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18th of July 2011
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News Tag: decision

July 12, 2011

Cheques will not be scrapped, say Payments Council

by Kay Mitchell
”Cheques
It has been announced today that cheques will not be phased out after the Payments Council announced it would abolish them in 2018. The Council has now decided to keep them after criticism from MPs and charities and was forced to make the u-turn after pressure from the public. Richard North, the chairman of the Payments Council, said: "It's in the ...




June 20, 2011

European stocks down on Greece loan decision

by Kay Mitchell
”European
Euro zone finance ministers have failed to reach an agreement on Greece’s next loan instalment of €12 billion, which has sent European stocks down – with banking shares hit hardest. Ministers met in Luxembourg yesterday but delayed their decision on the fifth instalment of Greece’s €110 billion loan until the country introduces further austerity measures. A statement issued by the ministers ...




November 3, 2010

BoE expected to keep interest rates and QE on hold

by Kay Mitchell
’BoE
The Bank of England’s Monetary Policy Committee (MPC) is tomorrow expected to keep UK interest rates on hold at the historically low level of 0.5%, where they have been since March 2009. Furthermore, it is expected to hold off, for the short-term at least, with its quantitative easing (QE) programme. Recent strong data from the British economy suggests that ...




September 8, 2010

BoE expected to keep interest rates on hold tomorrow

by Kay Mitchell
’BoE
The Bank of England’s Monetary Policy Committee (MPC) is tomorrow expected to keep UK interest rates on hold at the historically low level of 0.5% for the 19th consecutive month. Many economists expect no movement on interest rates until early 2011. Meanwhile, all nine members of the MPC are expected to keep the quantitative easing programme (QE) on hold. However, ...




June 9, 2010

BoE expected to keep interest rates on hold despite inflation concerns

by Kay Mitchell
’BoE
The Bank of England’s Monetary Policy Committee (MPC) is tomorrow expected to keep UK interest rates on hold at the historically low level of 0.5% for the 16th consecutive month. Furthermore, all nine members of the MPC are expected to keep the quantitative easing programme (QE) on hold. QE, also known as printing money, is a ...




May 19, 2010

BA union Unite threaten summer of strikes

by Kay Mitchell
”BA
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 disgrace" and is now appealing against ...




April 22, 2010

Base rate setters unanimous in April

by Gill Montia
Base rate setters unanimous in April
The Bank of England's Monetary Policy Committee has published the minutes of its April rate-setting meeting which reveal that the decision to keep the base rate at its historic low of 0.5% was unanimous. The minutes state: "All members agreed that the events of the past month had not been significant enough to substantially alter their views of the medium-term outlook for ...




February 2, 2010

Australia surprises with interest rate freeze

by Kay Mitchell
”Australia
The Reserve Bank of Australia (RBA) has stunned the markets by electing to keep interest rates on hold at 3.75%. The RBA has increased interest rates three times since October and many analysts said interest rates could hit 4.25% in the short-term. Australia is one of the few developed economies not to have fallen into recession like its counterparts throughout the world. The economy ...




January 7, 2010

BoE widely expected to leave interest rates at 0.5% today

by Kay Mitchell
”BoE
The Bank of England’s Monetary Policy Committee (MPC) is today expected to keep UK interest rates on hold at the historically low level of 0.5% for the tenth month in a row. In addition, there is unlikely to be any change with regard to its quantitative easing (QE) scheme but growing signs that the UK has finally exited ...




December 16, 2009

Future of the cheque book to be decided today

by Kay Mitchell
”Future
The use of the cheque book continues to decline as consumers opt for quicker payment methods and, as a result, the cheque clearing system could end by 2018. Major retailers such as Tesco and Sainsbury’s no longer accept cheques, arguing that phasing out the use of cheques in stores resulted in quicker service and improved security for consumers. ...




November 25, 2009

Unfair bank charges - Supreme Court to decide today

by Kay Mitchell
”Unfair
The ongoing legal battle between seven high street banks and one building society could reach a conclusion today. The Supreme Court will decide whether the Office of Fair Trading (OFT) has the power to assess whether or not bank charges are fair. The case, which has been ongoing for more than two years, could see banks refund millions of pounds ...




November 17, 2009

Wednesday 25 November is judgement day

by Kay Mitchell
”Wednesday
The ongoing legal battle between eight high street banks and the Office of Fair Trading (OFT) over unauthorised overdraft charges might actually reach a conclusion next week. Wednesday 25 November is the date that has been set for the Supreme Court to decide whether the OFT has the power to assess whether or not bank charges are fair. Banks and building societies were ...




November 5, 2009

Thousands of Opel workers in protest after GM u-turn

by Kay Mitchell
”Thousands
The announcement that US car giant General Motors (GM) abandoned plans to sell a majority stake in its European car business Opel, including its UK brand Vauxhall, has led to a protest by thousands of the 25,000 workers at Opel's four factories. In March, GM announced plans to offload Vauxhall and sister company, Germany-based Opel, and finally agreed to ...




September 25, 2009

High Court rules workers can be forced to retire at 65

by Kay Mitchell
High Court rules workers can be forced to retire at 65
A High Court judge has today ruled that employers are still able to dismiss workers when they reach the age of 65. Currently, the law means that a British worker can have their employment terminated at the age of 65 without redundancy payments - even if they do not want to retire. Furthermore, an employer can ...




August 19, 2009

Lloyds to ‘review’ shutdown of Cheltenham & Gloucester

by Kay Mitchell
”Lloyds
It has been announced that banking giant Lloyds Banking Group is reviewing its decision to close down its Cheltenham & Gloucester (C&G;) subsidiary. In June, the mega-bank said it was closing all of its 160 UK C&G; branches with the loss of hundreds of jobs but the decision may now be reversed. The u-turn has been welcomed by the Unite ...




April 25, 2008

Decision is made on unfair bank charges

by Kay Mitchell
”Decision
A decision has been made on the case between the Office of Fair Trading (OFT) and the eight major High Street banks over unfair bank charges. Mr Justice Andrew Smith decided that OFT can rule on the fairness of the charges, which many customers have been trying to reclaim. The judgment by Mr Justice Andrew Smith allows the OFT to begin ...




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