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British Airways posts $245M quarterly loss

British Airways reported a pre-tax loss Friday of $245 million in the three months till the end of June, contributing to an already-tough year for the troubled airline.

BA has already cut 1,450 jobs since the end of March and has persuaded its pilots to agree to a pay cut. Chief Executive Willie Walsh gave up his July salary to help the airline cut costs.

But BA is still facing the threat of strikes by ground staff, and earlier this month the airline said it plans to raise nearly $1 billion in emergency cash funding to survive the economic downturn.

 

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Apple Reports Second Quarter Results

CUPERTINO, California—April 24, 2012—Apple® today announced financial results for its fiscal 2012 se...

Vodafone to Acquire Cable and Wireless Worldwide

Vodafone Group agreed on Monday to buy Cable and Wireless Worldwide, an acquisition that will add a ...

Nestle wins pricey battle for Pfizer baby food unit

Swiss food group Nestle is to buy drugmaker Pfizer's baby food business for $11.85 billion, beating ...