Tag: banks

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...

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

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...

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...

‘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 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...

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...

THE Greek working class delivered a most powerful notice to all concerned last Tuesday with a militant 24-hour general strike called by the GSEE...

AFTER actively assisting in the creation of trillions of debt, and showing its contempt for the concept of value by selling almost half of...

The UK government borrowed a record amount in September, in a bid to boost its finances, Office for National Statistics (ONS) figures published yesterday...

Tuesday’s 24-hour general strike called by the GSEE (Greek TUC) against the government’s policies takes place in an explosive period. The world economic collapse has...

THE Abkhazian and South Ossetian parliaments have been unanimously granted permanent observer status at the 34th session of the Parliamentary Assembly of the Belarus-Russia...

CRS riot police were used against striking Meteo-France weather service workers who were picketing and blockading the organisation’s Toulouse site at 22.30 on...

The Brown government has pledged to do all it can to help recover public money held in failed Icelandic banks but has refused to...

The number of unemployed people in the UK rose by another 164,000 between June and August, to 1.79 million, according to the latest government...

The number of UK unemployed rose by 164,000 between June and August, to 1.79 million, taking the official unemployment rate to 5.7% from...

The Consumer Prices Index (CPI) measure leapt from 4.7% in August to 5.2% in December, with the Retail Prices Index (RPI), which includes the...

UNISON has written to all local councils demanding to know what steps they are taking to recover cash invested in Iceland banks and how...

YESTERDAY the Brown government was emphasising that it had no interest in running the three banks that it was ‘part-nationalising’ (rescuing) with £37bn of...

The first banks to get money under the UK government’s £500bn bank rescue plan are expected to do so this morning. Over the weekend, the...

THE run on shares last Friday, particularly bank shares, devastated capitalists and capitalism. The Royal Bank of Scotland saw its shares crash by 25 per...

Over 6,000 bus drivers were out on a 24 hour strike yesterday to protest at the huge pay disparity between the eighteen London bus...

CHANCELLOR Darling flew to the US yesterday to meet with fellow finance ministers, and Federal Treasury Secretary Paulson, for the IMF-World Bank Annual Meeting. Yesterday...

Brown and Darling yesterday announced a £500bn package of measures aimed at rescuing the banking system. The equivalent of $880bn, it means they are handing...

YESTERDAY saw the big international push get under way to try to rescue the bankers of the world from the crisis of their capitalist...