JOB LOSSES Rolls-Royce revealed today it has cut 1,300 jobs as part of its plan to combat tougher economic conditions as customers opt to delay or cancel orders
ROLLS?ROYCE has dashed hopes for a return to growth next year after seeing customers delay or cancel orders
due to worsening economic conditions.
It added that customers were informed last month and could cancel orders
if they wished.
"The inability to cancel orders
in the way you do in other markets has prevented us from extending an electronic platform into the Turkish market," commented Ashok Krishnan, head of EMEA execution services and sales at broker Bank of America Merrill Lynch.
5 January 2009 - The French government plans to cancel orders
for around 50 million vaccines against the A(H1N1) influenza, part of them manufactured by Swiss drug maker Novartis (VTX: NOVN).
They were not allowed to enter the system and cancel orders
or reduce prices of items.
Daghestani declined to say if other clients in the Middle East might also cancel orders
He added AIG had no plans to cancel orders
for the A350 or the A380 superjumbo.
"Although disguised by high fuel prices, this is about as good as it gets," he said, predicting that in two years time "we will see everybody cancel orders
for over 1,000 new aircraft." Ironically, Bonderman also is chairman of Ryanair, which has outstanding firm orders for 143 737-800s and 193 options.
In early March,UPS was reported to be seeking to cancel orders
for at least 20 of the A300-600 jetsworthabout pounds 1bn.