Newzonline

Friday, British Airways plc (BAY, BAY.L,BABWF.PK, BAIRY.PK) posted a 3.8% fall in June traffic. Apart from the challenging economic conditions, June performance metrics reflected the impact of the rapidly spreading A(H1N1) flu. The airline slashed its projected capital spending for 2009 and 2010.

Friday, Canadian diversified resource company Teck Resources Limited said it has agreed to sell about 17.2% of its equity to state-owned China Investment Corp. through a C$1.74 billion private placement, with which the company expects to reduce its outstanding bank debt. The transaction is expected to close on or about July 14, 2009, subject to customary conditions, including applicable stock exchange approvals.

Minister for Railways Mamata Banerjee, while presenting her first Railway Budget of the United Progressive Alliance government for fiscal year 2010 on Friday, proposed that there would be no increase in passenger fares and freight tariff. She said that the Budget would stress on ‘inclusive growth’ and expansion of rail network to take development to every corner of the country. She announced the introduction of new trains, upgrading of stations and fresh Yuva trains.

Friday, Balfour Beatty Plc (BBY.L), a British engineering, construction, services and investment company, said its trading performance in the year continues to be in line with expectations, reflecting continued infrastructure expenditure by its customers, the benefit of acquisitions and tight control of costs. Going ahead, the company said it anticipates making progress in 2009.

Spurred by discounts and easy retail finance, Maruti recorded a double-digit growth in sales during June, while Tata Motors sales declined. Maruti posted the the highest ever monthly export volume in the company’s history.