Volvo air sale to take flight March 11, 2012 ENGINEER GKN has moved closer to an £800m deal to buy Sweden’s largest aerospace company. The British car and plane parts manufacturer is in talks with Volvo over its aircraft business, which was put up for sale in the autumn. The FTSE 100 firm is believed to be working again with boutique investment bank Gleacher [...]
Airlines hire Rothschild to sell off NATS March 11, 2012 A GROUP of seven airlines, under umbrella company The Airline Group, has hired Rothschild to protect its stake in the National Air Traffic Services (NATS) during the government’s sale of its 48.9 per cent share. The deal, which could earn the state £1bn, was announced by chancellor George Osborne last year and is expected to [...]
Aviation groups call for delay to EU carbon rules March 11, 2012 LEADING European aviation companies have warned that European Union plans to charge airlines for carbon pollution could jeopardise jobs and huge trade deals with China. The group of major airlines and plane makers – including Airbus, British Airways, Virgin Atlantic, Air France, Air Berlin and Iberia – said the EU emissions trading scheme (ETS) for [...]
JAPAN MARKS TSUNAMI ANNIVERSARY March 11, 2012 WITH a moment of silence, prayers and anti-nuclear rallies, Japan yesterday marked one year since the earthquake and tsunami that killed thousands and set off a radiation crisis. Mourners offered silent prayers for victims of the 11 March 2011 earthquake and tsunami during a rally denouncing nuclear power plants in Koriyama, Fukushima Prefecture.
Rising output eases fears of recession March 11, 2012 PRIVATE sector output has continued to expand in nearly every English region, a survey by Lloyds TSB revealed this morning. The latest purchasing managers’ index showed that output grew in every region except for the south west. “Despite an overall dip in growth from January’s high, private sector activity across the English regions still expanded [...]
Business morale springs back March 11, 2012 BUSINESS confidence jumped to a nine-month high last month according to a survey released this morning, suggesting that the UK has avoided a double dip recession. And in another positive sign for the economic recovery, a separate study shows that small firms are feeling more upbeat. Over half of members polled by the Federation of [...]
London rental costs slide due to weak jobs outlook March 11, 2012 THE WEAK jobs market in the City is partly responsible for a decline in central London rents, new research suggested this morning. Residential rental costs soared in the capital from mid-2009 to the end of last year – but have now started to ease off. On a three-monthly basis designed to iron out monthly fluctuations, [...]
Government to back up mortgages for new builds March 11, 2012 THE GOVERNMENT will today launch a scheme designed to make new-build homes available to more first time buyers. The NewBuy programme will use an indemnity fund and government guarantee to back up 95 per cent loan-to-value mortgages. The mortgages will reduce the size of required deposits, its proponents say. Property website Rightmove argues that the [...]
Lending to small firms declines despite scheme March 11, 2012 A GOVERNMENT scheme to boost lending to small companies is on the wane, according to a lending advisory service. Lending under the Enterprise Finance Guarantee (EFG) scheme dipped to £77.8m in the final three months of last year – a drop of 24 per cent from 12 months earlier. The EFG programme sees the government [...]
DIXON SETS SAIL FOR A PLUSH NEW HABITAT March 11, 2012 Tom Dixon, Habitat’s former head of design, has conjured up interiors for some of London’s swankiest hangouts including Shoreditch House, the Paramount Club at the top of Centre Point and Jamie Oliver’s Barbecoa restaurant at One New Change. The British designer is now moving into uncharted waters: turning Sea Containers House on London’s South Bank [...]
