CNBC Comment: Banks face an IT Wonga challenge September 9, 2013 The market may not be factoring in the cost of new technologies THERE is a shadow looming over the world’s retail banks, which many believe the market is not factoring in. For much of the past few years, the focus has been on the fallout from the higher-stakes poker games played before the financial crisis. [...]
Flybe loses finance boss as part of reshuffle under its new CEO August 5, 2013 EUROPE’S largest regional airline Flybe, which appointed a new chief executive last month, said yesterday its chief financial officer and three board members had resigned. The group said that Andrew Knuckey, who has been CFO since 2007, would leave the company after his successor is appointed and a suitable handover period is completed. Flybe appointed [...]
Etihad triples its net profits February 4, 2013 ETIHAD Airways yesterday said its net profit tripled in 2012 as its fast-expanding global network attracted more passengers. Etihad – which has stakes in Air Berlin and Virgin Australia and is close to taking a stake in India’s Jet Airways – earned a net profit of $42m (£26.6m) in 2012, compared with $14m in the [...]
What the other papers say this morning January 15, 2013 FINANCIAL TIMES Spain asks Germany to boost growth Mariano Rajoy has called on Germany and other creditor countries in the Eurozone to do more to stimulate growth, arguing that a switch to a more expansionary policy would boost economic recovery across the single currency area. “I think that in this moment, when there is a [...]
Air Berlin to sell planes to improve equity ratio August 15, 2012 Loss-making Air Berlin will sell eight of its planes in order to improve its equity ratio, which plummeted in the first half of the year to just 4 per cent. Air Berlin, which has not posted an annual operating profit since 2007, is trying to shrink its way back to profitability after growing rapidly and [...]
Aviation groups call for delay to EU carbon rules March 11, 2012 LEADING European aviation companies have warned that European Union plans to charge airlines for carbon pollution could jeopardise jobs and huge trade deals with China. The group of major airlines and plane makers – including Airbus, British Airways, Virgin Atlantic, Air France, Air Berlin and Iberia – said the EU emissions trading scheme (ETS) for [...]
Etihad posts its maiden profit February 9, 2012 ARABIAN airline Etihad yesterday posted its first net annual profit, crediting new partnerships and strong cost control for the $14m gain on revenues up 36 per cent to $4.1bn. The eight-year-old firm said passenger numbers rose 17 per cent to 8.3m during the year, and it said further growth was expected from its recent deal [...]
A great growth market for London January 26, 2012 IT’S Friday, so for once let me recount a positive, upbeat success story. Increasingly, we are paying our way in the world by attracting visitors from overseas, who spend lots and sustain a growing number of jobs. London is third in the Euromonitor overseas visitor rankings, behind Hong Kong and Singapore. We are easily the [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 19, 2011 FINACIAL TIMES NETWORK RAIL WARNED OVER BONUSES Senior management at Network Rail should forget about bonuses next year, Justine Greening, the transport secretary, said on yesterday. She was speaking after the Office of Rail Regulation (ORR) found that the owner of Britain’s railway infrastructure had failed to meet its punctuality targets and was in breach [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 15, 2011 FINANCIAL TIMES CVC STRUGGLES WITH TERRIBLE RESULTS IN ASIA When CVC raised a $4.12bn Asian buy-out fund in 2008, Marc St John, its head of investor relations, referred to the private equity group’s record in the region when he said investors “like what they see”. A few years and a financial crisis later, investors are [...]