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Prepare for more cancellations: SpiceJet runs short of planes for scheduled flights

Mar 27, 2015 at 15:23 | Source: FirstPost

Low-cost carrier SpiceJet will have to cancel more than a fifth of its planned daily flights if it cannot reach an agreement with its lessors to bring in more aircraft by the end of this month, a company spokesman said.SpiceJet, which cameBoein close...

Air India has certain social obligations; govt won't privatise it now, says minister Mahesh Sharma

Mar 27, 2015 at 09:32 | Source: FirstPost

The Civil Aviation Ministry on Thursday ruled out any immediate plan to hand over Air India to a private entity and said a group of experts would soon be set up for advising the government on a revival roadmap for the loss-making airline."At pre...

No immediate plan to privatise Air India: Mahesh Sharma

Mar 26, 2015 at 22:43 | Source: FirstPost

New Delhi: Civil Aviation Minister Mahesh Sharma on Thursday ruled out any immediate plan to hand over Air India to a private entity and said a group of experts would soon be set up for advising the government on a revival roadmap for the loss-making...

Greek and German leaders meet amid cash shortage fears

Mar 23, 2015 at 10:47 | Source: BBC

Greek Prime Minister Alexis Tsipras is due to meet German Chancellor Angela Merkel amid mounting concern that Athens is running out of money. The two countries have been at odds over Greece's efforts to renegotiate the terms of its international...

Greek and German enmity makes bailout deal tough

Mar 23, 2015 at 10:47 | Source: BBC

I'm very, very sad, says Aris Meliadis. The situation is unbearable. We are in a dimly lit community centre in East Berlin where Aris conducts weekly rehearsals with his choir of Greek and German singers. All around us people are shuffling shee...

Merkel sets strict terms for Greek aid, Juncker flags EU cash

Mar 21, 2015 at 02:30 | Source: FirstPost

BRUSSELS (Reuters) - European Union leaders welcomed a pledge on Friday from Greece to meet creditors' demands for a broad package of economic reform proposals within days to unlock the cash Athens needs to avoid stumbling out of the euro zone.After ...

Athens pledge, cautious Fed soothes Europe's investors

Mar 21, 2015 at 01:30 | Source: FirstPost

LONDON (Reuters) - The euro nudged towards its best week in 18 months while yields on low-rated bonds fell as investors welcomed the Fed's cautious approach to raising interest rates and a reform pledge from Athens that could avert a cash crunch.Illu...

Concerned over its financial health, PMO seeks report from Air India

Mar 20, 2015 at 19:42 | Source: FirstPost

New Delhi: Concerned over the overall health of Air India, the Prime Minister Office (PMO)'s has asked the national carrier to submit a detailed performance report on its losses, profitability and revival plan.The PMO sent a questionnaire to Air Indi...

TSB agrees £1.7bn takeover by Spain's Sabadell

Mar 20, 2015 at 16:27 | Source: BBC

TSB - the bank formerly owned by Lloyds - has agreed to a £1.7bn takeover by Spanish bank Sabadell. The takeover of the UK bank comes less than a year after it rejoined the stock market when Lloyds Banking Group sold off 50% of the business. Sabadel...

Fed-induced rally peters out: Asia stocks fall, dollar steadies

Mar 20, 2015 at 11:48 | Source: FirstPost

Asian stocks stalled on Friday as Federal Reserve-inspired gains petered out, while the dollar steadied after rebounding from the shock of a surprisingly dovish US central bank.MSCI's broadest index of Asia-Pacific shares outside Japan edged down 0.1...

Greek PM demands EU stop 'unilateral actions' as tensions flare

Mar 20, 2015 at 02:30 | Source: FirstPost

ATHENS/BERLIN (Reuters) - Greek Prime Minister Alexis Tsipras lambasted European partners on Wednesday for criticising a new anti-poverty law hours before it was voted on, saying it was the euro zone rather than Athens that must stop "unilateral...

Germany riot targets new ECB headquarters in Frankfurt

Mar 18, 2015 at 22:07 | Source: BBC

Dozens of people have been hurt and some 350 people arrested as anti-austerity demonstrators clashed with police in the German city of Frankfurt. Police cars were set alight and stones were thrown in a protest against the opening of a new base for th...

No more Blue Banana, Europe's industrial heart moves east

Mar 15, 2015 at 15:30 | Source: FirstPost

BRUSSELS (Reuters) - Once depicted as a "Blue Banana" stretching from Manchester to Milan, Europe's industrial heartland has moved eastwards just as its political centre of gravity has shifted to Germany.The term was coined in 1989 - the ye...

Greek defence minister - If Greece leaves euro zone, Spain and Italy would be next: Bild intv

Mar 14, 2015 at 06:45 | Source: FirstPost

BERLIN (Reuters) - If Greece were to leave the euro zone, Spain and Italy would also end up quitting the common currency bloc, Greek Defence Minister Panos Kammenos told German newspaper Bild in an interview to be published on Saturday.If Greece expl...

Coeure says ECB's QE programme kicks off without a hitch

Mar 13, 2015 at 02:45 | Source: FirstPost

PARIS (Reuters) - The European Central Bank's quantitative easing programme has kicked off without a hitch, ECB executive board member Benoit Coeure said on Thursday, adding that the central bank had no problems in finding bonds to buy. The ECB has b...

TSB confirms £1.7bn takeover move by Spain's Sabadell

Mar 12, 2015 at 18:37 | Source: BBC

TSB has confirmed it has received a £1.7bn takeover approach from Spanish bank Sabadell. The approach to the UK bank comes less than a year after it rejoined the stock market after Lloyds Banking Group sold off 50% of the business. TSB said its boar...

Standalone TSB picks up customers

Mar 12, 2015 at 18:37 | Source: BBC

Newly independent TSB says it is attracting more new customers than it had expected. The bank, which was spun off as a separate business by Lloyds Banking Group in June, said nearly one in 10 new bank account customers in the UK were choosing TSB. TS...

TSB hails 2014 as 'pivotal year' as it grows accounts

Mar 12, 2015 at 18:37 | Source: BBC

TSB Banking Group has hailed 2014 as a pivotal year as it claimed an 8.4% share of all people switching or opening a new bank account. The bank, which was spun off as a separate business by Lloyds Banking Group in June, said 500,000 new bank accounts...

Credit Suisse poaches Prudential's Thiam for Asian push

Mar 10, 2015 at 23:45 | Source: FirstPost

ZURICH/LONDON/HONG KONG (Reuters) - Credit Suisse has swooped on Prudential boss Tidjane Thiam to lead the Swiss bank in a push to manage more of the wealth held by Asia's fast growing club of multi-millionaires.Thiam, a 52-year-old former Ivory Coas...

Corrected: Credit Suisse to replace long-standing CEO Dougan - sources

Mar 10, 2015 at 10:15 | Source: FirstPost

(Corrects year in paragraph two to make clear Thiam has led Prudential since 2009)By Joshua Franklin and Lisa JuccaZURICH/HONG KONG (Reuters) - Long-standing Credit Suisse boss Brady Dougan is set to quit as chief executive of the Swiss bank as soon ...

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