BA crew deny Easter strike January 20, 2010 British Airways cabin crew yesterday ruled out striking over Easter if a union ballot on industrial action sanctions a walkout, as expected. The Unite union is locked in a dispute with the airline’s management over crew levels and working conditions. It said it was “never the intention of Unite and its BA cabin crew membership [...]
IMF head says Greek woes will not hit eurozone January 20, 2010 INTERNATIONAL Monetary Fund (IMF) managing director Dominique Strauss-Kahn said yesterday the eurozone would get through the turmoil caused by Greece’s escalating debt crisis without breaking up. He told Bloomberg in Hong Kong the Greek deficit was a “serious problem”, and added: “But I don’t think that would lead to the fragmentation of the eurozone.” Despite [...]
DUBAI TO ALL THAT January 20, 2010 State-owned investment company Dubai World has replaced the chief executive of its Istithmar World with the unit’s chief investment officer, as it focuses on managing its investments rather than new acquisitions. David Jackson (pictured), who led Istithmar’s aggressive overseas expansion strategy, has been replaced by Andy Watson.
CITY VIEWS: WHAT DO YOU THINK THE OUTLOOK IS FOR THE CITY JOBS MARKET? January 20, 2010 STEVE WOODS | TELEREAL TRILLIUM “It depends on what sector you’re in. I’m in IT but being made redundant next week, and for me personally there’s not much out there at the moment. It’s definitely a hirer’s market, and a crowded one at that.” BENNY ZACHARIAH | WEST LB “There are definitely head hunters in [...]
Soco raises £102m to fund drilling in Congo and Vietnam January 20, 2010 OIL explorer Soco International raised £102m in a share sale yesterday, to allow it to repay holders of a convertible bond due in May, while advancing a busy drilling programme. The shares were placed at a two per cent discount to the market price at 1,410p and, according to those close to the placing, they [...]
PayPal boosts profit at eBay January 20, 2010 EBAY outperformed expectations in its final quarter, with net profits soaring to $1.4bn, or $1.02 a share. More than $20bn (£12.3bn) was processed in the quarter – the first time the mark has been surpassed. The auction site smashed the previous year profits of $367m, or 29 cents per share. On an adjusted basis, profit [...]
JESSOPS IN JEOPARDY January 20, 2010 CAMERA retailer Jessops had its shares suspended yesterday, as shareholders prepared to vote on winding up the firm today as part of a restructuring. Jessops’ 213 shops, which were sold to private firm Snap Equity in September, will continue to trade, but its old parent, Jessops plc, is now set to be wound up. If [...]
NEWS | IN BRIEF January 20, 2010 Thai property scrap escalates A fight to control Thailand property assets co-owned by Lehman Brothers has spiralled, with HSBC and Aberdeen Asset Management joining the fray. Thai police have issued warrants against the pair in relation to their roles administering collateral or assets on behalf of Lehman. The move will further hamper the complex task [...]
Comet festive sales are a worry for owner Kesa January 20, 2010 COMET dragged down sales at parent company Kesa as the electrical store failed to beat off its rivals over Christmas. Like-for-like sales dropped by 3.9 per cent at Comet between 1 November and 8 January, the company revealed yesterday. However, Kesa’s overall sales fall was limited to 0.3 per cent after growth in its international [...]
William Hill buoyed by earnings upgrade thanks to revenue surge January 20, 2010 High Street bookmaker William Hill looked attractive to punters yesterday, as shares closed up more than three per cent following a bullish trading statement. Earnings for the year are expected to be at the top end of predictions, with gross earnings of around £250m due to a four per cent increase in revenue. The company [...]
