Daily News Channel
British Airways pilots are being urged to accept a deal under which they will receive shares in the struggling company in return for a pay cut, their union said Thursday. The move will save the company £26 million ($42 million) annually and is the latest measure to help the airline through the economic downturn.
British Airways is asking thousands of its staff to work for free for up to four weeks, spokeswoman Kirsten Millard said Tuesday. In an e-mail to all its staff, the airline offered workers between one and four weeks of unpaid leave — but with the option to work during this period. British Airways employs just more than 40,000 people in the United Kingdom
British Airways posted the airline’s worst annual loss since its privatization in 1987 as its chief executive declared there were "absolutely no signs of recovery" in the industry. The airline slumped from profit to loss in the last financial year. During the year ended March 31, its operating loss swelled to £220 million ($348 million) from a restated profit of £878 million ($1.4 billion) in 2008.
A suicide bomb exploded at a Kurdish funeral in the northern Iraqi town of Jalawla Monday evening, killing at least 14 people and wounding 31 others, according to local police. The ongoing fierce gun battles in the densely forested and foliaged mountain range of Shamswari, the deadliest in recent months, entered its fourth day Monday. “The thorough combing operation is in progress, and it is expected that a few more terrorists may be holed up in the area including an isolated house,” Lt
Citigroup shares are going up every day now, gaining 23% yesterday. So far, the stock has gone from a low of $0.97 to $3.20 in just a few weeks
One of the most enduring mysteries of the 20th century has been put to rest: DNA analysis of bone fragments has proven that two of Czar Nicholas’ children believed to have escaped were killed with their royal family during the Russian Revolution. The chemically damaged and burnt remains were found in the Romanov family’s makeshift grave outside the city of Yekaterinburg, Russia, in 2007.
Indian police and paramilitary troops placed a large section of Srinagar under strict restrictions Saturday in hopes of thwarting further violence in the summer capital city of Indian-controlled Kashmir.
General Motors’ European division announced Friday that its German subsidiary, Opel cars, will become an independent unit of the company.
Taiwan’s economy slumped 8.36 percent during the last three months of 2008, the government said Wednesday. The island’s economy spiraled into recession with its second straight quarter of economic losses. For the third quarter of 2008, Taiwan’s real gross domestic product (GDP), adjusted for inflation, slipped about 1 percent, according to the Directorate General of Budget, Accounting and Statistics