WHAT THE OTHER PAPERS SAY THIS MORNING December 11, 2011 FINANCIAL TIMES TNK-BP WARNED ON LEGAL ACTION Two of the independent directors in TNK-BP, the Russian joint venture of BP, warned the board that legal action by the company against either set of shareholders could destabilise the group, according to a letter seen by the Financial Times. In the letter addressed to Mikhail Fridman, TNK-BP’s [...]
Airlines call for an end to passenger tax November 17, 2011 Four of the UK and Ireland’s biggest airlines have called on the government to scrap Air Passenger Duty (APD), saying its negative impact on the economy was outweighing any benefit from the revenue raised. Passengers have to pay between £24 and £170 in APD, depending on the length of flight, substantially more than when the [...]
LAWYER | OF THE YEAR September 21, 2011 DAVID CHEYNE LINKLATERS Linklaters’ David Cheyne, “one of the last of the City’s true corporate legends”, is this year’s top legal brain. Cheyne stepped down as senior partner on 11 September, marking the end of an era at the magic circle firm. SHORTLIST Stephen Griffin, Linklaters Maria Da Cunha, British Airways Sir Nigel Knowles, DLA [...]
RAPID RESPONSES October 16, 2011 Heathwick critic Despite Victoria Borwick’s defence of the “Heathwick” scheme on Friday [To keep the economy flying we need more air capacity], the idea is flawed in our view. British Airways already tried the idea of a dual hub a few years ago and it did not work, in part because connection times were uncompetitive [...]
IAG to acquire bmi November 4, 2011 International Airlines Group is to buy Lufthansa’s British unit bmi to boost growth prospects at its Heathrow hub at a time when airline profits are falling due to higher fuel costs. The announcement came as IAG reported a 31 per cent fall in third-quarter profit, better than expected and outperforming peers, with analysts expecting a [...]
FTSE bounces but travel firms suffer November 22, 2011 Stability in Eurozone bond yields and short-term bargain-hunting gave London stocks some momentum today but investors remained wary after six previous sessions of losses. US markets closed down last night after the bipartisan committee nominated to find $1.2 trillion (£764m) of government spending cuts admitted it could not agree on a plan. Asian markets also [...]
FTSE bounces but travel firms suffer November 22, 2011 Stability in Eurozone bond yields and short-term bargain-hunting gave London stocks some momentum today but investors remained wary after six previous sessions of losses. US markets closed down last night after the bipartisan committee nominated to find $1.2 trillion (£764m) of government spending cuts admitted it could not agree on a plan. Asian markets also [...]
BAA earnings rise as traffic edges higher October 26, 2011 BAA posted a 17 per cent rise in underlying earnings in the first nine months of the year, lifted by traffic growth, especially at London’s Heathrow airport. BAA, owned by a consortium led by Spanish infrastructure group Ferrovial, said adjusted earnings before interest, tax, depreciation and amortisation rose to £842.2m, on revenues 10.2 per cent [...]
BAA earnings rise as traffic edges higher October 26, 2011 BAA posted a 17 per cent rise in underlying earnings in the first nine months of the year, lifted by traffic growth, especially at London’s Heathrow airport. BAA, owned by a consortium led by Spanish infrastructure group Ferrovial, said adjusted earnings before interest, tax, depreciation and amortisation rose to £842.2m, on revenues 10.2 per cent [...]
FTSE in modest gains as Italy and Greece fight to win back market credibility November 11, 2011 Banks led modest FTSE 100 gains in early trading as Greece and Italy fought to convince investors that they could fight back from the economic abyss. Italy, the latest Eurozone nation to come under pressure in the bond market, moved closer to a national unity government, while its treasury managed to sell one-year bills at [...]