Rising confidence helps boost commercial property activity June 11, 2014 IMPROVING confidence, a rising economy and easing lending conditions have helped to boost activity in the commercial property sector for the 21st month in a row. According to Savills’ monthly index, which monitors 200 commercial property developers’ activity, showed the net balance stood at 26.9 per cent in May, slightly down on the 23.6 per [...]
Republicans in hunt for leader June 11, 2014 THE US Republican Party is hunting for a new leader in the House of Representatives after Eric Cantor’s resignation from the role. Cantor suffered a shock defeat in a primary vote in the state of Virginia this week, losing to the candidate for the anti-tax Tea Party. His departure, expected at the end of July, [...]
More than 300 Transport for London staff now earning over £100,000 June 11, 2014 More than 300 staff at Transport for London are now paid more than £100,000, and the boss of Crossrail’s pay has topped £700,000, new accounts show. Andrew Wolstenholme was awarded a bonus of £176,000 as well as a £523,000 salary in his role as the head of the new railway, giving him a pay rise [...]
Hyder Consulting shares slump as contract delays dent profits June 11, 2014 DESIGN and engineering consultancy firm Hyder Consulting saw its share price plunge over five per cent yesterday, after reporting a decline in full-year profits that missed management’s expectations. The London-listed company, which was selected as an adviser on the Crossrail project, said adjusted pre-tax profit fell to £17m, from £21.6m the previous year. Hyder attributed [...]
Coca-Cola goes green for lower calorie version June 11, 2014 Coca-Cola has swapped its signature red cans in favour of green after unveiling a new version of its famous soft drink yesterday that will have one third less sugar and one third fewer calories than its regular cola. Coca-Cola Life, which will hit UK shelves in the autumn, will have 89 calories per can and [...]
Rolls Royce share price dives on cancelled Emirates order June 11, 2014 Shares in Rolls-Royce slumped 2.8 per cent yesterday after Emirates Airline cancelled an order for 70 Airbus jets, for which the aerospace giant makes the engines. “As a result of today’s announcement, our order book will reduce by around 3.5 per cent or £2.6bn,” said the FTSE 100-quoted firm. Rolls-Royce said it remained confident that [...]
Flybe climbs back into the black as its turnaround plan takes off June 11, 2014 British airline Flybe yesterday showed that its turnaround plan was reaping rewards, as it reported its first pre-tax profit in four years. The carrier made £8.1m last year, compared to a loss of £41.1m the year before. “We have stabilised the business and renewed stakeholder confidence,” boss Saad Hammad told City A.M. The firm launched [...]
Lufthansa stock in tailspin after profit warning June 11, 2014 GERMAN airline Lufthansa clipped the wings of aviation stocks yesterday by issuing a profit warning, blaming pressure on fares in Europe and the US. The firm, Europe’s biggest airline by passenger numbers, said it expected to make an operating profit of €1bn (£805m) this year, down from its previous forecast of between €1.3bn and €1.5bn. [...]
WPP swoops for South African digital agency The Hardy Boys June 11, 2014 ADVERTISING giant WPP yesterday announced it had taken a majority stake in South Africa-based creative ad and brand building agency The Hardy Boys for an undisclosed sum. The deal, made through WPP’s global marketing communications agency JWT, will see The Hardy Boys bring its client list, including Diageo and Unilever, over to JWT. “This investment [...]
Airlines braced for bumper claim payouts after appeal court ruling June 11, 2014 AIRLINES could have to pay out millions of pounds in compensation for flight delays caused by technical defects, after the Court of Appeal ruled in favour of a passenger who had brought a claim against budget carrier Jet2.com. Ronald Huzar’s flight from Malaga to Manchester in 2011 was delayed for 27 hours, when faulty wiring [...]
