Archive for the UK Category
National Express to cut 750 jobs
Rail and bus firm National Express says it plans to cut up to 750 jobs to save costs over the next year.
Unemployment increases sharply
The number of people out of work rose by 137,000 to 1.86 million in the three months to October, official figures show.
Ryanair wins Belgian aid appeal
Ryanair does not have to repay the money it got to encourage it to stay at Charleroi airport in Belgium, a European court rules
Retailers gloomy before Christmas
Retailers reported falling sales volumes in early December despite the cut in VAT, according to employers’ group CBI.
Honda slashes its profit forecast
Japanese carmaker Honda cuts its annual profit forecast by 62% amid falling global car demand and the soaring yen.
Bank considered bigger rate cut
The Bank of England’s rate-setting body voted 9-0 to cut rates to 2% this month and considered a bigger move.
UK work time opt-out rejected
Euro MPs have voted in favour of ending the UK’s opt-out from laws limiting the working week to 48 hours.
Woolworths to close in January
Administrators at Woolworths say the chain’s 807 stores will close by 5 January and 27,000 staff are set to lose their jobs.
Grim future for endowments
There’s a mortgage endowment crisis looming as policies mature while being devalued.
Morgan Stanley hit by big losses
US investment bank Morgan Stanley announces a much larger-than-expected fourth quarterly loss of $2.19bn.