British Airways and Unite in secret talks
The British Airways management and the Unite union are this evening in secret last-ditch talks to try and cut short the ongoing cabin crew strike. The situation has reached critical point with the company stretched to the financial limit and the union seriously concerned about the future of many of their members. While earlier talks were inadvertently disrupted by protesters it seems that both parties are now ready to "bury the hatchet" and look to the future.
The longer this strike drags on the more damage it will do to the financial strength of British Airways, the reputation of the company, the employment situation and ultimately the long-term future of the company. British Airways recently announced a record loss of £500 million and while there is little concern in the immediate future regarding the company's ability to trade, when you take into account the difficult environment in the airline sector and the ongoing strike activity, which does not appear to be nearing an end, the situation is not perfect.
There are also rumours that strike activity is imminent with regards to the likes of British Telecom which could see the unions pitted against the UK government in what could become a very difficult and controversial power battle.
Share this..
Related stories
Irish authorities forced to redraft budget
The Irish authorities are today staring at a redraft of the country's budget amid signs that the banking sector will need more capital over the next few months. Despite the fact that the Irish authorities have already introduced major austerity measures in the light of the economic collapse over the last two years it seems that more cutbacks will be required and there is concern as to whether the...
Read MoreFSA chairman oversteps the mark
Lord Turner, the chairman of the FSA, has today angered the city with a suggestion that a new tax should be introduced on all financial transactions, aimed specifically at banks and financial institutions trading in the UK. While there has been some nervous backtracking since the comments were released to the press, the UK financial sector, UK government and the UK regulator are further apart than...
Read MoreGordon Brown warns America against protectionism
Gordon Brown has put himself on a collision course with the new US president in waiting Barrack Obama. Not only has he tried to ride roughshod over the US by attempting to claim the glory for the rescue package but he is also now suggesting that the US government is moving towards a period of protectionism which was last seen in the 1930s.
It seemed as though Gordon Brown was prompt...
MPs blame bankers for economic turmoil
Yet again the UK banking scene has come in for some significant criticism from MPs across all parties. Blaming a culture of "easy rewards", the fault for the current economic climate has been laid fairly and squarely at the door of the UK financial sector. However, this is now old news and many consumers across the UK are more interested in the future and how regulators will ensure we do not see a...
Read MoreBank of England warns that Eurozone problems could affect Britain
The latest threat to the UK economy appears to be coming from the Eurozone where the Greek economic crisis looks like spreading to the likes of Portugal and Spain. Mervyn King, the Gov of the Bank of England, has today suggested that a downturn in economic activity within the Eurozone will limit UK trade within Europe and could ultimately push the UK back into recession. On the back of these do...
Read More