Tag: banks

AT 6.16pm local time yesterday evening the Pakistani military assassinated Benazir Bhutto, putting a bloody end to the notion that there can be some...

TONY BLAIR, his hands still dripping with the blood of hundreds of thousands of Iraqis, and with financial scandals swirling all round...

AMBULANCE crews in south-east Wales are staging a four-week, unofficial overtime ban to highlight how much the ambulance service now relies on their willingness...

Prime Minister Brown is ‘on a collision course with the trade unions’, warned UNISON yesterday. A UNISON spokeswoman told News Line: ‘We want to make...

PRIME Minister Gordon Brown justified pay cuts for workers in the public services and the billions handed over by the Treasury to the bankrupt...

‘A painful adjustment faces the global banking sector over the next few months as losses are revealed and new capital is raised to repair...

THE Ernst and Young Item Club, whose computer model of the economy is the same as the Treasury’s, said last Friday that banking regulations...

Greek workers staged last Wednesday the biggest general strike in history against the proposed ‘reforms’ on pensions planned by the right-wing government of prime...

UP to 1.5 million fixed rate mortgage holders are going to have to renegotiate their mortgages in the New Year. Many of them are already...

FACED with loud and strident demands to slash its lending rate, to try and avoid a housing crash and a depression by crashing the...

HOSTILITIES have broken out between rival gangs of economists on the eve of the meeting of the Bank of England’s Monetary Policy Committee (MPC)...

THIS is the period of world revolution. That was the message delivered to the News Line Anniversary Rally attended by 200 youth and workers in...

THE chief of the Federal Reserve Bank, Bernanke, has hinted heavily that the developing slow down of the US economy will be met with...

YESTERDAY the number two CWU leader Dave Ward was boasting that the super-flexibility deal that the leadership put to the membership and which over...

YESTERDAY Gordon Brown attempted to revive his political credibility, severely damaged after the Northern Rock and Child Benefit details crises by delivering a speech...

JUSTICE Secretary, Jack Straw, yesterday dismissed Tory claims that Labour is facing its own Black Wednesday, over Northern Rock and the missing data discs...

‘Many thousands of low paid workers, including many UNISON members lost money and faced a bleak Christmas as a result of the despicable behaviour...

THE collapse of the US sub-prime market has produced a major banking crisis in the UK, which has seen the Northern Rock bank being...

HUGE petrol and food price increases have pushed up the UK cost of living, cutting workers’ wages and living standards. The Office of National Statistics...

HEZBOLLAH leader Hassan Nasrallah addressed a mass rally in the Lebanese capital Beirut last Saturday to mark ‘Martyrs’ Day’ celebrations. He spoke about the...

BOTH the HSBC and Barclays banks along with the Royal Bank of Scotland have suffered major share losses in the past week, as investors...

In a bid to defuse a developing insurrectionary situation, Pakistan’s military ruler Pervez Musharraf said after chairing a meeting of the National Security Council...

THE decision of the governor of the Bank of England, Mervyn King to name and shame the Chancellor of the Exchequer, Darling, as...

AT the moment it looks as if a fierce battle is being fought between the Labour government and the opposition parties over the fate...

ON Wednesday the world capitalist crisis deepened after the US Federal Reserve cut its interest rate from 4.75 per cent to 4.50...

AT the September Labour Party and TUC conferences the trade union leaders, amongst them the leaders of the UNISON trade union, made out that...

THE latest Bank of England figures show that the number of new mortgages being given to house buyers has fallen by 20 per cent...

IRAN has responded with a heroic defiance to the new economic sanctions imposed by the US ruling class that target its military defence, the...

IN the recent period the government, the Bank of England and the employers have been glorying in the fact that the enlargement of the...

THE US dollar is reeling against the euro. The US sub-mortgage crisis is deepening, with housing starts down by 10 per cent in September, while...

THE BBC backed up by the Brown government is set to ride roughshod over its workforce pushing through 2,700 job cuts, with up...

DESPITE having seen Northern Rock share prices crash by 60 per cent, queues of depositors outside branches taking out £2bn of their savings and...

THE reply of the leaders of the CWU postal workers union, Billy Hayes and Dave Ward, to the injunction obtained by the ruthless Royal...

AT THE CWU rally at Central Hall yesterday afternoon, CWU leader Billy Hayes presented a successful outcome of the postal workers struggle as relying...

LABOUR Prime Minister Brown, a cautious and bumbling, conservative politician, is due to decide this weekend whether to take a big gamble and call...

‘THE most dramatic strategic shift of the balance against ordinary citizens, especially the ill and infirm, in over a generation, has been the drive...

THE US banks are now having to declare their indebtedness. Citigroup has lost $6 billion in a third quarter of this year write down, as...

At the Labour Party conference in Bournemouth yesterday, Chancellor Alistair Darling stressed his support for the banks. In his keynote speech, moving the resolution ‘Prosperity...

THE Brown government has not just guaranteed all of the Northern Rock bank deposits, it has also underwritten its so called ‘commercial paper’, that...

FOLLOWING the decision of the US federal Reserve Bank to reduce its interest rate by 0.5 per cent, double the expected 0.25 per cent...

YESTERDAY was an historic day, with Prime Minister Brown pledging to bail out the banks. At the TUC Congress, Labour Party leader Brown told...

QUEUES of worried and angry savers continued outside Northern Rock banks yesterday. At the Harrow branch many queuers told News Line that they did not...

YESTERDAY morning frantic savers once again laid siege to Northern Rock bank branches, determined to withdraw their savings, following the scenes over the weekend,...

Alan Greenspan, the former head of the US Federal Reserve has released his memoirs, ‘The Age of Turbulence’, just as the economy goes into...

In a paper submitted to the House of Commons Treasury Committee, Mervyn King, Governor of the Bank of England warned yesterday: ‘The recent turmoil...