Tag: Lord Mandelson

British jobs secured as Nissan electric car to be built in Sunderland

British jobs secured as Nissan electric car to be built in Sunderland

Japanese carmaker Nissan has announced it will build its electric car at its Sunderland plant. The announcement will safeguard hundreds of jobs when production begins in 2013 – as part of a £420 million investment from Nissan. Meanwhile, Trevor Mann at Nissan said the Government had played a major part in the carmaker’s decision to […]

March 18, 2010 More
Cadbury shareholders vote in favour of Kraft takeover

Cadbury shareholders vote in favour of Kraft takeover

Cadbury shareholders have today voted in favour of the £11.5 billion ($18.9 billion) takeover deal from US giant, Kraft Foods. Today’s vote brings an end to Kraft’s five-month battle to take control of the 186-year-old British confectioner. Cadbury said it had received valid acceptances of the offer from shareholders representing 71.7% of the company. Commenting […]

February 2, 2010 More
Scrappage scheme reaches halfway mark

Scrappage scheme reaches halfway mark

Official figures released today show that orders for the scrappage scheme have reached 154,927. £300 million was put aside from the Government, along with the matched funding from manufacturers – enough to fund 300,000 transactions. Consequently, over half of the money within the scheme has been spent. The Government’s car scrappage scheme, branded ‘bangers for […]

Car scrappage scheme gives sales a ‘major boost’

Car scrappage scheme gives sales a ‘major boost’

New figures out today show that more than 35,000 vehicles have been ordered through the Government’s car scrappage scheme since its launch on 18 May. The scheme, which was introduced to boost the fall in demand for new cars, pays consumers to get rid of their old cars and replace it with a more environmentally […]

Minimum wage to rise from October

Minimum wage to rise from October

The Government has announced that the UK minimum wage will rise by 7p to £5.80 an hour from October, despite warnings to freeze the hourly rate. According to the Government, almost one million people will benefit from the increase and the 7p an hour rise applies to workers aged 22 and over. In the meantime, […]

UK parents to get increased working flexibility

UK parents to get increased working flexibility

The Department for Business, Enterprise and Regulatory Reform has announced that there will be an extension of current legislation, whereby employees with children under six or disabled children had a statutory right to request flexible working, and this has now been extended to anyone with children under 16. The Trades Union Congress has welcomed the […]

RBS warned over large bonuses

RBS warned over large bonuses

Business Secretary Lord Mandelson has warned the Royal Bank of Scotland (RBS) about its intention of offering “exorbitant” bonuses to staff. According to a report in The Times today, RBS plans to pay staff tens of millions of pounds in bonuses. In 2007, the investment banking arm of RBS, a division known as global banking […]

Post Office to expand banking services

Post Office to expand banking services

Business Secretary Lord Mandelson is understood to be in full support of extending financial services at the UK’s 12,000 Post Offices. The Department for Business Enterprise and Regulatory Reform (BERR), led by Lord Mandelson, is in favour of creating a ‘People’s Bank’, which will see Post Office outlets as the backbone of a new national […]

Lord Mandelson unveils £2bn package for UK’s struggling car industry

Lord Mandelson unveils £2bn package for UK’s struggling car industry

This afternoon, Business Secretary, Lord Mandelson, unveiled a rescue package of £2.3 billion for the UK’s ailing car industry. The package comes after months of pressure on the Government to take action after the Society of Motor Manufacturers and Traders (SMMT) warned that the industry was “battling” for its survival. Many car manufacturers have been […]

Mandelson to reveal plans to boost car industry

Mandelson to reveal plans to boost car industry

Business Secretary, Lord Mandelson, will this afternoon unveil plans to help the struggling car industry since the economic downturn has meant that car sales have plummeted in recent times. However, No. 10 have said that the support is ‘not a bailout’ but is expected to include measures such as guarantees for loans to the industry […]

Mandelson unveils plans to kick-start lending for businesses

Mandelson unveils plans to kick-start lending for businesses

Business Secretary Lord Mandelson has today unveiled the Government’s plan to kick-start lending for small and medium-sized businesses to help them weather the economic downturn. The Government has announced measures to guarantee up to 50% of up to £20 billion worth of loans. Companies with an annual turnover of up to £500 million will be […]

Plans underway to boost lending to businesses

Plans underway to boost lending to businesses

Business Secretary Lord Mandelson is set to unveil details of a loan which will kick-start lending to small businesses to help them weather the economic downturn. According to Lord Mandelson, the plans will target ‘genuine business needs‘. It is expected that Lord Mandelson will announce support for up to £10 billion in short-term loans for […]

MPs urges banks to pass on interest rate cuts

MPs urges banks to pass on interest rate cuts

Last month, in a co-ordinated move with other banks, the Bank of England’s Monetary Policy Committee (MPC) slashed UK interest rates from 5% to 4.5%. Central banks in the US, Japan and China have all cut interest rates in the last week in a bid to fight off a recession. Many analysts believe that the […]