Business News Archive - July 29, 2008

By KERRA MADDERN Environmentalists campaigning about the expansion of Exeter Airport have unveiled a giant banner in protest. The city's Friends of the Earth group unveiled the 40ft banner at their stall in the centre of Exeter on Saturday.

CHICAGO _ Kraft Foods Inc., citing price hikes it pushed through to help offset the effect of soaring raw-material costs, turned in second-quarter results that topped analysts' forecasts.

The largest operator at East Midlands Airport has warned that it could make a loss this year because of spiralling fuel costs.

Philippines-based airline Cebu Pacific has announced that it will move its entire domestic and international operations to the Ninoy Aquino International Airport Terminal-3, starting on August 1, 2008.

BCI Aircraft Leasing, Inc. Victoria Ricks, 312-329-1237 vricks@bciaircraft.com Logo: http://www.bciaircraft.com Chicago-based BCI Aircraft Leasing, Inc.

By David Prosser Deputy Business Editor RYANAIR could lose as much as 60m (47m) this year with Europe's largest budget airline warning it will be forced to cut fares despite the soaring cost of jet fuel.

Building a third runway at Heathrow Airport is the "obvious" solution to airport congestion, says a report published today. A detailed study rejects building more airport capacity elsewhere around London and says the idea of a new airport in the Thames Gateway is not thought credible.

FIRST-QUARTER profits at Ryanair tumbled 85% after a doubling of its fuel bill, the budget airline said today. The Dublin-based carrier warned it could make a full-year loss of up to 60 million euros (Pounds 47.3m) if oil prices remained high and fares fell by 5 per cent.

By David Prosser; James Thompson Cash-strapped families are buying cheaper frozen foods, rather than fresh products, as they attempt to cut their outgoings, Northern Foods, which supplies leading supermarkets, said yesterday.

FOOD manufacturer Northern Foods said today that first-quarter underlying sales increased by 3.5 per cent and its expectations for the current financial year remain unchanged.

Word of the Day
  • A handkerchief.
  • Specifically— The legendary sweat-cloth; the handkerchief of St. Veronica, according to tradition miraculously impressed with the mask of Christ; also, the napkin about Christ's head (Johu xx. 7).
  • In general, any miraculous portrait of Christ.
The word 'sudarium' comes from a Latin word meaning 'a handkerchief'.