Tag: banks

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...

CRISIS, the national charity for single homeless people, correctly fears that a massive surge in homelessness is ahead, as it opens its nine Crisis...

SIR John Gieve, the deputy governor of the Bank of England, yesterday admitted that he was a victim of the historical blindness of the...

LABOUR’S leaders love the rich and have no time for the poor. As a government, Labour turned Britain into a second tax-free home for Russian...

THAT the record £2.1 billion NHS surplus should coincide with press headlines that the NHS is at breaking point is no accident. The winter has...

THE number out of work in the UK rose by 137,000 to 1.86 million in the three months to October – the highest level...

‘We have to strike to defend Royal Mail, to defend our jobs and to defend our pensions,’ CWU HP Section Chairman, South Central No...

THE Brown government is organising a £3bn sell-off of up to one third of the Royal Mail, a privatisation that will cost up to...

General Motors, the owner of Vauxhall, has put forward a plan for its Merseyside workforce to ‘take a break’ from two to nine-months from...

THE daily demonstrations of youth and workers are continuing in Greece, over a week after the assassination of the 15-year-old school boy Alexis Grigoropoulos...

GREEK police made hundreds of arrests as students and youth continued the mass demonstrations against the government in Athens and all major cities. On...

FOR the fifth consecutive day Greek school and university students and workers continued to demonstrate in the capital Athens and in virtually all cities...

‘THE news that General Motors is heading into bankruptcy means that the future of all GM plants is in the balance, especially the two...

A huge Athens strike rally on Wednesday demanded the resignation of the ‘murderers’ government’ of Greek Prime Minister Kostas Karamanlis. Under glorious sunshine tens of...

GERMANY’S Finance Minister Steinbruck yesterday attacked the Gordon Brown policy for saving the bankers and capitalists from the crisis, as recklessness itself. He described Labour’s...

THE Greek Prime Minister Kostas Karamanlis delivered a 5-minute proclamation on all national TV channels and radio stations on Tuesday night condemning as ‘enemies...

YESTERDAY in the House of Commons the Tories were glorying in the fact that their votes will make sure that Labour’s bill to force...

THE occupation of a relatively small factory in Chicago by its angry workforce, members of the UE trade union, to prevent its closure, has...

OVER 5,000 Greek school and university students along with teachers and university lecturers demonstrated through the Athens city centre yesterday afternoon for the third...

SOME 15,000 students, youths, workers and trade unionists marched on Sunday afternoon from Athens Polytechnic to the Greek police HQ in protest against the...

IN all of the Greek cities there were clashes throughout yesterday between workers and youth and the riot police, and other Greek special forces....

Throughout Saturday night thousands of youth attacked banks and department store buildings as well as police stations in Athens and in many other Greek...

THE UAW leaders are prepared to ‘suspend’ all of the gains of US autoworkers to try and assist the big bosses of GM, Chrysler,...

Most trade union leaders welcomed the Brown government’s legislative programme announced in Wednesday’s Queen’s Speech. However, the Public and Commercial Services Union (PCS) warned...

BARACK OBAMA, United States President-elect, announced the latest appointments to his White House cabinet on Monday. He made Hillary Clinton Secretary of State, confirmed that...

UK Mortgage approvals fell sharply again in October, the Bank of England reported yesterday, confirming fears that house sales and prices have a lot...

THE EU Commission’s President Barroso has been told by the ‘people who matter’, ie by members of the Labour government, that they now...

THE Labour leaders are terrified the whole capitalist system is going to go, News Line Editor Paddy O’Regan told an audience of 200 youth...

‘As ordinary trade union members are fighting for their jobs they must have a leadership with a policy of “not one job sold, not...

THE Labour government, after handing tens of billions of pounds to the Northern Rock and the other major banks, in an attempt to save...

THERE is nothing like the crisis of the capitalist system to bring out the essence of the Labour and trade union leaders, as labour...

ON Monday Chancellor Darling opened his pre-budget report with a piece of cheerful idiocy, saying that he was ‘confident that the UK, as an...

Chancellor Darling yesterday handed more billions to business in his pre-budget report, while making it clear the working class will be expected to pay...

AS is his way, the Prime Minister addressed the CBI bosses organisation yesterday, just hours before his Chancellor was due to declare to the...

LAST week a Tory MP had to apologise to the House of Commons because he had said that the government should ‘let the recession...

Chancellor Darling is set to announce a 2.5 per cent cut in Value Added Tax (VAT) from 17.5 per cent to 15 per cent...

British Banks have been recapitalised by the working class, who were not consulted by the government before the Prime Minister took the decision...

‘We continue to believe that stock transfer is fraught with financial hazards,’ Unite said yesterday after it was announced that Plymouth council tenants have...

US and European car employers yesterday warned that ‘their’ industry faced wipeout, ‘victims’ of the slump in the motor car industry and the financial...

US WORKERS will be asking themselves what the recent presidential election campaign was all about when Obama was fighting for change and saying that...

FACED with the crash of the pound and the enormous 182,000 leap in the number of unemployed in the three months to October, the...

MERVYN KING, the Governor of the Bank of England (BoE), said on Wednesday that Britain was already in a recession. He added that he expected...