Tag: banks

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...

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

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,...

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...

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...

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

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

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...