Microsoft topples Google as consumers’ top brand July 15, 2009 SOFTWARE giant Microsoft has reclaimed its title as the number one UK brand in the UK, overthrowing rival Google, which claimed the crown last year. Bill Gates’ firm moved from second to first place in the 12th annual Superbrands survey, dealing its latest blow in the ongoing battle between the firms for industry dominance. In [...]
BA considers a fundraising July 14, 2009 CASH-strapped airline British Airways (BA) said it was exploring options to raise funds yesterday, as the firm’s directors faced the wrath of its shareholders over controversial cost-cutting plans. Chairman Martin Broughton said at the company’s annual meeting that BA was considering a convertible bond issue as a way of raising cash, while chief executive Willie [...]
‘Old and tired’ electricity gives Spice hot results July 13, 2009 SPICE, a contractor of outsourced utility services, yesterday said its full year profits soared by 58 per cent, on the back of growing regulatory markets and acquisitions. The company, which also said it had bought ComGroup, the Australian telecoms group, said its pre-tax profit was £32.3m, and that revenue had hit £386m, up 24 per [...]
BA PILOTS AGREE TO TAKE PAY CUT July 13, 2009 BRITISH AIRWAYS (BA) pilots agreed to a 2.6 per cent pay cut yesterday, as part of a package of measures designed to save the ailing airline £26m. The move comes as the firm’s directors prepare themselves for what is expected to be a stormy annual meeting today. The pilot’s union Balpa said 94 per cent [...]
Virgin knew of price fixing July 13, 2009 VIRGIN ATLANTIC chief executive Steve Ridgway admitted yesterday he was aware his airline had conspired to fix the price of fuel surcharges between July 2004 and April 2006 with rival British Airways (BA). Ridgway said in a statement: “Although I did not have any direct contact with BA in relation to passenger fuel surcharges I [...]
BA battles the turbulent air ahead of AGM July 12, 2009 INVESTORS in British Airways (BA) are psyching themselves up for another dose of doom and gloom ahead of the ailing airline’s annual meeting tomorrow, as worries about its pension deficit, record losses, tie-up woes and the worldwide downturn weigh on the company. Chief executive Willie Walsh, who has said the carrier is in a “fight [...]
Flights rise at City airport July 9, 2009 CITY Airport yesterday won approval to increase its number of annual flights by 50 per cent by the end of 2010. The increase at the airport, where 70 per cent of passengers are business travellers, is expected to boost the number of people flying per year from 3.3m to 3.9m. The CBI welcomed the news, [...]
Hopes up for Iberia deal July 9, 2009 SPANISH flag carrier Iberia appointed Antonio Vazquez as its new chairman and CEO yesterday, boosting hopes of a tie-up with British Airways (BA). Hard-nosed dealmaker Vazquez, who was already involved in the merger talks due to his role as director at Iberia, will kick-start discussions which have become bound up in red tape a year [...]
First gains of the week as Alcoa boosts the markets July 9, 2009 THE FTSE 100 closed 0.5 per cent higher yesterday, ending a three-day losing streak on the back of gains in miners after reassuring earnings from Alcoa. The index closed 18.43 points firmer at 4,158.66, having fallen 1.1 per cent the previous session to its lowest closing level in more than two months. However trading was [...]
JACKSON CITY RACE INCENTIVE SCRAPPED July 7, 2009 THE fallout continues over tickets from the late Michael Jackson’s planned London tour – and this time, it has hit the City. Standard Chartered, those with elephant-like memories may recall, offered runners in their Great City Race next week the chance to see the King of Pop at the O2 Arena on 6 August, as [...]