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Public sector pay talks ‘fraught’
Things are not well in public sector negotiations, Gary Gibbon learns.
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Fears of another credit crunch are eased slightly as banks take up almost 490bn euros in loans from the European Central Bank.
A report into the HM Revenue & Customs found “specific and systemic” failures in the way deals are done with companies, allowing tax bills to be negotiated at a loss to the taxpayer.
Things are not well in public sector negotiations, Gary Gibbon learns.
Rev Jesse Jackson wielded his unmistakable brand of rousing oratory at St.Paul’s today.
Alex Thomson visits the Occupy camp in London outside St Paul’s and finds the protesters in no mood to call it a day.
“An EU-wide Robin Hood Tax – which John Major called a “heat-seeking missile” pointed at the heart of the Square Mile (surely it should have been an arrow?) – does now appear to have stalled on the launchpad.”
Whilst the world’s attention has been focused understandably on a supposed “deal” emerging at the European Council summit in Brussels, I have just witnessed an extraordinary press conference from the President of the European Central Bank in Frankfurt.
Channel 4 News Economics Editor Faisal Islam says the European Financial Stability Facility bailout fund is being “quietly forgotten” in favour of the European Stability Mechanism.
Occupy London protesters say issues remain unresolved despite a meeting with Hector Sants, the head of the Financial Services Authority, which he described as “fruitful”. Roz Upton reports.
As David Cameron trades blows with other European leaders over a financial transactions tax, Channel 4 News asks if the City should be protected.
The banking giant will pay almost £30m in compensation after its subsidiary mis-sold products intended to pay for long-term care to thousands of elderly investors.
As the Bank of England Governor warns UK banks to build up their reserves the eurozone catastrophe talk is ratcheting up in the countdown to the European Council next Friday. Economics Editor Faisal Islam reports.
The Governor of the Bank of England warns banks to brace themselves for a potential eurozone collapse by increasing reserves, adding that the BoE has “contingency plans” for a euro meltdown.
As six central banks take steps to bring down the cost of borrowing, a stockbroker tells Channel 4 News there is likely to be further pressure on eurozone leaders to resolve the debt crisis.
The instant reactions of our political editor, Gary Gibbon, to the chancellor’s autumn statement.