Tag: agreement

US reach agreement on raising US debt ceiling

US reach agreement on raising US debt ceiling

US President Barack Obama has announced Republican and Democratic leaders have come to an agreement on raising the Government debt ceiling to avoid defaulting on its debt. “I want to announce that the leaders of both parties in both chambers have reached an agreement that will reduce the deficit and avoid default, a default that [...]

August 1, 2011 | 0 Comments More
Euro zone summit approves fresh Greek bailout

Euro zone summit approves fresh Greek bailout

Euro zone leaders met in Brussels yesterday and have agreed a further €109 billion (£96.3 billion) bailout for debt-laden Greece. A further €135 billion will come from the private sector during the next three decade, which will include a debt buy-back programme. Stock markets have risen today following the news with the Japan’s Nikkei closing [...]

July 22, 2011 | 0 Comments More
Germany and France reach agreement on second Greek bailout

Germany and France reach agreement on second Greek bailout

Late night talks between German Chancellor Angela Merkel and French President Nicolas Sarkozy have led to a common position on a second bailout for Greece. After seven hours of talks in Berlin, sources said both parties had also discussed their efforts to prevent the debt crisis spreading through the rest of Europe. However, full details [...]

July 21, 2011 | 0 Comments 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
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
Tesco announces Chinese joint venture

Tesco announces Chinese joint venture

Retailing giant Tesco has today unveiled a new joint property venture in China, which will see it develop shopping malls, each built around one of the supermarket chain’s hypermarkets. The supermarket giant, which is the UK’s largest, will build hypermarkets in three shopping malls – in Shenyang, Xiamen and Fuzhou. The £170 million agreement will [...]

February 28, 2011 | 0 Comments More
Banks pledge to lend £190bn this year

Banks pledge to lend £190bn this year

After weeks of tense negotiations, Britain’s largest banks have agreed to lending targets and pay restraints. Chancellor George Osborne today announced that under the so-called Project Merlin, banks will lend around £190 billion to businesses this year - including £76 billion to SMEs. Last year, banks loaned £179 billion to businesses. The four financial institutions [...]

February 9, 2011 | 0 Comments More
Banks agree to lending targets and pay restraints

Banks agree to lending targets and pay restraints

Chancellor George Osborne is today expected to announce that a deal has been reached between the Government and the banks with regard to lending targets and restraints on pay. The report comes a day after Mr Osborne confirmed he is maintaining the levy on banks, raising an additional £800 million this year and £2.5 billion [...]

February 9, 2011 | 0 Comments More
Government to stand firm on bonuses

Government to stand firm on bonuses

As the bonus payment season draws near, Business Secretary Vince Cable has today warned banks that the Government will remain determined and not be “bullied”. Mr Cable added that the Coalition Government is in agreement on the subject of bonuses and said it will not be “bullied” by banks threatening to leave the UK as [...]

December 19, 2010 | 0 Comments More
EU agrees to set up permanent euro zone bailout fund

EU agrees to set up permanent euro zone bailout fund

At yesterday‘s EU summit, leaders agreed to establish a permanent mechanism to bailout any nation whose large public deficits threaten the 16-member euro zone. The agreement comes after Greece and Ireland have already been the recipients of multi-billion euro bailouts from the European Union and the International Monetary Fund. EU President Herman Van Rompuy said [...]

December 17, 2010 | 0 Comments More
Ireland’s rescue deal to be signed off

Ireland’s rescue deal to be signed off

The bailout package for Ireland has finally been signed off after days of negotiation between the Irish authorities, the EU, the European Central Bank and the International Monetary Fund (IMF). Full details of the rescue package, which is worth €85 billion (£72 billion), will be confirmed by the Irish Government once it has been approved [...]

November 28, 2010 | 0 Comments More
RBS signs agreement with China’s Guolian

RBS signs agreement with China’s Guolian

The Royal Bank of Scotland (RBS) has signed an agreement with Chinese group, Guolian Securities. The venture is part of the bank‘s expansion in the fast-growing Asian economy. RBS, which is 83% owned by the taxpayer, has recently been selling assets under the orders of the European Commission, as a punishment of the billions of [...]

September 17, 2010 | 0 Comments More
Santander acquires SEB’s German business

Santander acquires SEB’s German business

Spanish banking giant Santander has agreed to purchase Swedish bank SEB’s German business for €555 million (£466.5 million). SEB, which is Sweden’s third-largest bank in terms of market capitalisation, acquired its German retail banking business ten years ago and had planned to sell it in 2008. However, the sale was delayed due the global financial [...]

July 12, 2010 | 0 Comments More
British Airways and Iberia sign merger deal

British Airways and Iberia sign merger deal

It has been confirmed that British Airways (BA) and Spanish airline Iberia have signed a deal to merge their operations. The merger, which was provisionally agreed last November, will be finalised this year and is set to create one of the world’s largest airline groups, flying to more than 200 destinations The new company, which [...]

April 8, 2010 | 0 Comments More
EU summit agrees bailout for Greece

EU summit agrees bailout for Greece

The two-day EU summit, which commenced in Brussels today, saw a deal reached to help Greece through its debt crisis. According to Brussels, the package (which has yet to be approved by other euro zone nations) will total €23 billion (£21 billion) and will include help from the International Monetary Fund (IMF). The two-day summit [...]

March 25, 2010 | 0 Comments More
Possible strike action at BA as talks fail

Possible strike action at BA as talks fail

Talks aimed at averting industrial action at British Airways (BA) have collapsed and failed to reach an agreement. Brendan Barber, general secretary of the Trades Union Congress, said: “Despite a prolonged period of negotiations it has not been possible to reach agreement between BA and Unite.” Last month, BA‘s 12,000 cabin crew members voted to [...]

March 11, 2010 | 0 Comments More
Japanese Government to double credit line for JAL

Japanese Government to double credit line for JAL

Struggling Japan Airlines (JAL) has had its credit line doubled to 200 billion yen (£1.3 billion) after an agreement by the Japanese Government today, according to Kyodo news agency. The extra funding was agreed by Deputy Prime Minister Naoto Kan, Transport Minister Seiji Maehara and other ministers at a meeting this weekend. A statement said: [...]

January 3, 2010 | 0 Comments More
G20 agreement sees shares rise

G20 agreement sees shares rise

Over the weekend, G20 finance ministers at St Andrews in Fife reached an agreement to maintain financial support until recovery is ensured. The agreement was reached following concerns over rising unemployment and unsteady growth which saw finance ministers from developing and rich countries vow to keep fiscal measures in place until global recovery is assured. [...]

November 10, 2009 | 0 Comments More
Royal Mail and CWU agree deal to avert further strike action

Royal Mail and CWU agree deal to avert further strike action

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 [...]

November 6, 2009 | 0 Comments More
Tesco opens UK’s first self-service store

Tesco opens UK’s first self-service store

In a bid to speed up trips to the shops, supermarket giant Tesco has opened the first self-service store in Northampton. The Tesco Express store has five self-service tills but no manned checkouts. There is, however, one member of staff available to authorise transactions for age-restricted items such as alcohol and knives. The news will [...]

October 22, 2009 | 0 Comments More