It has been confirmed by the Unite union that members of British Airways (BA) cabin crew will be balloted next week, raising fears for further strikes in the New Year. Cabin crew have been involved in a 22-month-old dispute with the airline over cost-cutting measures, which include a pay freeze, a switch to part-time working [...]
Members of British Airways (BA) cabin crew are to be balloted again as the long-running dispute with the airline continues over cost-cutting measures. The Unite union claims BA refuses to reinstate travel perks, which were stripped from members during a strike in March. So far, cabin crew members have held 22 days of strikes which [...]
Portugal came to a standstill today after its biggest strike in more than 20 years as workers protested against the Government’s austerity measures. The Government has introduced massive spending cuts and tax hikes, which are currently being pushed through parliament. They are aimed at bringing the budget deficit down to 4.6% next year, from the [...]
There are fears of further strikes on the London Underground (LU) after the Rail Maritime and Transport Union (RMT) claims two workers are being unfairly treated by management and facing disciplinary action. As a result, hundreds of workers are to be balloted for strikes over the dispute with action expected to be taken in the [...]
Chancellor George Osborne will today reveal the Comprehensive Spending Review. He is set to provide details of how he intends to slash spending by £83 billion by 2014 as he endeavours to bring down the spiralling budget deficit. The cuts have received mixed responses; many have been critical of them warning that slashing the deficit [...]
British Airways (BA) chief executive, Willie Walsh, has today said the airline is ready to operate a near-full service should further industrial action take place. Cabin crew have been in a long-running dispute with the airline over cost-cutting measures, which include a pay freeze, a switch to part-time working for thousands of staff, as well [...]
London Underground (LU) has today announced it will axe a further 400 office and management jobs. LU says it is reviewing all non-frontline services in a bid to cut costs. The announcement comes after unions were enraged over the loss of 800 ticket office jobs, which has led to industrial action on the underground. Two [...]
Official figures have today revealed the Greek economy contracted more than originally anticipated in the April to June period. The economy, which is still in a deep recession, contracted by 1.8% in the second quarter – rather than the first estimate of 1.5%. The contraction was worse than expected and follows the 0.8% fall in [...]
British Airways (BA) today announced losses widened after the airline was hit by disruption from the volcanic ash cloud and cabin crew strikes. The company said pre-tax losses widened 10.8% to £164 million for the three months to the end of June, compared with the £148 million loss it made in the same period a [...]
Further concerns for euro zone debt was raised today after the national statistics bureau INSEE said France’s public debt rose to 80.3% of national output in the first quarter of the year. EU rules state that debt should not exceed 60% of GDP. According to INSEE, at the end of March, French gross public debt [...]
Italian workers are the latest to stage strikes amid tough austerity measures, introduced by the country’s Government to bring its budget deficit down. The union, CGIL, called the strike, after cuts were made in funding for local Government, as well as the freezing of public sector pay. Protests were held in Rome, Milan and Bologna, [...]
The Unite union, which represents British Airways (BA) cabin crew, has confirmed a fresh ballot for its members, suggesting further industrial action at the airline. The news comes as cabin crew stage their final day of a series of strikes. The strikes took place on: 24-28 May, 30 May-3 June and 5-9 June. The fresh [...]
Spanish public sector workers will go on strike today to protest against austerity measures, which include average cuts this year to public workers’ salaries of 5%. As well as a 5% cut for civil servants, there will be severe cuts in public investment and development aid. Today’s strikes, which have been set up by Spain’s [...]
Spain’s Government has passed the €15 billion (£13 billion) austerity plan, which has been implemented to deal with the country’s deficit, which is currently 11% of GDP. Spain aims to reduce the deficit to 6% by 2011, which involves a 5% cut for civil servants. Deputy Prime Minister, Maria Teresa Fernandez De la Vega, acknowledged [...]
British Airways, which is facing fresh strikes over the next few weeks, has today reported a record £531 million annual loss. The latest results, which cover the 12-month period to the end of March, include the estimated £40 million loss from the cabin crew strikes which took place during the month. However, they do not [...]
It was announced today that the Unite union was victorious in appealing against an injunction, which prevented British Airways (BA) cabin crew from taking industrial action this week. However, the union has today said it will commence a series of five-day strikes starting Monday, unless an agreement can be reached. Cabin crew have been involved [...]
On Monday night, it was announced that British Airways (BA) was successful in preventing the latest series of strikes by its cabin crew staff. Mr Justice McCombe of the High Court ruled in favour of the airline and said the decision was based on a technicality. However, the Unite union described the decision “an absolute [...]
Passengers will breathe a sigh of relief this morning after British Airways (BA) was successful in preventing the latest series of strikes by its cabin crew staff. The Unite union had announced that cabin crew would strike for four separate five-day strikes in May and June – the first strike was due to start today. [...]
Last week, the Unite union announced cabin crew members at British Airways (BA) will strike for four separate five-day strikes in May and June. The further industrial action comes after Unite members rejected a fresh deal for cabin crew earlier this month. Unite said 81% of the cabin crew it represents voted against BA’s offer, [...]
Shares have fallen across Britain, Europe and the US today after concerns about austerity measures in Greece, Portugal and Spain have re-surfaced. The euro also fell against the US dollar to $1.25 – the first time since March last year. The euro has already shed 12% this year against the dollar and is set to [...]
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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