Tag: talks

NBNK shares suspended amid merger talks

NBNK shares suspended amid merger talks

Shares in financial institution NBNK has had its shares suspended on AIM after it confirmed it is in merger talks. The bank, which is run by Gary Hoffman who is the former chief executive of crisis-torn Northern Rock, was established a year ago to make acquisitions and is set to build a significant presence in [...]

September 6, 2011 | 0 Comments More
S&P may downgrade US AAA rating

S&P may downgrade US AAA rating

Standard & Poor’s (S&P) has warned it may lower the US triple-A debt rating if a deal to lift the Government’s $14.29 trillion borrowing limit is not agreed soon. The news comes just one day after fellow ratings agency Moody’s said there is a risk of a possible downgrade. Both warnings come as tense negotiations [...]

July 15, 2011 | 0 Comments More
Moody’s may downgrade US AAA debt rating

Moody’s may downgrade US AAA debt rating

July 14, 2011 | 0 Comments More
EU officials in meeting to discuss euro zone contagion fears

EU officials in meeting to discuss euro zone contagion fears

European stocks were lower today after it emerged that top EU officials are meeting in Brussels to discuss the ongoing debt crisis in the euro zone. Germany’s DAX 30 lost 0.68% to 7,352.73, while France’s CAC 40 was down 0.89% to 3,878.60. London’s FTSE was 0.2% lower at 5,977.31. The meeting has been arranged as [...]

July 11, 2011 | 0 Comments More
Travel chaos looms as Virgin Atlantic pilots vote to strike

Travel chaos looms as Virgin Atlantic pilots vote to strike

Holidaymakers look set to have their summer travel plans disrupted after it emerged today that Virgin Atlantic pilots have voted for industrial action – the first time in the airline’s 32-year history. According to the British Airline Pilots Association (Balpa) union, 97% of its members voted for strike action after pay talks with the company [...]

June 21, 2011 | 1 Comment More
BA and union finally end bitter dispute

BA and union finally end bitter dispute

British Airways (BA) and the Unite union have finally come to an agreement to end their bitter dispute – which has been ongoing since November 2009. The agreement means the threat of strike action has been lifted. Cabin crew were involved in a bitter dispute with the airline for more than 18 months over cost-cutting [...]

May 12, 2011 | 0 Comments More
BA strike: Union members consider offer

BA strike: Union members consider offer

The long-running dispute between the Unite union and British Airways (BA) could come to an end following talks to avert further industrial action. Union members are understood to be meeting later today which could lead to an offer. Cabin crew have been involved in a bitter dispute with the airline since November 2009 over cost-cutting [...]

May 12, 2011 | 0 Comments More
China and US to hold talks over currency issues

China and US to hold talks over currency issues

China and the US are set to hold economic talks in Washington DC next month as the two countries endeavour to reach an agreement over currency issues. The State Department announced yesterday: “The third meeting of the U.S.-China Strategic and Economic Dialogue (S&ED) will be held in Washington, DC, May 9-10, 2011.” China has been [...]

April 26, 2011 | 0 Comments More
N&P fined for mis-selling Keydata products

N&P fined for mis-selling Keydata products

The Financial Services Authority (FSA) has today announced that it has fined the Norwich and Peterborough Building Society (N&P) £1.4 million for giving unsuitable advice on its Keydata products. The Watchdog said the group failed to properly assess the financial circumstances of many of its customers and often designated them as having a higher tolerance [...]

April 18, 2011 | 0 Comments More
Portugal bailout talks to commence today

Portugal bailout talks to commence today

Officials from the European Commission, the European Central Bank and the International Monetary Fund (IMF) are to meet in Lisbon today to discuss the terms of Portugal’s bailout. The bailout represents the third in the euro zone after Greece and Ireland, and will be finalised by mid-May. The €80 billion (£70 billion) rescue package comes [...]

April 18, 2011 | 0 Comments More
Portugal in bailout talks

Portugal in bailout talks

After months of speculation, it has been announced that Portugal will seek financial help. EU finance ministers are set to meet in Hungary this week when the bailout will be discussed. Portuguese borrowing costs rose to more than 10% this week – the first time since the introduction of the euro. A surge in borrowing [...]

April 7, 2011 | 0 Comments More
Yorkshire Building Society in talks with N&P

Yorkshire Building Society in talks with N&P

It has been revealed that Yorkshire Building Society is in talks with smaller rival Norwich and Peterborough (N&P) which could lead to an acquisition. The announcement comes after much consolidation in Britain’s mutual sector, as a result of funding pressures. Late last year, Coventry Building Society and Stroud & Swindon merged, creating a business with [...]

March 20, 2011 | 0 Comments More
HSBC again denies talks of relocation

HSBC again denies talks of relocation

HSBC, which is Europe’s largest bank, has once again denied rumours that it is planning to relocate its UK headquarters to Hong Kong. A report in the Sunday Telegraph quoted an unnamed, investor as saying “we were told that a move [to Hong Kong] is now more than likely”. However, the bank has refuted the [...]

March 6, 2011 | 0 Comments More
RBS in talks to leave APS early

RBS in talks to leave APS early

There is speculation that the Royal Bank of Scotland (RBS) is in talks with the Treasury about its early exit from the Government’s Asset Protection Scheme (APS). The scheme, which insurers against losses arising from toxic assets, was established in 2009 to boost confidence in the system following the financial crisis in autumn 2008. It [...]

January 21, 2011 | 0 Comments More
London Underground faced with strikes in the build up to Xmas

London Underground faced with strikes in the build up to Xmas

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 [...]

November 22, 2010 | 0 Comments More
Officials work to resolve Ireland‘s banking crisis

Officials work to resolve Ireland‘s banking crisis

There were fresh fears for the euro today after it emerged that the International Monetary Fund (IMF) could be called in to assist the euro zone in resolving the banking crisis in Ireland. Ireland’s Prime Minister, Brian Cowen, has again, however, reiterated that his country has not asked for emergency funds and said the economy [...]

November 16, 2010 | 0 Comments More
Euro zone ministers to meet in Brussels today

Euro zone ministers to meet in Brussels today

Euro zone finance ministers are heading to Brussels today to discuss Ireland’s debt crisis, which poses a risk to the 16-nation bloc. Ireland’s Government continues to reject claims that it is seeking emergency financial support via the EU rescue fund. However, the Irish Government has said it is in talks with European partners about how [...]

November 16, 2010 | 0 Comments More
Banks understood to be cutting bonus payments

Banks understood to be cutting bonus payments

A report by the BBC has revealed that Britain’s biggest banks are understood to be in talks about reducing the amount they receive in bonuses. Bonuses have been a major issue for some time now and have sparked public outrage since many argued that excessive bankers’ bonuses reward the risk-taking culture that led to the [...]

November 15, 2010 | 0 Comments More
G20 moves to resolve trade imbalances

G20 moves to resolve trade imbalances

The G20 group of nations have agreed to avoid “competitive devaluation” of currencies in what has been regarded as a tense summit in Seoul, South Korea. Most notably were the tensions between the US and China. The US has previously expressed dissatisfaction that China is keeping the value of the yuan low to help its [...]

November 12, 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