US banking giant Citigroup is to slash 52,000 jobs, far more than analysts had predicted.
The job losses are in addition to the 23,000 staff cut already this year and the total 75,000 job losses represent a reduction of approximately 20% of its workforce, leaving it with 300,000 jobs globally.
The bank, which is one of the [...]
The trial payment of compensation to savers with Icelandic bank Icesave was a success, with £250m repaid to 10,000 customers
This week voting commences on the merger of Lloyds TSB and Halifax Bank of Scotland, while RBS launches its rights issue. Find out what shareholders need to know
According to a report by property search website, Rightmove, homeowners are slashing their asking prices by £6,500 in a bid to sell their home.
In the four weeks to November 8, the average asking price of a home in England and Wales was £223,000 – a 2.9% decrease on the previous month and the largest fall [...]
The Japanese economy, which is the world’s second largest, is official in recession – its first in seven years. The country has been hit by weakening exports and falling corporate investment.
The economy, which is considered a barometer for corporate and consumer strength across the world, contracted by 0.1% in the third quarter, following a 0.9% [...]
According to the Confederation of British Industry (CBI), the UK’s recession will be tougher and longer than previously estimated.
The business group is forecasting that the economy will contract by 1.7% next year, revised from an earlier estimate of 0.3%. The forecast of 0.3% was predicted prior to the collapse of US investment bank, Lehman Brothers, [...]