More Cuts at Lloyds Mean More Confusion and Uncertainty

August 24th, 2009 LONDON - Unite, Britain's biggest union, has today described RBS's planned cuts to its pension scheme as a 'body blow' to its 60,000 staff. RBS today (25th August) announced changes to the group's defined benefits final salary pension scheme.

June 17th, 2009 LIESHOUT, The Netherlands - The Spanish Supreme Court has put an end to the trademark conflict between the Dutch brewery Bavaria and the Bayerischer Brauerbund. After 10 years of litigation Bavaria has finally won this battle.

June 14th, 2009 DUBAI, United Arab Emirates - Facing such issues as redundancies, salary freezes, and new termination regulations the region's companies are facing their toughest challenges when it comes to nationalisation. In a period of economic uncertainty HR departments are struggling to meet business and operational needs as well as those of their employees all whilst achieving sustainable nationalisation.

May 25th, 2009 NYON, Switzerland - Postal market liberalisation routinely leads to unemployment, attacks on working conditions and poorer service for customers, says a study released today by UNI Global Union. UNI is urging the European Union to immediately put a moratorium on the implementation of the 3rd postal directive and start a proper debate on the issue.

May 13th, 2009 PARIS - On the occasion of the opening ceremony of the 62nd Cannes Film Festival, the actress and member of the jury, Robin Wright Penn, wore diamonds and white gold earrings, and a bracelet from Les Ardentes collection. To view the Multimedia News Release, please click: www.prnewswire.com/mnr/louisvuitton/38364/ Les Ardentes collection is characterised by two new cuts of diamond representing the flowers of the Louis Vuitton Monogram.

April 19th, 2009 LIVERPOOL, England - Unite members at United Biscuits' Liverpool Binns Road site are taking their fight to Parliament tomorrow (Tuesday 21st April 2009) to stop plans to move their jobs to India. Around 170 workers across United Biscuits (UB) UK sites, including Liverpool, are facing job cuts if proposals to move UK jobs to India, go ahead.

April 6th, 2009 AMSTERDAM - European Multilateral Clearing Facility, the European Central Counterparty (CCP), introduces a 40% fee reduction for the UK securities market effective April 14th as part of its strategy of price leadership in Europe EMCF cuts fees by 40% for trades cleared in UK securities as per April 14th, 2009, bringing clearing fees to EUR 0.03 per trade. The move ensures EMCF will maintain price leadership in the European cash equities market.

March 24th, 2009 LONDON - Unite has accused HSBC of "creative accountancy" with jobs as HSBC concedes that the true number of job cuts is in fact 2,900 as the union has rightly claimed, and not 1,200 as HSBC had originally claimed. Derek Simpson, Unite Joint General Secretary, said: "As if it was not bad enough for staff of HSBC to hear from the media that their jobs are at risk, we now have a situation where the company is failing to come clean with the true extent of these cuts.

March 16th, 2009 LONDON - LONDON, March 17 /PRNewswire/ -- When: 11 am, Tuesday 17th March Where: Scottish Parliament, outside the main entrance, Edinburgh, EH99 1SP. Unite members will today (Tuesday) gather outside the Scottish Parliament dressed in black and accompanied by a horse drawn hearse, to mourn the loss of key jobs and services in Scotland's voluntary sector due to funding cuts.

March 10th, 2009 LONDON - Unite, the UK's biggest civil air transport union, is balloting its members working at Manchester Airport for industrial action in a dispute over restructuring which has resulted in job cuts, pay cuts and the introduction of an unpopular shift pattern. Over 100 Swissport ground handling staff at the airport, including baggage handlers and ramp operatives, will receive ballot papers this weekend.

July 16th, 2009 Lloyds Banking Group cutting 1,200 more jobsLONDON — Lloyds Banking Group announced Thursday it would cut another 1,200 jobs to reduce costs and rationalize operations after the government-backed merger of Lloyds TSB and Halifax/Bank of Scotland. Lloyds, whose biggest shareholder is the British government, said 650 permanent jobs would go by the first quarter of next year, 180 staff would move to new positions and 370 agency and contract staff would be cut in its group operations and insurance divisions.

June 30th, 2009 Lloyds Banking Group cutting 1,750 more jobsLONDON — Lloyds Banking Group PLC said Tuesday it expects to cut 1,750 jobs in its group operations and wholesale divisions over the next three years as it consolidates the merger of Lloyds TSB and Halifax/Bank of Scotland. The partly nationalized bank said 2,100 posts would be cut, but that would be partly offset by creating 350 new roles in the two divisions.

June 30th, 2009 Lloyds Banking Group cutting 1,800 more jobsLONDON — Lloyds Banking Group PLC said Tuesday that it expects to cut nearly 1,800 jobs in its group operations and wholesale divisions over the next three years as it consolidates the merger of Lloyds TSB and Halifax/Bank of Scotland. The partly nationalized bank said 2,100 posts would be affected, but that would be partly offset by creating 350 new roles in the two divisions.

June 9th, 2009 Lloyds Banking Group to cut 1,600 more jobsLONDON — Lloyds Banking Group PLC said Tuesday that it will cut another 1,600 jobs in Britain in a shake up of its lending businesses. Lloyds, one of two big British banks being propped up by the government, said it would close its 164 Cheltenham & Gloucester branches in November, eliminating 833 jobs.

August 10th, 2009 Lloyds shares fall on capital raising speculationLONDON —Shares in part-nationalized British bank Lloyds PLC dropped 5 percent on Monday on speculation the lender is considering a multibillion pound share issue as part of a plan to reduce its reliance on the government. Lloyds agreed in March to put some 260 billion pounds ($433 billion) of bad loans into the government's asset protection scheme, an insurance program for toxic debt, but is now reported to be concerned about the 16 billion pounds worth of fees attached to the program.

February 27th, 2009 LONDON - Lloyds Banking Group Friday reported 2008 losses of 9.9 billion pounds ($14 billion) following its growth into a 'superbank' through the emergency takeover of Halifax Bank of Scotland (HBOS) last September. Lloyds core division made a pre-tax profit of 807 million pounds in 2008, but HBOS, Britain's biggest mortgage lender, had suffered losses of 9.9 billion pounds, the banking group said.

June 8th, 2009 Lloyds bank gets 87 pct takeup on share offerLONDON — Lloyds Banking Group PLC said Monday that it has placed 4 billion pounds ($6.35 billion) of shares which will enable it to make a partial repayment of government support. The auction maintained the government's stake in Lloyds at 43.4 percent of its ordinary shares.

June 24th, 2009 NEW DELHI - The Delhi government Wednesday advised people in the capital, who are battling power cuts amid sweltering heat, to use electricity judiciously and avoid "any future shortage which may happen because of uncertainty of the monsoon". Chief Minister Sheila Dikshit held a meeting to review present power situation in Delhi, which was attended by power secretary and tops officials of power distribution companies (Discoms) - the BSES and the New Delhi Power Ltd (NDPL).

August 5th, 2009 Lloyds loses $5.3 billion in H1 on bad loansLONDON — Lloyds Banking Group PLC, part owned by the British government after a bailout, on Wednesday reported a loss of 3.1 billion pounds ($5.3 billion) for the first half of the year as bad loans rose at HBOS, the bank it took over in January. The merged bank's share price rose after management said the worst of the bad debts problem was over.

August 5th, 2009 Lloyds shares up on smaller than expected lossLONDON — Lloyds Banking Group PLC shares rose sharply Wednesday after the part-nationalized bank reported a smaller-than-expected loss for the first half of the year and declared its belief that the worst was over. Lloyds blamed loan losses at Halifax/Bank of Scotland, the company it acquired in a government-backed takeover in January, for record writedowns which resulted in a loss of 3.1 billion pounds ($5.3 billion).