Virgin mulls legal action over Heathrow disruption January 10, 2011 Virgin Atlantic may take legal action against airport operator BAA over the part closure of London’s Heathrow airport last month and will withhold fees until a probe into the disruption is complete. “We’re exploring our legal options but will continue talking to BAA and want the inquiry into what happened last month to be both [...]
Rolls-Royce is boosted by BA engine order January 6, 2011 ROLLS-ROYCE enjoyed a boost to its shares yesterday after signing a £3.2bn contract with British Airways for its Trent 900 and Trent 1000 engines. Confirmation of the deal, which was first mooted in 2007, will allow Rolls-Royce to book the orders on its balance sheet. Rolls-Royce chief executive Sir John Rose said: “We are pleased [...]
US uncertainty takes toll on FTSE despite blue chip gains January 6, 2011 BRITAIN’S top share index was pushed down to close lower yesterday, after uncertainty on the outlook for the US economy from weak retail sales and jobs data dented commodity prices and hit mining and energy stocks. Gains in retailer Marks & Spencer, British Airways and technology firm ARM Holdings ensured losses were relatively muted, however. [...]
Companies join tourism campaign January 5, 2011 TRAVEL firms British Airways and P&O have stepped in to support a government drive to boost tourism. The companies are part of a £100m fund aimed at boosting the number of visitors to the UK and tourism jobs over the next four years. Representatives from the two firms, as well as ferry operator DFDS, hotel [...]
BEST OF THE BROKERS January 5, 2011 OCADO UBS has downgraded the online grocer to “neutral” from “buy” with an increased target price of 197p, following share price gains and an improvement in valuations among Ocado’s peers such as Amazon and Asos. It adds that the trading statement due on 10 January will shed light on the firm’s progress since floating. BETFAIR [...]
Airline should continue its expansion January 4, 2011 EASYJET’S decision to convert options on 15 aircraft is good news for the company. Passenger numbers are still growing, up 8.2 per cent in November, while budget airlines are stealing market share from full-service carriers, helped by a cabin crew dispute at British Airways. But the 15 orders represent less than a fifth (17 per [...]
FTSE hits 31-month high on first close of 2011 January 4, 2011 LONDON saw a storming start to 2011 as the FTSE moved above the 6,000 level in the year’s first trading session to close at a 31-month high. The FTSE 100 moved up 1.9 per cent or 113.93 points to close at 6,013.87, its highest level since June 2008, buoyed by rises on US and European [...]
Banks give FTSE a boost as pre-Christmas rally continues December 22, 2010 BRITAIN’S leading share index pushed higher yesterday, supported by gains from banks as reports China is ready to buy Portuguese bonds eased European debt concerns. At the close, the FTSE 100 was up 31.69 points, or 0.5 per cent, at 5,983.49, edging ever closer towards the 6,000 level last seen in June 2008. The blue [...]
The City is back but under new management December 21, 2010 BRITAIN’S financial landscape has been transformed since we last shone a light on the City’s most powerful figures two years ago. The City A.M./CityJet Power Hundred 2011 list ranks the most influential figures in UK finance as we head into the new year. It should be no surprise that it is very different from 2009. [...]
BA shares hit as Heathrow chaos drags on December 20, 2010 SHARES in British Airways plummeted yesterday thanks to the major disruption to its flights from Heathrow. The firm, which is Heathrow’s biggest operator, cancelled 70 of its 130 flights out of the airport yesterday, leaving thousands stranded. BA is currently losing up to £10m a day, according to analyst estimates – close to the losses [...]