Walker Greenbank profit in China June 22, 2011 Upmarket wallpaper seller Walker Greenbank has seen an eight per cent rise in underlying revenues in the first four months of the year. The luxury furnishings group, whose brands include Sanderson and Morris & Co, reported a hike of 13 per cent in international sales, with the highest demand in Russia and China.
Rolls settles Qantas spat June 22, 2011 QANTAS has settled with engine-maker Rolls-Royce over the explosion of one of its A3830 engines mid-flight last year, which forced the plane to make an emergency landing. Rolls will pay A$95m (£62m) in damages, the Australian airline said yesterday while also calling off all legal action. The compensation boosted Qantas’ pre-tax profit for the year [...]
Spain’s Bankia puts back publication of prospectus June 22, 2011 SPAIN’S Bankia has put back the publication of the prospectus for its up to €4bn (£3.6bn) initial public offering (IPO). The bank was forced to put back the release after the Spanish stock market regulator, the Comision Nacional del Mercado de Valores (CNMV), demanded changes to the draft version of the document. Bankia, which is [...]
Bridgewater nears launch of its $10bn hedge fund June 22, 2011 BRIDGEWATER Associates, the world’s biggest hedge fund firm, is close to launching a $10bn (£6.2bn) fund, in the latest indication that the sector is recovering from the financial crisis. The fund, which is only available to current investors in Bridgewater, started trading in November last year with $2.4bn in assets. Investors have committed a further [...]
Man raises first fund mixed with GLG strategies June 22, 2011 MAN Group, the world’s largest listed hedge fund manager, has raised more than €100m (£89m) in commitments for its first UCITS fund to combine investment strategies run by Man and GLG Partners, the hedge fund firm it bought last year. The open-ended fund gives retail and institutional investors access to a portfolio of 10 to [...]
Bombardier pitches Boeing clients June 22, 2011 Boeing’s indecision about how to update its 737 narrow-body jet gives Bombardier a wider opening to pitch its competing CSeries jetliner to potential customers, the chief operating officer of Bombardier’s aerospace unit said yesterday. Guy Hachey said Bombardier had already made a pitch to one of Boeing’s top US customers, Southwest Airlines , and added [...]
Republic buys £7bn of A320neo June 22, 2011 Republic Airways Holdings signed a letter of intent to buy 80 of planemaker Airbus’ revamped A320neo family of aircraft worth $7bn at list prices. The commitment includes 40 A320neo and 40 A319neo planes, Republic said yesterday.
Industry in 2m tonne biofuel pact June 22, 2011 European airlines, biofuel producers and the EC signed up yesterday to produce 2m tonnes of biofuel for aviation by 2020 even as debate rages over how green such fuels are. Airlines are keen to use biofuels as a way of cutting down on pollution from jet fuel but the use of food crops in their [...]
AIRBUS BULLISH ON PROSPECT OF A380 ORDERS June 22, 2011 AIRBUS will announce new orders for its $375m A380 superjumbo at the Paris Air Show, Louis Gallois, chief executive of parent company EADS, told a French radio station yesterday. The planemaker suffered embarrassment earlier this week when the A380 it had planned to fly at the show was damaged, but was replaced at the air [...]
Property CEOs pocket payout worth millions June 22, 2011 TWO of London’s blue-chip property companies, Land Securities and British Land, paid out multi-million pound pay deals to their chief executives last year, their annual reports revealed yesterday. Francis Salway, the chief executive of Land Securities, was paid £1.2m in salary, bonus and benefits in the year to March compared to £1m the previous year, [...]
