Corus steel giant to cut production by 30 per cent
London - Steel giant Corus, Europes second-largest steel company owned by Indias Tata Steel, Friday announced plans to cut production by 30 per cent over the next six months. The company, formerly British Steel, cited the global economic downturn f...

[ Published on : Fri, 07 Nov 2008 13:40 ]

Rolls-Royce to cut up to 2,000 jobs next year
London - Aero-engine maker Rolls-Royce said Thursday it would cut up to 2,000 jobs worldwide as a result of the current economic uncertainties. Rolls-Royce, which employs 39,000 workers globally, of whom 60 per cent are based in Britain, said the an...

[ Published on : Thu, 20 Nov 2008 05:18 ]

Woolworths chain in Britain faced with collapse - Summary
London - The Woolworths retail chain in Britain, which has had a presence on the High Street for nearly 100 years, is to file for administration, company sources said Wednesday. The collapse of the retail empire, which employs more than 25,000 staff ...

[ Published on : Wed, 26 Nov 2008 03:25 ]

Woolworths chain in Britain has filed for administration - report
London - The Woolworths retail chain in Britain, which has had a presence on the High Street for nearly 100 years, has gone into administration, the BBC reported Wednesday. The company, which employs more than 25,000 staff in 815 outlets across Britai...

[ Published on : Wed, 26 Nov 2008 02:25 ]

Marks Spencer ailing as British economy slows down
London - Britains leading Marks Spencer fashion and food retail chain Tuesday reported a 34-per-cent drop in half-yearly profits and warned that 2009 would be a tough year. Profits fell to 297.8 million pounds (470.5 million dollars) in the six m...

[ Published on : Tue, 04 Nov 2008 08:38 ]

Britains BT sheds 10,000 jobs as recession bites - Summary
London - British Telecom (BT) said Thursday that it would cut a total of 10,000 jobs in the current financial year, as part of an ongoing efficiency programme. The news came after a string of similar job-cutting announcements by major British in the ...

[ Published on : Thu, 13 Nov 2008 09:43 ]

Damien Hirst not immune to financial crisis as jobs are shed
London - Even star artists are not insulated from the effects of the spreading global financial crisis it seems, as British artist Damien Hirst announced that his company will be shedding jobs in response to the economic downturn, the Guardian report...

[ Published on : Sat, 22 Nov 2008 09:22 ]

Race is on to rescue Woolworths brand following administration
London - Administrators called in by collapsed retail group Woolworths in Britain said Thursday that efforts were under way to find a buyer for the giant High Street chain. Accountancy firm Deloitte said it had received expressions of interest from ...

[ Published on : Thu, 27 Nov 2008 08:25 ]