Emirates to resume Libya flights August 13, 2012 Dubai’s flagship airline Emirates, the largest carrier based in the Middle East, will resume flights to Libya in October after suspending them for almost 18 months following the outbreak of civil unrest. Emirates will operate four flights a week from Dubai to capital Tripoli starting on 29 October, using an Airbus A330-200, the airline said [...]
Telenet rules itself out of bid for KPN’s BASE August 13, 2012 Belgium’s largest cable operator Telenet said today it does not see itself making any major acquisitions any time soon, effectively ruling itself out of making a bid for KPN’s BASE. Telenet had submitted a non-binding bid for BASE, Belgium’s third-biggest mobile phone company, people familiar with the process told Reuters last week. Other bidders were [...]
Michael Page sees challenging second half August 13, 2012 Recruiter Michael Page International said trading would remain challenging after first-half adjusted pre-tax profit fell 21 per cent to £36.1m. ‘We anticipate a challenging second half as we enter the seasonally quieter summer period in both continental Europe and the UK,’ chief executive Steve Ingram said today. ‘This is set against tough comparables and an [...]
IAG eyes stake in American Airlines August 13, 2012 International Airlines Group (IAG), the parent company of British Airways, may consider taking a stake in American Airlines, in a move that could block any takeover of American by IAG rival Delta. ‘We would consider taking a stake in American Airlines if that is something that American would welcome,’ an IAG spokeswoman said yesterday. Her [...]
Global shares inch down as growth worries weigh August 13, 2012 Asian shares edged lower today as investors saw further evidence of slowing global growth, while the bleaker economic outlook kept hopes alive that authorities around the world will embark on more stimulus measures. European stocks were likely to inch higher, while a 0.3 per cent drop in US stock futures signalled a weak Wall Street [...]
FSA’s Wheatley says no deadline for commodities review August 10, 2012 Any reform of how benchmarks for oil, gold and other commodity prices are set would be handled at the global level, Britain’s Financial Services Authority (FSA) said today. FSA managing director Martin Wheatley has been tasked by the UK government to reform the interest rate Libor after Barclays was fined for rigging it. He published [...]
China trade data weighs on FTSE August 10, 2012 Britain’s top share index dipped this morning, weighed down by weakness in mining stocks and demand concerns following poor trade data from China. The FTSE 100 was down 0.1 per cent following weak trade figures and a nine-month low in crude oil imports which painted a picture of a slowing economy. Meanwhile, disappointing economic data [...]
FSA launches Libor rate overhaul August 10, 2012 Libor benchmark interest rates are no longer “fit for purpose” and must be changed or replaced, Britain’s regulator said today as he set out proposals to restore their credibility. The initial review by the Financial Services Authority (FSA) is the first concrete step to reforming Libor after a rigging scandal that has dragged in global [...]
US drought, food prices fan fears of new crisis August 10, 2012 Global alarm over a potential repeat of the 2008 food crisis escalated after data showed food prices had jumped 6 per cent last month and importers were snapping up a shrivelled US grain crop, helping drive corn prices to a new record. Ahead of a critical government report on Friday on the state of the [...]
Germany sees major economic risks from euro crisis August 10, 2012 The German economy is expected to have grown moderately in the second quarter but it faces “significant risks” linked to the Eurozone crisis, the economy ministry said today. “After the strong growth of the first quarter, the momentum has weakened noticeably because of a slowing international environment,” the ministry said in a statement, before the [...]
