Rolls-Royce, the aerospace engineer, has announced further job cuts of between
1,500 and 2,000 around the world during next year, with 140 earmarked to go
at its assembly and test facility in Derby.
Shares in London began a further day of falls following steep declines across
Asia after investors took fright at grim economic data in Japan and America.
Britain’s biggest retailers will ring the opening bell on a brutal
pre-Christmas price war today as they prepare to slug it out for the
shrinking consumer purse.
Nick Brown, the Chief Whip, called yesterday for the North East to be exempted from the Government’s controversial tax on empty commercial buildings. However, Mr Brown, who is also Minister for the North East, said that the tax was appropriate for London and the South East.
Hopes of further aggressive interest rate cuts were boosted yesterday as it
emerged that the Bank of England considered a drastic reduction in borrowing
costs of two percentage points, or even more, this month.
Banco Santander has snubbed 1.8 million small shareholders in Britain,
excluding them from taking part in its €7.2 billion (£6 billion)
capital-raising, it became clear yesterday. The shareholders, who became
Santander investors when the Spanish bank took over Abbey and Alliance &
Leicester, will not be able to take part in the rights issue.
Lloyds TSB’s shareholders today voted through the bank's rescue takeover of
HBOS, owner of Halifax and Bank of Scotland, with 96 per cent of investors
backing the deal.
George Davies is stepping down as chairman of Per Una – the phenomenally
successful fashion brand that he created for Marks & Spencer (M&S).
Britain’s biggest clothing retailer said that Mr Davies, 67, would be
relinquishing his part-time role at the end of the year.