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Thursday, May 17th

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Down and ‘Almost’ Out – Sony needs to be ‘Cool’ again

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Sovereign Debt crisis – The Survival of a single currency

Americas

IATA raises airline profit forecast by 70% for 2010

The International Air Transport Association (IATA) has stated airlines will generate a record high $15.1bn (£9.5bn) profit this year 70 percent more than its last estimate made just 3 months ago. In Sept. it said the overall airline profit for year 2010 will be $8.9bn. The body says the modification in estimate is right down to higher-than-anticipated traveller numbers.

But it says that regardless this income is "wretched" and that the business remains on a "knife edge". IATA’s director general, Giovanni Bisignani, said though the shift in the estimate appeared theatrical it was crucial to narrate it towards the size of the industry, which is likely to turn over $565bn in revenues. The alterations in the profit forecast represent just more than 1% of that revenue figure.

Citizens Financial launches mobile business banking application

Citizens Financial Group, Inc. announced recently that it's launching accessMOBILE, a cell phone banking app that the very 1st time authorizes Citizens Bank and Charter One business customers to handle their cash and payments from the mobile device.The iPhone using accessMOBILE can be obtained now. It will likely be provided later on Droids and Blackberry. The applying is free of charge to Citizens' commercial and business banking customers.

With accessMOBILE's simple to employ and instinctive edge, Citizens' consumers can agree awaiting transactions, view account background and transaction details, get present day snapshots and carry out intra-organization funds transmits and acceptance alerts and bank mail - all using their cellular devices as well as in a protected surroundings."This landmark application can change the way in which our consumers can carry out business," said Ellen Alemany, CEO and chairman of Citizens and RBS Americas. "In reality, accessMOBILE may be the 1st cell phone banking application open to business customers within the 12 states of Citizens' retail footprint."

Ogilvy Renault joining Norton Rose Group, to form international legal giant

Canadian law firm Ogilvy Renault says it'll join the Norton Rose Group in next June.The enlarged group may have more than 2,500 lawyers within 37 workplaces worldwide.Peter Martyr, CEO of Norton Flower Group, said that his firm is actually visiting a substantial rise in the amount of company moving in between Canada, Africa, European countries, Asia as well as Australia.

Brazil drives 11 % P&C growth for Allianz’s South American units in Q3

German born financial service provider group Allianz increased 3Q10 major P&C premiums in South America by 11.1% in order to 401mn Euros (US$550mn) when compared with 3Q09, along with Brazil becoming the main driver, the group said in an earnings release.Allianz said that development in Brazil turned through just about all company lines, except for large and industrial sections.

Including a positive foreign exchange translation impact of 61mn dollars, the actual minimal gross premium development had been 31%."In big European primary markets we're still somewhat shrinking due to competition and prices, however there are other segments such as South America... exactly where we are growing highly and therefore are highly viably," CFO Oliver Bate informed the business call.

Open System Sees Product Improvements Driving Business in 2011

Miami-based business and operations support techniques (BOSS) provider Open System thinks a series of inner enhancements put in place to it's products this season that make it easier for customers to configure their system as well as expose brand new services ought to drive business in Latin America within 2011, Open System’s service manager, Juan Pablo Nunez, told recently.