U.K. & Ireland
British Airways Reaches Union Deal to Reduce $5.6 Billion Pension Deficit British Airways Plc reached an
agreement with unions to reduce a 3.7 billion-pound ($5.6
billion) pension deficit that’s been an obstacle to the
conclusion of a merger with Iberia Lineas Aereas de Espana SA.
EU Finance Ministers Fail to Agree on Hedge-Fund Rules Amid U.K. Dissent European Union finance ministers
failed to agree on a draft law to regulate hedge funds and
private equity firms, which the U.K. said could hurt London’s
competitiveness as a financial center.
Shell Plans to Spend $100 Billion by 2014 to Revive Growth in Production Royal Dutch Shell Plc, reeling from
seven years of falling output, will spend more than $100 billion
by 2014 to revive production growth.
Former Merrill Trader Banned by U.K. for Mismarking Holdings to Cover Loss Alexis Stenfors, a former senior
trader at Bank of America’s Merrill Lynch unit in London, was
banned for at least five years from holding a similar position
after he mismarked positions to cover up losses.
Stocks Climb, Paced by Banks, Mining Shares; Royal Bank of Scotland Gains U.K. Stocks climbed, led by a
rebound in bank and mining shares, after Standard & Poor’s said
it’s no longer reviewing Greece’s credit rating for possible
downgrade.
Nomura Says Sayeed, Architect of Purchase of Lehman in Europe, Steps Down Nomura Holdings Inc. said Sadeq
Sayeed, who engineered the bank’s purchase of Lehman Brothers
Holdings Inc.’s European unit 18 months ago, will step down.
Scottish Power, Pelamis Win Tidal Energy Contracts to Power 700,000 Homes Iberdrola SA’s Scottish Power unit
and Pelamis Wave Power Ltd. won some of the 10 contracts awarded
today by the U.K. government that aim to generate electricity
from changes in the tides.
BP Says It Has Taken a Stake in Value Creation's Canadian Oilsands Block BP Plc, the biggest U.S. oil
producer, took a stake in Value Creation Inc.’s Terre de Grace
oilsands block in Canada.
Pound Gains as Stocks Advance, Poll Suggests Risk of Hung Parliament Eases The pound advanced against the
dollar as the nation’s main stock index rose and a poll eased
concern that elections this year won’t produce a clear winner.
British Airways Plans to Battle Strikes With High-Density Seats, Cold Food British Airways Plc will squeeze
passengers into high-density planes with less legroom and no
hot food as it seeks to minimize cancellations during a three-
day strike by 12,000 cabin crew.
London Eye, Empire State Building Go Green as Ireland Seeks Lost Tourists Ireland will tomorrow turn the
Empire State Building and London Eye green in a St. Patrick’s
Day drive to lure tourists back after visitor numbers slumped to
a five-year low.
Britain Should Probe Police Role After Real IRA Omagh Bombing, Report Says The U.K. government should probe
whether police investigating a 1998 Real Irish Republican Army
bombing that killed 29 people were denied access to information
which might have led to arrests, according to a report today.
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