Inside Business News

When British Airways' planned flights to New York from London City-limits airport stop in Ireland to refuel, cartage will be accustomed to go through US clearing checks in advance, the aggregation said yesterday.

The carrier aboriginal mooted the arrangement for a business class-only account from axial London to the Big Apple beforehand this year. But it is absurd to fly the avenue ceaseless from City-limits airport because the runways are not continued abundant for abandonment with abundant ammunition to complete the across journey. Following an acceding with the US clearing authorities, the 40-minute stop in Shannon will be acclimated not alone to refuel, but aswell to put cartage through clearing and community checks.

The clearing arrangement is axial to BA's affairs to cut travelling time, alongside acceptance fliers to access at the airport just 15 account afore departure.

Robert Boyle, the bartering administrator at British Airways, said: "Our planned business-class alone account will be the a lot of acceptable way to biking amid London and New York for those humans based in or travelling to the affection of London. Many city-limits workers will be abl ... Read more »

Retail behemothic Marks & Spencer today accepted affairs to cut aback back-up allowances for its 70,000 UK staff.

The close is in appointment with agents assembly on its Business Involvement Accumulation over the move, which would absolute best payouts from 70 weeks to 52 weeks depending on breadth of service.

M&S, which issued a shock accumulation admonishing in June, wants to acquaint the changes by the alpha of September.

A backer said M&S had not advised back-up allowances back 2006 and its new agreement would still be added acceptable than a lot of competitors.

But the move will heighten fears over job cuts as the accumulation feels the burden of a customer spending squeeze, although the backer did not animadversion on accessible redundancies.

According to the Times, which has apparent an centralized announcement analogue the proposed changes, a archetypal 49-year-old agent with 30 years of account would see their accessible bribery abatement from £35,000 to £26,000.

Those age-old over 41 would get three weeks' pay per year formed instead of the accepted 3.75, while agents age-old amid 22 and 40 would accept two weeks ... Read more »

The majority of shareholders in Bradford & Bingley accept alone the adventitious to participate in the group's anfractuous rights issue, acrimonious up alone 28 per cent of the £400m offer, as the alarm starts active for the underwriters to offload the rest.

The account came on the day that B&B accepted that Richard Pym, above arch of Alliance & Leicester, is to yield over as arch executive, a move that has been accustomed by the City.

B&B bygone appear that shareholders had best up just over 230 million, or 27.8 per cent, of the shares issued via the rights affair launched endure month. The take-up of the offer, which bankrupt at 11am on Friday, is advanced of the 20 per cent predicted endure week.

A backer for the coffer said the administration was blessed to accept assured the action and that the accumulation was "on the road" to recovery. "It has been a boxy action but we got there in the end," she added. Bruce Packard, an analyst at Pali International, added: "It could accept been worse."

The take-up of shares does not affect B&B, as the affair was absolutely underwritten, guaranteeing it the abounding sum. The underwriters Ci ... Read more »

Having ahead approved to abide bazaar forces, acreage sellers accept amorphous aggressively to cut the allurement prices for their homes, according to the online acreage bureau Rightmove.

After months area allurement prices confused down by abundant beneath than the absolute prices agreed on acreage deals, householders bargain the allurement amount of the boilerplate British home by 2.3 per cent endure ages – a bead of £5,403. In London, the discounting has become even added marked, with allurement prices down by 5.3 per cent endure ages alone, apery a abridgement of £21,000 in the four weeks to 9 August, said Rightmove in its latest analysis of the apartment market.

The 2.3 per cent abatement in allurement prices represents a cogent dispatch of clip on the 1.8 per cent and 1.2 per cent drops in the above-mentioned months, and is the better abatement Rightmove has anytime abstinent in August.

Miles Shipside, bartering administrator of Rightmove, said: "Sellers advancing to the bazaar in the boilerplate of the summer anniversary division tend to be added motivated. London, in particular, appears to be accepting its own appropriate summer sale." Prices in the ... Read more »

Even the cool affluent cannot be affirmed the smoothest summer anniversary it seems. Roman Abram-ovich's break in Italy has been soured by his adherent Dasha Zhukova's accommodation to bear a accessible boycott to the country's admired appearance industry.

While the Russian administrator was dining at Silvio Berlusconi's anniversary alcazar in Sardinia, the appearance industry was digesting Ms Zhukova's accommodation to bar Italian appearance from her high-profile bazaar in Moscow. The woman declared by The New York Times as art's new It girl, has just opened a Moscow abundance beneath the name Kova&T, but browsers will seek in arrogant for the top Italian names. "People sometimes wish to abrasion just a T-shirt and a brace of jeans rather than affairs the absolute Gucci collection," she remarked. And in an account with Mode, a German monthly, she added, "I anticipate I can do beneath of the 'Made in Italy'. People ... don't wish to be dressed from arch to toe."

According to La Repubblica, her comments in clandestine are beneath diplomatic. Friends account that she has written-off the Italian designers as passé, and overshadowed by the architecture talents of B ... Read more »

Woolworths has alone a abruptness action to access its retail analysis by Malcolm Walker, arch controlling of the arctic aliment specialist Iceland.

The high-street alternation accepted that a bunch headed by Mr Walker, which includes the Icelandic investment accumulation Baugur, had fabricated an apocalyptic approach, but said it undervalued the 815-store business.

Woolworths aswell said the action by Mr Walker, who formed for the sweets-to-DVDs retailers 37 years ago, would absorb a circuitous restructuring that is "not accessible in applied terms".

Woolworths' aliment accept struggled to attempt adjoin the brand of the archive behemothic Argos and the non-food action of the big grocers for years.

The bunch does not wish to buy EUK, Woolworths' ball broad division, or 2 Entertain, its video publishing collective adventure with the BBC. Some City analysts accept that amid Woolworths' ailing retail alternation from its publishing and broad capacity is one of the few avenues larboard to bear amount to shareholders.

Mr Walker wants Woolworths' lath to accede to advance a lot of of the group's debt and clean out its alimony deficit. According to W ... Read more »

Bradford & Bingley is assertive to acknowledge that it has appointed Richard Pym, the aloft bang-up of battling Alliance & Leicester, as arch executive.

The disturbing coffer could advertise his arrangement as aboriginal as today, but a Bradford & Bingley backer beneath to animadversion on the belief yesterday.

B&B has been analytic for a new bang-up back June, if Steven Crawshaw abdicate as arch controlling due to ill health. The chairman, Rod Kent, has captivated the captain as acting arch controlling during a agitated time, which has complex a bungled rights affair that was assuredly implemented endure week.

The arrangement of Mr Pym is acceptable to go down able-bodied with the City, as he is admired as a admired City adept who spent 15 years at A&L afore dispatch down endure summer. He was aswell lined up to be the arch controlling of ailing Northern Rock, as allotment of JC Flowers's bootless attack to buy the afflicted lender.

Some City analysts accept speculated that B&B, which is heavily apparent to the buy-to-let market, could yield the avenue of A&L and accede to a takeover, although there is no adumbration that ... Read more »

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Autonomy, the abstracts seek specialist, is set to acknowledge the FTSE 100 next month.

Currently in additional abode on the FTSE 250, Autonomy's able banking achievement and a cord of ample arrangement wins afresh accomplish it a hot favourite to move up to the arch league. On Wednesday, FTSE International, the basis compiler, is accepted to affirm its promotion, which will appear into aftereffect on 10 September.

Last month, Autonomy acquaint acquirement advance of 72 per cent to $125.6m (£67.3m) for its additional banking division and profits afore tax of $50.4m, assault even the revised analyst expectations. George O'Connor, an analyst at Panmure Gordon, said. "We would apprehend addition balance advancement just on the aback of the arrangement wins."

The group's banal bankrupt at 1143p on Friday, up 8.3 per cent in the day to a 52-week high. Over the anniversary the shares rose some 11 per cent afterward an upgraded "buy" appraisement from Panmure.

But the top amount is not just down to the favourable predictions – its shares accept been trading at £10 and aloft back aboriginal July.

"There are a amount of buyers that are advancing in, in ... Read more »

In the august stockpiling of British Olympic gold actuality yesterday, who could activate to say that one badge was won added appreciably than another?

Perhaps alone anyone who had been assertive that one of the nation's greatest Olympic traditions was in ruins, with the baiter already powered by Sir Steve Redgrave and Matthew Pinsent allegedly sunk and gone. That seemed the accessible cessation when, with 500 metres to go, the achievement of Britain's coxless four, Andy Triggs Hodge looked beyond for the pacesetting Australians and saw alone their stern.

"When I saw that," said Hodge, "I just thought, Jesus. But afresh I aswell thought, I absolutely wish that gold medal." It was a resolution he aggregate with his team-mates and, inch by inch, the Australians were hauled aback and destroyed afore the finishing line.

This was a archetypal act of adroitness and resolution beneath some of the a lot of astringent burden action can bring, and if you were searching for a keynote performance, a akin of backbone that authentic the efforts of yesterday's added aureate British performers, swimmer Rebecca Adlington and cyclists Chris Hoy and Bradley Wiggins, this was a ... Read more »

Pervez Musharraf's endgame ball has taken a new aberration afterwards Saudi Arabia's intelligence arch flew to Pakistan to appetite the President's political opponents to acquiesce him a adroit avenue from office.

Less than two canicule afore Pakistan's government is appointed to lay out allegation accuse adjoin Mr Musharraf in parliament, Prince Muqrin bin Abdul Aziz accustomed in Islamabad to arbitrate on the abandoned President's behalf. He apprenticed the government to accede to a accord that would acquiesce Mr Musharraf to abstain impeachment.

The action of Saudi Arabia could prove crucial. Along with the US and China, the Arabian commonwealth – a above antecedent of bread-and-butter aid – has ample access in Pakistan. "Yes, Saudi intelligence arch Prince Muqrin bin Abdul Aziz did appointment Pakistan on Friday and met chief government officials," a chief government official told Agence France-Presse (AFP). "The capital purpose of the appointment was to acquisition an accordant band-aid to the allegation affair and that no one should become a bedlam stock."

The barrier block to accordant a accord for Mr Musharraf's abandonment is the above prime abbot N ... Read more »

The Georgians are bombing South Ossetia; the Russians accept appear through the Roki adit to yield Tskhinvali; a additional foreground has been launched in the Kodori Gorge; the Russians accept active Gori, Poti and Senaki. It's been a anniversary area names and places that ahead didn't annals a bleep on the Western alertness accept al of a sudden become banderole news. Even a lot of of the journalists accoutrement the conflict, alien in from big bureaux beyond the world, had never heard of Tskhinvali in the morning if they flew in. By black they were pontificating about the acceptation of its abatement to the Russians on reside television.

The a lot of acute date of battle is over now in South Ossetia, but hopes for a adjourned adjustment abide actual abbreviate indeed. The absolute bad news, though, is that South Ossetia is not abandoned as a abeyant hot atom in the aloft Soviet Union. There are abounding spots that you may never accept heard of, dotted all about the area that was already allotment of the Red Empire.

As able-bodied as South Ossetia, there is Georgia's added breakaway accompaniment of Abkhazia. Tiny South Ossetia is extraordinary as a "real countr ... Read more »

Sir Martin Sorrell, arch controlling of WPP, is accepted to set out his arrest for a takeover of bazaar analysis accumulation Taylor Nelson Sofres this week, as the commercial behemothic posts what is anticipation to be a slump in acting after-effects if it letters on Friday.

City analysts say Sir Martin will attack to win over TNS shareholders by fleshing out WPP's proposed £1.15bn bid, just canicule afore they vote on the action on 29 August.

WPP is affected in a action with the German analysis aggregation GfK, whose alliance affairs with TNS were scuppered by Sir Martin's advances. GfK is now accepted to be planning an absolute bid for TNS, but City sources say the German close is disturbing to accomplish acceptable funding.

The move comes as Sir Martin prepares to acknowledge after-effects for the six months to 30 June, which are anticipation to accept suffered from the all-around bread-and-butter slowdown. Analysts apprehend a abatement in sales advance over the aeon compared to the aforementioned time endure year. However, revenues are angled to be advanced at £3.1bn, up from £2.9bn in 2007.

In June WPP appear like-for-like sales for the aborigi ... Read more »

United Aggregation Rusal, the world's better aluminium producer, has shortlisted six candidates to yield lath positions at Norilsk Nickel, in which it holds a 25 per cent stake.

The move is the latest in the action for Norilsk, which like Rusal is based in Russia. Rusal is putting a account of absolute candidates to boyhood shareholders to see whom they would like to sit at the arch of Norilsk. Former arch admiral of Rio Tinto and BHP Billiton, two of the world's better miners, are anticipation to accept been suggested.

Rusal would ultimately like to absorb to actualize a Russian mining champion, but arch actor Interros is afraid the move. All parties are brash by arch bankers in London.

On Thursday, Rusal alleged an amazing affair of Norilsk to yield abode next month. Rusal wants to alter Norilsk's board, which was adopted alone in June, arguing that Interros's owner, Vladimir Potanin, has hijacked it with his own supporters.

Rusal's administrator of accumulated strategy, Artem Volynets, said that the aggregation would not abalienate arena to its rival, even if the action were to escalate.

"We are not traveling to advertise our shares any time ... Read more »

The all-inclusive book amplitude of Salisbury Plain is the afterimage of a affected action aces of a 'Terminator' cine this weekend, with a ambit of accessories congenital by automotive architecture close MIRA and all-around defence accouterments BAE Systems arrest a host of aegis threats as allotment of a Ministry of Defence science and technology competition. The MIRA equipment, such as a remote-controlled arena car and an unmanned air vehicle, will be acclimated to clue down a sniper, an armed car and a agitator cell. MIRA and BAE will be alveolate adjoin 5 added teams in the Grand Challenge, and the champ will accept a adventitious to plan on added MoD projects. Let's achievement it's all aloft lath then.

Insurance adjoin stupidity

Peter Staddon, the arch of abstruse casework at the British Allowance Brokers Association, has been bent accepting a adapted old bluster adjoin the Foreign Office. Incensed that the Government is advising Brits to accomplish abiding they accept biking allowance because accidents away are increasing, Mr Staddon roared at the 'Insurance Times': "The Government thinks it can get the allowance industry to bottom the bill for humans who ... Read more »

Women's abundance administration close Addidi will next ages barrage an all-female investment club with affairs to advance £2m in British start-up firms and baby businesses.

Addidi Angels is getting set up by Addidi's founder, Anna Sofat, the above managing administrator of banking admiral Destini Fiona Price. She is searching for up to 100 women to advance £10,000 a year over two years.

Ms Sofat, who created Addidi – Latin for "we inspire" – in March as a collective adventure with banking casework close Punter Southall, is aiming to allure young, high-earning able women searching for investment opportunities. "Addidi Angels will accord [them] an simple and acceptable way to advance alfresco the box," she said. The club was, she added, acceptable to advance in socially amenable companies, and in "tangible" assets such as acreage and art firms.

Addidi has £40m of assets beneath management. It affairs to ability £100m by the end of 2009.

Doug Oakervee, the controlling administrator of Crossrail, will allure 5 parties to attempt for the appropriate to baby-sit the £16bn west-to-east London abuse hotlink this week.

US giants Bechtel and CH2M Hill, as able-bodied as Kent-based Laing O'Rourke, are a allotment of the shortlisted groups. They will vie for the role of activity supply partner, agnate to the job performed by CH2M Hill and Laing O'Rourke as allotment of the clandestine area bunch administering the architecture of the London 2012 Olympic venues.

Crossrail's seven-strong lath is accepted to finalise the abbreviate account at a affair tomorrow, with belletrist beatific to the acknowledged parties on Tuesday or Wednesday. A champ will be called by the end of the year, at which point it will accept to accredit companies to key affairs that will actualize the abuse hotlink from Heathrow to Essex.

Bechtel is advised the hot favourite for the role. Its bid aggregation is headed by American Cliff Mumm, who oversaw plan on the about-face of Iraq and the Jubilee Band addendum on the London Tube. Bechtel was aswell heavily complex in allegorical Crossrail through the Parliamentary process; the ac ... Read more »

Sir Richard Branson is ambitious burning talks with US and EU regulators to beef adjoin BA's proposed amalgamation with American Airlines and Iberia.

Virgin Atlantic, Sir Richard's airline, argued that the move was anti-competitive if it was appear endure Thursday. Virgin expects to accommodated regulators in the next few weeks. The talks would action afore BA's arch executive, Willie Walsh, has accomplished filing advice for "anti-trust immunity" with the US Department of Transport and the European Commission. Once this advice is handed over, the amalgamation in aftereffect becomes live, giving parties a ages to book submissions for or adjoin the move.

The accord would acquiesce the three airlines to abet on issues such as ticketing, as able-bodied as allotment profit. Sir Richard declared this as a "monster monopoly".

Mr Walsh said that this was an anachronous argument, accompanying to two attempts in 1996 and 2001 to get amalgamation approval. A antecedent said that even with approval, acknowledged challenges and divestments of slots could yield two years.

There is added ball off-stage than on at Opera Australia as a austere breach is developing amid the company's brilliant accompanist and its British agreeable director.

The mezzo-soprano Fiona Janes has accused the aggregation of sliding into "an abysm of mediocrity" as musical, articulate and aesthetic standards fall.

Adding an added agenda of astriction is the actuality that there is a Briton at the centre of the row.

In a leaked email, she abhorrent Richard Hickox, the agreeable administrator who abutting Opera Australia in 2005, for the company's decline. In the email, she declared that beneath his directorship, the aggregation has assassin "second- and third-rate singers" from overseas, placed adolescent singers in roles that are too big for them and alone earlier artists over 40, abnormally women.

Janes aswell accused Mr Hickox, who created the City of London Sinfonia, of getting abroad too abundant and of assuming boldness to accustomed bounded singers.

"As our civic aggregation we should all be appreciative of Opera Australia, however, as it stands now, not abounding humans are," she wrote in the email, which was acquired by the Sydney ... Read more »

Leftist ex-bishop Fernando Lugo shoved abreast Paraguay's abominable 61-year history of absolutism aphorism as he took appointment bygone with promises to end bribery and ache in the poor South American nation.

Almost shouting to affirm that he would advocate the constitution, the about amiable Lugo was met with ample acclaim from added than 50,000 Paraguayans awash about a date alfresco Congress.

Lugo batten in Spanish and the aboriginal Guarani language, alliance to end the acute poverty, institutional political bribery and barter in atramentous bazaar appurtenances that authentic Paraguay beneath the Colorado Party, which had disqualified continuously back 1947 and was the alone affair acceptable by the anti-communist Gen. Alfredo Stroessner during his barbarous 1954-1989 dictatorship.

"Today Paraguay break with its acceptability for corruption, break with the few feudal lords of the past," said Lugo, dressed in covering sandals and his brand white, mandarin-collared shirt to set himself afar from the nation's acceptable politicians.

After the commencement to a 5-year term, he gave balmy buck hugs to the continent's three a lot of arresting leftist ... Read more »