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BMI takeover has conditions attached

THE takeover of UK airline BMI by British Airways' parent company was approved by the European Commission yesterday with conditions attached. In return for Brussels' agreement, BA's owners, International Consolidated Airlines Group (IAG), must give up 14 pairs of daily take-off and landing slots at Heathrow to boost competition. IAG must also commit to carry connecting passengers to feed the long-haul flights of competing airlines out of London Heathrow.

Ford boss Mulally's pay rises by 11pc


US carmaker Ford has said that its chief executive officer Alan Mulally's total pay rose 11pc to nearly $30m (€22.5m) last year. This was despite the company falling short on some key objectives. The second biggest US carmaker missed targets, including costs, quality and market share. But Ford continued to exceed its expectations on annual profit and cash flow in its auto businesses, it said in its annual statement to US regulators.

BlackBerry maker to review strategy


STRUGGLING BlackBerry maker Research in Motion said it will focus on business customers and review which consumer markets it competes in, after sales fell 25pc. BlackBerrys are losing ground in the business world, as employees demand iPhones or Android devices.

Airbus's subsidies must end, US says


THE United States said yesterday that European governments had failed to end illegal subsidies for aircraft manufacturer Airbus. Washington will take the first step to look for sanctions at the World Trade Organisation, which could hit European goods.

Denmark lends Ireland €400m


DENMARK lent €100m to Ireland as part of its contribution to the EU-IMF bailout programme. Denmark will lend a total of €400m in four tranches of €100m, spread over 2012 and 2013.

Irish Independent