Ireland taps Willie Walsh for debt agency October 28, 2013 IRELAND appointed airline chief Willie Walsh to its government debt agency yesterday, securing the former British Airways boss’s broad experience as it returns to financial markets following an €85bn bailout. Walsh, now chief executive of British Airways’ parent International Airlines Group, will become chairman of the National Treasury Management Agency’s (NTMA) board of directors once [...]
Aggreko shares soar on strong trading update October 28, 2013 TEMPORARY power generation firm Aggreko surged to the top of the FTSE 100 yesterday morning, after a strong-third quarter update which showed trading is in line with expectations. Group revenues and trading margins in the three months to 30 September were slightly ahead of the same period last year, excluding the £37m of revenues from [...]
Bottom Line: Power to the pipeline as contracts expire October 28, 2013 IT WAS a pertinent day for an update from Aggreko. As more than 200,000 homes across the UK were left without electricity in the wake of storm St Jude, the firm – which supplies temporary power generators – cheered investors with an upbeat third quarter trading statement. With its business split across local and international [...]
BT revamps TV offering with a la carte bolt-ons October 28, 2013 BT IS stepping up its efforts to win television subscribers from rivals by giving customers the ability to build their own TV packages. The telecoms giant, which has been going head to head with Sky after launching its own sports channels in August, said yesterday it would offer new entertainment and kids bolt-ons to its [...]
MPs doubt Thameslink railway upgrade will complete on time October 28, 2013 THE LONG-RUNNING Thameslink railway upgrade project could miss its intended 2018 completion date, a group of MPs warn in a report released today. The public accounts select committee said it is “not confident” that new trains for the cross-London route will be delivered on schedule – because it took the Department of Transport three years longer than expected [...]
Bankia turnaround mirrors Spanish recovery October 28, 2013 A QUARTERLY rise in lending income showed yesterday that Spain’s Bankia is on the mend a year after its bailout plunged the country into financial crisis, and added to signs of recovery in the Eurozone’s fourth-largest economy. The news will strengthen the Spanish government’s case that it does not need to extend a €41bn (£35bn) [...]
ECB official says Eurozone is out of danger zone October 28, 2013 THE EURO area is out of the danger zone, but to prosper it must restructure its financial sector, foster growth with new business models and avoid protectionism, a top European Central Bank (ECB) policymaker said yesterday. In a speech to the Asia Europe Economic Forum in Beijing, which was entitled Lessons from East Asia for the [...]
Co-op Bank to beef up board with IT director October 28, 2013 EMBATTLED lender Co-operative Bank yesterday revealed it has appointed former HP executive Bill Thomas as an independent non-executive director. The bank has suffered from IT project problems in the recent past, as well as facing calls from investors to beef up its board with more professional directors. Thomas was previously senior vice president of HP Enterprise Services [...]
Sellafield saves less than expected October 28, 2013 The partnership responsible for decommissioning the Sellafield nuclear power plant will make cost savings of just £652m over the course of its five-year contract, it was announced today – £173m less than previously forecast. Earlier this year the National Audit Office was asked by MPs to review how the Nuclear Decommissioning Authority measures cost savings [...]
UK slips down prosperity ranking October 28, 2013 The UK has become a less prosperous place compared to other countries, according to a think tank study published this morning. The Legatum Institute’s index for 2013 has the UK ranked 16th, down from 13th last year. Oil-rich Norway tops the league table, with Switzerland in second place. Other states ranked higher than the UK [...]
