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Iberia chairman Fernando Conte says merger with BA will take longer than first planned

Iberia has delayed its planned merger with British Airways after reporting a €92.6 million (£83 million) first-quarter net loss and warning that it was unlikely to make a profit this year.

Greater Manchester to get £1.4bn for transport after all

Greater Manchester’s transport chiefs have agreed a £1.4bn transport funding deal which will allow them to embark on most of the transport improvements proposed under the region's defeated congestion charging plans.

Wednesday, 13 May 2009

BBC News

  • Tram line extension is approvedThe Greater Manchester tram line is to be extended in to Oldham and Rochdale as part of an £84m scheme.
  • Charge to reserve seats on trainsNational Express is to charge £2.50 for reserving a single, or £5 for a return ticket, from this weekend on its East Coast and East Anglia franchises. The Transport Salaried Staffs Association said the move was "outrageous" and warned it could spark abuse against booking office staff.
  • Downturn pushes Nissan into lossJapanese carmaker Nissan reports a net loss for the past year, but the results are better than expected.
  • Spain stimulus targets car buyersSpain's prime minister announces new economic stimulus measures, including subsidies for people who buy new cars.
  • Hitachi posts record annual lossElectronics maker Hitachi reports a record annual loss by a Japanese manufacturer, after a drop in demand for its products.

Financial Times

  • Braemar Shipping posts record earningsThe shipbroking group announces a record £16.2m in pre-tax profits for the full year and delivers positive business prospects in spite of deteriorating market conditions
  • Iberia unveils further capacity and job cutsSpanish airline Iberia announces capacity and job cuts as it became the latest airline to report heavy first-quarter losses
  • Nissan reports Y234bn year lossNissan Motor reported a Y234bn loss for the financial year to March and warned of more red ink this year, though it predicted that cost cuts would return it to profit in 2010
  • Maersk container line loses $555mAP Moller-Maersk could be facing its first full-year loss after its Maersk Line container shipping business lost $555m in the first quarter
  • 'Pay-as-you-go' puts Stobart in fast laneStobart, the trucking company famous for its green Eddie Stobart livery, said underlying profits surged last year as the recession forced retailers to find cheaper distributors

The Guardian

  • Ten of the best railway cafesBritain's station cafes may have left a bad taste in rail minister Lord Adonis's mouth recently, but not all railway buffets have hit the buffers. Rail experts pick their favouritesThere's a running joke in the film Brief Encounter in which Myrtle, the station buffet manageress, consistently asserts that her sandwiches and rolls are fresh when all the evidence points to them being stale. The joke about British rail sandwiches curling up like dead men's toes ran on and on for decades. Last week, following his much publicised tour of the British rail network, rail minister Lord Adonis put the bo...
  • General Motors shares plummetAiling US carmaker sees shares collapse after top executives dump personal stock holdingsThe ailing US carmaker General Motors saw its shares collapse to their lowest level since the Great Depression after six top executives dumped personal stock holdings, fuelling fear of imminent bankruptcy.As GM and the Obama administration continued to plead with reluctant lenders to write off much of the company's $27bn (£18bn) in debt, the shares dived by 29 cents to close at $1.15 , valuing the largest of Detroit's motor manufacturers at barely $700m.At one point, GM's shares fell as low as $1.09, thei...

The Herald

  • Network Rail misses target for reducing disruptionNational Rail has missed its annual target for reducing disruption on Scotland’s railways as a combination of bad weather and problems with an £85m signalling upgrade between January and March pushed up the level of delays seen on the network.

The Scotsman

  • Rail operator sparks outrage over plan to charge for reserved seatsONE of the main Scotland-London train operators has incurred the wrath of ministers by charging passengers to reserve seats, The Scotsman has learned. The move by National Express East Coast was also condemned by passenger watchdogs and experts, who said it would harm the image of the rail industry by introducing airline-style "hidden charges".

The Telegraph

  • Stobart lifts revenue on more cheap cargoThe group, which runs port, air and rail transportation businesses, said it had offset the downturn in Asian imports by minimising empty space in its lorries and increasing the use of high-volume trains to transport goods.

Times Online

Reuters News

  • Singapore NOL falls 4.9 pct after big Q1 lossSINGAPORE, May 13 (Reuters) - Shares of Singapore's Neptune Orient Lines , the world's seventh-largest container shipper, fell as much as 4.9 percent on Wednesday after the firm reported on Tuesday a bigger-than-expected quarterly loss.

Daily Express

Network Rail

Transport Briefing

Belfast Telegraph

Edinburgh Evening News

Liverpool Echo

Manchester Evening News

  • Transport plans revealedSneak preview of today's newspaper story. The opposition council leaders are keen to stress that the government isn't providing new money - simply letting Manchester borrow and bring forward payments for which they would otherwise have had to wait many years. In other words, they don't want Geoff Hoon taking all the credit for a locally-conceived, locally-brokered deal.

The News (Portsmouth)

The Press and Journal (Aberdeen)

The York Press

Yorkshire Evening Post

Northants Evening Telegraph

Peterborough Telegraph

  • Rail firm condemned over reservation chargeA fresh row over rail fares has flared after it was revealed that a leading train company is considering charging customers who want to reserve a ticket on its East Coast and

Washington Post

Chartered Institute of Logistics and Transport

  • New EU legislation frees up process of purchasing vehiclesFrom this month, buying a new vehicle becomes easier within European Union (EU) member states, it has been announced.New EU legislation has come into force that reduces the burden of administration on people choosing to purchase a model in a different country and allows the free circulation of cars."As of today, citizens have less paperwork and fewer procedures to follow if they buy a new vehicle in another EU member state," a statement read.The rules apply to all new vehicles granted European approval from April 29th 2009 and a Certificate of Conformity - which includes envi...

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