Thursday lunchtime business bulletin

BA's £4bn aircraft order/Mortgage take-up falls again/Moss Bros' new look delivers

British Airways has ordered 36 aircraft , which at £4.1bn is the largest order the airline has made since 1998.
BA will buy 12 Airbus A380 superjumbos and 24 Boeing 787s, to be delivered between 2010 and 2014. The group also has options to buy seven more A380s as well as a further 18 Dreamliners from Boeing.
It said the new planes, which will replace 34 planes in its current long-haul fleet, would be "greener, quieter and more fuel efficient" with much lower CO2 emissions.

Menswear retailer Moss Bros has said its new-look stores were producing good returns after it delivered half-year results in line with expectations.
The group said like-for-like sales rose 3% in the six months to July 28, with 32 sites so far subject to refurbishment achieving an average uplift of 6%.
Margins also improved on the back of supply chain work and tighter control of stock, as Moss met City expectations with half-year losses of £800,000. It recorded underlying profits of £300,000 a year earlier.

The number of mortgages approved for people buying a home fell for the third month in a row during August as the market continued to show signs of cooling, figures showed today.
A total of 61,051 home loans were approved for people moving house during the month, 9% fewer than in July and 14% below the figure for August last year, the British Bankers’ Association said.
There was also a drop in the number of loans arranged by people who were remortgaging and those who were releasing equity from their property compared with July’s figures, although both the number and value of loans for remortgaging were up year-on-year.

The pound at noon was US$2.0232 compared to US$2.0155 at the previous close, while the euro at noon was £0.6992 compared to £0.7008  at the previous close.

For more on these and other stories see nebusiness in tomorrow’s Journal.


David Whetstone
Culture Editor
Graeme Whitfield
Business Editor
Mark Douglas
Newcastle United Editor
Stuart Rayner
Sports Writer