British Airways unlikely to decide on jet order: British Airways Plc is unlikely to decide on where to place a keenly-awaited order for narrow-body jets at a board meeting later on Friday, a spokeswoman said."There is a board meeting, but it is a routine monthly board meeting - it's not a board meeting specifically on the aircraft order at all," she said. Boeing Co of the US is fighting European rival Airbus Industrie for the order which the Seattle-based company estimates would be worth at least $765 million. The British flagcarrier might opt to buy from Airbus for the first time.SmithKline cut to "neutral": SmithKline Beecham Plc was cut to "neutral" from "outperform" at Lehman Brothers, the investment bank said on Friday. In a research note, Lehman said the bid premium in SmithKline shares should shrink further as the company continued to rule out a linkup with Glaxo Wellcome Plc. The note said there looked to be more upside potential in Glaxo shares than in SmithKline. The investment bankset a "fair value" target of 650 pence on SmithKline shares, which firmed 7P To 750.
Volvo says no talks with VW beyond diesels: Swedish vehicle maker AB Volvo said on Friday it had no plans for concrete discussions with Germany's Vokswagen AG beyond the sphere of its diesel motor cooperation. Company spokesman Stefan Lorentzson declined to comment on the nature of talks between the chief executives of the two companies last Friday but said there would be no more concrete talks on anything other than the current area of cooperation.
GE Capital Finance completes US$50 m revolver: Hong Kong's GE Capital Finance Ltd has completed a US$50 million revolving loan facility with 11 international financial institutions, coordinating arranger BA Asia said on Friday. The facility comprises of two tranches. Tranche A of US$25 million has a maturity of two years while Tranche B, the remaining US$25 million, has a maturity of three years. Both tranches pay a margin of 70 basis points over the LondonInterbank Offered Rate. Fees are 45 basis points for lead managers.
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