Eos was an extremely odd duck of an airline. It flew only one route, from New York's JFK to London. It was an all business class affair, but, with a recession in full-swing flying is becoming a luxury, even for some businesses. The bankruptcy of Eos over the weekend serves to remind the industry that rising fuel prices cannot be offset by increased ticket prices. The managements at Delta (DAL) and Northwest (NWA) have decided that there is strength in numbers. They are merging and my be followed into the marriage chapel by Continental (CAL) and United (UAUA). There is...
Taliban militants have claimed credit for an audacious attempt to assassinate the president of Afghanistan during a military parade in Kabul marking the 16th anniversary of the end of the Soviet backed government Source: FT.com - US homepage | 27 Apr 2008 | 1:04 pm
Eos Airlines, a premium-class airline operating flights between New York and London, said on Saturday that it filed for protection from its creditors under Chapter 11 of federal bankruptcy law and would wind down its operations.
New York-based business class airline Eos ceases operating and files for bankruptcy protection. Source: BBC News | Business | World Edition | 27 Apr 2008 | 12:14 pm
Eos Airlines, the loss-making US all-business class carrier, has collapsed into bankruptcy and is ceasing operations. Last-ditch efforts to raise $50m from one of its existing investors failed Source: FT.com - US homepage | 27 Apr 2008 | 11:39 am
Israeli stocks were higher, with tech stocks particularly strong, a day before the Bank of Israel makes its monthly decision about its benchmark interest rate.
LONDON (Reuters) - British HBOS Plc's board will meet on Monday to discuss a possible rights issue ahead of the banking group's annual investor meeting (AGM) on Tuesday, Sunday newspapers... Source: Infocious RSS raw feed - channel BNewsBusiness | 27 Apr 2008 | 10:44 am
LONDON (Reuters) - British HBOS Plc's board will meet on Monday to discuss a possible rights issue ahead of the banking group's annual investor meeting (AGM) on Tuesday, Sunday newspapers reported.
Eos Airlines, a premium-class airline operating flights between New York and London, said on Saturday that it filed for protection from its creditors under Chapter 11 of federal bankruptcy law and would wind down its operations.
Hundreds of workers at Scotland's only oil refinery on Sunday began a 48-hour strike that has forced BP PLC to shut a pipeline system that delivers almost a third of Britain's North Sea... Source: Infocious RSS raw feed - channel BNewsBusiness | 27 Apr 2008 | 10:14 am
Gruppo Lottomatica, the operator of Italian lottery games and a major worldwide lottery operator, said on Saturday that the Pennsylvania Lottery changed course and awarded a contract to a rival.
Speculators who've bet billions driving oil prices into the stratosphere face a huge crash to Earth if Fed Chairman Ben Bernanke hits the off-switch of his rate-cutting machine. That's the word from the... Source: Infocious RSS raw feed - channel BNPaperBusiness | 27 Apr 2008 | 8:38 am
STEVE Jobs is already in your head and your heart - and now he may be gunning to win over your virtual soul. The Apple CEO recently revealed that he is thinking about developing a virtual Apple store... Source: Infocious RSS raw feed - channel BNPaperBusiness | 27 Apr 2008 | 8:38 am
Yet another one-time high-flying hedge fund appears ready to crash to earth. Seven-year-old SageCrest II, which promised investors lofty returns by making art-, real estate- and structured settlement-based... Source: Infocious RSS raw feed - channel BNPaperBusiness | 27 Apr 2008 | 8:38 am
Dear John: The "official" inflation rate is nonsense. Anyone who goes to the market can see that a 30 percent to 40 percent rise seems more like it. What screwball methodology is used to concoct this charade?... Source: Infocious RSS raw feed - channel BNPaperBusiness | 27 Apr 2008 | 8:38 am
Harvey Weinstein is dreaming of life after MGM. The studio chief is said to be reviewing his options for a new pay television distribution agreement, people said - one that will net The Weinstein Co... Source: Infocious RSS raw feed - channel BNPaperBusiness | 27 Apr 2008 | 8:38 am
WINNERSSTEVE JOBSApple CEO reports sales of computers, iPods and iPhones that beat Wall Street estimates.NELSON PELTZIn his third attempt, investor succeeds in buying Wendy's burger chain for $2.4B.ALAN... Source: Infocious RSS raw feed - channel BNPaperBusiness | 27 Apr 2008 | 8:38 am
The economy may be sour and print media sales flat, but two 29-year-old entrepreneurs from Phoenix have defied the odds with a frothy success story - a consumer magazine covering the craft beer industry... Source: Infocious RSS raw feed - channel BNPaperBusiness | 27 Apr 2008 | 8:38 am
Two Wall Street watchdogs are warning investors to study their brokerage statements. The two claim they are seeing a marked increase in theft by brokers - particularly via forged clients' signatures and... Source: Infocious RSS raw feed - channel BNPaperBusiness | 27 Apr 2008 | 8:38 am
ALL steamed up about the soaring price of rice, pasta, milk and eggs? This week food inflation rose to the top of the national agenda, amid reports that US consumers were hoarding rice on the West Coast... Source: Infocious RSS raw feed - channel BNPaperBusiness | 27 Apr 2008 | 8:38 am
Microsoft's deadline to strike a deal with Yahoo! or go hostile came and went yesterday without so much as a hint of aggression from its almost-always antagonistic CEO Steve Ballmer. Ballmer's silence... Source: Infocious RSS raw feed - channel BNPaperBusiness | 27 Apr 2008 | 8:38 am
Oil giant BP PLC on Sunday was closing a pipeline system responsible for delivering almost a third of Britain's North Sea oil production. The closure of the Forties Pipeline System was... Source: Infocious RSS raw feed - channel BNewsBusiness | 27 Apr 2008 | 8:25 am
HONG KONG (Reuters) - In an office full of modern Chinese paintings overlooking Hong Kong's Victoria Harbour, Richard Elman, founder and head of Asia's largest commodities supplier Noble... Source: Infocious RSS raw feed - channel BNewsBusiness | 27 Apr 2008 | 7:57 am
HONG KONG (Reuters) - In an office full of modern Chinese paintings overlooking Hong Kong's Victoria Harbour, Richard Elman, founder and head of Asia's largest commodities supplier Noble Group, says he has been lucky.
The writer of Friday's Movie Projector column, which looks at weekend box-office prospects, finds going to the multiplex is still a relative bargain.
In Berkeley circa 1971, a weekend matinee at the local movie house cost about a buck. Ten-year-old Projector, flush with his $5 weekly allowance, could catch "Willy Wonka & the Chocolate Factory," hit the concession stand for popcorn, a Coke and Bon-Bons, and still have enough cash left over to buy the next week's essentials at the corner store: baseball cards, Hershey bars and comic books.
After more than a dozen years of dreaming up sports cars, Jason Hill opens his own firm specializing in bold, energy-efficient concepts.
For the son of a General Motors designer -- born and raised in Detroit in the final years of the "big, bigger and biggest" age of American cars -- creating a vehicle that doesn't even have a combustion engine would seem an unlikely fate.
Oil giant BP PLC was completing the closure of a pipeline system responsible for delivering almost a third of Britain's North Sea oil production Sunday. The closure of the Forties... Source: Infocious RSS raw feed - channel BNewsBusiness | 27 Apr 2008 | 6:33 am
Reuters - Australia said on Sunday no Chinese
companies have been told to withdraw applications to buy into
Australian resource firms, despite media reports Canberra was
pressuring China to back away from such investment. Source: Yahoo! News: Business | 27 Apr 2008 | 6:17 am
SYDNEY (Reuters) - Australia said on Sunday no Chinese companies have been told to withdraw applications to buy into Australian resource firms, despite media reports Canberra was pressuring Source: Infocious RSS raw feed - channel BNewsBusiness | 27 Apr 2008 | 6:16 am
SYDNEY (Reuters) - Australia said on Sunday no Chinese companies have been told to withdraw applications to buy into Australian resource firms, despite media reports Canberra was pressuring China to back away from such investment.
Eos Airlines has filed for Chapter 11 bankruptcy and will cease operations by Monday, it said Sunday. The business class-only airline is planning to operate its final flights between... Source: Infocious RSS raw feed - channel BNewsBusiness | 27 Apr 2008 | 5:50 am
New York-based business class-only Eos Airlines says it has filed for Chapter 11 bankruptcy and will cease operations by Monday. The airline is planning to operate its final flights... Source: Infocious RSS raw feed - channel BNewsBusiness | 27 Apr 2008 | 4:57 am
A year after the Estonian capital Tallinn was trashed in demonstrations sparked by the relocation of a Soviet war memorial, the jury is still out on whether Russia has used backdoor trade... Source: Infocious RSS raw feed - channel BNewsBusiness | 27 Apr 2008 | 4:42 am
Spring in the eurozone has brought with it a glimmer of hope that a worrying spell of winter inflation may be on the wane, while there is also evidence that a widely expected downturn is... Source: Infocious RSS raw feed - channel BNewsBusiness | 27 Apr 2008 | 4:15 am
A whole lot of economic news will be squeezed into the next five days, which should clarify at least a few questions: Will the Federal Reserve signal an end to its rate cuts? Has the economy begun to contract? Who's hiring?
WHEN executives at the UK catering firm Compass were invited to bid for the
lucrative contract to provide food at the revamped O2 concert arena in
Greenwich, they had a secret weapon. Source: Latest Business News from Times Online | 27 Apr 2008 | 12:01 am
Richard Tyler finds out why some of Britain's brightest postgraduates are decamping to the US West Coast Source: Telegraph Business | 27 Apr 2008 | 12:01 am
Clothing suppliers to Mk One, the retail chain that has been put up for sale by Baugur, the Icelandic retail investor, have lashed out at the company after it cancelled cheques that had been sent out to them as payment. Source: Telegraph Business | 27 Apr 2008 | 12:01 am
Royal Bank of Scotland's Chinese joint venture partner has emerged as one of the potential suitors for the bank's British insurance business, The Sunday Telegraph has learned. Source: Telegraph Business | 27 Apr 2008 | 12:01 am
The chief executive of RBS seemed unusually nervous this week, as some investors are baying for blood, writes Katherine Griffiths. Source: Telegraph Business | 27 Apr 2008 | 12:01 am
'A whole load of stuff could come apart here," warned Art Cashin last week on CNBC - the US business channel. "This oil thing - it's gettin' crazy". Source: Telegraph Business | 27 Apr 2008 | 12:01 am
The world has fallen out of love with the coffee giant. James Quinn in New York reports on how it is attempting to brew up a solution. Source: Telegraph Business | 27 Apr 2008 | 12:01 am
Luke Johnson, a private equity buccaneer who chairs a public broadcaster, has polished up his PR, yet has lost none of his prickliness. Juliette Garside reports. Source: Telegraph Business | 27 Apr 2008 | 12:01 am
The Competition Commission will this week spark anger among UK supermarket bosses by demanding that they foot much of the bill for the controversial industry ombudsman it is planning. Source: Telegraph Business | 27 Apr 2008 | 12:01 am
One of Britain's largest independent providers of nursing staff to the NHS could be about to change hands. Source: Telegraph Business | 27 Apr 2008 | 12:01 am
The country's biggest supermarkets have been raided by consumer watchdogs over allegations of price fixing. Source: Telegraph Business | 27 Apr 2008 | 12:01 am
THE board of HBOS will meet tomorrow to decide whether to approve a
multi-billion-pound rights issue to repair the bank’s balance sheet. Source: Latest Business News from Times Online | 26 Apr 2008 | 11:00 pm
Ineos, the petrochemicals giant whose Grangemouth refinery in Scotland has
been shut down by a strike, is in talks with British Energy over a power
deal that would help to finance a new generation of nuclear power stations
in Britain. Source: Latest Business News from Times Online | 26 Apr 2008 | 11:00 pm
ABBEY is expected to reveal a jump of almost 20% in first-quarter profits this week, after picking up mortgage customers from struggling rivals. Source: Latest Business News from Times Online | 26 Apr 2008 | 11:00 pm
THE former chief executive of Boots the Chemist is set to become the new
chairman of Virgin Active, the health-club chain owned by Sir Richard
Branson. Source: Latest Business News from Times Online | 26 Apr 2008 | 11:00 pm
MOST firms have not been affected by the credit crunch and there is a risk that the attention devoted to its impact on the City and Canary Wharf overdoes the gloom, business leaders say. Source: Latest Business News from Times Online | 26 Apr 2008 | 11:00 pm
A RADICAL reshaping of world aviation is set to kick off this week, with four
of the biggest American players in takeover talks and bidders circling BMI
British Midland, the second-biggest airline at Heathrow. Source: Latest Business News from Times Online | 26 Apr 2008 | 11:00 pm
THE investigation into the collapse in the share price of HBOS last month on a
rumour that the bank was facing a liquidity crisis, has been widened to take
in other banks that have suffered similar falls. Source: Latest Business News from Times Online | 26 Apr 2008 | 11:00 pm
INVESTIGATORS have caught BAA trying to influence consultants advising the
Competition Commission inquiry that urged a break-up of the airports group. Source: Latest Business News from Times Online | 26 Apr 2008 | 11:00 pm
THE hotelier Sir Rocco Forte is to expand his presence in the Middle East after signing a deal to open a new property in Saudi Arabia, his second in the region. Source: Latest Business News from Times Online | 26 Apr 2008 | 11:00 pm
WASHINGTON (MarketWatch) -- Although many commentators are talking as if the Federal Reserve has already decided to cut interest rates by a quarter-point rate cut next week followed by a pause over the summer, there is a chance the Fed could instead decide to just pause right here, Fed watchers said.
Jerome Kerviel, the trader accused of causing record losses at his former employer Societe Generale, has reportedly moved over to information technology in a new job at French software firm LCA.
New York Daily News publisher Mortimer Zuckerman has reportedly matched News Corp.’s $580 million offer to buy Newsday, raising the ante for one of the region’s major dailies, even as the overall newspaper industry continues to shrink.
Reuters - Wachovia Corp is being
investigated by federal prosecutors as part of a probe into
alleged laundering of drug proceeds by Mexican and Colombian
money-transfer companies, The Wall Street Journal reported on
Saturday.
Outsourcing firms increasingly offer counseling to help employees deal with health and even relationship troubles.
After two years working nights at a U.S. company's computer call center, Vamsi knew it was time to quit when his 6-year-old son brought home a school portrait he'd drawn of his father, asleep in bed.
With little prospect of capital growth during the next two years, the local property market is losing its lustre for all but the canny, cashed-up bargain hunter, and the spotlight has switched to Australia.
The property capital... Source: New Zealand Herald - Business | 26 Apr 2008 | 5:00 pm
The weakening New Zealand economy has failed to sway the Reserve Bank, which opted to leave interest rates exactly where they were on Thursday.
Governor Alan Bollard surprised no one when he announced that the official cash rate... Source: New Zealand Herald - Business | 26 Apr 2008 | 5:00 pm
Economists are predicting unemployment to double to between 6 and 7 per cent if the international credit crunch turns critical here.
ANZ chief economist Cameron Bagrie predicts that, at best, the unemployment level will increase... Source: New Zealand Herald - Business | 26 Apr 2008 | 5:00 pm
Auckland airport investors may have strong grounds to take a class action suit against the Government for the losses they suffered through Finance Minister Michael Cullen's intervention in the Canadian Pension Plan's partial bid.
It... Source: New Zealand Herald - Business | 26 Apr 2008 | 5:00 pm
The BBQ swirl has gone, the cheese is dwindling and chicken pizzas are disappearing - are New Zealand's favourite pizza companies skimping on their toppings?
The nation's three leading chains have indeed cut ingredients but claim... Source: New Zealand Herald - Business | 26 Apr 2008 | 5:00 pm
What is the Guardian Trust Centre for Philanthropy?
It's good to give, so we have created this centre to help people do so knowledgeably and sustainably. The centre is a platform for private philanthropists to choose the best... Source: New Zealand Herald - Business | 26 Apr 2008 | 5:00 pm
Mark Weldon deserves congratulation for cleaning up in the 100m butterfly at the World Masters championships, but the former Olympian's competitiveness is (thankfully) not limited to the swimming pool.
The NZX, which he runs, posted... Source: New Zealand Herald - Business | 26 Apr 2008 | 5:00 pm
Embattled Blue Chip co-founder Mark Bryers has had another week to forget.
Four days after being threatened with bankruptcy in separate High Court claims over combined debts of $16 million - and another Blue Chip company going... Source: New Zealand Herald - Business | 26 Apr 2008 | 5:00 pm
What is it called and what sort of savings product is it?
UDC Finance's Term Maximiser Fund is a managed fund under the new portfolio investment entity (PIE) tax rules.
What is the company behind it?
UDC is a subsidiary... Source: New Zealand Herald - Business | 26 Apr 2008 | 5:00 pm
Retail sales slumped by a seasonally adjusted 0.7 per cent in
February, figures published by Statistics New Zealand (SNZ) today show.
The
drop, which followed a 0.3 per cent increase in January, caught
economists by surprise, with... Source: New Zealand Herald - Business | 26 Apr 2008 | 4:34 pm
CHICAGO (Reuters) - Wachovia Corp is being
investigated by federal prosecutors as part of a probe into
alleged laundering of drug proceeds by Mexican and Colombian
money-transfer companies, according to a report in the Wall
Street Journal on Saturday.
Reuters - New York Daily News owner Mortimer
Zuckerman has submitted a $580 million bid for Tribune Co's
Newsday daily newspaper on Long Island, New York, matching a
bid by News Corp (NWSa.N) Chief Executive Rupert Murdoch,
according to a source familiar with the matter.
NEW YORK (Reuters) - New York Daily News owner Mortimer Zuckerman has submitted a $580 million bid for Tribune Co's Newsday daily newspaper on Long Island, New York, matching a bid by News Corp Chief Executive Rupert Murdoch, according to a source familiar with the matter.
Wachovia Corp. is being investigated by Federal prosecutors as part of a probe into alleged drug money laundering by Mexican and Colombian money-transfer companies, according to a Wall Street Journal report Saturday morning.
Reuters - Wachovia Corp is being
investigated by federal prosecutors as part of a probe into
alleged laundering of drug proceeds by Mexican and Colombian
money-transfer companies, The Wall Street Journal reported on
Saturday.
Reuters - New York Daily News owner Mortimer
Zuckerman has submitted a $580 million bid for Tribune Co's
Newsday daily newspaper on Long Island, New York, matching a
bid by News Corp (NWSa.N) Chief Executive Rupert Murdoch,
according to a source familiar with the matter.