The Artesian blog takes a look at the business headlines, For personalised daily news, contact Artesian
Lower fares hit Aer Lingus hard - Irish Airline Aer Lingus has reported a big increase in losses for the first half of the year as it was forced to cut fares during the downturn.
The company lost 73.9m euros ($105.3m; £65m) in the six months to the end of June, more than three times the 21.6m euros it lost a year earlier. (full story)
German state to lend directly as second credit crunch looms - Germany could directly intervene in the credit insurance and lending markets as soon as September to head off a looming credit crunch, as it fears the economic recovery may soon falter as banks refuse to roll over loans.
The finance minister, Peer Steinbrück, said broad sectors of the German economy are in trouble even if the country has avoided a full-blown lending crisis so far. (full story)
Diageo earnings rise 10 percent - Diageo, the world's biggest spirits group, met forecasts on Thursday with a 10 percent rise in annual earnings but cut its profit target for this year due to concerns about the strength of any recovery.
The London-based maker of Smirnoff vodka, Johnnie Walker whisky and Guinness beer posted basic earnings for the year to end-June of 65.2 pence a share compared to a range of 57.6 to 72.6 and a consensus of 64.6p in a Reuters survey of 7 analysts. (full story)
Microsoft Sorry Over Race Row Photo Blunder - Microsoft is embroiled in a race row after the software giant Photoshopped a black person's face out of a company photograph.
The picture of three racially different people sitting in a boardroom was published on the firm's US website. (full story)
Fujitsu to cut 10% of UK workforce - Fujitsu Services, the UK arm of of the Japanese technology company, has announced plans to cut around 1,200 jobs, about 10 per cent of its workforce, in one of the largest rounds of redundancies in the IT industry in the recession.
The cuts indicate that IT, which has hitherto avoided widespread redundancies affecting other industry, is being affected by the slowdown and undermined recent reports that suggested the IT sector was helping to lead the UK out of the downturn. (full story)
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