Link to the article: BBC News
How has the European Union grown since its birth in 1958? Who is and who isn't in the Eurozone? Where can you travel without passport controls?
The BBC's Europe Editor Mark Mardell explains how the EU has developed and its current structure.
Friday, 29 May 2009
Lifestyle annuities hit record levels
Link to the article: Channel 4 News
By Channel 4 News
Quantitative easing by the Bank of England is forcing more people to consider annuity products that are linked to lifestyle, a consultancy firm said today.
The enhanced annuity products – which are used to convert pension pots into a fixed income – will reach total sales of £1.8bn this year, according to Watson Wyatt.
While customers have traditionally taken standard annuities solely linked to the life expectancy of their gender, the last 12 months have seen a record rise in the numbers of enhanced annuities being agreed.
Enhanced annuities pay more than conventional annuities because they take into account life expectancy reducing factors such as: whether you drink, smoke, where you live, or even if you have a risky occupation.
The pension company effectively gambles that, for example, 20-a-day pensioners will not live as long as pensioners who regularly exercise, so agree to pay out more annually for an unhealthy lifestyle.
Watson Wyatt say the total value of enhanced life annuities sold in the first quarter of this year was up by nearly 10 per cent on the same period last year, at £443m.
They say the reduction in gilt yields, brought on by the Bank of England’s decision to begin quantitative easing, has reduced annuity rates, forcing people to consider how to get the most out of their retirement income. This has led record numbers to look at enhanced annuities.
You are eligible for an enhanced annuity if you meet the requirements set by your pension provider. They will look at your health, where you live and if you have a history of illness.
By Channel 4 News
Quantitative easing by the Bank of England is forcing more people to consider annuity products that are linked to lifestyle, a consultancy firm said today.
The enhanced annuity products – which are used to convert pension pots into a fixed income – will reach total sales of £1.8bn this year, according to Watson Wyatt.
While customers have traditionally taken standard annuities solely linked to the life expectancy of their gender, the last 12 months have seen a record rise in the numbers of enhanced annuities being agreed.
Enhanced annuities pay more than conventional annuities because they take into account life expectancy reducing factors such as: whether you drink, smoke, where you live, or even if you have a risky occupation.
The pension company effectively gambles that, for example, 20-a-day pensioners will not live as long as pensioners who regularly exercise, so agree to pay out more annually for an unhealthy lifestyle.
Watson Wyatt say the total value of enhanced life annuities sold in the first quarter of this year was up by nearly 10 per cent on the same period last year, at £443m.
They say the reduction in gilt yields, brought on by the Bank of England’s decision to begin quantitative easing, has reduced annuity rates, forcing people to consider how to get the most out of their retirement income. This has led record numbers to look at enhanced annuities.
You are eligible for an enhanced annuity if you meet the requirements set by your pension provider. They will look at your health, where you live and if you have a history of illness.
Hopes for Vauxhall
Link to the article: Channel 4 News
By Faisal Islam
Canadian-Austrian car parts maker Magna International has reportedly reached a tentative deal to rescue GM Europe, owner of Vauxhall.
Five thousand British carmaking jobs depend on it - tonight an initial rescue deal for GM Europe - which owns Vauxhall and Opel - is on the verge of agreement.
Along with the US government, the new owners, the Canadian car parts maker Magna and its Russian banking partner, have offered to provide short term funding.
The Business secretary Lord Mandelson said he had been seeking confirmation as soon as possible, that no Vauxhall jobs would be lost in the UK.
Earlier in the day, the future of Vauxhall, which employs 5,500 UK workers and has plants in Luton and Ellesmere Port, seemed uncertain after strong bidder Italian car maker Fiat pulled our of the take-over negotiations with the German government.
An agreement between Magna and GM Europe would guarantee there are less job cuts than the proposed cuts by other bidders, reports said. But Magna still needs to obtain clearance from the German government.
By Faisal Islam
Canadian-Austrian car parts maker Magna International has reportedly reached a tentative deal to rescue GM Europe, owner of Vauxhall.
Five thousand British carmaking jobs depend on it - tonight an initial rescue deal for GM Europe - which owns Vauxhall and Opel - is on the verge of agreement.
Along with the US government, the new owners, the Canadian car parts maker Magna and its Russian banking partner, have offered to provide short term funding.
The Business secretary Lord Mandelson said he had been seeking confirmation as soon as possible, that no Vauxhall jobs would be lost in the UK.
Earlier in the day, the future of Vauxhall, which employs 5,500 UK workers and has plants in Luton and Ellesmere Port, seemed uncertain after strong bidder Italian car maker Fiat pulled our of the take-over negotiations with the German government.
An agreement between Magna and GM Europe would guarantee there are less job cuts than the proposed cuts by other bidders, reports said. But Magna still needs to obtain clearance from the German government.
Thursday, 28 May 2009
Time Warner and AOL to part company
Link to the article: Channel 4 News
By Benjamin Cohen
US media giant Time Warner says it plans to spin off its AOL internet division as a separate company by the end of 2009. Benjamin Cohen reports.
It was a massive merger between the two media companies that critics say failed to live up to its promise.
Once completed, the deal will once again make AOL an independent company - but shareholders will have lost hundreds of billlions of dollars.
The accompanying report contains flash photography.
By Benjamin Cohen
US media giant Time Warner says it plans to spin off its AOL internet division as a separate company by the end of 2009. Benjamin Cohen reports.
It was a massive merger between the two media companies that critics say failed to live up to its promise.
Once completed, the deal will once again make AOL an independent company - but shareholders will have lost hundreds of billlions of dollars.
The accompanying report contains flash photography.
Vauxhall jobs at risk as talks stall
Link to the article: Channel 4 News
By John Sparks
The future of 5,000 British jobs at Vauxhall looks uncertain after tense negotiations between General Motors Europe and the German government break down. John Sparks reports.
German ministers criticised both GM and the American administration, saying the talks had become "absurd".
Here, the British government has insisted there is "no chance" that GM's Vauxhall plants will close.
But Channel 4 News has been told the firms bidding for the car making giant cannot make any firm promises.
By John Sparks
The future of 5,000 British jobs at Vauxhall looks uncertain after tense negotiations between General Motors Europe and the German government break down. John Sparks reports.
German ministers criticised both GM and the American administration, saying the talks had become "absurd".
Here, the British government has insisted there is "no chance" that GM's Vauxhall plants will close.
But Channel 4 News has been told the firms bidding for the car making giant cannot make any firm promises.
Oil output curbs push up petrol prices
Link to the article: Channel 4 News
By Carl Dinnen
Pump prices are up, but Opec, meeting in Vienna, is unlikely to boost current output levels. Carl Dinnen talks to Paul Watters of the AA.
Since September petroleum exporters have reduced output by more than 4 million barrels a day, which has helped drive up prices.
In the UK the cost of a litre of petrol has nearly reached one pound. That means it has shot up by two and a half pence in just over a month.
By Carl Dinnen
Pump prices are up, but Opec, meeting in Vienna, is unlikely to boost current output levels. Carl Dinnen talks to Paul Watters of the AA.
Since September petroleum exporters have reduced output by more than 4 million barrels a day, which has helped drive up prices.
In the UK the cost of a litre of petrol has nearly reached one pound. That means it has shot up by two and a half pence in just over a month.
Wednesday, 27 May 2009
Village People: Will Ireland back flip on EU?
Link to the article: BBC News
The Lisbon Treaty could finally come into effect in 2009, eight years after European leaders launched a process to make the EU "more democratic, more transparent and more efficient".
Naoise Nunn, former executive director of Libertas which campaigned against the Treaty, tells David Grossman why he believes that Ireland, which rejected it last year, does not have the luxury of voting No for a second time.
The Lisbon Treaty could finally come into effect in 2009, eight years after European leaders launched a process to make the EU "more democratic, more transparent and more efficient".
Naoise Nunn, former executive director of Libertas which campaigned against the Treaty, tells David Grossman why he believes that Ireland, which rejected it last year, does not have the luxury of voting No for a second time.
Santander to rebrand British banks
Link to the article: Channel 4 News
By Jenny Wivell
Banking names Abbey, Alliance & Leicester and Bradford & Bingley are to disappear from the high street as they are rebranded by their Spanish owner.
Three of Britain's best-known banking names will disappear from the high street as they are rebranded by their owner.
Abbey, Alliance & Leicester and Bradford & Bingley will all carry the Santander logo from 2010.
The group will become the UK's second largest mortgage provider with 1300 branches and 25 million customers.
By Jenny Wivell
Banking names Abbey, Alliance & Leicester and Bradford & Bingley are to disappear from the high street as they are rebranded by their Spanish owner.
Three of Britain's best-known banking names will disappear from the high street as they are rebranded by their owner.
Abbey, Alliance & Leicester and Bradford & Bingley will all carry the Santander logo from 2010.
The group will become the UK's second largest mortgage provider with 1300 branches and 25 million customers.
Tuesday, 26 May 2009
Profits soar at Virgin Atlantic
Link to the article: Channel 4 News
By Carl Dinnen
Making profits in a recession is no mean feat, but that's exactly what Virgin Atlantic has achieved. Carl Dinnen speaks to Virgin Atlantic CEO Steve Ridgway.
The airline has announced profits of more than £68m for the year to February.
That is almost double the previous year.
It is a massive contrast to British Airways, which last week announced annual pre-tax losses of more than £400m.
By Carl Dinnen
Making profits in a recession is no mean feat, but that's exactly what Virgin Atlantic has achieved. Carl Dinnen speaks to Virgin Atlantic CEO Steve Ridgway.
The airline has announced profits of more than £68m for the year to February.
That is almost double the previous year.
It is a massive contrast to British Airways, which last week announced annual pre-tax losses of more than £400m.
Saturday, 23 May 2009
The real cash cows of France?
Link to the article: BBC News
French investors are increasingly giving up on stocks in favour of good old-fashioned livestock.
Buying a cow can yield a healthy 5% annual return, as Emma Jane Kirby reports.
French investors are increasingly giving up on stocks in favour of good old-fashioned livestock.
Buying a cow can yield a healthy 5% annual return, as Emma Jane Kirby reports.
Wednesday, 20 May 2009
Europe's biggest wind farm opens
Link to the article: BBC News
The turbines on Europe's biggest on-shore wind farm have been officially switched on.
Located in East Renfrewshire, the wind farm will be capable of generating enough electricity to supply 180,000 homes.
Lorna Gordon reports.
The turbines on Europe's biggest on-shore wind farm have been officially switched on.
Located in East Renfrewshire, the wind farm will be capable of generating enough electricity to supply 180,000 homes.
Lorna Gordon reports.
Friday, 15 May 2009
EU recession 'deeper than expected'
Link to the article: BBC News
The European Union is suffering a deeper recession than expected. Figures from the EU show its members' economies shrank by an average of almost 4.5% in the year to March.
Economic output among the Eurozone countries also fell during the first quarter of 2009, largely because of a record contraction in the German economy.
Hugh Pym reports.
The European Union is suffering a deeper recession than expected. Figures from the EU show its members' economies shrank by an average of almost 4.5% in the year to March.
Economic output among the Eurozone countries also fell during the first quarter of 2009, largely because of a record contraction in the German economy.
Hugh Pym reports.
Thursday, 14 May 2009
Chip-maker fined over payments
Link to the article: Channel 4 News
By James Blake
The computer chip manufacturer Intel is handed a record fine of almost £1bn by the European Commission for anti-competitive practices.
The commission found that between 2002 and 2007, Intel had paid manufacturers and a retailer to favour its products, pushing up the price of computers on the high street.
By James Blake
The computer chip manufacturer Intel is handed a record fine of almost £1bn by the European Commission for anti-competitive practices.
The commission found that between 2002 and 2007, Intel had paid manufacturers and a retailer to favour its products, pushing up the price of computers on the high street.
Truth behind Ivory Coast toxic waste dump
Newsnight BBC2 Wednesday 13th May 2009
Link to the Newsnight Special Report at Newsnight
Thirty thousand people from Ivory Coast are taking on a massive British-based multinational after the dumping of poisonous waste on the land where they live in Ivory Coast.
Ivory Coast toxic waste claims
Newsnight investigation from August 2007 into claims multinational oil-trading company Trafigura dumped toxic waste in Ivory Coast. The company is on trial in Amsterdam over the claims.
First broadcast Wednesday 25th June 2008
Company defends toxic dumping claims
Eric de Turckheim, co-founder of Trafigura, defends claims his company dumped toxic waste in Ivory Coast.
This interview was first broadcast on 16 Aug 2007
Link to the Newsnight Special Report at Newsnight
Thirty thousand people from Ivory Coast are taking on a massive British-based multinational after the dumping of poisonous waste on the land where they live in Ivory Coast.
Ivory Coast toxic waste claims
Newsnight investigation from August 2007 into claims multinational oil-trading company Trafigura dumped toxic waste in Ivory Coast. The company is on trial in Amsterdam over the claims.
First broadcast Wednesday 25th June 2008
Company defends toxic dumping claims
Eric de Turckheim, co-founder of Trafigura, defends claims his company dumped toxic waste in Ivory Coast.
This interview was first broadcast on 16 Aug 2007
BT cuts 15,000 jobs
Link to the article: Channel 4 News
One in 10 of BT's workers will lose their jobs as the telecoms firm announces a £134m loss.
BT is to cut another 15,000 jobs on top of the 15,000 it has already cut since November 2008.
The news comes as the company announces a loss of £134m in the latest financial year - only the second loss in the company's history.
One in 10 of BT's workers will lose their jobs as the telecoms firm announces a £134m loss.
BT is to cut another 15,000 jobs on top of the 15,000 it has already cut since November 2008.
The news comes as the company announces a loss of £134m in the latest financial year - only the second loss in the company's history.
Wednesday, 13 May 2009
Recovery may be slow, warns King
Link to the article: Channel 4 News
Bank of England Governor Mervyn King warns of great uncertainty for the UK economy.
Unveiling the bank’s quarterly inflation report, King said: "The economy will heal, but the process may be slow."
He said that this recession was unlike previous ones.
And he noted that there were reasons for optimism - but that rising public debt and the damaged banking system could still delay a recovery.
Bank of England Governor Mervyn King warns of great uncertainty for the UK economy.
Unveiling the bank’s quarterly inflation report, King said: "The economy will heal, but the process may be slow."
He said that this recession was unlike previous ones.
And he noted that there were reasons for optimism - but that rising public debt and the damaged banking system could still delay a recovery.
Tuesday, 5 May 2009
EU groups explained with cake
Link to the article: BBC News
European Union wide elections are due in June and the final session of the current European Parliament is underway in Strasbourg.
Dominic Hughes looks at how the 700-plus MEPs from 27 countries will work together.
European Union wide elections are due in June and the final session of the current European Parliament is underway in Strasbourg.
Dominic Hughes looks at how the 700-plus MEPs from 27 countries will work together.
What does an EU commissioner do?
Link to the article: BBC News
As the European elections get closer, BBC News has been to parliament to find out more about who works there and what they do.
Benita Ferrero-Waldner is an EU Commissioner who spends most of her time in Brussels and Strasbourg attending meetings, briefings and press conferences.
As the European elections get closer, BBC News has been to parliament to find out more about who works there and what they do.
Benita Ferrero-Waldner is an EU Commissioner who spends most of her time in Brussels and Strasbourg attending meetings, briefings and press conferences.
What does an MEP do?
Link to the article: BBC News
Every country in Europe is represented in the European parliament by elected members - MEPs.
But what do MEPs do? Proinsias de Rossa is an MEP for Ireland and splits his time between Brussels, Strasbourg and Dublin.
Every country in Europe is represented in the European parliament by elected members - MEPs.
But what do MEPs do? Proinsias de Rossa is an MEP for Ireland and splits his time between Brussels, Strasbourg and Dublin.
Monday, 4 May 2009
Expat business slows in Spain
Link to the article: BBC News
Many people from Britain have moved to Spain in search of the good life, but the global slowdown is hitting those who have started businesses there.
Jenny Hill reports from Malaga.
Many people from Britain have moved to Spain in search of the good life, but the global slowdown is hitting those who have started businesses there.
Jenny Hill reports from Malaga.
European economy 'will shrink 4%'
Link to the article: BBC News
The European Commission has said that the EU economy is now in its deepest recession since the second world war.
New figures released have forecasted that the economy will shrink by four per cent this year.
The forecasts are worse than previously expected, with as many as 8.5 million jobs expected to disappear, wiping out the number of new jobs created in the past year.
Mark Gregory reports.
The European Commission has said that the EU economy is now in its deepest recession since the second world war.
New figures released have forecasted that the economy will shrink by four per cent this year.
The forecasts are worse than previously expected, with as many as 8.5 million jobs expected to disappear, wiping out the number of new jobs created in the past year.
Mark Gregory reports.
Friday, 1 May 2009
Banking system 'failed at all levels'
Link to the article: Channel 4 News
A Parliamentary report concludes that bank chiefs were to blame for the economic crisis, but are they letting government and the regulators off the hook?
The number of companies going into administration or liquidation has risen by more than 50 per cent in the first quarter of the year.
The figures, released this morning by the Insolvency Service, came as the Commons' treasury committee launched a report accusing banks of failing to lend enough money to help struggling firms through the recession.
The committee said that Britain had suffered "a comprehensive failure of the banking system at all levels".
A Parliamentary report concludes that bank chiefs were to blame for the economic crisis, but are they letting government and the regulators off the hook?
The number of companies going into administration or liquidation has risen by more than 50 per cent in the first quarter of the year.
The figures, released this morning by the Insolvency Service, came as the Commons' treasury committee launched a report accusing banks of failing to lend enough money to help struggling firms through the recession.
The committee said that Britain had suffered "a comprehensive failure of the banking system at all levels".
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