Outlook: P&O cruises
Wednesday 23 June 1999
P&O calculates that by 2010 the number of Americans aged between 50 and 59 will have doubled to 40 million. With their pension plans in place and their disposable income rising on the back of an extraordinary bull market, each and every one is a potential customer for one of the floating hotels that P&O is having built.
The significance of P&O's latest pounds 1.25bn order for five new luxury cruise ships cannot be underestimated. By the time the fleet expansion is complete, P&O will have enough berths to cope with a moderately-sized refugee crisis, provided they are the sort of refugees who can afford $2,000 for a ten- day cruise in the Caribbean.
The shape of P&O will also have changed out of all recognition. Property, the construction arm Bovis and Earls Court will all be gone along with P&O's container interests. In its place will be a leisure company with 75 per cent of its profits generated from transporting ageing Americans around the Bahamas.
A sharp correction on Wall Street could burst Lord Sterling's bubble as could a decision to make the elderly pay for more of their health care. But right now the shares are riding the crest of a wave.
- 1 The black and blue dress: Makers considering a white and gold version
- 2 Man to be beheaded in Saudi Arabia after ripping up a Koran and hitting it with his shoe
- 3 Husband and wife die holding hands within hours of each other after 67 years of marriage
- 4 PornHub turns masturbation into energy in bid to save the planet
- 5 The remarkable archaeological underwater discovery that could open up a new chapter in the study of European and British prehistory
Stephen Hawking's wife Jane Wilde on their marriage breakdown: 'The family were left behind'
British are sexually uptight, dirty and drink too much – according to Spanish book
PornHub turns masturbation into energy in bid to save the planet
White and gold or blue and black – what colour is the dress? An eyewitness gives a definitive answer
Kelly Osbourne leaves Fashion Police after Zendaya dreadlocks racism row
New theory could prove how life began and disprove God
This is what it's like to be dead, according to a guy who died for a bit
'Cash for access' scandal: Sir Malcolm Rifkind says 'unrealistic' for MPs to live on £67,000 salary
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Ukip would cut billions from Scottish budget to fund English tax cuts
Russia's roadmap for annexing eastern Ukraine 'leaked from Vladimir Putin's office'
iJobs Money & Business
£40000 - £50000 per annum + pro rata: SThree: SThree Group have been well esta...
£30000 - £37000 per annum: Recruitment Genius: Established in 1999, a highly r...
£250-£300 Day Rate: Jemma Gent: Are you a qualified accountant with strong exp...
£230 - £260 Day Rate: Jemma Gent: Do you want to stamp your footprint in histo...