Tag: banks

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...

The economy of the 15-nations eurozone has slumped into recession for the first time ever, EU data released yesterday revealed, with GDP falling 0.2%...

GERMANY, the world’s biggest exporter of commodities, and the strong man of the EU, has begun to slump with government figures showing that its...

The Communication Workers’ Union (CWU) yesterday said that job cuts in BT ‘must not be met through compulsion’ and pledged it will ‘oppose any...

Official figures out yesterday showed that UK unemployment has hit an 11-year high, with the number of people out of work in the three...

The Bank of England governor Mervyn King yesterday admitted that the UK entered a recession in the middle of 2008. Stunned by the...

GLOBAL action to save the motor industry from crisis, and above all to stave off bankruptcy at General Motors, has been urged by Unite...

CWU postal workers and their families are marching through Bletchley, Milton Keynes on Saturday, against the planned closure of the Mail Centre. Paul Moffat,...

FOR SOME time Labour has been promoting the theme that the very idea of a job for life is reactionary, and has been glorifying...

GENERAL Petraeus is now the commander of all NATO forces in Afghanistan, and has declared that he intends to organise a NATO ‘surge’ in...

‘STOP evictions from Heygate estate!’ demanded a picket by Heygate tenants and the South-East London Council of Action, outside Southwark Town Hall last Wednesday...

YESTERDAY afternoon Barack Obama was in discussion with his economic advisers and with his allies as the crisis of US imperialism intensified on the...

A realisation of the depth of the slump, yesterday drove the Bank of England to make a panic 1.5% cut in interest rates...

BARACK Obama, the Democratic Party candidate, was elected the 44th President of the United States of America on Tuesday, with an overwhelming vote giving...

LLOYDS stated yesterday that its takeover of HBOS would save it at least £1.5bn a year, more than it had been expecting, which all...

The Unite trade union yesterday urged Lloyds TSB and HBOS ‘to start thinking about the human consequences of this takeover’. It was responding to...

Forty-six Renault workers from the sackings-hit Sandouville plant were before a court in Le Havre last Thursday, October 30. They were taken to court by...

AT the same time as the Brown government continues to spend hundreds of billions to ‘preserve’ the bankers and the capitalist system, his government...

Russia’s super-rich oligarchs, who made their fortunes by stealing or purchasing for a pittance chunks of the Soviet nationalised and planned economy under the...

THE ‘Home Coming’ British Army ‘welcome home’ parade being mounted in the centre of Belfast this Sunday, in which a number of British army...

THE world’s banks have now lost £1.8 trillion the Bank of England has reported in its Financial Stability Report. This is as a result of...

‘WE’RE having a good picket today, with plenty of support for an occupation of Chase Farm Hospital,’ said Bill Rogers, North-East London Council of...

THE government is activating a mass hospital closure programme. 30 to 40 ‘failing’ NHS trusts could be handed over to new management, which could...

PRIME Minister Gordon Brown yesterday pledged to a gathering of businessmen in London to ‘intensify’ the government’s attacks on the Welfare State, whilst continuing...

THE worldwide capitalist crisis drove the pound down on Friday into an unprecedented collapse. The pound slumped 9.6 US cents to $1.52 at...

THE London and New York stock markets were in free fall yesterday, losing hundreds of points, with tens of billions of dollars and pounds...

Share prices and the pound were battered yesterday after the publication of official figures showed that the UK economy shrank for...

ONE in four South Africans are unemployed, and poverty is rife eighteen years after the release of Nelson Mandela and 14 years after he...