Cabin crew reject final offer from British Airways
British Airways has this evening been pushed into turmoil with news that cabin crews have rejected the company's final offer in relation to the ongoing industrial action. While turnout for the vote was well below the recent highs, 73% of those who did vote rejected the offer by Willie Walsh and his board of directors. So what next? While many of the problems associated with the industrial actio...Read More
Tony Blair to advise Lansdowne Partners
Tony Blair has inadvertently placed the UK government in a very difficult position having taken on an advisory role with hedge funds expert Lansdowne Partners that will see him deliver four exclusive speeches to the company's staff. He will receive hundreds of thousands of pounds for the talks later this year which will cover a number of topics of interest to Lansdowne staff and their clients. Th...Read More
Sir Stuart Rose survives investor rebellion
As had been expected at today's AGM, Marks & Spencer chief executive and executive chairman Sir Stuart Rose faced a significant investor backlash. In total 38% of investors called on the former saviour of Marks & Spencer to step down as chairman earlier than 2010 while retaining his position as chief executive. There was also a smaller rebellion, which saw 21.5% of investors vote against or abstai...Read More
British Airways seeks compensation from UK government and European Union
British Airways has today confirmed that it will apply for compensation from the British government and the European Union with regards to the closure of airspace in an around Europe which has impacted upon the company. It is estimated that the crisis is costing between £15 million and £20 million a day and British Airways is not the only company to have applied for compensation because of the v...Read More
General Motors announces major U-turn on GM Europe
Despite months and months of negotiations with the Canadian consortium Magna as well as the German government, General Motors has today announced plans to retain GM Europe and called off the expected disposal. Initially the move has been welcomed in the UK where unions believe this will offer more job security to the Opel division which employs thousands of workers in the country. But what about t...Read More
Get yourself ready for more junk mail in the future!
Yesterday's announcement that the Royal Mail had agreed a 6.9% pay increase with the union bosses was well received across-the-board. While there have been concessions on both sides it would appear that every household in the UK can expect to receive more junk mail in the future with the unions agreeing to abandon a three items of junk mail per household per week upper limit. So why can we expect...Read More
What Can Woolworths Shareholders Expect Now?
As we recently covered on this site the management of Woolworths recently turned down what in affect was a break up bid for the pick and mix kings of the high street. As the business continues to flounder, debts continue to grow and the pension fund deficit moves into dangerous territory just what can shareholders expect in the future?
Many experts in the City were a little surpris...
Who next for the stock market shorters?
They have broken the back of HBOS, which is set to announce a merger with Lloyds TSB, but who do the stock market speculators have in their sights now?
After a day like few others it has been reported that HBOS and Lloyds TSB have agreed a deal which will merge the businesses together. The deal appears to have been prompted by the government as a last ditch attempt to keep the UK f...
US banks still require billions of dollars in funding
Despite rumours that the US banking sector has as a whole escaped relatively unscathed from ongoing stress tests, it would appear that a number of high-profile banks will need significant capital in the short term. The American authorities have given these banks up to one month to raise the additional funding required after a constant drip feed of information to the markets. The aim of drip feedin...Read More
Stockbrokers urge private investors not to ditch banking shares
Despite the fact that the UK banking sector is yet again at the centre of a controversial move by the authorities, stockbrokers in the UK have urged private investors not to ditch their shares. The US government has introduced not only a levy on the banking sector but also confirmed that the future size of banking institutions will be limited and some trading practices will be outlawed. While s...Read More