Despite the chaotic debut of London Heathrow's Terminal 5 and record fuel costs -- British Airways has still produced a big leap in profits. Annual pretax profit is up 45 percent to 883 million pounds helping BA pay out its first dividend to shareholders since 2001. The growth was driven by cost-cutting and rising business class seat sales. After the T5 fiasco which caused huge disruption to passengers, BA boss Willie Walsh has decided not to take his annual bonus. However, he insists those teething problems are well and truly history: SOUNDBITE: Willie Walsh, CEO, British Airrways: "Well since T5 opened, and that was a very disappointing first couple of days, 2.1 million people have flown through T5 and the vast majority of those people would have experienced a very good performance. The vast of majority of those people will have witnessed the true potential of Terminal Five and I get more letters from my customers now telling me about how pleased they are with T5 than I have...
Fear mounted over a possible euro zone recession, as the economy of the 15 countries which share the euro shrunk for the first time in the second quarter of 2008. The eurozone contraction of 0.2...
Swiss-based UBS back in the bad books on Tuesday as sub prime problems continue to ripple through its operations. The bank said it was axing 5,500 jobs and selling billions of dollars of assets to...
It's nearly eight years since an Air France Concorde crashed shortly after take off from Charles de Gaulle airport in Paris killing 113 people. A French investigation concluded that the crash was...
Japan's top mobile phone player, NTT docomo, is looking for overseas acquisitions amid tough competition at home. New CEO Ryuji Yamada says a recent 30% stake in a Bangladesh carrier is just the...
Inflation in the 15 country Eurozone region jumped to record highs this month with new data showing a year-on-year rise to 3.5 percent. That's up from 3.3 percent in February. Rising food and...
Consumer electronic giants Sony and Matsushita reported higher profits Thursday on the back of robust holiday demand for digital cameras and flat-screen TVs. Sony sees a $3.9 billion profit this...
Asia stocks jumped on Thursday with household names such as Sony boosted by solid U.S.earnings reports. Exporters such as Canon also climbed after strong earnings from computer giant I.B.M....
Asia stocks were mostly lower on Thursday with investors continuing to weigh signs of a weak global economy. China Mobile was a major loser in Hong Kong. One investment bank downgraded the shares...
The trading week began on shaky footing after a bigger-than-expected drop in profits at Bank of America. The largest American retail bank said profits were down 77 percent, hurt by a $5 billion...
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