A revenue sharing agreement, similar to one operated by British Airways and American Airlines on transatlantic routes, would probably be entered between Virgin Atlantic and Delta Airlines (NYSE:DAL) after the consummation of Delta’s purchase of 49% of Virgin Atlantic from Singapore Airlines. Virgin owner Richard Branson is said to be not interested in selling any portion of his 51% stake, and is, instead, “concentrating on working with Delta.”
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Japanese electronics firms Panasonic Corp (NYSE:PC), Sony Corp (NYSE:SNE) and Sharp Corp propose to sell off non-core real estate holdings and shares held as investments in other companies in a bid to raise cash, reduce fixed expenses and trim debt. Assets such as office and factory space, sports facilities and dormitories for workers are likely to be sold off in what Reuters calls a “giant garage sale” that could yield about $3 billion.
McDonald’s Corp (NYSE:MCD) reports that global same-store sales were up 2.4% during November and up 2.5% in the US, the latter driven by highly popular breakfast options such as a value menu and Cheddar Bacon and Onion sandwiches. In Europe same-store sales were up 1.4% with strong showing from the UK, Russia and other markets, though Germany was weak. Purchase in Japan late to a growth of only 0.6% in same-store sales in the Asia, the Middle East and African markets.
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