WHAT THE OTHER PAPERS SAY THIS MORNING November 10, 2010 FINANCIAL TIMES GREENSPAN WARNS OVER WEAKER DOLLAR The US is pursuing a policy of weakening its currency which is driving up exchange rates in the rest of the world, according to Alan Greenspan, the former chairman of the Federal Reserve. Writing in today’s Financial Times ahead of the G20 meeting in Seoul, Greenspan argues that [...]
Huge fines for airline cartel November 9, 2010 ELEVEN airlines including British Airways have been handed massive fines for running a price-fixing cartel on cargo flights, paving the way for a flood of compensation claims against the firms. The EU competition commission said the cartel was “deplorable” and fined the companies €799m (£688.4m), following a four-year investigation. The firms illegally fixed surcharges for [...]
Broughton lying low at chelsea matches November 4, 2010 MARTIN Broughton, the Liverpool FC chairman who brokered the deal to sell the troubled club to the owners of the Boston Red Sox last month, was back where he feels most comfortable this week. Broughton was spotted walking out of Stamford Bridge after watching his beloved Chelsea beat Spartak Moscow. But Broughton, who will ease [...]
Cabin crew lose appeal against BA November 3, 2010 BRITISH Airways won the latest round in its bruising battle with cabin crew union Unite yesterday, after the Court of Appeal ruled that reductions in crew numbers were legal. The Court of Appeal upheld an earlier judgement from the High Court, which ruled that BA’s decision did not constitute a breach of contract. In November [...]
BA back in the black October 29, 2010 British Airways expects to deliver further growth in 2011 after posting its first profit in two years, helped by cost cutting and improved demand for premium class travel in the first half. BA, whose merger with Spain’s Iberia completes in January, on Friday reported a pretax profit of £158m for the six months to September [...]
Three cheers for the stars of the Square Mile October 28, 2010 LAST night was truly an exciting and exceptional occasion: City A.M.’s inaugural awards celebrating the best and brightest of London’s business, financial and investment communities. Our inaugural awards ceremony saw more than 450 guests in their finery roll up at the Grange Hotel at St Pauls. Our winners, unique in that each was initially chosen [...]
Business air travel boost benefits BAA October 27, 2010 A BOUNCE-BACK in business travel helped BAA to shrink its losses at Heathrow and Stansted, although the UK airport operator warned of a possible impact next year from spending cuts. BAA also echoed British Airways in urging simplified security at UK airports, saying some measures inconvenienced passengers. BAA said underlying traffic at Heathrow hit a [...]
TONIGHT WILL BE A NIGHT FOR HEARTY CELEBRATION October 27, 2010 THIS evening will see 450 guests in their finery roll up at the Grange hotel at St Paul’s, as City A.M. proudly hosts its first ever awards ceremony honouring the UK’s business stars and City luminaries. The award winners will come from a diverse range of sectors, from investment to retail banking, fund management and [...]
THE TIPSTER October 27, 2010 THE Bank of Japan (BoJ) is expected to make its interest rate decision tomorrow and investors will be looking for signs of further intervention to weaken the yen. Recently the dollar-yen looks like it has reached an area of support around the 15-year low of ¥80.00. Considering that the market is speculating that there will [...]
BA’s chairman attacks security checks in US October 26, 2010 THE chairman of British Airways has attacked US airport security checks and has called for the UK to stop “kowtowing” to US security demands. Practices such as forcing people to take off their shoes, and checking laptops separately, should be abandoned, Martin Broughton said. Speaking at the UK Airport Operators’ Association annual conference, Broughton – [...]