American Airlines files for bankruptcy November 29, 2011 American Airlines and its parent company AMR filed for bankruptcy protection after failing to win a deal with pilots earlier this month to pare its labour costs. AMR had been the only major US carrier to avoid bankruptcy proceedings in the past decade, a move its rivals had used to restructure their labour agreements and [...]
Growth revised down – but no recession says Osborne November 29, 2011 Chancellor George Osborne said that the Office for Budget Responsibility (OBR) has revised its growth for 2011 down to 0.9 per cent. The OBR predicts 0.7 per cent growth next year but no recession. In 2013 growth is forecast at 2.1 per cent followed by 2.7 per cent in 2014. The figure is estimated at [...]
Eurozone economic sentiment worse than forecast November 29, 2011 Eurozone economic sentiment fell more than expected in November, data showed, as business mangers turned more pessimistic across almost all sectors of the economy, particularly in France and the Netherlands. The European Commission’s monthly survey showed the sentiment index at 93.7 against 94.8 in October, falling to levels last seen in late 2009. Economists polled [...]
FTSE down as storm clouds surround Osborne November 29, 2011 The FTSE opened down as stuttering UK growth cast a shadow over chancellor George Osborne’s Autumn statement on the economy to be delivered later today. Grim forecasts on growth from the OECD yesterday painted a bleak picture as the UK struggles to get its economic recovery into gear. The government has already indicated that billions [...]
S&P may cut France’s Triple-A outlook ‘within 10 days’ November 29, 2011 Credit rating agency Standard & Poor’s could change its outlook on France’s triple-A credit rating to negative within the next 10 days, a French newspaper reported. This is the latest signal that France’s top-tier status is at risk. An S&P spokesperson in Paris said the agency did not comment on rumours. A spokesman in Melbourne [...]
Gatwick Airport profits rise fuelled by passenger number lift November 29, 2011 London’s Gatwick Airport reported a 43 per cent rise in first-half profit, helped by strong growth in passenger traffic, which it expects to continue in final six months of the year. Gatwick airport, owned by US investment fund Global Infrastructure Partners (GIP), on Tuesday said its operating profit rose to £118.6m in the six months [...]
Findel losses widen November 29, 2011 Findel’s adjusted pretax loss widened for the first half, but the British home shopping and sports-kit retailer said its largest unit was on track for a very strong Christmas with current trading ahead of last year. For the six months to 30 September, Findel reported a pretax loss before exceptional items and terminated operations of [...]
IG forecasts 23pc revenue lift November 29, 2011 Spread-betting company IG Group said first-half revenue should rise 23 per cent, with trading volumes lifted by market volatility. “Following on from a strong first quarter, the group has continued to experience high levels of client activity during the second quarter of its financial year,” IG said in a statement. The company expected first-half revenues [...]
House prices rise for third month November 29, 2011 House prices edged up in November, beating expectations and despite a weak economy, but activity remains subdued and prices are more likely to dip in the next 12 months, mortgage lender Nationwide said. House prices rose 0.4 per cent from October on a seasonally adjusted basis, their third straight monthly increase, a Nationwide survey showed. [...]
As consistent off-field as on, Speed’s death stunned us all November 28, 2011 ONE topic monopolised the conversation when I met my former Rangers team-mate Richard Gough for lunch today, and that was the utter disbelief throughout the football world at the tragic death of Gary Speed. So much has been said already but it bears repeating what a fine example he was as a player, manager and [...]
