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Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...

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Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

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Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

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Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...

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UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...

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Pilotless flight success over UK

Category : Business

A BAE Systems aircraft flies without a pilot in UK airspace shared with passenger flights for the first time.

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easyJet Plc (ESYJY: OTCQX International Premier) | April traffic stats

Category : Stocks

7 May 2013



Month ending

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Global air travel ‘rises by 5.9%’

Category : Business, World News

The International Air Transport Association (Iata) says air passenger travel grew by 5.9% in March compared with a year earlier, boosted by emerging markets.

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Virgin seeks east coast mainline rail deal that could cost public dear

Category : Business

The government-run route is to be auctioned and Richard Branson has his wallet ready. But the line needs major improvements – so taxpayers should expect a big bill

A City worker catching an early train on 14 September 2007 from Edinburgh to London via Newcastle, home of the head office of a certain bank, would have passed the three great sites of British financial mismanagement even before the era-defining run on Northern Rock began that day. It’s not purely coincidental that as the crisis grew and taxpayers’ billions rescued Royal Bank of Scotland and Lloyds, the banker’s route would also become a bailed-out railway line.

Just a month earlier, a new private operator, National Express, had won the right to operate the east coast mainline service with an eyebrow-raising bid, widely seen as the kind of overloaded punt businessmen and bankers were fond of taking at the time.

Anticipating demand that would never appear as a new economic reality bit, by 2009 National Express East Coast had collapsed under the weight of its £1.4bn offer – following in the footsteps of the previous incumbent, GNER, which had reneged on a £1.3bn contract. Like RBS, Lloyds and Northern Rock, the east coast line was nationalised.

Now the franchise, after its spell in the hands of East Coast, a subsidiary of the government’s holding company Directly Operated Railways (DOR), is to be returned to the private sector. Transport secretary Patrick McLoughlin prioritised an auction of the line in the new franchising timetable drawn up after the west

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Passenger train carrying nearly 200 people derails near Oakland; Amtrak says … – Houston Chronicle

Category : Stocks

Passenger train carrying nearly 200 people derails near Oakland; Amtrak says
Houston Chronicle
SAN FRANCISCO (AP) — Passenger train carrying nearly 200 people derails near Oakland; Amtrak says no injuries. Comments (0)

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Japan carmakers to recall 3.4m cars

Category : Business, World News

Japan’s top four carmakers are recalling a total of 3.4 million cars over a defect in passenger airbags.

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Emirates’ concourse for A380s is another staging post on new Silk Road

Category : Business

While the debate rages about airport expansion in Europe, the ambitious Gulf hubs are growing fast – and look set to become the global interchanges of the future

Multiplying lanes, stretching runways and new terminals in the sands may not be everyone’s idea of making the desert bloom. But in Abu Dhabi, where the aviation industry has grown up almost as spectacularly as the skyscrapers on the shoreline, the sheikhs who bankrolled the towering investment do not doubt that the fruits will come.

While London’s great and good grapple with the question of airport expansion, the world beyond is changing, as those running Britain’s biggest airport and airline know all too well – frequently expressing their frustration that rivals are “eating our lunch” and leapfrogging them to aviation’s top spot.

The announcements last week that Etihad Airways – based in Abu Dhabi – was splurging $70m (£47m) to secure three Heathrow slots, while British Airways saw its profits wiped out and its parent company, IAG, record a near-€1bn (£863m) loss, will not have made them much happier.

“In aviation,” says Jos Nuihuis, the boss of Amsterdam’s Schiphol airport, mischievously enjoying his role as the current chief beneficiary of Heathrow’s inability to build another runway, “you have to take the chance when it’s your

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Notice of Results

Category : World News


22 January 2013

                                                AVATION PLC
                                       ("AVATION" or the "COMPANY")
                                             Notice of Results

Avation  PLC  (LSE:  AVAP),  the commercial passenger aircraft leasing company will  announce  its  interim
management report for the six months ended 31 December 2012 on 11 F

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America joins Japan in grounding Boeing 787 Dreamliners

Category : Business

Influential US regulator the FAA joins Japan in taking troubled planes out of service, followed by India and Chile

American regulators followed the lead of Japanese airlines by grounding the Boeing 787 Dreamliner on Wednesday night, saying a recent series of safety incidents meant urgent action was needed.

The US Federal Aviation Administration (FAA) said it would require airlines to demonstrate that the plane’s cutting-edge batteries were safe before allowing further flights. It has notified regulators in other countries of its action.

Japan’s two leading airlines, All Nippon Airways (ANA) and Japan Airlines, had already grounded their fleets of Boeing 787s after one of the Dreamliner passenger jets made an emergency landing, the latest in a series of incidents that have heightened safety concerns over a plane that many see as the future of commercial aviation.

After the FAA announcement, India and Chile were the next countries to move. Air India spokesman K Swaminathan said India’s aviation authority had directed the state airline to stop flying the Boeing planes on Thursday morning as it waits for an investigation by Indian regulators to take place. “Air India has temporarily ceased operation of its Dreamliners,” Swaminathan said.

Chile’s LAN airline said it was suspending flights of its three Dreamliners in compliance with the FAA directive.

The European Aviation Safety Agency (EASA) and other air safety authorities around the world are likely to bring in similar measures now that the FAA has intervened. A spokesman for EASA told the Reuters news agency that it would usually follow safety directives if they were issued in a country where the aircraft was built. “In this case we have issued no airworthiness directive so far, so the FAA’s directive should be endorsed by EASA,” the spokesman said.

In one show of faith, Poland’s LOT airlines sent one of its two Dreamliners on its maiden transatlantic flight from Warsaw to Chicago, to the reported disquiet of some passengers interviewed. LOT is the only airline within the jurisdiction of EASA that has taken delivery of the 787 so far.

Other countries whose airlines use the 787 are Ethiopia and Qatar.

ANA said instruments aboard a domestic flight indicated a battery error, triggering emergency warnings. The incident was described by a transport ministry official as “highly serious” – language used in international safety circles as indicating that there could have been an accident. Boeing shares fell 2% in after-hours trading to $72.80 (£45.50) after the FAA announcement.

Its move came as American safety investigators were due to fly to Japan on Thursday to liaise with Japanese counterparts.

ANA and Japan Airlines have 24 Dreamliners between them, representing almost half of the 50 delivered by Boeing to airlines worldwide. Last week the FAA announced a full review of the revolutionary plane’s design and manufacture after five incidents in five days on different planes in Japan and the US. These included a battery fire, fuel leakages from engines, and cracks developing in the cockpit windscreen.

Given the Dreamliners’ significantly greater fuel efficiency than most models, airlines have been queuing up to buy a model that promises greener, quieter – and cheaper – aviation.

The aircraft’s design also makes emerging long-haul destinations feasible with fewer passengers. In Britain, British Airways, Thomson and Virgin have placed orders, with BA expecting to operate the first of its 24 Dreamliners this year.

Production problems drastically held up delivery of the aircraft: it first entered service in late 2011, four years after the first 787 was unveiled. Issues have since been reported with the plane in India and Qatar. While analysts say such “teething problems” are not uncommon, Boeing will be acutely aware that rival Airbus has the new A350 coming to offer an alternative for airlines updating their fleets.

Aviation consultant John Strickland said: “This story is going to run on for Boeing. The key thing is that the Dreamliner 787 is so leading edge.”

The Seattle-based manufacturer may be facing a repair bill to rival the £200m costs Airbus incurred as a result of cracks in the wings of the A380 in 2011. : “Boeing is aware of the diversion of a 787 operated by ANA to Takamatsu in western Japan. We will be working with our customer and the appropriate regulatory agencies.”

Passengers evacuate 787 Dreamliner after emergency landing – video

Category : Business

Passenger video shows people on board an All Nippon Airways flight heading for the exits, down the emergency slides and away across the tarmac after the dramatic emergency landing of a Boeing Dreamliner in Japan

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