BAA re-opens runway and apologises for chaos December 21, 2010 AIRPORT operator BAA last night re-opened the southern runway at Heathrow airport in a bid to end the snow chaos that has left thousands of passengers stranded. Airport bosses hope the move will help them to reduce the delays and cancellations caused by the weather, with 700 flights axed yesterday and only a third of [...]
Has the snow hit your Christmas shopping? December 21, 2010 MATT HAWKER | ZENITH BANK “I wasn’t really affected as I did most of my shopping early – although I have done less shopping online than other Christmases.” GRAEME IRWIN | ALEXANDER DAVID SECURITY “No, I’m an old fashioned shopper so tend to buy presents and take them home from work with me. I’ve done [...]
Weather is just the final straw December 21, 2010 IT isn’t just the snow that has stymied Alexon. True, the combination of closed stores and customers staying at home has been an immediate issue. But for too long Alexon’s clothes haven’t been the indispensable buy needed to haul shoppers in during the recession. It has also been crippled by millions of pounds of lease [...]
AstraZeneca counts cost of risky drug December 21, 2010 DRUGS company AstraZeneca has binned its experimental infant lung disease drug following objections from US regulators, costing the firm upwards of £286m. The company said yesterday its motavizumab drug would be discontinued, after Food and Drug Administration (FDA) advisers asked for more information on trials in June. The costs are linked to intellectual property and [...]
Analyst views: what does the news mean for astrazeneca? December 21, 2010 SAVVAS NEOPHYTOU | PANMURE GORDON It’s never a good sign when a pipeline asset is withdrawn, but this is financially fairly painless. It’s more evidence of AstraZenca’s struggle with its pipeline delivery. MIKE MITCHELL | SEYMOUR PIERCE It shows that AstraZenca’s strategy is higher risk than previously thought. Regulatory hurdles are hitting hard, and it [...]
Anglo to restructure debts December 21, 2010 Bondholders at Anglo Irish Bank have voted to support a restructuring of the bank’s debts. More than 90 per cent of holders of two sets of outstanding bonds have agreed to take part in the restructuring in exchange for an offer of 20 per cent of the face value of their claims. The exchange, which [...]
BG appoints new finance chief December 21, 2010 Former Vale finance chief Fabio de Oliveira Barbosa is to join BG Group as chief financial officer. Long-standing finance chief Ashley Almanza will stand down from the UK-based oil and gas company in March. Oliveira Barbosa will help to spearhead the firm’s expansion in Latin America.
Ofcom warns BT on competition December 21, 2010 Communications regulator Ofcom has warned BT it has infringed on competition law over its wholesale calls prices. The telecoms giant strongly denies the claims it squeezed margins by setting the price charged to other providers for its wholesale service at a level that would hit other operators between July 2008 and April 2009.
TD Bank buys Chrysler Financial December 21, 2010 Toronto-Dominion Bank is buying Chrysler Financial for $6.3bn (£4.1bn). Yesterday’s cash deal, which includes about $400m in goodwill, will make Canada’s second largest bank one of North America’s biggest bank-owned auto lenders. The bank won’t issue any stock to fund its purchase from Cerberus Capital Management.
BAE fined over Tanzania deal December 21, 2010 ARMS group BAE Systems yesterday received a £725,000 penalty after a probe into allegations about an arms sale to Tanzania, but a judge criticised a deal it struck with the Serious Fraud Office (SFO) to end the investigation. A London court handed down the sentence, including a £500,000 fine plus costs of £225,000, to BAE for [...]
