IAG to buy Boeing's Dreamliners for £2.6bn to upgrade British Airways fleet

Written on:April 4, 2013
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IAG to buy Boeing Dreamliners

Dreamliners” battery problem does not hinder IAG deal

IAG has announced that it would buy 18 Boeing Dreamliners for British Airways despite the battery problems that plagued the Dreamliner aircraft over the past few months. In a deal worth $4bn (£2.6bn), IAG sought Boeing to upgrade the fleet of planes at its subsidiary British Airways. The glitch in the deal is that it would be considered only when Iberia would have restructured and reduced its cost base and is in a position to grow profitably. IAG and Spanish airline Iberia said the new long-haul planes will replace some of its jumbo jets. The latest Boeing Dreamliners” deal comes on top of existing request by British Airways for 24 of the 787 planes. Speculations are also doing the rounds that IAG may place an order with Airbus for its A350 planes, taking the rivalry between Boeing and Airbus to a new height.

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Online banking: 5 best savings account rates for 2013

Written on:April 4, 2013
Online banking

Online banking, also known as e-banking or internet banking, is the process of conducting financial transactions over internet with the help of a secure website that is being operated by a virtual bank, retail bank, building society or a credit union. There must be proper registration that the customer has to follow on the financial institutions website for accessing the services of online banking. Online banking isn’t only provided by traditional…

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Barclays Salz review blames bank’s pay culture for despotic functionality

Written on:April 3, 2013
Barclays Salz review

Barclays has come under fire once again after a 244-page report by Anthony Salz, the lead reviewer commissioned by the bank in the wake of the Libor rigging scandal last July, who blasted the bank for its high-handed attitude resulting from its pay culture. The Salz review was compiled after 600 employees of Barclays were interviewed. Following the revelations, Anthony Salz, a lawyer and investment banker called on Barclays to strengthen its…

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AstraZeneca acquires AlphaCore Pharma to work on cardiovascular medicine

Written on:April 3, 2013
AstraZeneca works to find cure for cardiovascular diseases

AstraZeneca has acquired AlphaCore Pharma, a US-based biotechnology company, which is currently developing a new type of cholesterol medicine. The acquisition was made through AstraZeneca’s MedImmune unit. The financial details of the deal were not disclosed.The British drugmaker’s new chief executive Pascal Soriot had earlier stated that AstraZeneca would be taking on more scientific risks by betting on a new and still unproven approach to cardiovascular medicine under AstraZeneca’s restructuring plan which will also see…

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SSE pays largest fine of £10.5m for mis-selling energy to customers

Written on:April 3, 2013
SSE pays hefty fine

SSE has been slapped with a whopping £10.5m fine by Ofgem, the UK energy regulator, for mis-selling gas and electricity to customers. The fine is the largest ever imposed on an energy supplier by Ofgem. In a report, the UK regulatory revealed that SSE had failed customers with misleading sales practices which had lead to “prolonged and extensive mis-selling” by the energy supplier between 2009 and 2011.

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Health insurance: 5 companies for best private medical covers

Written on:April 3, 2013
Insurance claim form

When it comes to healthcare needs of the individuals it is quality cover that has comprehensive features which matters and hence many people prefer the private health insurance companies to meet their requirements. However as inflation is being outpaced by premiums resulting in shrinking the choice of the insurer it signifies some tough times for those even on the private health insurance card. The five companies that offer the best…

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Virgin Atlantic mulls joint venture talks with Air France-KLM

Written on:April 3, 2013
Virgin Atlantic Air France-KLM talks

Virgin Atlantic is likely to hold talks regarding a joint venture with Air France-KLM and Alitalia which would give the Richard Branson-owned carrier to increase its number of flights to Asia, the Middle East and Africa. The move signals Virgin Atlantic’s efforts to return to profitability with major changes to its business model which is likely to take away much of its independence which the carrier thrives on. Recently, Virgin Atlantic…

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Twitter for Business relaunched with more content on best marketing practices

Written on:April 2, 2013
Twitter for business relaunch

Twitter for Business is back! The social networking site relaunches its business site with fresh content and new video, which aim to help businesses learn how to build on their presence on Twitter. Twitter for Business is an online resource for businesses to learn the best practices in incorporating Twitter into their marketing efforts. Online lessons offered by Twitter include everything from mastering the basics and building community to how to use Twitter…

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Future Publishing’s Classic Rock, Metal Hammer sold to TeamRock for £10.2m

Written on:April 2, 2013
Aerosmith record

Future Publishing’s Classic Rock and Metal Hammer magazine brands have been sold to a new company called TeamRock headed by former GMG Radio chief executive John Myers. The £10.2m sale includes Future magazines’ two brand extensions such as ‘The Golden Gods’ and ‘The Classic Rock Roll of Honour’ and associated periodicals Prog and AOR. John Myers is the executive chairman of TeamRock, which will create and distribute content to cater needs of…

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Vodafone stocks rise 5.4% as Verizon, AT&T merger rumours resurface

Written on:April 2, 2013
Vodafone stocks rise

Vodafone lead the UK stock market higher today rising 5.4% to reach 196.65p, with the reprise in rumours of Verizon Wireless and AT&T merger and acquisition activity. According to Financial Times, Verizon and AT&T have been working on a ‘share break-up bid’, valuing Vodafone at 260p per share, around $245bn (£160.87bn). This deal would surpass AOL and Time Warner’s $165bn (£108bn) merger, and even Vodafone AirTouch’s acquisition of Mannesmann AG for $202.8bn (£133bn)…

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