British Airways helps boost IAG traffic by 3.2 per cent in October November 6, 2012 INTERNATIONAL Airlines Group yesterday posted a strong rise in October traffic, as a robust performance from British Airways made up for weakness at Spanish sister firm Iberia. Traffic, measured in revenue passenger kilometres, rose by 3.2 per cent versus October 2011, while passenger load factor – a measure of how well it fills its planes [...]
Land Securities to pay £95m for Manchester Printworks complex November 4, 2012 LAND SECURITIES is to acquire Manchester’s largest leisure complex the Printworks in a £95m deal. The FTSE-listed firm is today expected to announce it has struck a deal with owner Resolution Property, to buy the site, which includes an Imax cinema, a Virgin Active fitness club and night clubs Tiger Tiger and Entourage. Land Securities [...]
Frankenstorm October 29, 2012 First two day close of New York exchange due to weather since 1888 Millions left without power as storm surge threatens Manhattan Insurers estimate the total cost of the damage could reach $10bn HURRICANE SANDY last night hit the US’s North East coast, closing stock exchanges, grounding aeroplanes, flooding low-lying areas, and potentially landing insurers [...]
Virgin Atlantic eyes airline alliance October 26, 2012 Virgin Atlantic is close to joining an alliance with other airlines, marking a turning point after 30 years of fierce independence, according to founder Sir Richard Branson. The tycoon told reporters in India that “we may finally give up and become part of a bigger alliance”, with further details expected in the next three to [...]
Advisers Nokia’s bond issue October 23, 2012 YACINE AMOR BANK OF AMERICA MERRILL LYNCH YACINE Amor led the team on Nokia’s bond issue at Bank of America Merill Lynch (BofAML), guiding Europe’s second largest convertible bond deal of this year. Amor has 14 years of investment banking experience and is currently head of equity-linked origination for the EMEA region. Prior to joining BofAML [...]
Ryanair hopes to woo EU with compromise on Aer Lingus bid October 22, 2012 IRISH low-cost airline Ryanair has offered concessions to European Union antitrust regulators in a bid to secure regulatory clearance to acquire local rival Aer Lingus. Ryanair, whose most recent bid for Aer Lingus in June valued the firm at €694m (£566m), hopes to convince the European Commission that a takeover would not restrict competition on [...]
City Moves | Who’s switching Jobs October 10, 2012 Heartwood Kevin Rait has been appointed as intermediary client director at Heartwood Investment Management, the investment management services group. Rait has 12 years’ experience in working with financial intermediaries, and will help Heartwood to develop its distribution strategy to serve financial advisors. He arrives from Arbuthnot & Co, where he launched its discretionary fund management proposition [...]
Johnson Matthey boosts board October 4, 2012 Johnson Matthey has appointed Colin Matthews as a non-executive director with immediate effect. Matthews has been chief executive of BAA since 2008, and was previously group chief executive for Severn Trent. He has also worked for British Airways, Lattice Group and Hays Group. Johnson Matthey chairman Tim Stevenson said that Matthews had a “wealth of [...]
EasyJet, Ryanair and IAG are helped by post-Games boost October 3, 2012 EASYJET shares soared 3.5 per cent yesterday after it raised its profit forecasts thanks to a jump in post-Olympic traffic. The budget carrier’s chief executive Carolyn McCall said demand from London “increased towards the upper end of expectations” after the Games, helping to lift its pre-tax profits to between £310m and £320m for the year [...]
Popularity of defensive stocks sees FTSE rise but Spanish fears remain October 3, 2012 BRITAIN’S benchmark share index rose yesterday, driven by gains in “defensive” stocks seen as the most resilient to an economic downturn, although traders said concerns over Spain’s debt crisis could limit gains. The blue-chip FTSE 100 index closed up 0.3 per cent, or 16.36 points higher, at 5,825.81 points. Increases in heavyweight “defensive” stocks such [...]