BA, AA and Iberia name tie-up routes October 6, 2010 British Airways, American Airlines, and Spain’s Iberia unveiled four new routes and promised passengers lower prices and flight flexibility as they launched an $8bn (£5bn) transatlantic joint business yesterday. The trio are strengthening their existing oneworld alliance ties — but stopping short of a full financial merger because of strict US laws that bar foreign [...]
FTSE rises on stimulus expectation October 6, 2010 BRITAIN’S top share index closed higher, at a fresh five month peak yesterday led by miners and energy issues as commodities rose on optimism governments will act to stimulate economies around the world. At the close, the FTSE 100 was up 45.63 points, or 0.8 per cent at 5,681.39, its highest close since 26 April. [...]
Restructuring cuts Northern Foods’ costs October 5, 2010 food manufacturer Northern Foods saw sales growth accelerate in its second-quarter and said it was changing the structure of its business to save money as it braces for a possible double-dip recession. “We don’t know whether there’s going to be a double-dip or not but we are planning for it and keeping a weather eye [...]
Traffic rebound boosts BA October 5, 2010 FLAG-CARRIER British Airways (BA) reported a 1.3 per cent rise in air traffic during September, mainly on the back of a return in business travel, boosting its shares to a new two-year high yesterday. BA said that its premium traffic – business and first-class passengers – rose by 4.3 per cent, signalling an end to [...]
Big banks top High Court appearances October 3, 2010 THE UK’S largest four banks were repeatedly in court last year as the number of High Court cases involving FTSE 100 companies jumped by 16 per cent. Lloyds Banking Group, Barclays, the Royal Bank of Scotland (RBS) and HSBC collectively made up 43 per cent of all High Court appearances by the UK’s largest companies, [...]
Rolls-Royce gets new chief September 30, 2010 BRITISH engine maker, Rolls-Royce has confirmed that the Royal Ahold boss is to become new chief executive as Sir John Rose prepares to retire. John Rishton, who is currently chief executive at the Dutch supermarket group, will take up the post next March when Rose stands down. Rose will leave Rolls-Royce after 26 years, of [...]
Rolls-Royce chief retires September 30, 2010 Rolls-Royce’s chief executive Sir John Rose is to retire after 14 years at the helm of the engine-maker. Sir John, who has been with the company for almost three decades, will be succeeded by John Rishton, currently chief executive of the Dutch retail giant Ahold. Rishton is also a former chief financial officer at British [...]
BA’s tie-up with AA and Iberia is ready for take-off September 29, 2010 BRITISH Airways (BA) will officially launch its new joint business with American Airlines (AA) and Iberia next month in a move that is expected to generate $7bn (£4.4bn) in combined revenue a year. The deal, which was given the green light by EU and US competition regulators in July, will generate annual savings of up [...]
BA seals alliance with American Airlines and Iberia September 29, 2010 British Airways, American Airlines and Spanish carrier Iberia have signed off on a long-awaited strategic alliance that will see them cooperate on flights between Europe and North America. “The joint business will launch this October,” British Airways said in a statement. “It will … enable the airlines’ alliance Oneworld to compete on an equal footing [...]
Former US Treasury chief joins BA board September 27, 2010 FORMER US Treasury secretary John Snow, and Telefónica chairman César Alierta, are to join the board of the newly formed International Airlines Group (IAG) as non-executive directors, it was announced yesterday. The company, which is being formed by the planned merger of British Airways and Iberia, will create Europe’s second-largest airline by market value after [...]