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 [...]
The planned postal strikes for today and Monday have been called off after the Royal Mail and the Communication Workers Union (CWU) agreed to continue talks but would halt any strike action until the New Year. Details of the agreement reached between both sides are due to be released today. According to TUC leader, Brendan [...]
The second wave of postal strikes started at 0400 BST today. Almost 80,000 delivery and collection staff will walk out for a 24-hour period and follows the walkout yesterday of 42,000 mail centre staff and drivers. The Communication Workers Union (CWU) said it had no choice but to announce the series of strikes after it [...]
Royal Mail is in talks with the Communication Workers Union (CWU) in a bid to avoid the planned national postal strikes this week. However, according to a report by Sky News, Royal Mail said it will call in conciliation service Acas to try to resolve its industrial dispute if unions agree to call off the [...]
The Communication Workers Union (CWU) has today confirmed the dates for the national postal strike. Two 24-hour nationwide postal strikes will start on Thursday 22 October with around 42,000 centre staff and drivers on strike. On Friday 23 October, almost 80,000 delivery and collection staff will walk out for a 24-hour period. The CWU said [...]
Gender directive could slash men’s annuity payouts
The EU Gender Directive, which came into force today, could see men losing up to £10,000 from their annuity payouts, according to research by PricewaterhouseCoopers. Under the new rules insurers are no longer allowed to take gender into account when setting annuity rates and premiums on insurance products. Men previously enjoyed higher annuity rates than [...]
Home rental costs down in November
The cost of renting a house in England and Wales fell by 0.4 per cent in November, its first dip since March, according to a survey by LSL Property Services. Average rent was £741m during the month, returning to the level seen in September. However, it was 3.4 per higher than in November last year. [...]
Lloyds TSB halts sale of packaged accounts in branches
Lloyds TSB will stop selling packaged account in its branches from 1 January 2013, until its sales procedures are brought into line with those operated by sister bank The Halifax. Lloyds TSB is one of the main providers of packaged accounts in Britain, with around one in three of its customers choosing to pay fees [...]
Housing market recovery to continue next year
Recent improvements in the housing market should continue into next year, according to the Council of Mortgage Lenders (CML) Gross lending is estimated to have increased to £12.9 billion in November, helped by the Funding for Lending scheme which provides banks and building societies with lower-cost funding, which they are then supposed to pass on [...]
Newcastle Building Society exits interest-only mortgages
Newcastle Building Society has stopped offering interest-only mortgages to new borrowers, following the lead of the Royal Bank of Scotland, Nationwide, Co-operative bank and Coventry Building Society. The decision will not affect existing Newcastle customers and applications for interest-only mortgages received before 14 December will still be processed. Prior to the credit crunch, interest-only mortgages [...]
Less than half of Brits considered creditworthy
Fifty-seven per cent of UK adults are at risk of having an application for credit turned down by a mainstream lender according to a new report. The ‘Mind the Credit Gap‘ report commissioned by aqua credit cards suggests that even people with a good credit rating and earning more than £50,000 could have a credit [...]
Monthly incomes £22 lower in 2012
The average monthly income of UK households fell by £22 in real terms compared with last year, according to a survey carried out for the Bank of England (BoE) by NMG Consulting. People on lower incomes have seen their income eroded more than higher earners and households still have high levels of debt the BoE [...]
Savers dig deep to fund Christmas
New research from the Halifax suggests that savers are funding their Christmas spending with money set aside for other purposes. Thirty-seven per cent of 2,138 savers surveyed by the bank at the end of November had withdrawn savings in the last three months. The average amount withdrawn was £1,186, more than double the average savings [...]
Financial data at risk from unsafe passwords
According to a survey by the Payments Council the problem of having to remember a different password for several accounts means that many internet users are compromising the security of their financial data. Internet users have 22 password-protected accounts on average and many use the same log-in details for more than one account, even though [...]
Wonga launches Paylater loans on retailer website
Payday loan company Wonga has launched a new Paylater service on furniture firm Cotswold Company’s website. The service, which allows customers to “buy now, pay later” will be introduced on other retailers’ sites in the near future. Although the Paylater branding is similar to Wonga’s, the Wonga name only appears in the small print. A [...]
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