US officials give BA the go ahead to fly alongside AA July 21, 2010 BRITISH AIRWAYS’ (BA) shares took off yesterday on news that US officials have given its transatlantic partnership with American Airlines (AA) the green light. A nod from the US Department of Transport (DOT) was the last hurdle for the airline after receiving approval from European regulators last week. The approval means the two airlines, along [...]
Analysts warn over easyJet dispute July 21, 2010 ANALYSTS have warned that the bitter dispute between easyJet owner Sir Stelios Haji-Ioannou and the budget airline could “undermine the value of the company’s shares”. A note issued by stockbroking group Numis yesterday said that the ongoing argument over the use of the “easy” brand makes it “difficult to see marginal new investors being enticed [...]
Starbucks let down by 2010 earnings goal July 21, 2010 STARBUCKS disappointed Wall Street with fiscal 2010 and 2011 profit forecasts that matched or lagged Wall Street’s expectations, sending its shares down more than two per cent. The Seattle-based chain, which has just completed a restructuring, yesterday raised its fiscal 2010 earnings target to $1.22 (80p) to $1.23 per share, from $1.19 to $1.22 per [...]
Coca-Cola profits top forecast July 21, 2010 Coca-Cola reported a higher-than-expected quarterly profit yesterday, helped by increased sales volume in most of its markets. The maker of Diet Coke, Sprite and Fanta soft drinks saw worldwide sales by volume rise five per cent, driven by gains in all of its markets except Europe, where volume fell one per cent due to the [...]
Ebay rises after predicting a strong 2010 for PayPal July 21, 2010 WEB commerce company eBay beat Wall Street’s quarterly profit estimates, helped by a record performance at its PayPal online payments unit and strong marketplace sales in Europe. Shares in the company jumped 3.6 per cent after-hours as it predicted PayPal would maintain its strong results through the year. At the same time, it warned that [...]
CITY VIEWS: DO YOU THINK STARBUCKS CAN MAKE A COMEBACK? July 21, 2010 ALAN KERSLAKE | MIZUHO CORPORATE BANK “I’m not a great coffee drinker – I only tend to get one as a treat. Starbucks has donated volunteers and free coffee to school fairs in Bromley, which has been beneficial for all involved. But the price of coffee is getting a bit silly nowadays.” DAIRN BRERTZ | [...]
Land Secs set to restart its £350m mall July 21, 2010 THE UK’S largest real estate investment trust Land Securities will restart work on a £350m shopping centre in Leeds next month, in the biggest retail project seen outside of London since the recession. The property group said it waited until 47 per cent of the Trinity Leeds mall was let before agreeing a construction contract, [...]
Northacre losses up as projects shelved July 21, 2010 PROPERTY developer Northacre suffered pre-tax losses of £3.9m last year, though the firm softened the blow by selling off several assets including the Kensington Odeon and taking advantage of rising property values. The central London specialist blamed a lack of confidence in the lending market for its difficulty in securing work, which has spread to [...]
Madoff trustee files fresh suit July 21, 2010 ATHE trustee overseeing the liquidation of Bernard Madoff’s financial advisory firm has sued 43 new defendants affiliated with a hedge fund firm that fed money to the now-imprisoned swindler. The trustee is seeking more than $3.6bn (£2.4bn) of damages in the lawsuit. Walter Noel, a co-founder of Fairfield Greenwich Group, was among those added to [...]
City jobs boom for accountants July 21, 2010 THE JOB market looks rosy for qualified accountants, as recruitment levels recovered to pre-recession levels at several firms in the second quarter of the year. Employers were paying up to £100 more per day for contractors than they were during 2009, according to recruiter Robert Walters, with experienced product controllers commanding between £375 and £475 [...]
