In Brief

The Evening Standard (London, England), June 23, 2006 | Go to article overview
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In Brief


Airbus prices on the rise as development bill soars TROUBLED European airliner manufacturer Airbus has raised the prices of its planes. The list price of its flagship A380, whose 12-14 month production delays led to a e2 billion ([pounds sterling]1.4 billion) profit warning at parent company Eads, has been lifted 4.7% to between $295 million ([pounds sterling]160 million) and $316 million. "As in every sector, we raise our catalogue prices every year," Airbus said. The price increases come as the company faces massive additional investment to make the A380, which has proved more complicated than foreseen, and a $12 billion bill to develop a midsize long-haul plane, the A370, to counter Boeing's B787.

Takeover battle on the cards for Travelodge PRIVATE equity firm BC Partners has reportedly made an approach of between [pounds sterling]700 million and [pounds sterling]750 million to buy budget hotels operator Travelodge. BC Partners, which last week raised its stake in hotels and casinos company Hyatt Regency to almost 71%, is understood to be in the process of putting together a formal bid for Travelodge and has hired advisers. But reports also say US investor Starwood Capital may put in a rival offer. Travelodge appointed UBS to assess strategic options for the business earlier this year.

Globalisation 'poses a threat to corporate rules' THE chief US securities regulator says onerous corporate governance laws such as the Sarbanes-Oxley Act face extinction as stock markets become globalised. "In a world where not only companies but also investors can choose where to trade, every nation, including the United States, will discover that there are very real competitive limits on our own ability to impose regulations," Securities and Exchange Commission chairman Christopher Cox said.

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