British Airways´ pension deficit more than doubled to 3.7 billion pounds at the end of March, it revealed on Monday, higher than analysts expected but not seen as big enough to derail a merger with Spain´s Iberia. Shares in BA were down 0.7 percent at 199.90 pence by 11:55 a.m. while Iberia was 0.8 percent down at 2.01 euros. “We´re not surprised by this figure. It falls within the expected range,” a source at Iberia told Reuters on Monday. BA and Iberia announced in November that they had reached a preliminary agreement for a merger after months of negotiations. BA´s pension deficit was one of the main stumbling blocks in the merger negotiations and Iberia has reserved the right to back out of the deal if the funding hole turns out to be too big. Nevertheless, the deficit figure of 3.7 billion pounds could be higher by the time the valuation process is completed in June next year because Britain´s Pensions Regulator believes the assumptions used to calculate the shortfall are too optimistic. “The regulator's provisional view is that the technical provisions may be materially below a level it feels appropriate,” BA said in a statement. Analysts at Deutsche Bank described the figure as “towards the high end of market expectations” but said a recovery in the stock market since the end of March meant the current funding hole gap probably stood at around 2 billion pounds. “However, even taking into account the rise in the stock market since March it seems that more money will have to be found for the pension deficit,” they said in a research note. LABOUR TALKS BA said the airline and pension trustees will work together to develop a recovery plan, a process which will involve the company consulting with employees and their trade unions and which must be completed by June 30, 2010. BA and Iberia hope to conclude a merger deal by the end of 2010 and attention is now expected to switch to the nature of any pensions deal the British carrier can strike with its staff and what proportion of the gap will be covered by the company. “The company may be forced to renegotiate pension benefits with employees if it is to avoid using more shareholders cash,” Deutsche Bank said. “Industrial unrest could therefore worsen over the next few weeks.” The Unite union is due later on Monday to give the result of a strike ballot of some 13,500 BA cabin crew who are expected to vote in favour of a Christmas walkout over planned costs cuts and changes to work practices. BA wants three quarters of its crew to accept a pay rise of between 2 and 7 percent this year and next and for 3,000 staff to switch to part-time working, along with a reduction in onboard crewing levels on some flights from London Heathrow. Unite expects the strike, which sources believe could begin as soon as December 21, to go ahead and bring the airline´s Christmas business to a virtual standstill. A Unite spokeswoman told Reuters that it had expected BA´s pension deficit to be larger than the reported figure and that it does not want the issue “to dovetail into strike talks.” Analysts estimate that a two-day strike over Christmas could cost the airline around 50 million pounds. Independent pensions consultant John Ralfe said that although Iberia management may have been privy to the new pensions deficit numbers, investors in the Spanish airline would still be shocked. “What a month ago looked like a deal that might work with a following wind … now looks much more difficult,” he said. Ralfe said the statement appeared to imply that the company would be talking to unions and employees about cutting benefits at a time when industrial relations are already strained. A spokeswoman for BA said the company could not afford to make any additional contributions to the pension scheme than those already being made but was looking at all other options for a recovery plan. BA said an actuarial review had revealed a 1 billion pound deficit at its Airways Pension Scheme (APS) and a further 2.7 billion pound black hole at its New Airways Pension Scheme (NAPS). That compares with a funding gap of 1.8 billion pounds identified by trustees at the end of March 2008. via British Airways Pension Deficit Swells – NYTimes.com . Submit this to Script & Style Share this on Blinklist Share this on del.icio.us Digg this! Post this on Diigo Share this on Reddit Buzz up! Stumble upon something good? Share it on StumbleUpon Share this on Technorati Share this on Mixx Post this to MySpace Submit this to DesignFloat Share this on Facebook Tweet This! Subscribe to the comments for this post? Share this on Linkedin Seed this on Newsvine Share this on Devmarks Add this to Google Bookmarks Add this to Mister Wong Add this to Izeby Share this on Tipd Share this on PFBuzz Share this on FriendFeed Mark this on BlogMarks Submit this to Twittley Share this on Fwisp Moo this on DesignMoo! Share this on BobrDobr Add this to Yandex.Bookmarks Add this to Memory.ru Add this to 100 bookmarks Add this to MyPlace

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British Airways Pension Deficit Swells

Summary: Magnitude ML 2.6 Region CANARY ISLANDS, SPAIN REGION Date time 2009-12-11 at 23:18:09.1 UTC Location 28.12 N ; 16.48 W Depth 23 km Distances 43 km S San cristóbal de la laguna (pop 139,928 ; local time 23:18 2009-12-11 ) 10 km E Granadilla de abona (pop 33,259 ; local time 23:18 2009-12-11) 6 km S Arico (pop 7,189 ; local time 23:18 2009-12-11) via EMSC – European-Mediterranean Seismological Centre . Submit this to Script & Style Share this on Blinklist Share this on del.icio.us Digg this! Post this on Diigo Share this on Reddit Buzz up! Stumble upon something good? Share it on StumbleUpon Share this on Technorati Share this on Mixx Post this to MySpace Submit this to DesignFloat Share this on Facebook Tweet This! Subscribe to the comments for this post? Share this on Linkedin Seed this on Newsvine Share this on Devmarks Add this to Google Bookmarks Add this to Mister Wong Add this to Izeby Share this on Tipd Share this on PFBuzz Share this on FriendFeed Mark this on BlogMarks Submit this to Twittley Share this on Fwisp Moo this on DesignMoo! Share this on BobrDobr Add this to Yandex.Bookmarks Add this to Memory.ru Add this to 100 bookmarks Add this to MyPlace

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Earthquake: Canary Islands

The A400M military transport plane that has been causing Airbus and European defense ministers budgetary and logistical headaches finally took to the skies for its maiden flight on Friday. But even as the hulking gray airlifter took off from the Spanish city of Seville, defense officials are meeting on the sidelines of the event to decide how to continue with the much delayed and over budget project. Louis Gallois, head of Airbus parent EADS, said he found the takeoff “more moving than I expected. It's enormous. We´ve been waiting a long time.” He disappeared into the VIP tent — where journalists are not allowed — when asked about cost overruns. The A400M program was launched six years ago with an order for 180 planes from seven governments — Belgium, Britain, France, Germany, Luxembourg, Spain and Turkey. The project is running at least three years late. The original price was euro20 billion ($29.46 billion), but a preliminary report by auditors PricewaterhouseCoopers said EADS might need an extra euro5 billion — inflating the final bill by 25 percent, a person familiar with the talks said on condition of anonymity, as he is not authorized to speak to reporters. Airbus CEO Tom Enders declined to talk about the A400M´s funding gap, saying “I am not talking about any sums of money today, we are celebrating the first flight.” “There are ongoing negotiations,” he said. “I hope we can conclude them in the weeks ahead.” Enders told The Associated Press that he enjoyed a breakfast of croissants and “very strong coffee” with the six man crew Friday morning to wish the two test pilots and four engineers good luck. “They were very confident,” he said. Friday's flight is testing basic functions such as the landing gear and the flaps. It marks the beginning of a three-year flight test program. The 127 ton (140 short tons) plane took off 15 minutes late after a few glitches with the flight instruments, said Fernando Alonso, head of Flight Operations at Airbus. It headed southwest, over the Spanish region of Extremadura. via It Flies! Airbus’ Hulking A400M Has Maiden Flight – ABC News . Submit this to Script & Style Share this on Blinklist Share this on del.icio.us Digg this! Post this on Diigo Share this on Reddit Buzz up! Stumble upon something good? Share it on StumbleUpon Share this on Technorati Share this on Mixx Post this to MySpace Submit this to DesignFloat Share this on Facebook Tweet This! Subscribe to the comments for this post? Share this on Linkedin Seed this on Newsvine Share this on Devmarks Add this to Google Bookmarks Add this to Mister Wong Add this to Izeby Share this on Tipd Share this on PFBuzz Share this on FriendFeed Mark this on BlogMarks Submit this to Twittley Share this on Fwisp Moo this on DesignMoo! Share this on BobrDobr Add this to Yandex.Bookmarks Add this to Memory.ru Add this to 100 bookmarks Add this to MyPlace

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It Flies! Airbus’ Hulking A400M Has Maiden Flight – ABC News

A Spanish couple has been sentenced to prison for breaching a distancing order and reuniting after hitting a troubled patch in their marriage. A court found the husband and wife guilty of breaching the order, which forbade them from coming within 500 metres of each other. The pair, who have not been identified, separated in September 2008 and a court imposed the distancing order after repeated conflict between the two. The court banned the husband from approaching his wife or attempting to contact her under laws aimed at tackling domestic violence. But last month, after a trial separation that lasted more than a year, the estranged pair decided to patch things up. They were arrested when Civil Guard officers discovered them together in their home town of Motril in Andalusia on Spain´s southern coast, although both claimed they were with each other by mutual agreement. The man has been sentenced to six months in jail and his wife was found guilty of being his accomplice and given a lesser sentence of four months. via Married couple given jail sentence for getting back together – Telegraph . Submit this to Script & Style Share this on Blinklist Share this on del.icio.us Digg this! Post this on Diigo Share this on Reddit Buzz up! Stumble upon something good? Share it on StumbleUpon Share this on Technorati Share this on Mixx Post this to MySpace Submit this to DesignFloat Share this on Facebook Tweet This! Subscribe to the comments for this post? Share this on Linkedin Seed this on Newsvine Share this on Devmarks Add this to Google Bookmarks Add this to Mister Wong Add this to Izeby Share this on Tipd Share this on PFBuzz Share this on FriendFeed Mark this on BlogMarks Submit this to Twittley Share this on Fwisp Moo this on DesignMoo! Share this on BobrDobr Add this to Yandex.Bookmarks Add this to Memory.ru Add this to 100 bookmarks Add this to MyPlace

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Married couple given jail sentence for getting back together

If have a business in Andalucia it can be very difficult to get it off the ground, especially if you don’t have a large promotional budget. The ex-pat community is very small and people mistrust newcomers, so you need to get yourself and your company known. The best way to build trust and make important contacts is networking. Check out the networking groups in your area and try an event from each organisation. All groups allow guests for one or two meetings before asking you to become a member and it is well-worth trying them all and seeing which one suits you best. Make sure you take lots of business cards and promotional material and speak to as many people as possible to make the most of your time. Although it is time consuming, it is well worth the effort and cheaper than advertising for new business. There are various networking groups on the Costa del Sol to choose from including: British Chamber of Commerce 4 Business Networking BNI Women in Business Business Owners in Spain Christmas is a great time to start networking as the events tend to be more social and therefore less intimidating for new people and you can always bring friends and family along for moral support. Many organisations have already held their Christmas parties, but there are a few more to come. A novel twist on the classic office party is being held by Business Owners in Spain, especially for small businesses, self-employed or retired people who don’t get a company Christmas party. This will be a great way to meet new people and make valuable contacts for business in 2010. It will be held on Saturday 19th December from 19.30 at the beautiful Ogilvy & Mailer Bar and Restaurant in Nueva Andalucia . There will be a festive 3 course meal, including turkey and all the trimmings, half a bottle of wine per person and of course the obligatory crackers for just 30€ per head. You don’t have to be a member to attend, anyone is welcome to join the party. To book your place at the Business Owners in Spain’s Christmas Party please telephone Ogilvy & Mailer on +34 952 815 398 or visit www.ogilvyandmailer.com To find out the other networking events taking place over Christmas and the New Year, visit the networking websites above.

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Networking for Business Success in Andalucia

FAPAE and DIBOOS consider that the exclusion of the sector in the draft of the General Law of Audiovisual Communication could be the end of animated series in Spain. In light of the public's favour and the leadership of Spanish TDT thematic channels, with the success of the international market, including the United States, and with a promising future in the exploitation of new models of digital and interactive commercialization, the audiovisual sector still cannot comprehend why animation series are not to receive the same support proposed by the government through the investment of both public and private television stations in cinema, within the new General Law of Audiovisual Communication. Independently of being the only foreign country capable of having two of its animated films as Oscar nomination candidates in this category with “Planet 51″ and “El Lince Perdido”, the animation series section is equally brilliant the world over: “Pocoyó”, for example, has already been sold to more than one hundred countries; two other productions, “Suckers” and “Kambu”, have been awarded best comedy and preschool series by an international children’s jury in the latest MIPJUNIOR market in Cannes; and the series “Sandra, la detective de cuentos” leads TF1 audiences in France since this summer. It should be mentioned that, in the draft of the new General Audiovisual Law, the public audiovisual communication service is defined as essential for the “diffusion of content to those citizens and social groups who are not the targets of majority programming”. And Spanish producers believe that animation series must clearly fill this role for the children's and young adult audience. FAPAE, the Federation of Spanish Audiovisual Producers Associations and DIBOOS, the Spanish Federation of Animation Producers' Associations, believe that the creation of animated series is one of the audiovisual sectors with greatest growth and export volume in the new audiovisual fabric.  For that reason, they unanimously demand that the new General Law of Audiovisual Communication contemplates the investment of 1% of the income from television stations in national animation series, something that is already a reality in Catalonia. via Call For Stronger Animation Support in Spain | AWN | Animation World Network . Submit this to Script & Style Share this on Blinklist Share this on del.icio.us Digg this! Post this on Diigo Share this on Reddit Buzz up! Stumble upon something good? Share it on StumbleUpon Share this on Technorati Share this on Mixx Post this to MySpace Submit this to DesignFloat Share this on Facebook Tweet This! Subscribe to the comments for this post? Share this on Linkedin Seed this on Newsvine Share this on Devmarks Add this to Google Bookmarks Add this to Mister Wong Add this to Izeby Share this on Tipd Share this on PFBuzz Share this on FriendFeed Mark this on BlogMarks Submit this to Twittley Share this on Fwisp Moo this on DesignMoo! Share this on BobrDobr Add this to Yandex.Bookmarks Add this to Memory.ru Add this to 100 bookmarks Add this to MyPlace

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Call For Stronger Animation Support in Spain

Spain was forced to apologise to Gibraltar after armed maritime officers strayed into the British territory´s waters while in pursuit of smugglers. Four Spanish Civil Guardsmen were seized on Monday evening after chasing suspected smugglers close to the Rock. Gibraltarian police detained the Spaniards and two suspected smugglers, who grounded their dinghy on rocks near a supermarket inside the port. It was the second diplomatic incident relating to tensions between Spain and Gibraltar in less than a month. The Spanish interior minister, Alfredo Perez Rubalcaba, made a prompt call to Gibraltar´s Chief Minister, Peter Caruana, to apologise for the breach and the Spanish officers were released shortly after. “Mr Rubalcaba called me personally last night,” said Mr Caruana on Tuesday. “He said that they deeply regretted the incident and he apologised.” The Gibraltar leader said he had been assured that there were “no political intentions” behind the incident, the latest in a series of maritime confrontations between Spanish and British authorities amid escalating tensions ovre maritime territory. Spain has no legal authority in the waters surrounding the Rockat its south-western tip. Gibraltar was ceded to the British under the 1713 Treaty of Utrecht but Spain has never relinquished its claim of sovereignty and disputes Britain´s jurisdiction of the waters that surround it. The latest drama comes only weeks after the Royal Navy was accused of using a Spanish flag for target practice during a military exercise in international waters off Gibraltar. Britain's new ambassador to Spain, Giles Paxman, explained the target had in fact been a Nato flag bearing the same colours as the Spanish flag. But he apologised for the incident. via Spain apologies after incursion into Gibraltar waters – Telegraph . Submit this to Script & Style Share this on Blinklist Share this on del.icio.us Digg this! Post this on Diigo Share this on Reddit Buzz up! Stumble upon something good? Share it on StumbleUpon Share this on Technorati Share this on Mixx Post this to MySpace Submit this to DesignFloat Share this on Facebook Tweet This! Subscribe to the comments for this post? Share this on Linkedin Seed this on Newsvine Share this on Devmarks Add this to Google Bookmarks Add this to Mister Wong Add this to Izeby Share this on Tipd Share this on PFBuzz Share this on FriendFeed Mark this on BlogMarks Submit this to Twittley Share this on Fwisp Moo this on DesignMoo! Share this on BobrDobr Add this to Yandex.Bookmarks Add this to Memory.ru Add this to 100 bookmarks Add this to MyPlace

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Spain apologies after incursion into Gibraltar waters

Sorry if this news hits you as you sit at your desks with the rain lashing against the window, or as you sit at home with the curtains tightly closed and the central heating turned up full blast, but here in Southern Spain we are still waiting for winter to arrive. Apart from a few indifferent days in November, we have seen clear blue skies most days, with daytime temperatures averaging around 18 degrees – extremely pleasant for this time of year, and a real contrast with last winter, when it seemed the whole of Europe took a real battering from the weather. Here we are in December on the Costa del Sol , and although the nights can get a little chilly (you need to wear a jacket or a sweater), most people are walking around in shirt-sleeves, still enjoying the beaches and other outdoor pursuits. This weather on the Costa del Sol has got to be the perfect climate……and it´s only 2 ½ hours from the UK. What are you waiting for??!! Related Posts Spanish Properties Cannot Cope in the Cold Falling in Love with Spain…again! Winter Arrives on the Costa del Sol

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Still Waiting for Winter on the Costa del Sol

A man in eastern Spain has become the first to receive an official letter apologising for his imprisonment for being homosexual in the 1970s. Antoni Ruiz spent three months in prison under a law introduced during Gen Francisco Franco's dictatorship. In addition to the letter, he has received 4,000 euros ($5,900; £3,600) in compensation. Mr Ruiz estimates around 5,000 homosexuals suffered a similar fate to him during Gen Franco's dictatorship. Historical Memory law When he was 17, Antoni Ruiz told his family he was gay. It was 1976, just months after Gen Franco had died and homosexuality was strictly illegal. When Antoni's worried parents confided in a Catholic monk, he promptly denounced their son to the authorities. The teenager spent three months in prison and was banned from returning home for another year. Mr Ruiz, who now heads an association for other former prisoners, has become the first to receive official recognition of his suffering, in a letter from the justice minister of Spain. More than three decades after his ordeal, Mr Ruiz told the BBC that the letter amounts to an apology, and says it is far more important to him than the financial compensation. He has benefited from Spain's Historical Memory law that was passed in 2007 and broke a three-decade long pact of silence about crimes committed by the state during the Spanish Civil War and the long dictatorship of Gen Franco. The law banning homosexuality was overturned in 1979, and Antoni Ruiz says he is proud that Spain today is extremely tolerant. Despite its mainly Catholic population, it was one of the first countries to legalise same-sex marriages, and give gay couples the same right as anyone else, to adopt children. via BBC News – Spain apologises for jailing gay man in 1970s . Submit this to Script & Style Share this on Blinklist Share this on del.icio.us Digg this! Post this on Diigo Share this on Reddit Buzz up! Stumble upon something good? Share it on StumbleUpon Share this on Technorati Share this on Mixx Post this to MySpace Submit this to DesignFloat Share this on Facebook Tweet This! Subscribe to the comments for this post? Share this on Linkedin Seed this on Newsvine Share this on Devmarks Add this to Google Bookmarks Add this to Mister Wong Add this to Izeby Share this on Tipd Share this on PFBuzz Share this on FriendFeed Mark this on BlogMarks Submit this to Twittley Share this on Fwisp Moo this on DesignMoo! Share this on BobrDobr Add this to Yandex.Bookmarks Add this to Memory.ru Add this to 100 bookmarks Add this to MyPlace

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Spain apologises for jailing gay man in 1970s

A 20-year-old resident of Alicante was arrested in Murcia on Wednesday for impersonating a Guardia Civil officer and asking foreigners passing through the street, to show them what they had in their pockets, according to police sources. The incident took place about 9:30 am on Calle Santa Joaquina de Vedruna, when a person alerted the local police, having found it “strange” that a man dressed in camouflage clothing and wearing a balaclava on his head, was seen to be asking only foreign persons to show the contents of his pockets. A patrol of the local police attended, who found a young male, matching the clothing description and wearing a holster and hand-cuffs on his belt, and a camouflage backpack. After identifying the person, the officers asked if he had been impersonating the Guardia Civil as alleged, and the suspect said “no”. Given this fact, the officers questioned several people who had witnessed the incident which corroborated the testimony of the person who had called the police. Again, the officers asked him and he gave a negative response. The officers then proceeded to search the bag that was with the man and located a compressed air weapon inside. Finally, the officers arrested the man and took him to the offices of the National Police station to conduct inquiries. Submit this to Script & Style Share this on Blinklist Share this on del.icio.us Digg this! Post this on Diigo Share this on Reddit Buzz up! Stumble upon something good? Share it on StumbleUpon Share this on Technorati Share this on Mixx Post this to MySpace Submit this to DesignFloat Share this on Facebook Tweet This! Subscribe to the comments for this post? Share this on Linkedin Seed this on Newsvine Share this on Devmarks Add this to Google Bookmarks Add this to Mister Wong Add this to Izeby Share this on Tipd Share this on PFBuzz Share this on FriendFeed Mark this on BlogMarks Submit this to Twittley Share this on Fwisp Moo this on DesignMoo! Share this on BobrDobr Add this to Yandex.Bookmarks Add this to Memory.ru Add this to 100 bookmarks Add this to MyPlace

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Young Guardia Civil impersonator arrested for “frisking” pedestrians