E-commerce company eBay Inc. has been summoned on the 16th of November by the state of California and their Department of Justice as well. The case is a result of an illegal agreement of the e-commerce company eBay Inc. with Intuit Inc. that the former would not employ the workers of the latter.
Royal Mail gears up for Christmas as it hears Santa’s steps. Therefore Royal Mail has decided not only to open new handling centers to keep up with a boom in online shopping, but also to publish its new Christmas stamps and introduce a new cheap stamps scheme as well.
Virgin Australia Holdings Ltd. announced on the 30th of October that it sold a 10 percent stake to Singapore Airlines Ltd. The company announced two other deals as well. Virgin Australia, the Australia’s No. 2 carrier, is sharpening its knives as recent deals are aimed at threatening Qantas Airways Ltd., which has been a leader of Australian aviation market for over a decade.
BAA, leading UK airports company, informed on the 15th of October that the BAA name would disappear from its airports. According to the company’s statement, airport operator BAA is to change the name under which the company operates its UK airports. The company’s portfolio of airports includes Heathrow, Glasgow, Aberdeen Southampton and Stansted and all of them will operate under their stand-alone brands. The name changes are effective from the 15th of October.
According to a congressional report released on the 8th of October, two of the telecom equipment makers of China were stripped of their ambitions of doing business with the US companies. Chinese telecom’s hopes dashed as a result of this report thereby raising fears that would also retaliate at some point of time.
Network Rail plans to open a 300,000 sq ft national distribution centre, NDC, at Prologis’ Ryton site, which was the site of the former Peugeot plant. The £25 million national distribution centre, which will be located near Coventry in the West Midlands, will create as many as 100 jobs.
The UK government scraps rail deal pertaining to West Coast Main line, and ends up offering the West Coast rail franchise to a private service provider. This action of the government has made many express doubts over the manner in which the UK government is dealing with the matter of privatization of railways.
Most of the US high tech companies are expecting to export more and more tablets, cell phones and other electronic devices in the next two year period to some of the growing middle class people of the developing nations. In a survey that was conducted this fact has been revealed as a result rising costs of labor abroad and the free trade pacts.
Japan Airlines Co. was relisted on Tokyo Stock Exchange on the 19th of September just three years after a blockbuster bankruptcy. Japan Airlines Co.’s shares opened 0.5 percent higher than the offering price of ¥3,790. The IPO of the Japanese carrier is said to be the second largest IPO in 2012 just right behind one of Facebook Inc., which debuted also this year. In addition, the relisting of Japan Airlines Co. is an example of the fastest corporate turnarounds in Japan so far!
On 18th of September American Airlines informed that it had notified approximately 11,000 workers that they could lose their jobs as a part of the company’s bankruptcy reorganization. According to Bruce Hicks, spokesman for American Airlines, the company, however, expects job cuts to be closer to 4,400. In addition, flights were cut by one to two percent for the rest of the September and October.
FedEx Corp.’s shares dropped roughly 3 percent in after-market trading as the company, which is the world’s largest express parcel service by revenue, informed about cutting outlooks on earnings for its just-completed first quarter. The earnings forecasts have been cut by FedEx, citing “weakness in the global economy.” The company projected its first decline in three years after the sluggish economy has hurt demand for express packages.
Qantas Airways Ltd. has announced that it signed a 10-year partnership deal with Emirate Airlines to boost the Australian airline’s international division. The Qantas – Emirates deal regards replacing Singapore with Dubai as the stopover point for European services of the Australian flagship carrier. Moreover officials of those two companies have informed that carriers will align ticket process and flight schedules.
Delta Air Lines considers a purchase of a cheaper North Dakota crude oil to satiate its new refinery located near Philadelphia, instead of buying more expensive overseas crude oil. Delta Air Lines hopes that the North Dakota oil crude will enable the company to get approximately 80 percent of its jet fuel domestically. The purchase of Bakken crude oil would boost Delta Air Lines savings on making jet fuel.
Baidu Inc., which is China’s dominant search engine, has informed that it plans to invest approximately 10 billion yuan, or $1.6 billion, in a cloud computing centre. In addition, the company is creating a Baidu’s mobile browser to help secure its share in a mobile Internet market.
Aer Lingus is satisfied with the investigation started by European competition regulators regarding into Ryanair’s €700m (£556m) hostile takeover bid for its fellow Irish airline. The probe was initialized on concerns that the takeover of Aer Lingus might eliminate competition on several routes in Europe.
Philippine Airlines informed that it had signed a $7 billion contract to buy 54 Airbus jets as part of modernization program to meet higher demands for transporting both passengers and cargo in Asia, the Middle East and Australia. Moreover Philippine Airlines, the country's largest full-service carrier, announced that it planned to buy dozen more planes. Airbus won the $7 billion contract, beating Boeing Co. despite the U.S. support for Manila in a diplomatic dispute with the People’s Republic of China.
The global nature of the food industry at present is such that everything seems to be connected. This is evident from the fact that harsh storms along off the coast of Peru have resulted in a considerable rise in the price of oily fish which in turn is likely to affect the demand of Scottish farmed fish in a positive way along with Chinese pigs as well as Omega 3 tablets in Barratt and Holland.
The month of July proved to be a time of crisis as Japan exports took the greatest slump in a period of over six months as exports to Europe, which is currently burdened with debt, and exports to China, suffering from a slow growth rate, fell considerably. This resulted in growing fears regarding the global demand following a chain of disappointing trade reports from the export engines present in the continent of Asia.
The risk analysis organization, Maplecroft, has shown through a series of studies that the risk of natural disasters such as tropical cyclones, flooding and earthquakes, threatening to disrupt supply chains is much higher in ten countries, among which are included the Philippines, India, Myanmar, Vietnam and Bangladesh. Other countries in the list are Haiti, Honduras, Laos and the Dominican Republic.
It seems as if IAG or International Airlines Group is deliberating whether or not to purchase an American Airlines minority stake in order to increase their commercial bond and make sure that the United States carrier retains its position as a division of Oneworld, the international airline alliance. The chief executive of IAG, Willie Walsh, reportedly claimed that investing in a minor stake in America would provide them with the opportunity to strengthen the membership of the US carrier in Oneworld, the association with which his group is also affiliated.
Groupon Inc., online shopping giant, on Monday published its quarterly profit as its shares dropped by nearly 20 percent due to revenue miss and investors’ concern over growth in the next months. Groupon’s shares lost almost a fifth of their value because revenue missed estimates due to economic situation in Europe. Although the company’s second-quarter earnings doubled expectation, shareholders concentrated on revenue miss and punished the stock.