SHANGHAI/LONDON, March 6 (Reuters) – China’s Fosun
International has bought a 5 percent stake in Thomas
Cook Group, deepening its foray into Europe’s tourism
sector and potentially helping the British company to compete
with travel leviathan TUI Group
Fosun paid 91.9 million pounds ($140.1 million) for the
Thomas Cook stake and will seek to double its holding in the
world’s oldest travel group to 10 percent, it said in a filing
to the Hong Kong stock exchange on Friday.
LONDON, March 2 (Reuters) – Tullow Oil lost over 200
million pounds ($308 million) of its market value on Monday, hit
by concerns that a boundary dispute between Ivory Coast and
Ghana could delay a project off the coast of West Africa.
The Africa-focused firm is developing the TEN project off
the coast of Ghana, in waters over which there is a maritime
boundary dispute between Ghana and Ivory Coast.
LONDON, Feb 27 (Reuters) – British Airways-owner
International Airlines Group increased its 2015 profit
forecast by more than 20 percent, outperforming weaker
continental rivals and sending its shares to an all-time high.
IAG, which is trying to acquire Ireland’s Aer Lingus
, said on Friday that the profit increase would be
driven by cost control across the group and growth at its Iberia
Spanish unit which until last year had dragged on the business.
LONDON, Feb 23 (Reuters) – The operator of London’s Heathrow
Airport is hopeful plans to build a new runway could receive
long-awaited backing from a government-appointed commission this
year, helping bolster traffic at Britain’s busiest airport.
Heathrow reported a 1.4 percent increase in 2014 passengers
on Monday helped by bigger, fuller airplanes. There is little
room for additional flights, as the airport is essentially full,
operating at 98 percent of its capacity.
LONDON, Feb 19 (Reuters) – BAE Systems, Britain’s
biggest defence company, forecast earnings would rise marginally
this year, and was positive on 2016 due to an expected
improvement in U.S. military spending.
Its earnings have in recent years been impacted by shrinking
defence budgets in the United States and Britain, which together
account for almost two thirds of its sales.
BERLIN/LONDON (Reuters) – Europe’s airlines are racing to add Wi-Fi to their planes, eager to attract Internet-hungry customers in a cut-throat short-haul market and potentially add millions of dollars of revenue through entertainment, services and advertising.
U.S. airline passengers already have a chance of accessing Wi-Fi on 66 percent of miles flown, against a worldwide average of 24 percent, according to data from Routehappy, which rates flights worldwide on amenities such as seats and entertainment.
LONDON, Feb 13 (Reuters) – British engineer Rolls-Royce
has warned profits this year could fall by as much as 13
percent on top of an 8 percent drop last year, saying the low
oil price had increased uncertainty for many of its markets and
The world’s second-largest maker of aircraft engines after
U.S. group General Electric had already cut its 2015
forecasts in October, when it shocked the market by warning
there would be no growth this year.
LONDON, Feb 12 (Reuters) – New sponsorship deals helped to soften the blow of missing out on Champions League revenues for English Premier League soccer club Manchester United, who remain on track to meet their financial goals for the year.
The 20-times English champions, third in the Premier League, said total revenue fell 14 percent to 106 million pounds ($162 million) in the three months to the end of December.
LONDON, Feb 6 (Reuters) – British food ingredients company
Tate & Lyle warned that annual profits would be below
the range it forecast in September, hit by a weak performance
from its sweeteners business and sending its shares tumbling.
The latest downgrade represented Tate & Lyle’s third profit
warning in a year after it had previously cut guidance in
LONDON, Feb 4 (Reuters) – Eastern European-focused budget
airline Wizz Air has resurrected plans to list on the London
Stock Exchange, seeking to raise 150 million euros ($172
million) to help compete with larger rival Ryanair.
Hungary-based Wizz, whose rivals also include EasyJet
, pulled a plan for an initial public offering (IPO) last
June, citing market volatility in the airline sector.