Tag: banks

THE governor of the Bank of England, Mervyn King, in a letter to the House of Commons Treasury select committee has warned that efforts...

VOTING takes place this Sunday in Greece for the snap general election the current right-wing government of the New Democracy party called to avoid...

ROYAL Mail has announced that it has brought the ‘period of calm’ in the Royal Mail to an end, and that it will be...

AFTER weeks of secret talks, which were extended by a further week and were conducted behind the backs of the CWU membership, the Royal...

The exposure of the UK to the US sub-prime loans crisis will push up mortgage rates in the UK, a former Bank of England...

THE rapidly deepening debt crisis of the capitalist system is leading to a financial collapse and a slump of historic proportions as the bankers’...

‘It is too soon to tell how far the disruption in financial markets will impair the availability of credit to companies and households,’ said...

US economic growth will slow sharply in the second half of the year and the risk of it going into a full-scale slump cannot...

SINCE Labour took office in 1997, house prices have gone up four times more quickly than workers’ pay, according to figures published by the...

BRITISH troops retreated from Basra City, quitting their base in the Presidential Palace on the banks of the Shatt al-Arab waterway in the dead...

IN A WEEK when billions were wiped off share prices in New York, Tokyo and London, on Friday both United States President George Bush...

UNITED States President George Bush was in New Orleans yesterday on the second anniversary of Hurricane Katrina’s devastation of the city. The hurricane killed...

ALMOST a third of Britain’s 700 biggest businesses paid no corporation tax in 2005-2006, according to a study carried out by the official National...

FOUR Greater Manchester hospitals are to have their maternity units closed in drastic cuts after the Labour government’s health secretary, ex-postman, Alan Johnson frantically...

The propagandists for the bourgeois order are rushing to try and defend the capitalist system as being blameless as far as the crisis is...

STUDENTS going to university this autumn will face £3,000 a year tuition fees for the second year. But the trebling of fees –...

‘One day after George W Bush asserted that the ‘fundamentals’ of the US economy are strong, the Dow Jones stock index plummeted by 387,...

There is a real panic setting in in the capitalist world’s financial system with the main world banks beginning to act to secure themselves...

GORDON Brown, the man who sold off a good portion of the British gold reserves for a relative pittance, and boasted that he had...

Communication Workers Union members have been telling News Line what they think of the ending of their strike actions in order to...

ON the eve of the Bank of England’s monthly Monetary Policy Committee meeting over the Bank’s interest rate, the British Chambers of Commerce has...

PALESTINIAN Prime Minister, Hamas leader Ismail Haniya met a delegation from the Euro-Med Human Rights Committee at his office in Gaza last Saturday....

IN London yesterday, the FTSE 100 rebounded momentarily, but then fell back into the red, down by 48.5 points by 1pm after a...

WE all saw the Katrina disaster, and what it did to New Orleans, destroying whole areas of the city and making them uninhabitable to...

The gap between the rich and poor has widened in recent years and is greater than at any time in the past 40 years,...

METRONET, the Public-Private-Partnership (PPP) within London Underground, has collapsed financially after years of failure to provide services required by the capital’s transport system. It...

THE US dollar, reflecting the crisis of the US capitalist economy, is now sinking fast against both the euro and the pound sterling. Rising...

FORTY-SIX universities, mainly but not entirely made up of ex-Polytechnics, were put on a list by the Labour government, after the introduction of tuition...

IT was Harold Macmillan back in the days of ‘You have never had it so good’ in the late 1950s and early 1960s who...

GORDON Brown in his budget got rid of the lowest rate of tax, 10p in the pound, thereby setting out to further punish the...

TRUE to form the private equity capitalist groups Permira and CVC having acquired the prestigious AA motoring group with the help of huge borrowings...

ROYAL Mail chairman Allan Leighton reiterated yesterday that the organisation cannot afford to improve its 2.5 per cent pay offer, despite staff voting 77...

COMMENTING on a report from the Student Loan Company (SLC) on Monday, National Union of Students (NUS) President Gemma Tumelty said: ‘Fee loans, along...

IT IS 40 years since Israeli warplanes destroyed the Egyptian airforce on the ground and Israeli troops occupied the Sinai peninsula, occupied Syria’s Golan...

The Palestinian government and the Hamas movement have rejected the admittance of any Arab or international military forces to the Gaza Strip, or to...

LABOUR Industry Minister Margaret Hodge has won the support of Hazel Blears (Chairman of the Labour Party and a candidate for the deputy leadership...

‘There will be national action on Royal Mail and I would think Counters will be involved. The whole country will come out now,’ Greenford...

MPs on the House of Commons Committee of Public Accounts in their report of Private Finance Initiative (PFI) refinancing have called for tougher regulation...

TWO HUNDRED trade unionists and youth attended the News Line-All Trades Union Alliance conference in Bethnal Green, east London, last Sunday. Opening the conference, chairman...

FIVE more American troops were killed and three were captured near Mahmoudiya, 20 miles south of Baghdad, in a pre-dawn attack on Saturday. The...

TWO HUNDRED trade unionists and youth attended the News Line-All Trades Union Alliance conference in Bethnal Green, east London, yesterday. Moving the main resolution, ‘After...

LABOUR was routed in Thursday’s regional and council elections losing by late yesterday afternoon 454 councillors and eight councils in England, while it lost...

On the 7th of October 2006 a coalition of migrant groups, trade unions and social justice activists marched in London demanding equal rights for...

IN the last 12 months the working class and the vast majority of the middle class have desperately struggled under a huge and...

BA is currently approaching a number of private equity companies about forming a consortium to bid for Iberia airlines. Iberia said last month...