American Airlines raises $2.9bn to ride out storm September 17, 2009 AMERICAN AIRLINES’ (AA) parent company AMR has raised $2.9bn (£.bn) as it struggles to weather the financial storm. The fundraising, which comes as part of an arrangement with General Electric and Citigroup, is intended to help the carrier cope with a fall off in demand for air travel. The company said $1bn of the figure [...]
Unite plans a fundraising September 17, 2009 STUDENT housing provider Unite is set to raise £82m through a share placing, it said yesterday, to take advantage of a “compelling business opportunity” in London. It is offering 32.8bn shares, priced at 250p each and is raising the cash via a firm placing of £24.6m, and an open offer of £57.4m. The offer is [...]
FSAthrows its weight behind the bid to save hedgies from European crackdown September 17, 2009 CITY regulator the Financial Services Authority (FSA) yesterday gave its support to hedge funds and called on the European Union (EU) to rethink its plans for a crackdown on the industry. Managing director of the FSA’s risk division, Sally Dewar, said the EU must address weaknesses in the current rules in a “proportionate” way in [...]
Hedge fund failures slow as industry crisis eases September 17, 2009 THE RATE at which hedge funds are collapsing slowed in the second quarter of 2009, in a further sign the hedge fund industry is over the worst. The second quarter saw 292 funds enter liquidation, a 22 per cent fall on the 276 funds liquidated in the quarter before, according to data firm Hedge Fund [...]
Toluna reports growth in Europe September 17, 2009 Toluna, which provides online panels, communities and technology services to the market research industry, reported strong revenue and profit growth, and increased market share in all European territories in the six months ended June. Toluna, which won 95 new clients over the period, said in July it had acquired the business and assets of the [...]
Air watchdogs respond to critics September 17, 2009 US aviation regulators have responded to criticisms they had grown too “cosy” with airlines, by setting up an internal office to collect employee complaints. They have also said they will stop calling carriers “customers”. Policy makers in government have called for the changes. They also want an internal office that would collect employee complaints about [...]
Toyota plans spending spree September 17, 2009 Toyota, the world’s biggest carmaker, said yesterday it planned to spend a “larger than average” $1bn (£683m) on marketing in the US in the fourth quarter, as the economy begins to recover. It will spend heavily on advertising, incentives and dealer support, after the cash-for-clunkers scheme, where drivers traded in their old bangers for a [...]
Airbus ups long-term forecasts September 17, 2009 Airbus has increased its forecasts for long-term new plane demand but said the current industry crisis is likely to spark a spate of new order cancellations this winter. The EADS subsidiary said yesterday it saw global demand for 25,000 new aircraft across the industry in the twenty-year period between 2009 and 2029, up from the [...]
Temasek sees revival after markets rally September 17, 2009 SINGAPOREAN wealth fund Temasek said yesterday that it had recouped most of the losses on its portfolio due to rallying markets and was now in a position to do new deals. Chief executive Ho Ching said any dip in markets could be a buying opportunity for the $122bn (£74.2bn) investment firm, which is still open [...]
African Minerals in talks with ENRC over funding September 17, 2009 AFRICAN MINERALS, the London-listed miner, said yesterday it was in talks with several large Asian industrial firms, including Kazahk miner ENRC, over a possible takeover or funding for its Tonkolili iron ore mine. Shares in the group, led by chairman Frank Timis, hit a record high of 389.75p yesterday, valuing the group at $1.37bn (£830.7m). [...]
