Tag: banks

Billions more pounds were wiped off UK bank shares, yesterday, in the wake of Monday’s falls which saw £93bn wiped off the London Stock...

UK share prices crashed yesterday, wiping over £85bn off the London Stock Exchange, with the FTSE 100 index crashing 391 points or 7.85% to...

NEW Business Secretary Peter Mandelson admitted yesterday that he had checked in with his old boss Tony Blair before he agreed to take up...

‘WE have agreed to make a solemn engagement as heads of state and government to support banking and financial institutions faced with the crisis,’...

WITH the financial storm clouds starting to burst around him, Prime Minister Brown has established with his cabinet reshuffle that he means every word...

Turmoil in the global economy has increased the urgency for a fair and balanced industrial relations system, said Australian Council of Trade Unions (actu)...

THE manufacturing sector of the British economy shrank last month at the fastest rate for 17 years, that is since 1992, according to figures...

‘Industries must be nationalised under workers control and with no compensation to the failed former owners,’ said All Trades Unions Alliance national secretary Dave...

PRESIDENT George Bush’s Bill for a $700bn package of measures to bail out the Wall Street banks and large financial institutions in the United...

YESTERDAY two major banks had to be nationalised to prevent a run on the UK and EU banking system. They were the Bradford and...

THE Independent Reconfiguration Panel (IRP) has endorsed proposals to close Chase Farm Hospital as an acute District General Hospital (DGH). This is in order that...

THE Treasury yesterday confirmed that Bradford & Bingley’s (B&B) £50bn mortgages and loans will be nationalised. The mortgage bank’s £20bn savings unit and branches...

Mortgage bank Bradford & Bingley is to be nationalised to prevent a run on the bank and its complete collapse, possibly spreading...

BOTH Washington and London were yesterday involved in a desperate race against the clock. Labour let it be known, Sunday mid morning, that it will...

REPUBLICAN representatives walked out of the crisis talks with President Bush on Thursday night, denouncing him as a socialist for launching his $700 bn...

Bush made a two-minute statement on the White House Lawn yesterday following his failure to get agreement on Treasury Secretary Hank Paulson’s massive $700...

The US is retreating from an attack on Iran, says an article in Iran’s newspaper Jaam-e Jam, published last Tuesday. It reports: ‘The Israeli Haretz...

Prime minister Brown met Wall Street fund managers yesterday, officially for talks on how best to protect savings and pensions during the current global...

THE US president George Bush has been so frightened at the prospect of a 1929 collapse and a 1930s depression gripping the US that...

Prime Minister Brown yesterday revealed he has no policies to deal with the economic crisis in the interests of workers. In his keynote address to...

‘I want to talk to you about a new settlement for new times. A fair Britain for the new age. . . my unwavering...

MORE than 800 postal workers from all parts of the country, from Plymouth to Scotland, marched on the Labour Party conference in Manchester yesterday...

YESTERDAY at the Labour Party conference the leaders who not so long ago announced to the world that they had conquered the essential tendency...

THOUSANDS of trade unionists will be marching in Manchester today to the Labour Party conference to protest at the ‘breadline wages’ that public sector...

BOTH Wall Street and the London stock markets made record advances yesterday. The FTSE 100 index rocketed upwards on Friday morning adding £80billion to share...

ONCE AGAIN the Labour Party leadership of Brown and Darling have shown where their class allegiance lies – and at great cost to the...

‘IT seems to me that bank workers are treated as second-class citizens as though their jobs don’t matter.’ This is what Ged Nichols, general secretary...

THE LEADER of Lebanese resistance movement Hezbollah has delivered a revealing analysis of the current political situation and spoke candidly about his organisation’s increasing...

Responding to yesterday’s unemployment figures, TUC General Secretary Brendan Barber said: ‘Today’s figures show that unemployment is starting to accelerate and it now...

THE Federal Reserve Bank’s $85bn ‘rescue’ of AIG was carried out to stave off an immediate international financial and business collapse. It has turned...

QUEUES formed around the Singapore offices of an AIG subsidiary yesterday, as the world’s biggest insurance company collapsed, losing 70% of its share price. At...

SHARE price collapses continued yesterday after the bankrupting of the fourth largest US investment bank, Lehman Brothers, and the ‘rescue’ of Merrill Lynch by...

Wall Street shares fell 2.4% when trading opened in New York yesterday, in the midst of the financial turmoil caused by the bankruptcy of...

LEHMAN Brothers and Merrill Lynch, two pillars of the capitalist world’s banking system, have gone. The first declared bankruptcy, after the US Federal Reserve...

TONY Woodley, the Unite joint general secretary, has stepped into the row over the demand for a Labour Party leadership debate and a leadership...

PM Brown has rejected out of hand the trade union demand for a Windfall Tax on the oil, gas and energy companies, that are...

THE European Commission stated yesterday that the UK, Germany and Spain, key members of the EU, with Germany being the world’s biggest exporter, are...

ADDRESSING the bosses of the Scottish CBI, Prime Minister Gordon Brown assured them that his government will not be giving workers, the poor and...

THE Bank of England (BoE) Monetary Policy Committee decided yesterday to make no change in its base interest rate and to leave it at...

The Brown government has so far this year handed over more than £200bn to cash-strapped banks, it was claimed by a leading Swiss banker...

THE pound fell to an exchange rate of $1.77 yesterday, its lowest level for two-and-a-half years. In June sterling was trading at $2, but...

In a bid to prop up the banks and construction industry, prime minister Brown and chancellor Darling yesterday promoted a £1.6bn housing rescue package. This...

YESTERDAY’S reports on the state of the economy reveal more about the catastrophe gripping British capitalism, part of the world crisis. • The Bank of...

AVERAGE house prices in Britain are now 10.5 per cent lower than they were a year ago, according to figures published yesterday by Nationwide,...

‘The TUC leaders must act to defend jobs or make way for those who will,’ Dave Wiltshire, national secretary of the All Trades Union...