BEST OF THE BROKERS June 15, 2009 WORKSPACE GROUPPanmure Gordon upgraded its 2010 estimated dividend per share and net asset value for Workspace Group. The broker was encouraged by Workspace’s final results and feels it is de-risked following its rights issue, debt restructuring and ongoing disposal programme. The analysts rate the stock as a “buy” with a target of 20p. BRITISH AIRWAYSBA’s [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 14, 2009 THE SUNDAYSThe Sunday Telegraph RBS INVESTORS SAY PAY CHIEF EXEC MORERoyal Bank of Scotland chairman Sir Philip Hampton has had to overhaul the planned incentive package for chief executive Stephen Hester after institutional investors raised concerns that it was not generous enough. INEOS DEBT SPARKS WORRIES OVER ITS FUTUREAuditors to Ineos, Britain’s biggest private company, [...]
City set for summer of discontent June 11, 2009 RMT boss Bob Crow threatened further industrial action last night, if London Underground (LU) refuses to meet union demands, as the City prepares itself for a summer of discontent. The City hit out at the union, saying further action would be a threat to the recession-hit capital. “The last thing the business community wants to [...]
Walsh’s pay rises as BA struggles June 10, 2009 BRITISH AIRWAYS (BA) boss Willie Walsh pocketed a six per cent pay rise last year, it emerged yesterday, despite a dismal year for the UK’s flag carrier. Walsh’s basic salary was £735,000 – up five per cent from £701,000 the previous year. His pension fund was also topped up to £90,000 from £81,000. The news [...]
CRITICS DO A U-TURN ON HORNBY’S REPUTATION June 9, 2009 A RINGING endorsement of Andy Hornby, the besieged former chief of HBOS who is now joining retailer Alliance Boots, from the most unlikely of quarters. John Thurso, the Lib Dem spokesman for business, enterprise and regulatory reform, has been among Hornby’s harshest critics as a member of the Treasury Select Committee that harangued various bankers [...]
Summer of strikes looms at BA as job cuts look certain June 9, 2009 BRITISH AIRWAYS’ (BA) chief executive Willie Walsh sought to soft-peddle its staff’s strike threats yesterday, saying an agreement would be reached with unions. But the airline boss refused to rule out jobs losses. The news comes as the ailing airline looks to axe over 2,000 jobs, as it tries to weather the financial storm. “It’s [...]
BEST OF THE BROKERS June 9, 2009 LONDON STOCK EXCHANGE (LSE)Analysts at Bernstein upgraded the LSE to “outperform” with a target price of 950p, based on the potential for cost-savings, a low interest rate environment and a strong post-trade environment to drive stock outperformance. The broker believes that consensus earnings for the group are understated and forecasts four per cent above average [...]
CITY BOYS COME UP TRUMPS FOR SIR ALAN’S NEWEST APPRENTICE June 8, 2009 BEADY-eyed Apprentice followers may have noticed a bevy of City boys getting behind the camera last night for a cameo on the final episode of the show. Pelham PR’s Gavin Davis, Alisdair Haythornthwaite and Alex Walters appeared on screen, with Funsho Allu from insurer AIG and freelance hack Jack Dyson, to advise winner Yasmina on [...]
Iata: airlines will lose $9bn in 2009 as downturn bites June 8, 2009 AILING airlines across the world face losing $9bn (£5.7bn) by the end of the year, the International Air Transport Association (Iata) said yesterday, almost doubling the estimate it made in March. Iata’s director general Giovanni Bisignani said it was “the most difficult situation the industry has faced”. British Airways’ chief executive used the data to [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 8, 2009 FINANCIAL TIMES OBAMA’S SPENDING DRIVE TO FOCUS ON JOBSBarack Obama yesterday stepped up the pace of Washington’s stimulus spending with plans to create or save 600,000 jobs over the next 100 days – four times the rate achieved in the $787bn package’s first 100 days. The announcement, which follows last week’s news that 345,000 jobs [...]