Airbus aiming to gain altitude despite its A380 engine woes November 16, 2010 AIRBUS is targeting higher revenue and deliveries despite the chaos caused by the break-up of a Rolls-Royce engine on one of its super-jumbos, it emerged yesterday. The Toulouse-based aircraft giant expects revenue to rise more than five per cent in the next five years, according to finance chief Hans Peter Ring. Airbus, part of aerospace [...]
Wednesday facing High Court D-Day November 16, 2010 RESTRUCTURING group Zolfo Cooper is standing by to act as administrator to Sheffield Wednesday today if a High Court case verdict goes against the club. Wednesday face a £600,000 demand from the tax authorities and arrive in court after the board turned down an offer from Leicester City chairman Milan Mandaric. According to sources close [...]
Fans hail Glazers’ PIK pay-off but big questions remain November 16, 2010 MANCHESTER UNITED supporters have hailed the Glazer family’s decision to pay off £220m of costly payment-in-kind loans (PIK), removing a potential drain on the indebted club’s resources, as a victory for fans. But they have urged the Glazers to show greater transparency in their running of the Premier League outfit. United said yesterday no money [...]
China secures 100-aircraft order for its first commercial jetliner November 16, 2010 China yesterday announced a 100-plane order for its first commercial jetliner, a first step in its ambitions to challenge Airbus and Boeing for a slice of a global market worth $1.7 trillion. State-owned COMAC, or Commercial Aircraft Corp of China, unveiled the orders at the country’s largest air show yesterday, ending a dearth of orders [...]
New non-exec for Lloyds November 16, 2010 LLOYDS has added a new non-executive director to its board, with current-Victrex chair Anita Frew joining from 1 December. Victrex is a FTSE 200 manufacturing firm, but Frew also has experience in investment and banking from her time at the Royal Bank of Scotland and through her non-executive position at Aberdeen Asset Management. Her appointment [...]
Smiths confident as margin focus delivers November 16, 2010 UK TECHNOLOGY firm Smiths Group said cost cuts and a focus on margins should help it deliver a good performance in the first half, as delays on government orders crimped sales for airport security devices. Technology group Smiths, whose products range from bomb detectors to medical devices and fuel hoses, said it had seen underlying [...]
Trident staff in pay revolt November 16, 2010 THE UNION representing engineers and scientists working on nuclear warheads for Britain’s Trident missiles said they are to take industrial action in protest over the latest pay offer from their employer, the Atomic Weapons Establishment (AWE). Prospect union spokesman Graham Stewart said its 1,300 members, who represent the majority of specialist staff at AWE’s Aldermaston [...]
More jobs go at Rok, says PwC November 16, 2010 THE ADMINISTRATORS for housing repair firm Rok made a further 1,800 people redundant yesterday, after it failed to find an interested buyer for large parts of the business. A total of 2,600 staff, around three quarters of Rok’s total staff, have now lost their jobs, with administrator PwC still in last-ditch talks with rivals to [...]
Vallar in a $3bn Asian coal deal November 16, 2010 INDONESIA’S powerful Bakrie family has joined forces with the Rothschild banking dynasty to cement its dominance of Indonesia’s booming coal exports sector through a London-listed company. The deal combines stakes in three companies. Bakrie Group, run by the family of politician and tycoon Aburizal Bakrie, is joining miner Berau Coal with prize asset PT Bumi [...]
New rules for loan sellers November 16, 2010 MORTGAGE sellers could face tough new rules under proposals by the Financial Services Authority (FSA). The watchdog is calling for sellers to hold professional qualifications before they can approach potential home buyers. The FSA has conducted a major review of the market as it seeks to protect buyers from being sold home loans they cannot [...]
