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Andrew Feinberg
White House Correspondent
Aston Martin gets £200m war chest
Aston Martin has raised £200m in an equity issue backed by its major shareholders, to fund its expansion into crossovers. The 102-year old company, James Bond’s car maker of choice, also said it expected the market to remain strong this year as it posted revenues of £468m and underlying earnings of £66m for 2014.
Activists call for Menzies break up
The Swiss activist investor Lakestreet Capital has called for a break-up of John Menzies, the aviation services and newspaper distribution business, after building up a stake above 3 per cent. The fund said it was “dramatically undervalued” and could be worth about 675p a share. The shares rose 27.5p to 390p
Sainsbury’s sheds IT positions
Sainsbury’s quietly scrapped 240 jobs in its IT department at the same time as announcing that 800 staff would be axed from stores, just two weeks after David Cameron visited the supermarket’s warehouse and computer hub to help launch his election bid. The roles will be outsourced to Tata Consultancy Services.
Thameslink hits Go-Ahead margins
Go-Ahead Group has warned that its Thameslink rail line is costing more to run than expected as it tackles “inherited challenges” that will hit profit margins in the short term. Commuters on the route, run by Go-Ahead with Keolis since last year, have been hit by delays and cancellations as London Bridge station is upgraded.
Qatar in £4bn French jet deal
The Gulf state Qatar has agreed to buy 24 Rafale fighter jets built by France’s Dassault in a €6.3bn (£4bn) deal. Analysts said, however, the deal could mean the United Arab Emirates favour buying the Eurofighter Typhoon, built by BAE, Airbus and Finmeccanica, instead of Rafale jets.
Jobless claims at 15-year low
The number of Americans filing new claims for jobless benefits tumbled to a 15-year low last week and consumer spending rose in March, signs the economy is regaining momentum after stumbling badly in the first quarter. There was also a solid increase in wages in the first quarter.
Eurozone moves out of deflation
The eurozone ended four months of deflation in April, removing the threat of persistent price declines as energy costs pushed up in the month. Consumer prices in the single currency area were flat in April from a year earlier after a 0.1 per cent decline in March.
Spain hits fastest growth since 2007
Spain’s economy expanded at its fastest pace in more than seven years at the start of 2015, setting it firmly on course to meet a new 2015 growth target of 2.9 per cent. Output expanded by 0.9 per cent in the first quarter, spurred by a pick-up in household spending.
Germany blocks bonus award
Germany has blocked an attempt by Commerzbank to pay bankers’ bonuses worth up to twice their basic pay. The goverment used its 17 per cent at the bank’s annual meeting to reject bonus payments, which require shareholder approval.
Sony profit surges despite hacking
Sony put woes including an embarrassing hacking episode at its US film business behind it as it predicted a surge in profits to £1.7bn this year. It took a £27m charge following the cyber-attack, attributed to North Korea, on Sony Pictures.
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