Saturday, 7 February 2015
Friday, 30 January 2015
Sunday, 25 January 2015
Aer Lingus 'to accept' bid from British Airways owner IAG
Irish airline Aer Lingus is set to approve a new takeover bid by
IAG, which also controls Iberia in Spain, has submitted a fresh bid - which could be approved next week - of around €2.50 (£1.87) per share.
The deal, which values Aer Lingus at about €1.3bn (£971m), could face political hurdles as the Irish government owns 25% of the airline.
The firm, in which Ryanair has a 29.8% stake, rejected two IAG bids last year.
By acquiring Aer Lingus, IAG would gain more take-off and landing slots at Heathrow Airport - valued at around £30m per pair - allowing it to operate more flights.
Aer Lingus is the fourth busiest operator at Heathrow behind BA, Lufthansa and Virgin Atlantic.
However, opposition Irish MPs have called on the Irish government to veto any takeover bid, which might cede control of the national carrier.
A senior government source told the BBC: "The issue of landing slots at Heathrow airport is crucial for the Irish government and was discussed at a parliamentary party meeting on Weds.
"You have to have flights from Dublin and Cork into a major hub and the Irish government would drive a hard bargain."
After suffering badly during the global financial crash, the Irish airline's fortunes have been improving under chief executive Christoph Mueller,who is leaving to take up the helm at struggling Malaysia Airlines.
Aer Lingus recently reported its strongest summer trading for several years, with operating profits up 19% to €112.9m (£88.5m) in the three months to 30 September.
The airline has plans to launch a new Dublin to Washington service in May, and increase services on existing transatlantic routes.
Aer Lingus is well know to IAG's chief Willie Walsh, who ran the airline between 2001 and 2005 before becoming chief executive of BA.
A spokesman for rival Irish carrier Ryanair, which has been trying to sell its stake in Aer Lingus for some time, said if it received an offer for the airline "the board will consider it".
IAG and Aer Lingus both declined to comment.
AnalysisBy Joe Lynam, BBC business correspondent
For Ryanair, any takeover of Aer Lingus by IAG is about the money, for BA it is about the landing slots at Heathrow airport, and for the Irish government it is all about jeopardising the main transport link into an island economy.
From a purely business point of view it makes sense for the deal to proceed once a decent price has been agreed.
But it will really struggle to get political blessing in Dublin - especially a year out from a general election.
The Irish Labour Party will resist the sale, while the centre right Fine Gael party will only approve it if connectivity from Cork and Dublin into what it sees as Britain's only hub airport is maintained.
The prize for BA and Iberia in owning Aer Lingus is huge.
They could open up all sorts of interesting route options for both airlines such as flights to large rapidly developing but poorly served cities in the Far East.
Ireland may fear that the Aer Lingus brand could go the same way as BMI - into the history books
http://www.bbc.com/news/business-30967346
Philippines homeless 'relocated' during Pope Francis visit
Pope Francis met with street children during his recent visit to the Philippines
The government in the Philippines is facing calls for an inquiry after it admitted relocating homeless people temporarily during Pope Francis' visit.
Social welfare secretary Corazon Soliman said that nearly 500 people were taken from the streets of Manila to an upscale resort in the outskirts.
House of Representatives member Terry Ridon called for an inquiry, saying the move was a "clearing operation".
Pope Francis arrived in the Philippines last week and left on Monday.
Mr Ridon said the government relocation scheme was "truly horrendous, given the fact that Pope Francis visited our country to - first and foremost - see and talk to the poor."
The Philippine Star said he plans to summon Ms Soliman to explain her agency's actions before lawmakers.
'Safety and orientation'
Ms Soliman said in interviews this week that the homeless families were removed shortly before the pontiff arrived on 15 January.
Many of them lived along the Manila Bay seafront, the venue for Sunday's mass which drew a record crowd of six million.
On 14 January they were taken to the Chateau Royale resort, which charges hundreds of dollars for a room per night, and returned to the capital on Monday after Pope Francis had left.
The families are now temporarily residing at government facilities in Manila, Ms Soliman said.
About six million showed up at the Manila Bay seafront for the Pope's final mass before he left
She defended the move as an effort to protect them from large crowds and crime syndicates during the Pope's visit, adding that it was part of a scheme to eventually move them to rent-free temporary accommodation.
"Part of the orientation is to familiarise themselves with a room with a door and toilets," Soliman told the AFP news agency.
She insisted it was "not for keeping them out of sight", and said the Pope saw shanties and homeless people during his trip.
The controversy comes after reports that street children had been rounded up and put into cages in detention centres, which the government has denied.
Pope Francis had made poverty one of the central themes to his visit, calling for mercy and compassion for the poor and meeting and hugging street children.
http://www.bbc.com/news/world-asia-30946059
Greek election: Anti-austerity Syriza battles New Democracy
he BBC's Mark Lowen went to a polling station at a primary school in Athens
Nearly 10 million people are eligible to cast their votes
Syriza leader Alexist Tsipras says he will restore "dignity" to Greece by reversing cuts
Prime Minister Antonis Samaras says Syriza's policies risk forcing Greece to exit the euro
Greeks are voting in a general election which could result in Greece trying to renegotiate the terms of its bailout with international lenders.
The leader of the left-wing Syriza party, Alexis Tsipras, has pledged to write off Greece's huge debt and revoke austerity measures.
However, the current conservative prime minister, Antonis Samaras, says the austerity measures are working.
He has urged voters not to take Greece to the brink of catastrophe.
Greece has endured tough budget cuts in return for its bailout, negotiated with the European Union, International Monetary Fund (IMF) and European Central Bank (ECB).
The economy has shrunk drastically since the 2008 global financial crisis, and increasing unemployment has thrown many Greeks into poverty.
Nearly 10 million people are eligible to cast their votesSyriza leader Alexist Tsipras says he will restore "dignity" to Greece by reversing cutsPrime Minister Antonis Samaras says Syriza's policies risk forcing Greece to exit the euro
Polls across Greece opened at 07:00 local time (05:00 GMT) and will close at 19:00.
There are nearly 10 million eligible voters, who are electing the country's 300-member parliament.
The first exit polls are expected immediately after the voting ends.
'Austerity over'
After casting his vote, Syriza leader Alexist Tsipras told the BBC that "the vicious circle of austerity is over".
He has said his party would restore "dignity" to Greece by rolling back cuts to jobs, pay and pensions which have hurt millions of people across the country.
The possibility of a Syriza victory has sparked fears that Greece could default on its debt and leave the euro - the single currency of 19 EU members.
This is despite the fact that Syriza has moderated its stance since the peak of the eurozone crisis, and says it wants Greece to stay a member of the currency.
Meanwhile, as he voted, Prime Minister Antonis Samaras said Greeks would be taking a risk by opting for Syriza.
"Today we decide if are going forward or if we are going towards the unknown," he said. "I am optimistic because I believe that nobody will put in danger the European course of our country."
In his final campaign speech, Mr Samaras said Syriza's policies risked forcing the country to exit the euro. He has also warned that Greece could miss out on a massive programme of quantitative easingunveiled by the ECB last week to help stimulate the eurozone economy.
The centrist To Potami party and the far-right Golden Dawn party are expected to fight for third place in the elections.
Greek economy in numbers- Average wage is €600 (£450: $690) a month
- Unemployment is at 25%, with youth unemployment almost 50%
- Economy has shrunk by 25% since the start of the eurozone crisis
- Country's debt is 175% of GDP
- Borrowed €240bn (£188bn) from the EU, the ECB and the IMF
Are you in Greece? What issues have shaped this election? You can share your experiences by emailing haveyoursay@bbc.co.uk. If you would be happy to speak further to a BBC journalist, please include a contact telephone number.
http://www.bbc.com/news/world-europe-30971612
Australian Open 2015: Maria Sharapova & Rafael Nadal through
Maria Sharapova will face Eugenie Bouchard in the Australian Open quarter-finals after the pair won in contrasting styles on Sunday.
Canada's Bouchard, the seventh seed, lost five straight games but recovered to beat Irina-Camelia Begu 6-1 5-7 6-2.
Russian second seed Sharapova was a more convincing 6-3 6-0 winner over Shuai Peng of China.
Rafael Nadal saved six set points in the first set before beating South Africa's Kevin Anderson 7-5 6-1 6-4.
Andy Murray is playing Grigor Dimitrov on Rod Laver Arena and the winner will face teenager Nick Kyrgios in the last eight.
Kyrgios fought back from two sets and match point down to beat Andreas Seppi 5-7 4-6 6-3 7-6 (7-5) 8-6 and maintain Australian interest in the men's draw.
Bouchard bounces back
Bouchard recovered from an alarming mid-match slump that saw her drop five games in a row from 6-1 3-0 up, and eventually require a third set to see off Begu.
"It's disappointing for me because I want to play so well and I want to be perfect," said the 20-year-old. "That's not possible. But I learned a lot from it and I'll try to make sure it doesn't happen next time."
Next up is a fourth meeting with her childhood idol Sharapova, with the Russian 3-0 up in previous meetings, including a dramatic French Open semi-final last year.
"I definitely want to keep playing my game no matter what and really kind of take it to her, go for my shots," said Bouchard.
Courting trouble
Bernard Tomic might have struggled to lay a glove on Tomas Berdych, but he gave tournament schedulers both barrels.
The fact that Lleyton Hewitt was the only one of 10 Australian men in the draw to play on Rod Laver Arena by round four had caused a few raised eyebrows, and Tomic called out tournament direct Craig Tiley on the subject.
"I think the scheduling was ridiculous this year," said Tomic. "Not just from my side, but for many players. I don't know who was in charge of the schedule. Really, some of the matches I saw, it was just like, wow."
Pushed on the issue, he added: "You'll have to ask Craig Tiley. That's the guy organising everything. Apparently he's the best."
Quotes of the day
"Genie, this is unacceptable." Eugenie Bouchard on the stark message she told herself in the bathroom after losing the second set against Irina-Camelia Begu.
"When I was coming up, I was compared to [Anna] Kournikova for many years in my career and still occasionally that name always comes up in interviews and articles. That's just part of it, part of the game, part of the business." Sharapova on the comparisons made between her and Bouchard.
"Not really. I have been at the US Open semis." Ekaterina Makaraova is not about get carried away and describe reaching the quarter-finals as her best ever Grand Slam performance.
"That's not mathematics. You cannot say a number. It doesn't matter at the end. I am in the quarter-finals." Rafael Nadal does not fancy putting a percentage on his level of fitness.
"Wasn't even thinking about that." Nick Kyrgios declines the invitation to say he was inspired by the imminent Australia Day on Monday
http://www.bbc.com/sport/0/tennis/30971999
Australian Open 2015: Maria
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