Tag: banks

MANDELSON began his speech to the City of London magnates at the Mansion House last Wednesday night by declaring his continuing support for the...

The Bank of England Monetary Policy Committee yesterday cut interest rates from one per cent to a record low of 0.5 per cent. Interest rates...

TODAY the working class is fighting against a crisis-ridden capitalist system whose banks and industries have collapsed, and whose political leaders, such as the...

THE head of General Motors Europe warned yesterday that without government finance Vauxhall Luton and Ellesmere Port face immediate closure as ‘the obvious next...

THE developing world-wide economic crisis is now bringing the contradictions inside the EU together and sharpening them to the point of a massive transformation...

Tens of billions more pounds were wiped off the London Stock Exchange yesterday, in the wake of Lloyds Banking Group (LBG) reporting its HBOS...

YESTERDAY the Royal Bank of Scotland (RBS) announced the largest annual loss in UK corporate history of £24.1bn, made up of a £7.9bn trading...

The Communication Workers’ Union (CWU) held a 500-strong ‘Keep Royal Mail Public’ national rally before a bigger lobby of MPs on Tuesday against the...

US autoworkers union UAW and Ford have reached a tentative deal to modify terms of their agreement on the Voluntary Employee Beneficiary Association...

YESTERDAY the bourgeois media was full of the thoughts of police chiefs who are preparing for a ‘summer of rage’, and pointing to the...

Around 120,000 trade unionists and their supporters marched through Dublin on Saturday in defence of their jobs, wages, pensions and public services. The massive national...

THE Irish Congress of Trade Unions (ICTU) has called a national demonstration on February 21 at 2pm in Dublin to mobilise workers against...

HISTORY has played a huge joke on the Stalinist bureaucracy. Under the rule of Gorbachev and Yeltsin it thought that it would be able to...

THE Communication Workers Union will collect petitions and raise public awareness of the threats to privatise Royal Mail when it descends on Corby Town...

IN August 2005 800 Gate Gourmet workers were sacked by megaphone in the car park of the Heathrow company. The TGWU, led by Tony...

EX-BANKER and City financier, Sir David Freud, is Labour’s ‘Workfare’ programme architect. He drew up the plans to force single parents and all but the...

AT the centre of the current media drive to find out, identify, and persecute the individuals, whether bankers and/or politicians who are held to...

Rising unemployment is a national emergency declared the TUC yesterday after the government revealed that 150,000 workers had lost their jobs in the last...

THE Trades Union Congress (TUC) warned of a ‘national emergency’ yesterday as the latest unemployment figures were published, showing that UK unemployment rose to...

ED BALLS, the Schools Minister, and the former economics advisor to the Prime Minister, Gordon Brown, over the weekend dropped his political master right...

THE Royal Bank of Scotland was rescued with billions of taxpayers’ money after it made the biggest losses in the history of British banking,...

The Royal Bank of Scotland, which received a £20bn bail-out with taxpayers’ money, is to proceed with a £1bn payout in annual bonuses. This is...

Three of the top Greek banks have been downgraded by the economic agency Moody’s, after losing 70 per cent of their share price in...

OVER five hundred students and staff of the London Metropolitan University gathered outside the building in Holloway road in north London yesterday to protest...

LAST October the IMF predicted world output would increase by 2.2 per cent in 2009. Yesterday it changed its tune saying that world output...

SUPPORTED by the US, the UK and India the Sri Lankan army is bombing and shelling Northern Sri Lanka in a frantic, ruthless and...

STEEL firm Corus, a subsidiary of India’s Tata Steel cut 3,500 jobs yesterday, 2,500 in the UK out of its 24,000 employees here. ...

TRADE unions yesterday called on the government to bail out the manufacturing bosses in the wake of steelmaker Corus’ confirmation that it is cutting...

BRITISH capitalism is staring disaster straight in the face. Motor car sales in December 2008 were 47.5 per cent lower than in December 2007. Yesterday,...

‘We have to be bold and honest in our fight to stop Royal Mail privatisation,’ Communication Workers’ Union (CWU) Eastern Region Secretary Paul Moffat...

UK unemployment rose by 131,000 to 1.92 million between September and November, the highest total since September 1997, figures from the Office for National...

THE crash of the British banks continued yesterday after Royal Bank of Scotland declared a £27bn loss for 2008 on Monday and its share...

Today, January 20th, UNITE HERE will launch its UNITE HERE for Change campaign, an ‘effort to work with President Obama and Congress to make...

The government yesterday extended its stake in the Royal Bank of Scotland to 70 per cent as RBS headed for a record UK £27bn-£28bn...

AMID banks posting further huge losses and their share prices collapsing, after the near extinction of the world’s largest banks last October, Prime Minister...

THE Standard and Poor (S&P) credit rating agency downgraded Greek government bonds on Wednesday sending government stocks and share prices on the Athens Stock...

BUSINESS Secretary Lord Mandelson launched a £20bn loan guarantee scheme for medium and small businesses yesterday, aimed at getting banks to lend to companies...

THE British Chambers of Commerce yesterday published its Fourth Quarter Economic Survey of nearly 6,000 businesses. It highlights what it called ‘a...

more than 3,300 jobs were axed or came under threat yesterday as prime minister Brown held his much-heralded ‘jobs summit’ with bosses and union...

WITH capitalism in its greatest crisis, and with tens of millions of jobs and tens of millions of people’s lives being destroyed after the...

WITH unemployment set to go up by at least one million this year, to three million, the government is in a panic. Its panic is...

THE Bank of England yesterday cut interest rates to 1.5 per cent, the lowest level in its 315-year history, since the start of the...

THE international banking system has collapsed, the steel industries of the planet are in slump, and the US and Japanese motor car giants...

YESTERDAY Adams Childrenswear announced that it had closed down 111 of its stores throughout the UK, and that its remaining 160 shops would stay...

STATEMENT BY THE NEWS LINE EDITORIAL BOARD WELCOME to 2009. It is the year for getting rid of capitalism and the capitalist world order. Capitalism is...