Tag: changes

Public sector workers protest against pension reforms

Public sector workers protest against pension reforms

A 24-hour strike is underway in the UK as public sector workers protest against pension reforms. The Public and Commercial Services (PCS), which is Britain’s largest civil service union, as well as three teaching unions, are protesting against changes to their pensions. The industrial action will result in Britain’s worst strike for decades and will [...]

June 30, 2011 | 0 Comments More
Santander reports fall in net profits

Santander reports fall in net profits

Spanish banking giant Santander has today reported a fall in 2010 net profits, due to changes on bad loan provisions. The bank, which is the euro zone’s largest, said net income fell to €2.1 billion from €2.2 billion a year earlier. Before the changes to one-off provisions, which were put in place as a precautionary [...]

February 3, 2011 | 0 Comments More
HSBC announces changes at the top

HSBC announces changes at the top

Banking giant HSBC has announced some changes to its management team. The announcement is part of a boardroom reshuffle under incoming group chief executive, Stuart Gulliver, who is set to replace Michael Geoghegan next year. Paul Thurston will assume the role of Chief Executive, Retail Banking and Wealth Management with effect from March 2011. His [...]

November 28, 2010 | 0 Comments More
Firemen demand action to end dispute

Firemen demand action to end dispute

Firefighters will go ahead with industrial action over the crucial bonfire night weekend after talks collapsed between the Fire Brigades Union (FBU) and the London Fire Authority yesterday. The strike, which will take place from 10am on November 5 to 9am on November 7, incorporates Bonfire Night – the fire service’s busiest period. Members embarked [...]

October 28, 2010 | 31 Comments More
Pension tax relief slashed as Government looks to save more money

Pension tax relief slashed as Government looks to save more money

It has been announced that the Government is to reduce the annual amount of pension tax-free income in order to save £4 billion a year, to reduce the spiralling budget deficit. The tax-free amount is being slashed from £255,000 a year to £50,000 from April 2011. High earners will continue to be paid tax relief [...]

October 14, 2010 | 0 Comments More
Government announces incapacity benefit changes

Government announces incapacity benefit changes

As part of the coalition Government’s welfare crackdown, Iain Duncan Smith, Work and Pensions secretary, has today announced that those on incapacity benefit will be forced to undergo medical tests. The tests, which will be trialled in Burnley and Aberdeen from today, will be rolled out throughout the country from next April. The move, which [...]

October 11, 2010 | 1 Comment More
Lord Hutton calls for changes to public sector pensions

Lord Hutton calls for changes to public sector pensions

An independent commission led by Lord Hutton (the former Labour Work and Pensions Secretary) has called for a change to final salary pensions for the public sector. The 174-page report comes after Chancellor George Osborne asked Lord Hutton to carry out an investigation into where savings can be achieved. Mr Osborne has previously said the [...]

October 7, 2010 | 0 Comments More
HSBC confirms boardroom changes

HSBC confirms boardroom changes

Banking giant HSBC has this weekend confirmed several boardroom changes after days of speculation. The bank, which is Europe’s largest, confirmed that its chief executive, Michael Geoghegan, will be replaced by investment banking chief Stuart Gulliver. Meanwhile, outgoing chairman Stephen Green (who is moving on to take up the post of trade minister with the [...]

September 26, 2010 | 0 Comments More
AA staff vote for industrial action

AA staff vote for industrial action

Workers at motoring group AA have voted in favour of going on strike in a row over pensions. The AA’s management wants to put a cap on annual rises in pensionable salaries, to raise employee contributions and also to cut the maximum annual increase in pensions paid. The final-salary scheme is already closed to new [...]

April 7, 2010 | 0 Comments More
Tree houses – planning consent required?

Tree houses - planning consent required?

Despite the Government’s declared intention to simplify planning regulations for home extensions and the like, parents erecting tree houses for their children’s play may now need to apply to their local authority for permission. According to a report in The Telegraph, changes in planning law from last October have jeopardised the position of the tree [...]

July 7, 2009 | 0 Comments More
New hope for SAMS mortgage holders

New hope for SAMS mortgage holders

Recent changes in the Consumer Credit Act 1974 mean that holders of Shared Appreciation Mortgages (SAMS) sold by HBOS and Barclays may be able to obtain compensation. SAMS were a form of equity release sold during the 1990s. They provided a loan secured against the future equity growth of a property. Under the arrangement, the [...]

October 1, 2008 | 0 Comments More