BA leaves the LSE ahead of Iberia merger January 20, 2011 BRITISH AIRWAYS will complete its merger with Spanish carrier Iberia today, with the enlarged company listing in London and Madrid on Monday morning. The British Airways ticker retired from the London stock market yesterday after 24 years, with the stock price giving BA a final market cap of £3.46bn. Investors will receive one International Consolidated [...]
Nokia US deal falls through January 20, 2011 Nokia’s woes continued yesterday with the announcement that a deal to launch its X7 smartphone on US carrier AT&T has fallen through. The news is a blow for the Finnish firm, which is desperate to push its new range of high-end smartphones. It is understood Nokia lost confidence in the US firm, believing the phone [...]
City Airport wins battle for flights January 20, 2011 LONDON CITY Airport has won a High Court decision that will allow it to increase the number of flights it operates by up to 50 per cent. Local residents were fighting to overturn a 2008 decision by Newham Council to allow the expansion, citing noise and pollution levels in their bid to halt the new [...]
Kenmare axes JP Morgan January 20, 2011 MOZAMBIQUE-FOCUSED miner Kenmare Resources ditched JP Morgan Cazenove in favour of Royal Bank of Canada (RBC) as one of its joint brokers yesterday, as it attempts to ramp up the expansion of its titanium mines. Kenmare, which posted a 71 per cent year-on-year rise in titanium, ilmenite and zircon production yesterday, revealed the switch in [...]
Property experts say stamp duty hike will not hinder sales January 20, 2011 HIGH-END property buyers will not be put off by the looming rise in stamp duty, according to research seen by City A.M. Though the OECD warned yesterday that the tax places unfair barriers on the housing market for some, 52 per cent of property professionals surveyed by Investec thought the 25 per cent duty hike [...]
Plantation sale set to go ahead January 20, 2011 A GROUP of investors that bought bonds secured against Plantation Place on Fenchurch Street said today it wanted to press on with an open-market sale of the property, in spite of opposition to the plan from other investors which have pushed for an enforced sale following a loan default.
Flat profit for Invensys sees shares suffer January 20, 2011 BRITISH engineer Invensys said yesterday its operating profit in the last three months was unchanged from a year ago because its industrial automation margins were squeezed and the domestic appliance market weakened. In the full financial year ended March 2010 the company made an operating profit of £248m, a rise of two per cent on [...]
easyJet plunges after fuel hike January 20, 2011 BUDGET airline easyJet saw its shares plummet yesterday after it posted a disappointing quarterly update due to soaring fuel prices and lower revenue per seat. easyJet shares fell 16.2 per cent to 382p, after chief executive Carolyn McCall (pictured) warned that the higher market price of fuel will put pressure on margins again this year. [...]
Boparan races to ready offer for Northern Foods January 20, 2011 ADVISERS for Boparan have been working through the night to put together a bid for Northern Foods, although it was still uncertain yesterday whether the firm would make a formal bid before the Takeover Panel deadline of 5pm today. Boparan’s team has been trying to thrash out a deal with Northern Foods’ pension trustees, who [...]
ROLLS-ROYCE BOOSTED BY CATHAY PACIFIC January 20, 2011 ROLLS-ROYCE yesterday won a long-term maintenance contract to service the engines of several Cathay Pacific aircraft. The $250m (£157.6m) contract will see Rolls-Royce provide support services for the Trent 700 engines that power the airlines A330 fleet. Cathay Pacific is currently Rolls-Royce’s largest Trent 700 customer, operating 47 Airbus A330s with an additional seven deliveries [...]
