Tuesday 26 May 2009
Virgin Atlantic, the airline controlled by Sir Richard Branson, said on Tuesday that employees would share a bonus payout after it reported a doubling of headline profits.The privately-owned carrier said revenues, including its Virgin Holidays tour

London equities fell on Monday, with resource stocks under pressure after Rio Tinto agreed a significant reduction to its iron ore prices. The FTSE 100 came back from an extended weekend break 31 points weaker at 4,334.62, a decline of 0.7 per cent.

HONG KONG, May 26 – Asian shares fell on Tuesday as a report of fresh missile tests by North Korea added to market tensions at a time when investors are questioning if they are too optimistic about the global economic outlook. Seoul shares fell more

David Cameron will on Tuesday up the ante over reform of Britain’s political system as he promises a slew of ambitious changes to shift power away from Downing Street.The Conservative leader writes in Tuesday’s Guardian that he will implement a “mas

New nuclear power stations will not be built in Britain unless the government provides financial support for the industry, the head of the country’s biggest nuclear generator has warned.Vincent de Rivaz, chief executive of the UK subsidiary of EDF,

Aung San Suu Kyi, Burmese opposition leader and Nobel Peace Laureate, will take the stand at her trial on Tuesday accused of breaching the terms of her detention by allowing a US citizen who swam to her house to spend the night there.The house arres

In one of the most sought-after areas of West University – an exclusive enclave in Houston – sits an empty house that was for sale a year ago at $1.7m (£1.1m) and has been reduced twice, most recently to $1.39m.Huge effort was made to lure a buyer.

Thousands of rich people who backed insurance policies written at Lloyd’s of London with their own wealth and are still exposed to demands for cash face an end to the claims should a UK court approve a transfer of all pre-1993 liabilities to a new c

Accountants risk being sued into collapse and investors could lose vital information if policymakers emphasise the importance of financial stability over transparency, according to Samuel DiPiazza, head of PwC, the world’s largest accounting firm.Hi

SYDNEY, May 26 – Global miner Rio Tinto has agreed a 33 percent cut in contract fine iron ore prices with Japan’s Nippon Steel Corp for the current shipping year, Rio said in a statement on Tuesday. Rio said it will sell Pilbara and Yandicoogina fin

The German government is set to name a preferred bidder for General Motors’ cash-strapped European operations, paving the way for one of the biggest state-supported industrial bail-outs in the country’s history.Angela Merkel, German chancellor, will

US companies are trying to protect their access to capital by hiring all their lending banks as bookrunners when issuing equity or debt securities.By sharing underwriting fees among banks, companies hope to be able to influence their banking relatio

Danone, the world’s biggest yoghurt maker, plans to launch a rights issue to raise €3bn ($4.2bn) to reduce its net debt and give it the flexibility to make bolt-on acquisitions.The Paris-based group, which made net profits of €1.3bn in 2008, has bee

Sheffield United have missed out on a £60m boost to their finances by losing to Burnley in football’s Championship final. Monday’s defeat marks another turn in the fortunes of the Yorkshire side, known as the Blades, that has this year delisted from

BP nominated a Russian businessman as its candidate to serve as TNK-BP‘s chief executive, which it hopes will mark the end of the bitter dispute over management of its Russian oil joint venture. Pavel Skitovich, a director of Interros, the investmen

Ogilvy & Mather is creating a multinational practice to handle clients’ communications on the theme of sustainability, in a push by its new chief executive to be seen as more of a consultancy than an advertising agency.Ogilvy Earth, with a prese



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