Air Asia X axes only UK route January 12, 2012 EUROPE’S laws and taxes on airlines were brought into sharp focus yesterday, as routes were scrapped and Ryanair hiked its charges in response to regulations. Low-cost carrier Air Asia X ditched its Gatwick to Kuala Lumpur flight as part of its withdrawal from unprofitable routes over the next year. Its only UK route, which was [...]
European media firm Mecom predicts a profit slump thanks to advertising lows January 12, 2012 LOW ADVERTISING revenues have dragged profit down at Mecom, the European publisher which saw profits sink by €5m (£4.2m) in the second half of 2011 compared to the same time last year. However, this sum is significantly less than the €10m profit decline Mecom expected to see, leading to estimated earnings before interest, tax, depreciation [...]
Daily Mail publisher doles out millions in exec’s pay January 12, 2012 PADRAIC Fallon, the chairman of DMGT-owned Euromoney Institutional Investor, pocketed a bonus of £5.14m in 2011, in addition to a salary of £223,000, according to the publishing group’s annual report. Daily Mail General Trust generated revenues of £1.99bn last year, of which £862m was from Associated Newspapers. The firm dished out a total remuneration of [...]
Samsung open to link-up with troubled Olympus January 12, 2012 SOUTH Korea’s Samsung Electronics is open to forging an alliance with Japan’s troubled Olympus, potentially joining other electronics firms in circling one of the world’s biggest names in medical equipment, sources said. Samsung’s major Japanese rivals, Sony and Panasonic, have already shown interest in Olympus, now in need of capital after being swamped by a [...]
London 2012 IMAGE OF THE WEEK January 12, 2012 GYMNASTICS | WARM UP The Visa International Gymnastics takes place at the North Greenwich Arena between 10 and 18 January as part of the London Prepares series of test events being organised by LOCOG ahead of the London 2012 Olympic and Paralympic Games Between now and the start of the 2012 Olympic and Paralympic Games, [...]
JP Morgan shuffles executives January 12, 2012 JP Morgan Chase chief executive Jamie Dimon said yesterday that long-time colleague Jay Mandelbaum is leaving the company and that he is shifting the responsibilities of several operating executives. Mandelbaum, 49 years old and head of strategy and business development, has left to pursue other interests, Dimon said in a memo to staff. Doug Petno, [...]
German aid for Computacenter January 12, 2012 International expansion, with particularly strong growth in Germany, has helped IT services provider Computacenter boost its group revenue by seven per cent in the face of a challenging year in the UK. The company reported net cash of £111.5m – an increase of half a million pounds – despite having spent £29m on three acquisitions [...]
A happy Christmas for UK Mail January 12, 2012 Internet shoppers wanting home delivery over Christmas contributed to a successful third quarter for UK Mail Group, whose parcel division grew by ten per cent over the period. In line with expectations, UK Mail said reported group revenues increased six per cent compared to the previous year, while revenues on an underlying basis sank four [...]
OECD figures point to a UK contraction January 12, 2012 MOST developed economies will slow further in the coming months, the Organisation for Economic Cooperation and Development (OECD) warned yesterday. Only Japan, the US and Russia are showing positive signs, the body’s leading indicators suggest. In November the UK’s index — which aims to predict economic turning points six months in advance — slowed 0.4 [...]
Small asset rise at Ashmore January 12, 2012 UK FUND manager Ashmore Group yesterday reported a small rise in assets in the fourth quarter, helped by inflows into debt products and a recovery in its core emerging markets. Ashmore said assets grew 2.5 per cent to $60.4bn (£39.4bn), driven by $500m of net inflows and $1bn in positive performance. The numbers beat a [...]
