Big lift for airports group

PASSENGER numbers at airports owned by TBI have risen by 13 per cent as demand for low-cost services remained strong in the first three months of this year. The group, which operates Luton, Belfast International, Cardiff and Stockholm-Skavsta airports, said the strong performance meant trading in the second half of its financial year had been in line with expectations.

JOBS AXED: Bank of America is to cut 12,500 jobs worldwide over the next two years, it emerged yesterday. The company, which employs about 2,000 people in the UK, said the move was linked to its merger last year with FleetBoston Financial Corporation. Cuts are to start this month and will account for seven per cent of the firm's total 180,000 employees. A spokeswoman for the Bank of America was unable to say whether jobs would be lost in the UK.

DEFENCE DEAL: Aerospace and defence group Cobham has announced it is buying an American company specialising in counter-terrorist equipment. The company said it was acquiring DTC Communications for £26.3m through its Chelton Avionics business group. DTC specialises in designing and making audio surveillance, video surveillance and tracking products used by intelligence agencies, the military and law enforcement agencies.

GOOD FORECAST: Online retailer lastminute.com raised expectations for a busy summer yesterday after seeing booking levels move "materially ahead" of hopes. The group said trading in the first three months of the year had beaten forecasts last month with bookings made for future trips and events much stronger than the £170m previously expected. The update, issued ahead of a meeting with investors and analysts, builds on a strong first quarter when transaction values rose 68.3 per cent to £146.6m.

CARS IN DEMAND: New car sales reached a record figure last month, sparking hopes that 2004 will see a record high for purchases. The new number plate for March saw sales reach 466,955 - a 6.6 per cent rise on the March 2003 figure, the Society of Motor Manufacturers and Traders said. Sales for the year to date have reached 756,006 - a six per cent rise on the January to March 2003 total. Last month's top-selling new car was the Ford Focus.