PRESS DIGEST - Financial Times - Nov 18

EASYJET SHARES GET A BOOST AMID BOARDROOM BATTLE

The budget airline EasyJet (EZJ.L) was the eighth-strongest performer of the FTSE 350 on Monday, in spite of boardroom infighting over the company's handling of the approaching recession. The founder of the business, Sir Stelios Haji-Ioannou, is urging a more cautious approach, and has come into conflict with other directors who want EasyJet to follow the path of its rival Ryanair (RYA.I), which has continued to pursue a policy of aggressive expansion despite the economic downturn. The airline will release its full-year results on Tuesday, with an expected fall in underlying profits from 191 million pounds to around 120 million pounds.

BODYCOTE HALVES ITS RETURN OF FUNDS

Shares in the thermal processing business Bodycote (BOY.L) fell by over a fifth to 95.5 pence on Monday, as the company cut a planned return of funds to shareholders by half and forecast more plant closures and declining sales into 2009. "The downturn in demand is happening quickly", stated Bodycote's chief executive John Hubbard. "We are having customers which in the last week or two are notifying us they are shutting down for extended periods involving November and January".