Spectrum sale gets go-ahead June 20, 2011 Ofcom yesterday gave the go-ahead for mobile phone operators to trade the rights to the radio spectrum they hold. Ofcom says the new regulations are aimed at giving operators added flexibility, which could help them to meet the increasing demands for mobile internet. The changes have ben mooted for years but are understood to have [...]
Euromoney to buy Ned Davis June 20, 2011 Euromoney, the financial information unit of media group Daily Mail & General Trust, has agreed to buy American company Ned Davis Research Group to strengthen and expand its product range. Euromoney said it expected to pay $112m (£70m) to acquire an initial 87 per cent holding in Ned Davis, which provides independent financial research to [...]
Charter shares tank after profit warning June 20, 2011 SHARES in Charter International, the tool and equipment maker, fell by as much as 28 per cent yesterday after it issued a profit warning. Charter said full-year results would likely fall short of expectations, hurt by weakness at its core welding tools unit ESAB. The firm said rising input costs combined with more competition hurt [...]
Investors flock to cheap Russian IPO June 20, 2011 RUSSIAN port operator Global Ports has received enough orders for 75 per cent of the shares it plans to offer in its up to $572m (£355m) London listing. The container terminal operator, a unit of Russian freight group N-Trans, began a roadshow to drum up interest in the company amongst investors just three days ago. [...]
Hedgies fail to find growth in May trading June 20, 2011 HEDGE funds failed to post positive returns during May, as poor US economic data and fears over Chinese growth hit the performance of fund managers. Managed futures and global macro funds saw the steepest falls in growth in May as short US dollar and long commodity positions weighed heavily on performance, a monthly survey by [...]
Rolls-Royce signs up £1.4bn engine deal June 20, 2011 ROLLS-ROYCE has inked a $2.2bn (£1.36bn) deal with Brazil’s TAM airlines to provide engines for its Airbus A350 airplanes. The aerospace and engines giant said in a statement yesterday that it will provide the Brazilian domestic airline with its fuel-efficient Trent XWB engines for a fleet of 27 aircraft ordered from Airbus. The contract also [...]
Boeing admits end of duopoly in sight June 20, 2011 BOEING has admitted that its dominance over the market for large commercial aircraft it has shared with its rival Airbus will soon come to an end. Speaking at the Paris Air Show yesterday, Jim Albaugh, head of Boeing’s civil jet division said: “the days of the duopoly with Airbus are over” as emerging global competition [...]
QATAR AIRWAYS IN $1.7BN 777 BUY-UP June 20, 2011 Qatar Airways announced yesterday a $1.7bn (£1.05bn) order for six Boeing 777-300ER aircraft. The airline at present operates 25 Boeing aircraft. The order, announced at the Paris Air Show, comes a day after European planemaker Airbus revealed plans to extend the range of the A350-XWB – a rival to the Boeing 777 – of which [...]
Boeing gets mystery bids June 20, 2011 Boeing announced orders for 17 of its 747-8 Intercontinental airplanes. The orders, placed by two undisclosed customers, are valued at a combined $5.4bn (£3.3bn). One customer has committed to 15 of the new passenger version of the 747-8 while the other placed an order for two.
SAS orders 30 Airbus neos June 20, 2011 Airbus won orders for 30 narrow-body A320neo planes from Scandinavian airline SAS and 60 from the commercial aircraft leasing and financing arm of General Electric, totalling $7.7bn (£4.75bn) at list prices. Air Lease Corp also signed a memorandum of understanding for 36 A320 neo-family planes.
