Business and City in brief

BA alliance row to escalate

The row over British Airways' proposed dollars 750m (pounds 384m) alliance with USAir will reach new heights as airline executives meet at the World Aerospace and Air Transport Conference in London.

Lawrence Nagin, vice-president of United, said the BA link with USAir was in violation of US law. It would require legislative changes and should be used as a lever to liberalise the air agreement between Britain and the US.

Orion out

Orion Insurance, part of the Dutch company Internationale Nederlanden Group, has withdrawn from insuring large international risks in London.

KLM rise

KLM Royal Dutch Airlines plans to raise the number of flights worldwide in its winter schedule by 31 per cent, or 220 per week, from 25 October.

Units sold

Investors redeemed nearly pounds 142m more unit trusts than they bought in July, according to the Unit Trust Association. This was the industry's worst month since the start of hostilities in the Gulf.

BAe venture

British Aerospace, Dassault Aviation and Deutsche Aerospace have formed a consortium including Alenia, Fokker and Casa of Spain to develop a maritime patrol aircraft, the companies said jointly.

Bannon goes

John Bannon has resigned as head of the South Australian government, saying he accepts responsibility for huge losses by the State Bank of South Australia. The Labor government has injected Adollars 3.1bn into the bank to make good the losses.

German sales fall

West German wholesale sales totalled DM82bn in July, down 1 per cent on a year earlier, but up 1 per cent after taking account of inflation, the Federal Statistics Office said.

HK funds plan

China has suggested that Hong Kong raise funds for the rail link in its new airport project by selling adjoining lands estimated to be worth HKdollars 42.5bn, according to a Chinese source quoted by Ta Kung Pao daily.

Ansbacher talks

Henry Ansbacher Holdings confirmed that it was in talks with First National Bank Holdings of South Africa regarding a possible offer for HAH.

Gas purchase

A European consortium including British Gas and German and French gas producers has bought an eastern German company that was Eastern Europe's leader in gas research.

Butlins bookings

UK bookings at Butlins, The holiday camp group owned by Rank Organisation, are expected to be 'less than 12 per cent down', the company said.

World Markets

New York: Stronger bond prices caused a late rally, leaving the Dow Jones Industrial Average up 8.91 points at 3,266.26 at the close.

Tokyo: The market fell back after its recent gains, with a 321.06-point fall leaving the Nikkei average at 17,740.06.

Hong Kong: Active trade after the long weekend took the Hang Seng up 82.97 to 5,711.57.

Sydney: A quiet day was dominated by selling of industrial stocks. The All Ordinaries index slipped 4.7 to 1,542.5.

Johannesburg: A sharp rebound in the financial rand restricted gains on the overall index to seven points at 3,159.

Paris: With investors worried over the vote on the Maastricht treaty, the CAC-40 index fell 10.65 points to 1,674.23.

Frankfurt: A gloomy forecast for the German economy helped to send the DAX index down 22.55 points to 1,518.7.

Milan: With key stocks closing near their session lows, the MIB lost 1.56 per cent to 755.

Start your day with The Independent, sign up for daily news emails
ebooks
ebooksAn introduction to the ground rules of British democracy
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
SPONSORED FEATURES
Independent Dating
and  

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

iJobs Job Widget
iJobs Money & Business

Recruitment Genius: Content Writer - Global Financial Services

£25000 - £30000 per annum: Recruitment Genius: From modest beginnings the comp...

Recruitment Genius: Web Developer - PHP

£35000 - £40000 per annum: Recruitment Genius: From modest beginnings the comp...

Recruitment Genius: Field Sales Consultant - Financial Services - OTE £65,000

£15000 - £65000 per annum: Recruitment Genius: This is an exciting opportunity...

Recruitment Genius: Loan Underwriter

£18000 - £20000 per annum: Recruitment Genius: This is a fantastic opportunity...

Day In a Page

The Silk Roads that trace civilisation: Long before the West rose to power, Asian pathways were connecting peoples and places

The Silk Roads that trace civilisation

Long before the West rose to power, Asian pathways were connecting peoples and places
House of Lords: Outcry as donors, fixers and MPs caught up in expenses scandal are ennobled

The honours that shame Britain

Outcry as donors, fixers and MPs caught up in expenses scandal are ennobled
When it comes to street harassment, we need to talk about race

'When it comes to street harassment, we need to talk about race'

Why are black men living the stereotypes and why are we letting them get away with it?
International Tap Festival: Forget Fred Astaire and Ginger Rogers - this dancing is improvised, spontaneous and rhythmic

International Tap Festival comes to the UK

Forget Fred Astaire and Ginger Rogers - this dancing is improvised, spontaneous and rhythmic
War with Isis: Is Turkey's buffer zone in Syria a matter of self-defence – or just anti-Kurd?

Turkey's buffer zone in Syria: self-defence – or just anti-Kurd?

Ankara accused of exacerbating racial division by allowing Turkmen minority to cross the border
Doris Lessing: Acclaimed novelist was kept under MI5 observation for 18 years, newly released papers show

'A subversive brothel keeper and Communist'

Acclaimed novelist Doris Lessing was kept under MI5 observation for 18 years, newly released papers show
Big Blue Live: BBC's Springwatch offshoot swaps back gardens for California's Monterey Bay

BBC heads to the Californian coast

The Big Blue Live crew is preparing for the first of three episodes on Sunday night, filming from boats, planes and an aquarium studio
Austin Bidwell: The Victorian fraudster who shook the Bank of England with the most daring forgery the world had known

Victorian fraudster who shook the Bank of England

Conman Austin Bidwell. was a heartless cad who carried out the most daring forgery the world had known
Car hacking scandal: Security designed to stop thieves hot-wiring almost every modern motor has been cracked

Car hacking scandal

Security designed to stop thieves hot-wiring almost every modern motor has been cracked
10 best placemats

Take your seat: 10 best placemats

Protect your table and dine in style with a bold new accessory
Ashes 2015: Alastair Cook not the only one to be caught in The Oval mindwarp

Cook not the only one to be caught in The Oval mindwarp

Aussie skipper Michael Clarke was lured into believing that what we witnessed at Edgbaston and Trent Bridge would continue in London, says Kevin Garside
Can Rafael Benitez get the best out of Gareth Bale at Real Madrid?

Can Benitez get the best out of Bale?

Back at the club he watched as a boy, the pressure is on Benitez to find a winning blend from Real's multiple talents. As La Liga begins, Pete Jenson asks if it will be enough to stop Barcelona
Athletics World Championships 2015: Beijing witnesses new stage in the Jessica Ennis-Hill and Katarina Johnson-Thompson heptathlon rivalry

Beijing witnesses new stage in the Jess and Kat rivalry

The last time the two British heptathletes competed, Ennis-Hill was on the way to Olympic gold and Johnson-Thompson was just a promising teenager. But a lot has happened in the following three years
Jeremy Corbyn: Joining a shrewd operator desperate for power as he visits the North East

Jeremy Corbyn interview: A shrewd operator desperate for power

His radical anti-austerity agenda has caught the imagination of the left and politically disaffected and set a staid Labour leadership election alight
Isis executes Palmyra antiquities chief: Defender of ancient city's past was killed for protecting its future

Isis executes Palmyra antiquities chief

Robert Fisk on the defender of the ancient city's past who was killed for protecting its future