Investor wrath moves to IAG and Heritage June 17, 2012 THE UK’s shareholder spring could this week give way to a sizzling shareholder summer, as newly emboldened investors keep up the pressure on company boards. The biggest potential for fireworks this week comes on Thursday when the board of struggling Heritage Oil faces investors, disappointed at the two-thirds reduction in the company’s value over the [...]
LONDON 2012 IMAGE OF THE WEEK June 14, 2012 BRITISH Airways has unveiled a giant image of Jessica Ennis, the heptathlete, on the Heathrow flightpath. It will welcome visitors to Britain for the next five weeks. Between now and the start of the Olympics, City A.M. is publishing its Olympic Image of the Week. If you have a shot you think our readers will [...]
Upgrade your next adventure June 10, 2012 FROM the cool and cutting-edge design scene in Copenhagen to the hypnotic charm of Cairo’s bustling markets; if you fancy exploring a new city, country or continent, now is the time to get that great escape on track. A world of adventure awaits, but you could benefit from a host of added extras by taking [...]
Airline traffic growth is knocked off course by Eurozone worries June 7, 2012 IAG, the parent firm of British Airways and Iberia, has been hit by Spain’s economic woes in the last month, undermining the strength in its long-haul London routes. IAG said yesterday that its traffic, measured in revenue passenger kilometres, rose 6.6 per cent last month versus May 2011, while passenger load factor – a measure [...]
£140m deal for Makro UK will boost Booker May 30, 2012 FOOD wholesaler Booker aims to turn around the loss-making cash and carry firm Makro UK after taking it off the hands of German retailer Metro in a £140m deal. It will hand Metro £15.8m and a 9.99 per cent stake in Booker as the two firms agree to work together on improving their supply chains [...]
BEST of the BROKERS May 29, 2012 JOHNSON MATTHEY Credit Suisse rates the chemicals company “neutral” and has raised its target price by 50p to £24 to reflect its increased earnings per share forecasts for 2013-15. The broker now expects to see 19 per cent year-on-year growth in profit before tax. However, the broker prefers Belgian rival Umicore as its long-term materials [...]
IAG stocks nosedive as major Spanish investor looks to sell May 28, 2012 SHARES in British Airways parent company International Airlines Group nosedived 2.7 per cent yesterday on news its largest shareholder Bankia would need to dispose of assets to raise cash. The troubled Spanish bank has a 12 per cent stake in IAG following the bailout of Caja Madrid, which was a major stakeholder in Iberia before [...]
Stricken Bankia was urged to raise more cash May 27, 2012 SHARES in bailed-out Spanish lender Bankia are expected to plunge today as new questions emerge about warnings it received in the run-up to its share issue last year. The bank, rescued over the weekend with €23.5bn (£18.78bn) from the Spanish government, was told last year it needed more cash when it raised €3.1bn in July, [...]
OLYMPIC MEDIA BUZZ LONDON 2012 PARTNERS May 27, 2012 IN ASSOCIATION with Repskan.com, City A.M. is measuring the relative Olympic media buzz around the London 2012 Olympic and Paralympic Games partners, week by week. The leaderboard, right, reflects their ranking over the past week, in this case from Wednesday 17 May to Wednesday 24 May. As the Olympic Flame took flight on board the [...]
Tokyo is vast, fast and very interesting May 27, 2012 IT was about 7AM and the sun from my windows was beginning to wake me up. With my room on the 35th floor of a tower in the business district of Tokyo, the view of the endless city was so intense that drawing my curtains – even while I slept – seemed a waste. I [...]