Business and City in Brief

Air France job cuts backed

Air France staff voted to back a Fr20bn ( pounds 2.3bn) rescue package which will result in job cuts and a wage freeze. Christian Blanc, chairman, had threatened to resign unless the plan won staff support.

The prime minister, Edouard Balladur, has made the approval of the employees a condition for going ahead with cash injection for the ailing airline.

Sabena losses

The Belgian national airline, Sabena, made a Bfr4.5bn ( pounds 128m) loss in 1993, including a one-time charge of about Bfr1bn for restructuring costs.

Viacom denial

Shares of Viacom, the US entertainment group, rose yesterday on reports that it may sell Madison Square Garden to Nynex, the regional US telephone utility. Both Viacom and Nynex denied talks were under way.

Development cash

Small and medium-sized firms are to get an extra pounds 10m for the development of new products and processes, the trade and technology minister, Patrick McLoughlin, said. The Support for Products under Research programme, which was due to close last month, is to be extended to March 1995.

New rules

The Securities and Investments Board, the senior financial regulator, has issued rules that will implement proposed changes to the Investors Compensation Scheme. One aim is to put an end to cross-subsidisation of compensation bills between different sorts of investment firm.

Leaving Blenheim

Two directors resigned from Blenheim, the exhibitions group struggling to shake off City scepticism about its performance. The departures of Philip Soar, in charge of planning and strategy, and Michael Fletcher, managing director of Blenheim UK, follow poor results and a downbeat trading statement. The shares rose 1p to 370p.

Help ruled out

The Welsh Secretary, John Redwood, ruled out government help for Tower colliery, the last pit in South Wales which is earmarked for closure by British Coal. Miners have voted to oppose closure, rejecting an enhanced redundancy package, but British Coal said the vote was not representative of the total workforce.


New York: There were modest gains in a cautious market awaiting key inflation data. The Dow Jones average closed 14.57 points higher at 3,688.83.

Tokyo: Futures-linked selling lowered the Nikkei average 36.91 points to 19,898.08.

Hong Kong: Bargain-hunters pushed prices up almost 2 per cent. The Hang Seng added 178.55 to 9,476.77.

Sydney: With investors wary of further falls on Wall Street, the All Ordinaries slipped six points to 2,076.

Bombay: Closed (holiday).

Johannesburg: Weakness in the financial and commercial rands boosted shares, with the overall index 57 points better at 5,009.

Frankfurt: Hopes of an interest rate cut helped to push the DAX 21.99 points higher to 2,225.33.

Paris: A recovery in bonds drove the CAC-40 index up 30.51, closing at 2,145.28.

Zurich: Prices were supported by position-squaring on the futures market. The SPI rose 2.22 to 1,848.2.

London: Report, page 26.

Club legend Paul Scholes is scared United could disappear into 'the wilderness'
A model of a Neanderthal man on display at the National Museum of Prehistory in Dordogne, France
Dawkins: 'There’s a very interesting reason why a prince could not turn into a frog – it's statistically too improbable'
newsThat's Richard Dawkins on babies with Down Syndrome
Arts and Entertainment
Eye of the beholder? 'Concrete lasagne' Preston bus station
architectureWhich monstrosities should be nominated for the Dead Prize?
ebooksAn evocation of the conflict through the eyes of those who lived through it
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Quantitative Analyst (Financial Services, Graduate, SQL, VBA)

£45000 per annum: Harrington Starr: Quantitative Analyst (Financial Services, ...

Application Support Engineer (C++, .NET, VB, Perl, Bash, SQL)

Negotiable: Harrington Starr: Application Support Engineer (C++, .NET, VB, Per...

AIFMD Business Analyst / Consultant - Investment Management

£450 - £600 per day: Harrington Starr: AIFMD Business Analyst / Consultant - I...

Business Analyst Solvency II SME (Pillar 1, 2 & 3) Insurance

£450 - £600 per day: Harrington Starr: Business Analyst Solvency II SME (Pilla...

Day In a Page

Middle East crisis: We know all too much about the cruelty of Isis – but all too little about who they are

We know all too much about the cruelty of Isis – but all too little about who they are

Now Obama has seen the next US reporter to be threatened with beheading, will he blink, asks Robert Fisk
Neanderthals lived alongside humans for centuries, latest study shows

Final resting place of our Neanderthal neighbours revealed

Bones dated to 40,000 years ago show species may have died out in Belgium species co-existed
Scottish independence: The new Scots who hold fate of the UK in their hands

The new Scots who hold fate of the UK in their hands

Scotland’s immigrants are as passionate about the future of their adopted nation as anyone else
Britain's ugliest buildings: Which monstrosities should be nominated for the Dead Prize?

Blight club: Britain's ugliest buildings

Following the architect Cameron Sinclair's introduction of the Dead Prize, an award for ugly buildings, John Rentoul reflects on some of the biggest blots on the UK landscape
eBay's enduring appeal: Online auction site is still the UK's most popular e-commerce retailer

eBay's enduring appeal

The online auction site is still the UK's most popular e-commerce site
Culture Minister Ed Vaizey: ‘lack of ethnic minority and black faces on TV is weird’

'Lack of ethnic minority and black faces on TV is weird'

Culture Minister Ed Vaizey calls for immediate action to address the problem
Artist Olafur Eliasson's latest large-scale works are inspired by the paintings of JMW Turner

Magic circles: Artist Olafur Eliasson

Eliasson's works will go alongside a new exhibition of JMW Turner at Tate Britain. He tells Jay Merrick why the paintings of his hero are ripe for reinvention
Josephine Dickinson: 'A cochlear implant helped me to discover a new world of sound'

Josephine Dickinson: 'How I discovered a new world of sound'

After going deaf as a child, musician and poet Josephine Dickinson made do with a hearing aid for five decades. Then she had a cochlear implant - and everything changed
Greggs Google fail: Was the bakery's response to its logo mishap a stroke of marketing genius?

Greggs gives lesson in crisis management

After a mishap with their logo, high street staple Greggs went viral this week. But, as Simon Usborne discovers, their social media response was anything but half baked
Matthew McConaughey has been singing the praises of bumbags (shame he doesn't know how to wear one)

Matthew McConaughey sings the praises of bumbags

Shame he doesn't know how to wear one. Harriet Walker explains the dos and don'ts of fanny packs
7 best quadcopters and drones

Flying fun: 7 best quadcopters and drones

From state of the art devices with stabilised cameras to mini gadgets that can soar around the home, we take some flying objects for a spin
Joey Barton: ‘I’ve been guilty of getting a bit irate’

Joey Barton: ‘I’ve been guilty of getting a bit irate’

The midfielder returned to the Premier League after two years last weekend. The controversial character had much to discuss after his first game back
Andy Murray: I quit while I’m ahead too often

Andy Murray: I quit while I’m ahead too often

British No 1 knows his consistency as well as his fitness needs working on as he prepares for the US Open after a ‘very, very up and down’ year
Ferguson: In the heartlands of America, a descent into madness

A descent into madness in America's heartlands

David Usborne arrived in Ferguson, Missouri to be greeted by a scene more redolent of Gaza and Afghanistan
BBC’s filming of raid at Sir Cliff’s home ‘may be result of corruption’

BBC faces corruption allegation over its Sir Cliff police raid coverage

Reporter’s relationship with police under scrutiny as DG is summoned by MPs to explain extensive live broadcast of swoop on singer’s home