB) imposed a 1.20 per euro limit on the franc a year ago to ward off a recession [...]
Ashtead profit boosted by US recovery September 4, 2012 Industrial equipment hire firm Ashtead raised its annual earnings guidance after first quarter profits almost doubled, helped by strong growth at its US business. The British firm, which makes over 80 per cent of revenue from its US unit Sunbelt, said today that its underlying pre-tax profit rose 82 per cent to £61.4m in the [...]
Singapore charges Shell over safety lapses in refinery fire September 4, 2012 Authorities in Singapore have charged Royal Dutch Shell with safety lapses leading to a major fire last year at the Anglo-Dutch giant’s 500,000 barrels-per-day refinery in the city state. Shell’s Bukom refinery is its biggest plant worldwide and makes up more than a third of Singapore’s capacity. The company faces a fine of up to [...]
Russia’s MegaFon seeks London listing September 4, 2012 MegaFon, Russia’s leading mobile phone operator, has submitted a request to the national markets regulator for permission to list proxy shares in London, bringing it a step closer to a major initial public offering. MegaFon, in which Russia’s richest man Alisher Usmanov took control in a complex deal in April, had been eyeing the float [...]
Lufthansa says 190 Frankfurt flights hit by strike September 4, 2012 Lufthansa said about 190 flights to and from Frankfurt airport would be cancelled today because of strikes in a fight over pay and working conditions. Lufthansa said only a handful of long-distance flights would be impacted, adding around half of short and medium-distance flights were cancelled. The German cabin crew union, UFO, said it was [...]
Banks slash juniors’ pay September 3, 2012 INVESTMENT bankers’ pay tumbled further this year, with junior staff’s bonuses plunging on poor market conditions, a lack of competition in the sector and sustained pressure to avoid public outrage. Average bonuses fell 25 per cent on the year for analysts in the investment banks’ merger and acquisitions (M&A) units, following a fall of 10 [...]
Cameron’s first cabinet reshuffle gets underway September 3, 2012 DAVID Cameron last night launched his first cabinet reshuffle by promoting Andrew Mitchell to the position of chief whip. The decision to move the former international development secretary, who once served as a UN peacekeeper, is an attempt to instil discipline into the parliamentary Conservative party. Mitchell will replace Patrick McLoughlin, who is set to stay [...]
PwC overtakes KPMG as Britain’s biggest auditor September 3, 2012 BIG FOUR auditor PwC has leapfrogged its rival KPMG to become the top British auditor by client numbers, according to figures out yesterday. PwC only added three net new listed clients in the third quarter, but with a total of 370 it was enough to overtake KPMG, which lost a net 12 clients to put [...]
