FTSE recovers from Euro rout April 24, 2012 BRITAIN’S blue-chip shares rose yesterday, rebounding from a Europe-wide rout the previous day and helped by better-than-expected US housing data which boosted global risk appetite. The FTSE 100 index rose in tandem with US stocks following the release of US new home sales data, which dropped to four-month lows but came in above analysts’ expectations. [...]
FTSE slumps as fresh fears over the Eurozone return to global markets April 23, 2012 BRITAIN’S top shares surrendered almost all of last week’s gains yesterday, led lower by commodity stocks and banks, as political uncertainty and disappointing economic data revived investor concerns over the Eurozone debt situation. The mood was darkened by data showing the Eurozone’s business slump deepened at a far faster pace than expected in April, suggesting [...]
Beaches and barristers in the sunny Bahamas April 22, 2012 An architectural oddity in the middle of Nassau’s Parliament Square screams out for your attention. The octagonal library and city museum is painted pale pink (like all the important buildings in The Bahamas’ capital). I climb up creaky steps to the first floor and admire paintings of Nassau dashed off by ships’ artists in the [...]
OFT cuts British Airways fine for fuel surcharge pact with Virgin April 19, 2012 THE OFFICE of Fair Trading has halved a fine imposed on British Airways for colluding with rival airline Virgin Atlantic over fuel surcharges. The consumer and competition watchdog said it had dropped the fine to £58.5m down from a record £121.5m thanks to BA’s help during the investigation and changes to competition law, following an [...]
BA fined £58m over price fixing case April 19, 2012 Britain’s Office of Fair Trading said it had fined British Airways £58.5m for price fixing in relation to fuel surcharges, imposing a penalty that is less than half that agreed in August 2007. The case against British Airways, which colluded with rival Virgin Atlantic in pricing surcharges on long-haul flights, has been a long and [...]
Stocks held up by data from across the pond plus resilient corporates April 16, 2012 BRITAIN’S leading share index ended higher yesterday after positive US retail sales data and narrow gains for defensive shares more than offset another slide in banking shares on concerns about Spain. Pharmaceuticals and utilities – sectors that are less exposed to swings in the economic cycle – drove the index higher, with GlaxoSmithKline providing the [...]
Sir Richard set to appeal BMI takeover deal April 15, 2012 VIRGIN Atlantic president Sir Richard Branson yesterday vowed to appeal to Europe over British Airways owner IAG’s takeover of smaller carrier BMI. The £172m deal was given clearance by the European Commission at the end of March, but Sir Richard has criticised the regulators for their swift decision, in the latest attack on his rival’s [...]
Do not hang up, your call is very important to us April 15, 2012 GETTING to the airport only to find that your flight is cancelled is everyone’s worst nightmare. But when we become really hopping mad is trying to get through to the airline’s call centre for a refund. It shouldn’t come as a surprise then that a new league table of the longest call centre queues names [...]
BA looks to cut 1,200 jobs as it integrates BMI April 12, 2012 BRITISH Airways said yesterday 1,200 jobs were under threat as a result of plans to integrate the recently-purchased airline BMI into its Heathrow operations. The Unite union said it was “very saddened at the scale of the job losses being proposed” as BA soaks up 42 of BMI’s lucrative landing slots at Britain’s busiest airport. [...]
BA to cut jobs as it outsources Gatwick work April 11, 2012 BRITISH Airways is planning to shake up its operations at Gatwick, in a move that unions said could cost hundreds of jobs. The flagship carrier said it has begun talks with unions over job cuts as it outsources 400 baggage and coaching roles to a third party supplier and scales down its customer services team. [...]