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12th of March 2011
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News Tag: further

March 7, 2011

Moody’s slash Greece’s credit rating further

by Kay Murchie

March 4, 2011

US unemployment rate drops further to 8.9%

by Kay Murchie
The Labor Department has today revealed the unemployment rate in the US has fallen again from 9% in January to 8.9% in February. It represents the third consecutive month that the rate has fallen with the economy creating 192,000 jobs in the month - far better than expectations. However, the total number of unemployed people is currently at 13.7 million - ...

January 21, 2011

Further strike action at British Airways

by Kay Murchie
The merger between British Airways and Spanish airline, Iberia, was completed today - creating Europe’s second largest airline. However, the deal will no doubt be overshadowed by the news that British Airways cabin crew have voted to strike again, the Unite union confirmed today. Unite said its members voted by 5,751 to 1,579 to take further strike action but dates for the action ...

December 14, 2010

BA cabin crew to be balloted next week

by Kay Murchie
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 for thousands of staff, as ...

November 29, 2010

Further strikes expected at BA as crew face further ballot

by Kay Murchie
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 has cost their airline ...

November 22, 2010

London Underground faced with strikes in the build up to Xmas

by Kay Murchie
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 build-up to ...

October 7, 2010

400 more jobs to go at London Underground

by Kay Murchie
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 further strikes are planned for November over ...

October 5, 2010

Moody’s warns of further Irish downgrade

by Kay Murchie
Moody's warns of further Irish downgrade
Credit rating agency, Moody’s, today warned it may downgrade Ireland’s credit rating again, due to its ailing banking system. In addition, the agency said weak economic growth and rising borrowing costs could lead to the further cut. In July, Moody’s cut Ireland’s sovereign bond rating to Aa2 from Aa1. Other agencies, Standard & Poor’s and Fitch Ratings put Ireland’s rating at AA ...

October 4, 2010

Former BoE Governor warns against further QE

by Kay Murchie
The former deputy Governor of the Bank of England, Sir John Gieve, has today warned against further quantitative easing (QE). QE, also known as printing money, is a process whereby the Treasury injects funds into the financial system to ease pressure on banks by giving them extra capital. The Bank embarked on its £200 billion QE programme in March 2009, when ...

September 27, 2010

Japanese exports slow further in August

by Kay Murchie
Government data has today revealed a further slowdown in Japanese exports in August - the sixth consecutive month in which they have eased. The figures raise concern that the economic recovery is faltering. Exports rose 15.8% in August to 5.22 trillion yen on an annual basis - well below the 45.3% high seen in February. Meanwhile, imports rose 17.9% to 5.12 trillion yen, ...

July 13, 2010

UK inflation eases to 3.2% in June

by Kay Murchie
The Office for National Statistics (ONS) has today announced Consumer Price Inflation (CPI) eased further to 3.2% in June - down from 3.5% in May. However, the rate was slightly higher than the 3.1% economists expected but has eased from the 17-month high of 3.7% in April. While the level still far exceeds the 2% target, Mervyn King of the ...

June 9, 2010

BA cabin crew prepare for new strike ballot

by Kay Murchie
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 ballot will be carried out ...

Turnaround plan sees further 650 jobs go at Northern Rock

by Kay Murchie
Nationalised Northern Rock has announced it will axe a further 650 jobs by the end of the year as it prepares to return to the private sector. The reduction in headcount is part of the bank’s radical turnaround plan and comes just one week after it said it is to close its banking operation in Guernsey in September. ...

June 2, 2010

500 further jobs set to go at RBS

by Kay Murchie
Royal Bank of Scotland (RBS), which is 84% state-owned, has today announced it will axe a further 500 positions within its wealth management division, as part of its three-year restructuring plan. Since its bailout at the height of the financial crisis, the bank has shed approximately 23,100 jobs and today’s announcement comes less than a month after the bank ...

May 10, 2010

BA cabin crew to strike again next week

by Kay Murchie
The Unite union has today 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 last week, which sought to ...

May 7, 2010

Further strikes possible at BA as cabin crew reject offer

by Kay Murchie
The Unite union has said more strikes are possible at British Airways after it "strongly recommended" cabin crew members to reject the latest offer from the airline in a ballot. The offer from BA was aimed at ending a long-running dispute over cost-cutting measures, which include a pay freeze and a switch to part-time working for thousands ...

May 6, 2010

Freddie Mac seeks further $10.6bn bailout

by Kay Murchie
Freddie Mac seeks further $10.6bn bailout
US mortgage giant Freddie Mac, which was taken over by regulators at the height of the financial crisis, has asked for a further $10.6 billion in state aid. The company, which announced a $6.7 billion dollar loss in the first quarter, said it would need the new funding by the end of June. The latest request brings the total cost of Freddie ...

March 18, 2010

Hundreds more jobs set to go at the Land Registry

by Kay Murchie
According to The Times, the Land Registry is to axe a further 800 jobs, on top of the 1,500 job losses it announced last October. The Registry, which has 20 offices across the country and covers England and Wales and records and guarantees the ownership of domestic and commercial property, said staff would fall further to 4,200 in ...

February 23, 2010

PwC report reveals more job woes

by Kay Murchie
A report from accountants PricewaterhouseCoopers (PwC) has revealed more disappointment in the jobs market despite the UK emerging from recession in the fourth quarter of 2009. The report, which is based on interviews with bosses of 70 of the country's largest companies, found that 28% of bosses are planning redundancies over the next year. The findings will undoubtedly cause concern to private sector ...

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