Train maker Bombardier has today revealed it will axe 1,400 jobs at its plant in Derby. The job cuts are attributed to the company losing out to Siemens on the £1.4 billion Thameslink contract. Its Derby operations has a workforce of 3,000 and the company said 446 permanent jobs and 983 temporary staff will go. [...]
Brazil appears to be bucking the trend after creating 1.3 million jobs last year – when other economies have battling with rising unemployment. The economy has been going from strength to strength, growing by an annualised rate of 5%. The country’s labour minister expects to create a further 2 million jobs in 2010 and, as [...]
Pfizer has announced plans to reduce its global headcount by 6,000 over the next five years as part of a major restructure. The company, which is the world’s largest drug maker, said the jobs represent almost a fifth of its workforce and said it will also close manufacturing sites in Ireland and scale back operations [...]
The UK’s second-largest drug maker, AstraZeneca, has announced plans close a research centre near Loughborough, Leicestershire. The drug giant is one of Leicestershire’s major employers and the move will result in the loss of more than 1,000 jobs. Furthermore, a smaller facility in Cambridge is to close and are part of plans to axe 8,000 [...]
US food giant, Kraft, has confirmed it will close Cadbury’s Somerdale plant near Bristol with the loss of 400 jobs. Cadbury has a UK workforce of 4,500, including 2,500 at its historic Bournville factory in Birmingham and 400 at its headquarters in Uxbridge. The move comes after the 186-year-old iconic British confectioner, renowned for Dairy [...]
Motor parts manufacturer Bosch has announced plans to close its site in Miskin, near Cardiff, in summer 2011 which will result in the loss of approximately 900 jobs. The decision follows three months of consultation and the firm has now decided to recommend complete closure of the plant and is said to be transferring the [...]
Britain’s largest Steelmaker Corus has announced today it is to close its Teesside Cast Products factory by the end of January, leaving 1,700 people jobless. The steel giant announced 3,500 job losses (with 2,000 in the UK) back in June and has been hit by a slump in demand. It produces 20 million tonnes of [...]
Jaguar Land Rover has confirmed it is to shut one of its sites in the West Midlands due to a restructure of its operations. The group will decide next year whether it will close its Castle Bromwich plant in Birmingham or its Range Rover factory in Solihull. While the closure of the plant is not [...]
Struggling car maker Jaguar Land Rover is to reduce its workforce at its Halewood factory in Merseyside as the company plans to cease production of its X-Type model. The global economic downturn has resulted in a slump in demand for big-ticket items, such as cars. This has affected carmakers worldwide with many cutting back on [...]
Steel producer Corus may cut 2,000 jobs at its Teesside Cast Products plant after four international slab buyers, Marcegaglia, Dongkuk Steel Mills, Duferco Participations Holding and Alvory, have terminated a 10-year supply contract. As their main customers, the consortium have failed to fulfil their part of the contract which has been signed for ten years [...]
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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