Telecoms giant BT has avoided strike action after reaching an agreement on pay with the Communication Workers Union (CWU). Workers were threatening strike action after senior executives were awarded huge bonuses which angered staff. However, a new deal, which the union has described as “fantastic” for its members resulted in a 2.3% rise in BT’s [...]
The union which represents BT workers has announced a strike ballot has been scrapped due to a legal issue. The vote for strike action came as senior executives were awarded huge bonuses which angered staff. The Communication Workers Union (CWU) said it was balloting members in support of a 5% pay rise after what it [...]
Telecoms giant BT could be faced with industrial action after the union which represents BT workers has confirmed that a strike ballot will go ahead. The ballot will open on 18 June with the result is due on 5 July. The vote for strike action, which would be the first in 25 years, comes as [...]
Telecoms giant BT could be faced with industrial action after top bosses have been awarded huge bonuses, which has angered staff. The possible strike action, which would be the first in 25 years, comes as a 2% pay offer was rejected by the Communication Workers Union (CWU), which is now planning to ballot its 60,000 [...]
Profits at telecommunications giant British Telecom (BT) plummeted in the six months to 30 September by 45%, as a result of its major restructure, which resulted in the loss of 15,000 jobs. The company, which increased its cost-cutting target for the year from £1 billion to £1.5 billion, made a pre-tax profit of £547 million [...]
The Confederation of British Industry (CBI) is urging the Government to deal with the growing levels of youth unemployment and is calling for £125 million of the Government’s £500 million recruitment subsidy fund to be spent on creating 50,000 new apprenticeships. The growing problem was highlighted last week by the Prince’s Trust and the University [...]
Last week, the Prince’s Trust and the University of Sheffield revealed challenging times for school leavers this summer. Professor Danny Dorling, from the University of Sheffield, said: “The rate of youth unemployment in the recession to come will depend almost entirely on what opportunities young people are offered.” The report pointed out that if the [...]
BT customers can now save an unlimited amount of money on their broadband and telephone bills by spending money on their BT credit card. BT will deduct one pence from a customer’s monthly phone bill for every £1.50 spent on their credit card, the telecoms operator said this week. Customers spending £1,000 per month on [...]
Telecoms giant BT has today announced plans to axe 15,000 jobs this year – with the majority being in the UK. The group also announced a full-year loss of £134 million due to a poor performance within its Global Services unit – which has written down £1.3 billion within the division. The loss of £134 [...]
M&S Money launches 3% cash ISA
M&S Money has launched an Advantage Cash ISA paying 3 per cent, and which allows transfers in from other ISAs. It can be opened with a minimum deposit of £100 lump sum followed by minimum monthly deposits of £25. The 3% rate is variable, but there is no short-term bonus so the return won’t plummet [...]
Google suspends UK Compare Mortgages site
Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected. Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site. Google was competing with several well-established comparison sites, including [...]
AA launches ‘black-box’ policy for young drivers
The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]
ATOL scheme updated to protect online bookers
ATOL, a financial protection scheme managed by the Civil Aviation Authority, is being extended to protect up to six million more holidays a year. The scheme ensures that holiday makers do not lose out financially if a travel company collapses, and that they are not stranded abroad. An increase in the number of holidays booked [...]
Home repossessions lowest for four years
The number of UK homes repossessed fell to 36,200 in 2011, significantly below the Council of Mortgage Lenders’ forecast of 40,000, and lower than 2010 when 37,100 homes were repossessed. With interest rates remaining low and lenders adopting a sympathetic attitude to customers in financial difficulty, repossessions fell to their lowest level since 2007. However, [...]
Monthly pay lasting just 17 days
Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank. This means that the average UK worker spends half the month worrying about money. The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start [...]
Women disadvantaged by auto-enrolment changes
Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]
Emergency household repairs company Homeserve is taking longer than expected to get back on track after its operations were suspended last October. The company expected customer numbers to fall by 5% this year but it has increased this estimate to 8% and announced the loss of 200 jobs. It estimates that renewal revenue in 2013 [...]
Sale rumoured for Yorkshire and Clydesdale banks
There is growing speculation that National Australia Bank (NAB) may sell Yorkshire Bank and Clydesdale Bank after the Australian parent company announced a strategic review of the two banks’ operations. The Australian economy is performing well and NAB reported strong profits for the final quarter of 2011 but with the UK economy at a virtual [...]
More women experiencing debt difficulties
Women in Debt, which offers female-focused debt advice, has warned that the number of UK women facing serious debt has grown significantly over recent years. The organisation believes that more women will need advice on solving debt problems in the future because they are building up an unsustainable level of indebtedness. Women in Debt’s director, [...]
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