Greece clashed with the European Commission in Brussels today over its tough austerity measures, which will see the debt-stricken economy tackle its spiralling debts.
Prior to a meeting with euro zone finance ministers in Brussels today, Greece’s Finance Minister, George Papaconstantinou, said the EU needed to show more support to Greece instead of questioning its measures. [...]
In an attempt to reduce its high levels of debt, Greek Prime Minister George Papandreou, has unveiled tough measures which include a public sector pay freeze and a hike in fuel taxes.
Further measures to reduce debt levels include a 10% cut in social security spending, as well as a massive 90% tax on the bonuses [...]
US carmaker Ford has today reported its first annual profit since 2005 after a turbulent 12 months for the American car industry.
The company reported an annual net profit for 2009 of $2.27 billion (£1.4 billion) compared with a loss of $15 billion in 2008.
Meanwhile, for the fourth quarter of 2009, profit was $868 million – [...]
A survey by business group British Chambers of Commerce (BCC) has revealed that businesses are cautious about a recovery next year with figures showing that two thirds are planning wage freezes or pay cuts next year.
The survey, which questioned 260 companies, also revealed that in a bid to reduce overheads, one in five is considering [...]
A report by the National Association of Pension Funds (NAPF) has found that just 23% of final salary pension schemes in the private sector are open to new members, compared with 28% a year earlier.
As a result of the findings, the NAPF has issued a warning to the Government to introduce measures to help reduce [...]
In an effort to tackle Britain’s spiralling public debt, the Government has today unveiled proposals that will see it raise £16 billion via asset sales.
In order to reduce the budget deficit, which is set to hit a record £220 billion (the equivalent of 12% of GDP), the Government has taken action by ordering sale of [...]