Airbus owner hit by drop in plane orders July 28, 2009 AIRBUS parent company EADS yesterday said its first half profits had tumbled as orders for its aircraft slumped. The firm said profits in the period were down 23 per cent to €888m (£766m) and warned it might have to pay penalties because of delays to its A400M military aircraft. The company said its net cash [...]
CITY VIEWS: DO YOU THINK DEMAND FOR LUXURY GOODS WILL DECLINE IN THE CURRENT ECONOMIC DOWNTURN? July 28, 2009 DAN BUNTING BANKER“I think that people who can afford them in the first place will continue to buy luxury items. On the other hand, maybe those who are sensible will save. I suppose it is also wage dependent, just as many expenditures are.” MEL DIXON AZTEC“No, I don’t think so. The market can’t withstand luxuries [...]
LVMH loses fizz as wine sales drop July 28, 2009 LVMH, the biggest player in the luxury goods market, yesterday reported a 23 per cent slump in first half profits as the downturn hit discretionary spending. The group, which owns the Dom Perignon brand, was dragged down by its wines and spirits division which suffered a record 41 per cent drop in profits as champagne [...]
Socit Gnrale rogue trader insists bank bosses knew what he was doing July 28, 2009 THE ROGUE trader who accumulated trading positions that caused a €4.9bn (£4.2bn) loss for French bank Société Générale (SocGen) yesterday told a French court his bosses at the bank were aware of his activities. Jerome Kerviel’s lawyers said he never tried to hide the trades from superiors. They added that 300 of his colleagues at [...]
BBVA profits jump due to rise in interest on loans July 28, 2009 SPANISH bank BBVA reported a 35 per cent jump in second-quarter profits yesterday, thanks to increased income from loans. Net profit for the three months to the end of June was €1.56bn (£1.35bn), up from €1.16bn in the second quarter of 2008 and ahead of an analysts’ consensus of €1.3bn. The bank was boosted by [...]
Slowly but surely, signs that the law is opening up July 28, 2009 IQUALIFIED – against all odds – to become a lawyer,” recalled Constance Briscoe, barrister, part-time judge and author of the bestselling misery memoir Ugly. She was talking on Radio 4’s PM programme last week following the report by an all-party panel chaired by former cabinet minister Alan Milburn on social mobility and the professions. “I’ve [...]
WOMEN LAWYERS IN THE CITY July 28, 2009 CLARE MCCONNELLPARTNER, STEPHENSON HARWOOD AND CHAIR, ASSOC OF WOMEN SOLICITORS SURVEYS continue to show that the progress of women lawyers in the profession, and into partnership, has stalled. Even in the 21st century it is still true that women shoulder the majority of the responsibility for childcare or care of other dependants even when they [...]
Gunners cash in with 16m Toure switch July 28, 2009 ARSENAL defender Kolo Toure was last night on the brink of completing his £16m move to Manchester City after jetting back from the Gunners’ Austrian training camp. Toure is thought to have flown back to England to undergo a medical, after cash-strapped Arsenal accepted a bid from mega-rich City, their rivals for a top-four place. [...]
Ferrari refuse to rule out Schumacher comeback July 28, 2009 FERRARI last night left the door open for seven-time world champion Michael Schumacher to make a sensational return to F1 as a replacement for Felipe Massa. The Italian team responded to suggestions the 40-year-old could step in for Massa on a short-term basis following a day of mixed messages from Schumacher’s camp. Brazilian Massa, who [...]
Flintoff looks to science to fulfil dream July 28, 2009 ALL-ROUNDER Andrew Flintoff believes he is ready to resume battle with the Australians at Edgbaston tomorrow – thanks to revolutionary treatment on his injured knee. Flintoff, 31, has been sleeping with a special compression machine on his troublesome joint to help ease the discomfort he experienced after the historic second Test victory at Lord’s. The [...]
