Archive for September, 2010
Orange and T-Mobile merger brings reduction in workforce
Everything Everywhere, the company that runs Orange and T-Mobile in the UK has announced it will reduce its workforce by 7.5%. The merged mobile phone giant said the majority of the cuts would be made among back office, headquarters and management. The combined company, which has a 37% share of the UK mobile market, has [...]
Ireland’s budget deficit soars as banks drain economy
Ireland’s central bank has said that Anglo Irish Bank, Allied Irish Bank and building society Irish Nationwide are all likely to need extra capital in order to stay afloat. The central bank has previously warned that a potential rescue for troubled lender, Anglo Irish Bank, will cost up to €34.3 billion (£29 billion). This has [...]
Bail-out hammers Irish finances
The Irish Republic reveals that it now faces a huge budget deficit – 32% of GDP – after the latest bail-out of its struggling banks.
US Q2 economic growth figures revised upwards
The Commerce Department has today revealed the US economy grew by an annualised 1.7% in the April to June period – slightly higher than the previous estimate of 1.6%. This figure is the third and final estimate for the second quarter and the upward revision was due to a higher rate of consumer spending, which [...]
Irish government to take majority stake in Allied Irish Banks
Most European equities markets were lower Thursday on bad news for banks in Ireland, and were not even helped by new data from the United States which showed that new jobless claims were down by 16,000 last week, more than had been predicted by analysts, or by a revised report that showed that the US [...]