Bank aims to cut costs by a further £1.5bn a year and eliminate 15,000 jobs over two and a half years View full post on Financial Times – UK Homepage
Greece agrees to more austerity cuts
International lenders press Athens pressed to close €5.5bn ‘black hole’ in the four-year programme before it is approved by legislators next week View full post on Financial Times – UK Homepage
Hospitals must make deep cuts to survive
Financial Times research suggests that up to 17 NHS hospital trusts are so cash-strapped they will have to impose deep cuts in services if they are to survive View full post on Financial Times – UK Homepage
Bank of England cuts growth forecasts
The Bank of England has cut its growth forecasts and raised its predictions for inflation for this year and next, after the economy has stalled in recent quarters amid intense price pressures View full post on Financial Times – UK Homepage
Ireland cuts growth forecasts by half
The country’s finance ministry said GDP growth would be 0.75% rather than 1.75%, a change largely expected after the International Monetary Fund cut growth forecasts View full post on Financial Times – UK Homepage
Shanghai offers fee cuts to defuse strike
Shanghai is cutting some fees to defuse striking truck drivers’ anger over high fuel prices, after days of confrontation that have disrupted the world’s busiest port. View full post on Financial Times – UK Homepage
S&P cuts US credit outlook to ‘negative’
The rating agency downgrades its outlook on US sovereign debt from ‘stable to negative’, citing worries over budget deficits and debt View full post on Financial Times – UK Homepage