Retailers feel chill winds of arctic conditions December 20, 2010 FOR retailers, it never rains – it snows and snows and snows. The industry had been hoping that the latest blast of freezing weather would hold off until after Christmas. Instead, the snow that blanketed London in the small hours of Saturday morning thwarted one of the biggest days on the retail calendar. Persistent sub-zero [...]
Utility firms lift FTSE 100 as cold snap drives power sales December 20, 2010 UTILITY stocks helped push Britain’s top shares higher yesterday, as the UK’s near-Arctic conditions boosted demand for energy, but British Airways toiled as the big freeze disrupted airline services. The FTSE 100 closed up 19.86 points, or 0.3 per cent, at 5,891.61. Meanwhile, the FTSE 250 closed up 6.33 points at 11,433.11. It touched a [...]
Virgin Atlantic confirms a number of approaches December 15, 2010 VIRGIN ATLANTIC confirmed yesterday that it has received “a number of lines of enquiry” from other airlines about a possible tie-up or merger deal. Sir Richard Branson’s airline said it has appointed Deutsche Bank to help handle the approaches, which it said are likely to run on for a number of months. Rivals including US-based [...]
Euro worries push banks down, leave FTSE flat December 15, 2010 THE FTSE tipped up to 5897 briefly this afternoon but sank again to close flat at 5882, dogged by Eurozone worries and poor performances by the banks. Barclays was the top FTSE100 faller, down 3.7 per cent as worries resurfaced over European sovereign debt, caused by Moody’s announcement that it was reviewing Spain’s credit rating, [...]
Rivals eye up Virgin Atlantic December 14, 2010 RICHARD Branson’s Virgin Atlantic could fall into American hands after several rivals including US-based Delta approached the company about a merger or tie-in deal. A handful of airlines have made enquiries about an eventual partnership with the carrier, according to Sky News, and Virgin has asked Deutsche Bank to help examine its options. Virgin Atlantic [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 14, 2010 FINANCIAL TIMES INVESTOR IRE OVER SIG CHIEF’S PAY Investec Asset Management has hit out at the board of SIG for ignoring investor outcry about the amount its chief executive is being paid. Investec, which owns 3.3 per cent of the Sheffield-based insulation and plasterboard maker, has written a letter to SIG to protest against a [...]
British Airways lifts fuel charge December 14, 2010 British Airways yesterday announced it will raise its fuel surcharge on longhaul flights following a recent surge in oil prices. “BA will increase its fuel surcharge on longhaul services from Thursday, 16 December,” the group said in a statement. “The move reflects the substantial recent increase in the price of oil.” There will be no [...]
Journey into the mighty history of Samarkand December 12, 2010 AROUND Tashkent airport, giant hoardings proclaimed in English: “Uzbekistan Airways Wish You Good Luck”. It might have been more unsettling to read that message driving into Heathrow before our departure. In fact, we’d had an incident-free flight on Uzbekistan Airways to Uzbekistan’s capital. Tashkent sounds endlessly exotic but isn’t really. Much was destroyed by a [...]
BA bids to quash ruling on Hong Kong cabin crew December 7, 2010 BRITISH Airways will this week attempt to overturn a court ruling preventing it from making its Hong Kong-based female cabin crew retire at the age of 45 without a pension. BA is asking the Court of Appeal to quash an earlier ruling that it must apply UK anti-discrimination law to its international cabin crew. In [...]
HAYWARD: THIS YEAR’S HIGHEST PROFILE CEO December 6, 2010 CAUSE for former BP boss Tony Hayward to take comfort from the old adage, “all news is good news” – if he can. Data from media analysis firm Sweet & Maxwell reveals that he was the most high profile FTSE 100 chief executive in the last year. The beleaguered Hayward, who was banished from BP [...]