Unite warns of yet more BA walkouts June 9, 2010 UNITE, the union representing striking British Airways (BA) cabin crew, is preparing to launch a fresh strike ballot that could affect travel in July. The union warned yesterday that preparations for a new ballot were at an advanced stage and would be launched if no agreement with BA is reached. A new ballot is likely [...]
London rises on comments by Fed chairman Bernanke June 9, 2010 BRITAIN’S top share index closed higher yesterday, lifted by gains in miners and banks, as investor appetite for risk was boosted by positive comments on the US economy from Federal Reserve Chairman Ben Bernanke. The FTSE 100 closed up 57.71 points, or 1.2 per cent, at 5,085.86, after a choppy session which saw the index [...]
BT braces itself for staff action as impasse with its workers continues June 9, 2010 BT edged closer to its first strike action in more than 20 years yesterday as the?impasse between the telecoms giant and its workers dragged on. Members of the Communication Workers’ Union (CWU) have rejected two BT pay offers and have vowed to walk out if the firm does not meet their demands. Talks between the [...]
WHAT WILL HAPPEN IF THERE IS A BT STRIKE? June 9, 2010 Q. HOW OFTEN DO BT WORKERS GO ON STRIKE? A. Not very often. BT workers have not voted for strike action in more than 23 years – before the company was privatised in 1984. Q. WHO EXACTLY MAY BE GOING ON STRIKE? A. Members of the Communication Workers’ Union have voted in favour of possible [...]
Agbank gears up for world’s largest IPO June 9, 2010 THE Agricultural Bank of China (Agbank) has been given the go-ahead by Chinese regulators for what could be the world’s largest share flotation. Agbank is planning to sell a stake of 14 per cent in a dual listing that will see its shares join both the Shanghai and Hong Kong stock exchanges. The listing is [...]
Wall St slides after BP fall triggers fear June 9, 2010 US stocks fell yesterday in another late-day roller-coaster ride, dragged lower by BP and other energy shares as the US probe of the oil spill in the Gulf of Mexico deepened. The late retreat stocks triggered a bid for safe-haven assets, which pushed US government bonds into positive territory, while the euro edged higher boosted [...]
Hitachi reassures on UK trains June 9, 2010 HITACHI, Japan’s biggest electronics maker, said yesterday it expected to keep train orders from the UK government worth £7.6bn despite admitting modifications to the agreement were likely. A consortium led by Hitachi was chosen as a preferred bidder for the deal last year, but its shares have suffered in recent weeks due to speculation the [...]
Honda rocked by its third China strike in four weeks June 9, 2010 A THIRD strike in four weeks hit Honda’s Chinese suppliers yesterday, fuelling concerns that unrest among workers in the world’s manufacturing hub is spreading. Japan’s second largest automaker said a strike and production stoppage had begun yesterday at a factory in Guangdong province that supplies locks to all four Honda factories in China. However, progress [...]
BEST OF THE BROKERS June 9, 2010 NOVARTIS Citigroup gives Novartis a “buy” rating but warns that the commercial opportunity for drug Gilenia could be restricted by FDA safety concerns. Citi said its forecasts for sales of $780m by 2014 do not seem conservative and the appeal of the stock is the above-average earnings per share growth and low valuation. SABMILLER JP [...]
AIM-listed Western?Coal pays £54.4m for Energybuild to invest in Welsh site June 9, 2010 WESTERN COAL, the AIM-listed company with interests in Canada and the US, has bought Energybuild, the owner of the Aberpergwm colliery in Wales, for £54.4m. Western Coal already owns 55 per cent of its smaller AIM sibling, and will take the remainder through a scheme of arrangement which will see Energybuild shareholders receive 0.0833 shares [...]
