BA's £883m profit boost
British Airways announced annual pre-tax profits of £883m today, but warned it was braced for a "challenging" year ahead due to sky high oil prices and following its troubled move to Heathrow Terminal 5.
The airline's profits haul, up nearly 45% on the prior year, saw it meet a 10% profit margin target, triggering a £35m bonus pool for the airline's 42,000 staff. It is also paying its first dividend since 2001. But BA warned delays in the move to its new Terminal 5 would be "challenging".

'Teetering on the brink'
The United Nations said today the world economy was "teetering on the brink'' of a severe downturn and would grow by only 1.8% this year.
That is down from a global growth rate of 3.8% in 2007.
The UN's mid-year economic projections blamed the downturn on further deterioration in the US housing and financial sectors.
But developing countries would not suffer as badly, it said.

Choose your water supplier
Water and sewerage markets could be opened up to competition under recommendations announced today by regulator Ofwat.
Ofwat wants households to eventually be able to choose their water supplier in the same way they choose gas, electricity and phone providers.
It says competition would lead to lower prices.

Strike vote as bonus cashed
Sellafield workers have voted to reject the company's pay offer, sparking fears of disruption at the country's biggest nuclear site.
Last-ditch talks will be held between the unions and the company to try to resolve the dispute – ironically on the day that 10,000 Sellafield Ltd workers receive a £1,227 bonus – over a 2% offer on basic pay.

Block fails
Billionaire entrepreneur Sir Tom Hunter today lost a legal bid to prevent garden centre chain Dobbies raising £150m from shareholders.
Sir Tom – who owns 29.9% of the chain – was hoping to block an offer to fund expansion.

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