FTSE hit by China growth fears and eurozone crisis May 23, 2011 Commodity stocks took a hammering in early trading today as miners and energy related groups suffered from uncertainty in the global economy. The eurozone debt crisis continued to cast a shadow after Italy’s credit rating was downgraded by Standard & Poor’s from stable to negative. Chinese manufacturing data from HSBC showing a ten-month low also [...]
Ryanair profit up – but forecast flat May 23, 2011 Ryanair has reported a 26 per cent rise in annual profit to 401m euros £348m. But the airline says high fuel cost, and a lack of growth in capacity, will mean no increase in profit next year. It forecast a four per cent growth in passenger numbers in 2012, to 75m, and said that average [...]
BEST OF THE BROKERS May 22, 2011 AGGREKO Goldman Sachs rates the power rental company a “buy” and has added the firm to its conviction buy list with a raised target price of 2482p. The broker thinks now is the key time to invest as a result of the favourable pricing environment caused by power shortages in Japan, bolstering the firm’s already [...]
THE TIPSTER May 22, 2011 NO FRILLS airline Ryanair has seen its share price on the up since March, and with oil prices falling, the stock is finding further support. It is due to report figures today and the expectations are that passenger numbers have increased. Capital Spreads quotes 3.54p-3.58p. Optimism has increased about tomorrow’s first quarter Marks and Spencer [...]
Aer Lingus in profit warning May 5, 2011 IRISH airline Aer Lingus may ramp up a controversial cost-cutting plan after confirming profit this year will be significantly below 2010 due to weak demand and higher fuel prices. Facing constant pressure from Ryanair, Aer Lingus has cut routes, staff and pay to survive and another round of cuts could put it on a fresh [...]
Ryanair to trial reserved seats April 19, 2011 RYANAIR is introducing pre-booked seating on some of its low-cost routes, charging passenger an extra £10 each way for the premium service. The system will be trialled on routes from Dublin to London Gatwick and Malaga from mid-May, with 24 seats with extra leg room available for pre-booking. Also yesterday rival airline EasyJet said it [...]
EU launches air passenger law overhaul April 11, 2011 THE EUROPEAN Union yesterday laid out plans to shake up airline passenger compensation laws, after carriers faced massive bills from the Icelandic ash cloud and snow storms. The EU will discuss wide-reaching changes with aviation stakeholders and present a new law in 2012, European Commission vice-president Siim Kallas said yesterday. The review of Regulation 261 [...]
Businesses should take a lesson from Twitter April 10, 2011 I anchored CNBC’s coverage of the European Central Bank (ECB) Rate Decision Special show last week. This involved saying: “Welcome to CNBC. Jean-Claude Trichet is speaking. Let’s listen in,” then tweeting snippets of the proceedings to my Twitter followers, of whom there are literally dozens, including several who think I’m the librarian in Massachusetts who [...]
Italy’s green heart lures clever buyers April 7, 2011 LIKE Nice, Cannes or St Tropez, it’s hard to find a slice of Tuscany that’s escaped the money and appetites of the international set. So for those craving a home in a still-authentic slice of Italy, with budgets below those of the global elite, Umbria is the smart choice. Paul Belcher, director of Ultissimo, a [...]
The smarter way to travel April 7, 2011 ANYONE who thinks a small trolley case is suitable hand luggage for a weekend away or a business trip is suffering a failure of imagination. The only thing in an airport less stylish than a Ryanair boarding queue is a businessman wheeling around a tiny overnight case – at least pick it up, you weed. [...]