THE TIPSTER February 28, 2010 Oil continues to struggle around the $80 mark, after weak economic data in the UK. If western economies stall then demand for crude oil will fall, which will lead to lower prices. Another factor that could weigh on the oil price is weak employment figures in the US. As we approach the summer driving season, [...]
BA reports ‘better than expected’ £50m loss February 5, 2010 BRITISH Airways has reported a £50m pre-tax loss for the third quarter as passenger numbers fell. The result for the three months to December 31 was better than the £151m forecast by analysts. The airline’s deficit for the first nine months of its financial year was £342m. BA boss Willie Walsh said the better-than-expected results [...]
Gatwick sale stings as BAA loses £822m February 22, 2010 THE pressured sale of Gatwick airport has left a bitter taste for BAA, which saw its full-year pre-tax loss more than double to £822m yesterday. A £277.3m writedown related to the £1.5bn offloading of Gatwick to Global Infrastructure Partners was a big contributor to the slump at the airport operator. The transaction, which was completed [...]
Donations to Tories dwarf Labour February 24, 2010 THE Tories will fight the next election with a huge war chest of cash, after raking in twice as much as Labour in donations. David Cameron’s party reported donations totalling £10.5m in the last three months of 2009, dwarfing the £4.9m raised by Labour. Sir Nigel Doughty, founder of private equity house Doughty Hanson & [...]
WHAT THE OTHER PAPERS SAY THIS MORNING February 9, 2010 FINANCIAL TIMES TREASURY BLOCKS £1BN TAX LOOPHOLE A corporate tax loophole that threatened to drain the exchequer of £1bn a year was blocked yesterday by the Treasure in legislation that will be backdated to October 2007. The move is a response to a threat by banks and other companies to exploit an apparent defedct in [...]
Hugh Osmond returning to the market January 24, 2010 THE founder of pub chain Punch Taverns is returning to the market to raise up to £500m for an investment vehicle aimed at buying distressed companies and funds. Hugh Osmond, who also floated Pizza Express, is joining other City heavyweights to launch Horizon, which will try to raise the cash via a public offering on [...]
WHAT FUTURE DOES BRITISH AIRWAYS FACE? June 25, 2009 DOUGLAS MCNEILL ASTAIRE SECURITIESIn many ways, BA is well placed. It has ample stock reserves and can tap the stock market for more cash. The trading environment is difficult because of the absense of premium class passengers, but that traffic will return. But if oil spikes like we saw last summer, it will be a [...]
Alternative exchanges give traders an edge March 8, 2010 ANOTHER shake-up of London’s trading landscape is underway after the London Stock Exchange (LSE) announced on Monday that it would sell 9 per cent of Turquoise, its European trading facility, to three investment banks. Barclays, JP Morgan Cazenove and Nomura each bought a 3 per cent stake of Turquoise for £1m. The multiple owners of [...]
Virgin could appeal BA and AA tie-up February 15, 2010 VIRGIN Atlantic could appeal against a controversial decision by US transport regulators to allow a tie-up between British Airways (BA) and American Airlines (AA). Virgin said it would await final approval by the US Department of Transportation (DoT) and the European Union of the plan to allow BA and AA to work together on ticketing and [...]
Pension shortfalls shrink as equity market recovers January 12, 2010 THE deficits sustained by the UK’s 7,400 private final salary pension schemes have dramatically improved on the back of rising equity markets and bond yields. Their collective shortfall shrank 65 per cent from £93bn to £33bn in December, according to the government’s Pension Protection Fund (PPF). The figures mark significant progress from the £191bn gap [...]