Spanish step is start of ex-pilot’s global wish-list

The future aims of Willie Walsh, the high-flying chief executive of British Airways, are to build on the Iberia deal in spite of important matters in his in-tray

• BA chief warns cabin crew over strike

Rockspring buys distressed RBS assets

The property fund manager, agrees to buy a portfolio of UK industrial properties from Royal Bank of Scotland, in one of the first deals to take distressed assets from a UK lender

Chi-X leaves upstart label behind

In continental Europe, Chi-X regularly trades enough shares in blue-chips such as ST Microelectronics and Siemens that, while it is technically not an ‘exchange’ like Euronext or Deutsche Börse, it still ranks as third-largest trading platform

Blacks Leisure set for deal to escape administration

The outdoor goods retailer looks set to reach and agreement that will allow it to back out of leases on 101 stores

Nationwide lashes out at rescued banks

The head of Nationwide, Britain’s biggest building society, accuses government-backed companies of seriously distorting the savings market as its profits fall more than 60%

L&G set to appoint John Stewart as chairman

The UK’s third largest life and pensions company is on the verge of appointing John Stewart, the former head of National Australia Bank, as its new chairman, pending FSA approval

Discounters rush to grab Woolies inheritance

Discount retailers have been the major beneficiaries of Woolworths’ collapse, with 39% of stores now let taken by Poundland, B&M Bargains and other value chains

First Quench to shed more jobs and stores

The administrators of First Quench, owners of Threshers and Wine Rack chains, said it would cut almost 1,900 jobs and close hundreds more stores