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UK economy

UK economy

Posted Fri, 12/03/2010 - 07:08

U.K. authorities planning high-speed rail network

U.K. authorities planning high-speed rail network

Thursday 11th March 2010

The UK government has today issued plans for a £30 billion high-speed rail link in the UK with work set to begin in the autumn. This will provide the UK with the fastest rail network in Europe and create up to 10,000 jobs over the lifetime of ... Full Story>>

Posted Fri, 12/03/2010 - 07:07

Banking giant Brian Pitman dies

Banking giant Brian Pitman dies

Thursday 11th March 2010

Banking giant Brian Pitman has today died of a heart attack leaving behind many memories for those associated with the former head of Lloyds bank and of late the chairman of Virgin Money. After suffering a heart attack on Tuesday he died in ... Full Story>>

Posted Thu, 11/03/2010 - 21:20

Violence on the streets of Athens

Violence on the streets of Athens

Thursday 11th March 2010

The ongoing fallout from the Greek economic crisis continues to hit the economy with violent clashes between strikers and the authorities today. This comes at a time when the Greek authorities are in deep discussions with the European Union ... Full Story>>

Posted Thu, 11/03/2010 - 21:19

John Lewis announces £151 million bonus pot

John Lewis announces £151 million bonus pot

Thursday 11th March 2010

John Lewis has today announced a £151 million bonus pot for the company's 70,000 staff with profits for the group as a whole up by 9.7% to £307 million last year. The company has proved resilient during the UK recession and the £151 million ... Full Story>>

Posted Thu, 11/03/2010 - 17:12

Aer Lingus fuels the fire of union wrath

Aer Lingus fuels the fire of union wrath

Thursday 11th March 2010

Aer Lingus has today announced plans to lay off 1,200 full and part-time cabin crew staff and rehire them on new contracts which will offer less pay, longer hours and potentially impact upon their long-term pension entitlements. This is the ... Full Story>>

Posted Thu, 11/03/2010 - 17:11

Are we entering a period of discontent in the UK employment market?

Are we entering a period of discontent in the UK employment market?

Thursday 11th March 2010

Yesterday's news that British Airways cabin crew will strike later this year over pay and conditions is concerning and today we also learned that the rail union The Transport Salaried Staffs Association is balloting members regarding a 0.8% ... Full Story>>

Posted Thu, 11/03/2010 - 07:49

FSA reconsiders worst-case scenario stress test for banking sector

FSA reconsiders worst-case scenario stress test for banking sector

Wednesday 10th March 2010

Just a few months ago the Financial Services Authority (FSA) had a plan in place to test the strength of UK banks and UK financial institutions in the event of a nightmare scenario. The FSA had assumed a worst-case scenario of a peak to trough ... Full Story>>

Posted Thu, 11/03/2010 - 07:48

British Airways poised for cabin crew strike

British Airways poised for cabin crew strike

Wednesday 10th March 2010

Despite the fact that just 24 hours ago it appeared that British Airways was on the verge of an agreement with the Unite union, to avoid a crippling strike by cabin crews, the situation has turned full circle today. It has been revealed that ... Full Story>>

Posted Wed, 10/03/2010 - 21:46

Industrial output in the UK fell in January

Industrial output in the UK fell in January

Wednesday 10th March 2010

Despite hopes that industrial output in the UK in January would show a 0.3% rise, figures from the Office of National Statistics today show there was actually a 0.4% decline in industrial output compared to December. While there are number of ... Full Story>>

Posted Wed, 10/03/2010 - 21:45

UK banks under pressure to confirm number of high earners

UK banks under pressure to confirm number of high earners

Wednesday 10th March 2010

Lord Myners, the City minister, will today put forward proposals which will go further than many had expected on the subject of remuneration and salaries in the financial sector. It is believed that he will put forward plans to reveal how many ... Full Story>>