More Dreamliners grounded on battery concerns January 17, 2013 Boeing’s 787 Dreamliner jets faced more problems today, as more airlines and regulators moved to ground the passenger jets while battery-related problems are investigated. Yesterday, the US Federal Aviation Administration temporarily grounded the aircraft, saying carriers would have to demonstrate the batteries were safe before the planes could resume flying. Airlines in Europe, Japan and [...]
Wall street is back January 16, 2013 THE TOP US investment banks defied gloomy market conditions to rack up big jumps in profits last year, fourth quarter results showed yesterday, as central bank support and a renewed focus on cost control breathed new life into the troubled sector. A boom in debt underwriting alongside strong fixed income, currency and commodities client execution [...]
High street in crisis January 16, 2013 BLOCKBUSTER, the DVD, video and games rental chain, yesterday collapsed into administration sending Britain’s high street into further turmoil. Deloitte, which has been hired as administrators, said Blockbuster would continue to trade as it seeks a buyer for all or parts of the business. However, it is inevitable that some of Blockbuster’s vast 528-store estate [...]
Two killed in tragic rush-hour Helicopter crash in Vauxhall January 16, 2013 A HELICOPTER crashed into a crane on top of one of Europe’s tallest residential blocks yesterday, killing two people as it burst into flames and spiralled down into rush-hour traffic in central London. The pilot was named as 50-year-old Captain Pete Barnes, a veteran aviator. Late last night the police confirmed the second victim was [...]
Dimon’s bonus slashed on London Whale losses January 16, 2013 JP MORGAN chief Jamie Dimon’s pay has been halved this year after the bank lost $6.2bn (£3.9bn) on bad derivatives positions built up by the so-called London Whale, the bank revealed yesterday. Last night the bank came to an out of court settlement with the Whale’s former boss Javier Martin-Artajo. The bank declined to comment, [...]
Internet is the new meteorite that extinguished the dinosaurs January 16, 2013 IN the grand scheme of things, the news that JP Morgan’s profits hit a record high, while Goldman Sachs massively smashed expectations, was the most significant business story of the week. Wall Street is back; the US financial system is in much better shape than Britain’s. At the same time, the fact that Jamie Dimon, [...]
BNY assets hit fresh record at $26.7 trillion January 16, 2013 CUSTODIAN bank BNY Mellon saw profits rise strongly in the final three months of 2012, but not by enough to outweigh the effects of weak market conditions which pulled down full year income, the bank revealed yesterday. Profits came in at $2.43bn (£1.52bn) for 2012, down 3.5 per cent on the year. Investment management and [...]
What the other papers say this morning January 16, 2013 FINANCIAL TIMES Apple rolls out China credit facility Apple is to allow Chinese consumers to buy its gadgets on credit – a move that could help boost sales in the world’s largest smartphone market by unit shipments, where it has lost share to cheaper brands. HP arms become focus of M&A talk Reports that Dell [...]
Tui Travel and German parent in merger talks January 16, 2013 TUI TRAVEL is in talks to merge with its German parent Tui AG, it announced yesterday, sending its shares up four per cent. However, analysts have raised concerns that the nil-premium merger will not be enough to entice Tui’s UK shareholders. FTSE 100-listed Tui Travel, the group behind holiday companies Thomson and First Choice, said [...]
Cruddas takes the reins at CMC Markets January 16, 2013 PETER Cruddas, the majority shareholder in CMC Markets, was last night said to have seized the chief executive’s reins at the spread betting group after a difference of opinion with Doug Richards, who has held the job for the past couple of years. Industry sources said Richards had relinquished the role of chief executive, although [...]
