By Benjamin Cohen
The internet giant announces its newest tool, combining email, messaging and wiki-style editing. But will Google Wave turn out to be just another internet fad?
Wednesday, 30 September 2009
Starbucks' latest jolt
Sept. 30 - Starbucks brews new strategies tailored to the recession and rising competition.
Bobbi Rebell, Reuters, New York.
SOUNDBITE:
# RJ Hottovi, equity analyst, Morningstar,
Bobbi Rebell, Reuters, New York.
SOUNDBITE:
# RJ Hottovi, equity analyst, Morningstar,
Jimmy Choo for H and M
Sep 30 - British luxury brand Jimmy Choo is teaming up with high street retailer H&M creating a capsule collection which will be sold in around 200 stores around the world.
Basmah Fahim reports.
Basmah Fahim reports.
Tuesday, 29 September 2009
Brown says markets 'need morals'
Link to the article: BBC News
Prime Minister Gordon Brown has said financial markets need "morals" if they are to function properly.
Speaking at the Labour conference in Brighton, he defended the government's handling of the financial crisis and stressed his economic credentials.
He vowed that the banks that were bailed out would pay back taxpayers.
And Mr Brown said the government would pass new rules covering bankers' behaviour, including disqualifying those unfit to run banks.
"Any director of any of our banks who is negligent will be disqualified from holding any such post," he said.
Prime Minister Gordon Brown has said financial markets need "morals" if they are to function properly.
Speaking at the Labour conference in Brighton, he defended the government's handling of the financial crisis and stressed his economic credentials.
He vowed that the banks that were bailed out would pay back taxpayers.
And Mr Brown said the government would pass new rules covering bankers' behaviour, including disqualifying those unfit to run banks.
"Any director of any of our banks who is negligent will be disqualified from holding any such post," he said.
Boardroom lessons for the dugout
Link to the article: BBC News
Major sports such as football, cricket, rugby, Formula 1, and many others are now recognised as being part of a multimillion pound global industry, with extensive budgets, media exposure, and customer bases.
However, despite the outward trappings of a FTSE or Dow-listed bluechip company many sports clubs, particularly in football, do not operate along traditional business lines.
Many still operate with a "fan-turned-chairman" ethos, or, at the other extreme, they are destabilised by a sudden influx of cash and become a billionaire's trophy asset.
All of which makes the jobs of both managing the team from the touchline and managing the business from the boardroom increasingly difficult.
To try to address some of these problems top business leaders and major figures in football management met at Arsenal's Emirates Stadium for the League Managers' Association (LMA) annual meeting.
Major sports such as football, cricket, rugby, Formula 1, and many others are now recognised as being part of a multimillion pound global industry, with extensive budgets, media exposure, and customer bases.
However, despite the outward trappings of a FTSE or Dow-listed bluechip company many sports clubs, particularly in football, do not operate along traditional business lines.
Many still operate with a "fan-turned-chairman" ethos, or, at the other extreme, they are destabilised by a sudden influx of cash and become a billionaire's trophy asset.
All of which makes the jobs of both managing the team from the touchline and managing the business from the boardroom increasingly difficult.
To try to address some of these problems top business leaders and major figures in football management met at Arsenal's Emirates Stadium for the League Managers' Association (LMA) annual meeting.
Visa to sponsor Olympic hopefuls
Link to the article: BBC News
Visa is to sponsor Team 2012, the 1,200 British athletes training to participate in the London Olympics, the British Olympic Association has said.
The multi-million pound deal with the US credit card giant will provide funds to help the Olympic and Paralympic hopefuls continue their preparation.
The association said it was the largest national team to gain sponsorship.
Visa is to sponsor Team 2012, the 1,200 British athletes training to participate in the London Olympics, the British Olympic Association has said.
The multi-million pound deal with the US credit card giant will provide funds to help the Olympic and Paralympic hopefuls continue their preparation.
The association said it was the largest national team to gain sponsorship.
BA launches business-only plane
Link to the article: BBC News
Transport correspondent Richard Scott takes a look at the new British Airways business class only plane.
BA chief executive Willie Walsh said he is confident about the service, which will link London's City Airport to New York.
The Airbus 318 in use will carry only 32 passengers, in seats that recline to fully flat beds.
However, the service has been criticised by environmentalists.
Transport correspondent Richard Scott takes a look at the new British Airways business class only plane.
BA chief executive Willie Walsh said he is confident about the service, which will link London's City Airport to New York.
The Airbus 318 in use will carry only 32 passengers, in seats that recline to fully flat beds.
However, the service has been criticised by environmentalists.
Ending the postal dispute?
Link to the article: Channel 4 News
By Channel 4 News
Ben King reports on how delivery disruption is hitting businesses, as Royal Mail workers take their dispute to Labour conference.
Outside the hall at the Labour party conference today will be members of the Communication Workers Union, who are there ahead of a nationwide post office strike which could start next month.
The CWU have been in an ongoing dispute with Royal Mail's management over modernisation and working practices.
Talks are on to resolve the dispute before the planned industrial action, but months of regional strikes have already caused massive disruption to postal services.
By Channel 4 News
Ben King reports on how delivery disruption is hitting businesses, as Royal Mail workers take their dispute to Labour conference.
Outside the hall at the Labour party conference today will be members of the Communication Workers Union, who are there ahead of a nationwide post office strike which could start next month.
The CWU have been in an ongoing dispute with Royal Mail's management over modernisation and working practices.
Talks are on to resolve the dispute before the planned industrial action, but months of regional strikes have already caused massive disruption to postal services.
Monday, 28 September 2009
The benefits and pitfalls of G20 shift
Link to the article: BBC Newsnight
Emily Mailtlis is joined by entrepreneur Sir David Tang, academic Dr Linda Yueh and MEP Daniel Hannan to discuss the decision to make G20 into a permanent fixture and whether it will be beneficial in avoiding future global financial crises or not.
Maitlis begins by asking Sir David whether Foreign Secretary David Miliband, who appeared on the programme just prior to the discussion, was right to say that the world needed an alliance like the expanded bloc.
Emily Mailtlis is joined by entrepreneur Sir David Tang, academic Dr Linda Yueh and MEP Daniel Hannan to discuss the decision to make G20 into a permanent fixture and whether it will be beneficial in avoiding future global financial crises or not.
Maitlis begins by asking Sir David whether Foreign Secretary David Miliband, who appeared on the programme just prior to the discussion, was right to say that the world needed an alliance like the expanded bloc.
CBI sets out plan for economic growth
Link to the article: Channel 4 News
By Channel 4 News
The CBI put forward a 12-point agenda today, setting out what any new administration should do to help put the economy on a path to sustainable growth.
The CBI said that whichever party wins the next general election, a new government should act quickly, and establish clear timetables for putting the 12 points into place within 100 days of taking power.
The business group particularly emphasised the need for a new government to commit to getting the public finances balanced by 2015 with a clear and credible plan for doing so.
This target year would require a new explicit commitment by the main political parties.
The CBI has launched the plan, titled New Government in Action: The Business Agenda, during the party conference season that precedes the next election, which must take place by June.
Its 12 priorities range from tackling youth unemployment because of its potential to scar a generation, to developing a stronger banking system.
John Cridland, CBI Deputy Director-General, said: "Any new government will have a lot to do in its early days, but the economy must be central to its plans, especially given the state of the public finances and the global downturn.
"Our proposals make clear what the priorities should be to help put our economy on the road to sustainable growth.
"The major political parties really need to focus on the public finances, even though this requires tough decisions. They should make it their ambition to set out a clear, credible plan that would return the budget to balance by 2015.
"We also emphasise the need for speed. A new administration should act quickly and decisively. This will not only put the right priorities in place quickly, but also help win confidence.
"Some of the priorities may surprise people. Not everybody expects youth unemployment to be a particular priority for business, but we know from previous recessions that it can scar generations and create lasting problems for young people as they make the transition to the world of work."
The 12 priorities spelt out in the CBI agenda are:
- Set out a sustainable path for the public finances
- Establish competitive business taxes
- Develop a strong banking system
- Prioritise energy security
- Work towards a low-carbon economy
- Develop the infrastructure for economic growth
- A global voice for UK business
- Skill students for the future
- Tackle youth unemployment (including a £2,500 subsidy for firms giving offering apprenticeships)
- Attract and cultivate enterprise and industry
- Reforming services to improve the economy
- Address public sector pensions
By Channel 4 News
The CBI put forward a 12-point agenda today, setting out what any new administration should do to help put the economy on a path to sustainable growth.
The CBI said that whichever party wins the next general election, a new government should act quickly, and establish clear timetables for putting the 12 points into place within 100 days of taking power.
The business group particularly emphasised the need for a new government to commit to getting the public finances balanced by 2015 with a clear and credible plan for doing so.
This target year would require a new explicit commitment by the main political parties.
The CBI has launched the plan, titled New Government in Action: The Business Agenda, during the party conference season that precedes the next election, which must take place by June.
Its 12 priorities range from tackling youth unemployment because of its potential to scar a generation, to developing a stronger banking system.
John Cridland, CBI Deputy Director-General, said: "Any new government will have a lot to do in its early days, but the economy must be central to its plans, especially given the state of the public finances and the global downturn.
"Our proposals make clear what the priorities should be to help put our economy on the road to sustainable growth.
"The major political parties really need to focus on the public finances, even though this requires tough decisions. They should make it their ambition to set out a clear, credible plan that would return the budget to balance by 2015.
"We also emphasise the need for speed. A new administration should act quickly and decisively. This will not only put the right priorities in place quickly, but also help win confidence.
"Some of the priorities may surprise people. Not everybody expects youth unemployment to be a particular priority for business, but we know from previous recessions that it can scar generations and create lasting problems for young people as they make the transition to the world of work."
The 12 priorities spelt out in the CBI agenda are:
- Set out a sustainable path for the public finances
- Establish competitive business taxes
- Develop a strong banking system
- Prioritise energy security
- Work towards a low-carbon economy
- Develop the infrastructure for economic growth
- A global voice for UK business
- Skill students for the future
- Tackle youth unemployment (including a £2,500 subsidy for firms giving offering apprenticeships)
- Attract and cultivate enterprise and industry
- Reforming services to improve the economy
- Address public sector pensions
Friday, 25 September 2009
Ireland's Guinness marks 250 years
Sep 25 - Ireland marks 250 years since Sir Arthur Guinness founding his stout beer brewery in Dublin.
Jennifer Marostica reports.
Jennifer Marostica reports.
Thursday, 24 September 2009
Jaguar Land Rover to close UK plant
Link to the article: Channel 4 News
By Channel 4 News
Jaguar Land Rover is closing one of its three British factories, but says there will be no compulsory redundancies.
Jaguar Land Rover has announced that it intended to close one of its factories in the West Midlands.
Either Castle Bromwich or Solihull will be closed with a final decision to be made next year.
Around 7,000 people are employed across both the sites. But Jaguar, who is owned by the Indian firm Tata, insists there will be no compulsory redundancies.
The company also said it will create 800 new jobs at its factory on Merseyside.
Jaguar Land Rover gave details of a new business plan it said was designed to increase its global competitiveness significantly, drive growth and sustained profitability, and respond to the challenges of climate change.
Chief executive David Smith said: "This is a plan that recognises the impact the economic collapse has had on our business, and at the same time the opportunities that lie ahead for these two great brands.
"We are confident that a new, more efficient and competitive structure combined with future investment will unlock the true potential of this business."
Jaguar Land Rover employs more than 14,000 people, including 2,000 at its Halewood plant near Liverpool, 5,500 at Solihull and approximately 2,200 people at Castle Bromwich.
The Castle Bromwich site thought to be most at risk, though a union agreement promises no compulsory redundancies.
The future for the company will be fuel-efficient cars. The LRX, the smallest, most fuel-efficient Range Rover ever, is to be built in Halewood, with the creation of 800 new jobs. And Jaguar will launch new, lightweight sport cars, with electric or hybrid engines.
Jaguar Land Rover has been losing money since the Indian company Tata bought it from Ford last year. Demand for its luxury cars and four-wheel drive vehicles has been hit by high fuel prices and the recession. From April to June the company lost £62m.
The company has already responded to the downturn over the past year by cutting production by 100,000, axing 2,500 jobs, freezing pay and cancelling bonuses.
Tata had asked the government for a bailout, but when the terms offered were too harsh, it managed to raise cash from private sources.
Business Secretary Lord Mandelson said: "Today's announcement of Jaguar Land Rover's business plan shows how focused it is on the future of the industry and the opportunities available as we move to a low carbon future.
"The Government will continue to do everything it can to help businesses fully exploit the opportunities that green manufacturing has to offer.
"I know that trading conditions are difficult for the car industry as a whole. It is inevitable that we will see further re-structuring across the industry.
"There is global over-capacity and car manufacturers recognise that they have to take some of this capacity out and cut back on their costs. There are opportunities and that's why we must continue to innovate and lead the way."
By Channel 4 News
Jaguar Land Rover is closing one of its three British factories, but says there will be no compulsory redundancies.
Jaguar Land Rover has announced that it intended to close one of its factories in the West Midlands.
Either Castle Bromwich or Solihull will be closed with a final decision to be made next year.
Around 7,000 people are employed across both the sites. But Jaguar, who is owned by the Indian firm Tata, insists there will be no compulsory redundancies.
The company also said it will create 800 new jobs at its factory on Merseyside.
Jaguar Land Rover gave details of a new business plan it said was designed to increase its global competitiveness significantly, drive growth and sustained profitability, and respond to the challenges of climate change.
Chief executive David Smith said: "This is a plan that recognises the impact the economic collapse has had on our business, and at the same time the opportunities that lie ahead for these two great brands.
"We are confident that a new, more efficient and competitive structure combined with future investment will unlock the true potential of this business."
Jaguar Land Rover employs more than 14,000 people, including 2,000 at its Halewood plant near Liverpool, 5,500 at Solihull and approximately 2,200 people at Castle Bromwich.
The Castle Bromwich site thought to be most at risk, though a union agreement promises no compulsory redundancies.
The future for the company will be fuel-efficient cars. The LRX, the smallest, most fuel-efficient Range Rover ever, is to be built in Halewood, with the creation of 800 new jobs. And Jaguar will launch new, lightweight sport cars, with electric or hybrid engines.
Jaguar Land Rover has been losing money since the Indian company Tata bought it from Ford last year. Demand for its luxury cars and four-wheel drive vehicles has been hit by high fuel prices and the recession. From April to June the company lost £62m.
The company has already responded to the downturn over the past year by cutting production by 100,000, axing 2,500 jobs, freezing pay and cancelling bonuses.
Tata had asked the government for a bailout, but when the terms offered were too harsh, it managed to raise cash from private sources.
Business Secretary Lord Mandelson said: "Today's announcement of Jaguar Land Rover's business plan shows how focused it is on the future of the industry and the opportunities available as we move to a low carbon future.
"The Government will continue to do everything it can to help businesses fully exploit the opportunities that green manufacturing has to offer.
"I know that trading conditions are difficult for the car industry as a whole. It is inevitable that we will see further re-structuring across the industry.
"There is global over-capacity and car manufacturers recognise that they have to take some of this capacity out and cut back on their costs. There are opportunities and that's why we must continue to innovate and lead the way."
Wednesday, 23 September 2009
World's cheapest car is unveiled
Link to the video: BBC News
he Tata Nano, the world's cheapest car, has been launched in India.
Costing just 100,000 rupees ($1,979; £1,366), the Nano will now go on sale across India next month.
he Tata Nano, the world's cheapest car, has been launched in India.
Costing just 100,000 rupees ($1,979; £1,366), the Nano will now go on sale across India next month.
Tuesday, 22 September 2009
£129m fines for construction firms
Link to the article: Channel 4 News
By Channel 4 News
Some of the country's biggest construction firms are fined millions of pounds for illegally rigging contracts across England at the taxpayers' expense. Faisal Islam reports.
The Office of Fair Trading found firms guilty of anti-competitive collusion during the bidding process and warned the practice had been "endemic" throughout the industry. But the companies involved will not be barred from future tenders for public sector work. And the fines, which follow a five-year investigation, are far lower than had been expected.
The OFT found 4,000 instances of bid-rigging involving more than 1,000 companies but only focused on the cases where the evidence was strongest.
Most of the cases came in the form of so-called "cover pricing", where one or more bidders arrange for competitors to put in high bids so they will not win the contract, but will increase the appearance of competition.
By Channel 4 News
Some of the country's biggest construction firms are fined millions of pounds for illegally rigging contracts across England at the taxpayers' expense. Faisal Islam reports.
The Office of Fair Trading found firms guilty of anti-competitive collusion during the bidding process and warned the practice had been "endemic" throughout the industry. But the companies involved will not be barred from future tenders for public sector work. And the fines, which follow a five-year investigation, are far lower than had been expected.
The OFT found 4,000 instances of bid-rigging involving more than 1,000 companies but only focused on the cases where the evidence was strongest.
Most of the cases came in the form of so-called "cover pricing", where one or more bidders arrange for competitors to put in high bids so they will not win the contract, but will increase the appearance of competition.
Monday, 21 September 2009
Adidas and Puma end feud
Link to the article: Channel 4 News
By Channel 4 News
More than 60 years after a feud between brothers Adi and Rudolf Dassler produced the Adidas and Puma sportswear firms, the two companies are making peace for one day.
A historic handshake today between the chief executives of the two firms was followed by a football match in which employees from both companies played on mixed teams to celebrate International Peace Day.
"We are uniting on this day as a commitment to Peace Day," Puma CEO and Chairman Jochen Zeitz said in the statement.
In a joint statement last week, the two companies said they were making up to support the Peace One Day organisation, which has its annual non-violence day today.
They say that the events will be the first joint activities held by the two companies since the brothers left their shared firm in 1948.
"I am looking very much forward to our Adidas and Puma football match and I hope that our joint initiative helps to raise further awareness for Peace One Day around the world" – Adidas CEO Herbert Hainer.
Company split
In 1924 Rudolf Dassler joined his brother Adolf’s sports shoe business, which subsequently became Gebruder Dassler Schuhfabrik.
In 1936 the company provided the spiked shoes for Jesse Owens, who went on to win four gold medals in the Berlin Olympics that year.
But the brothers fell out during the war, and in 1947 went on to found separate companies. Rudolf formed a new firm called Ruda (from Rudolf Dassler), later renamed Puma. Adolf formed Adidas (Adi Dassler).
The rivalry that developed between the two companies even divided the firms' home town of Herzogenaurach, a small town of 23,000 people in southern Germany, where Adidas and Puma have rival factories on opposite sides of the river.
Both names went on to become huge global brands and continue to dominate the trainer market today in both fashion and professional sport.
The world's fastest man Usain Bolt wears Puma shoes, while tennis star Novak Djokovic is sponsored by Adidas.
Neither group is now controlled by the descendants of its founding families, although Rudolf's grandson Frank Dassler raised some eyebrows in the town by working for both Puma and Adidas.
Since 2007, Puma has been majority-owned by PPR, the French luxury goods maker that also owns Gucci.
Adidas Group is much more widely-owned, with no individual shareholder having more than 5 per cent.
By Channel 4 News
More than 60 years after a feud between brothers Adi and Rudolf Dassler produced the Adidas and Puma sportswear firms, the two companies are making peace for one day.
A historic handshake today between the chief executives of the two firms was followed by a football match in which employees from both companies played on mixed teams to celebrate International Peace Day.
"We are uniting on this day as a commitment to Peace Day," Puma CEO and Chairman Jochen Zeitz said in the statement.
In a joint statement last week, the two companies said they were making up to support the Peace One Day organisation, which has its annual non-violence day today.
They say that the events will be the first joint activities held by the two companies since the brothers left their shared firm in 1948.
"I am looking very much forward to our Adidas and Puma football match and I hope that our joint initiative helps to raise further awareness for Peace One Day around the world" – Adidas CEO Herbert Hainer.
Company split
In 1924 Rudolf Dassler joined his brother Adolf’s sports shoe business, which subsequently became Gebruder Dassler Schuhfabrik.
In 1936 the company provided the spiked shoes for Jesse Owens, who went on to win four gold medals in the Berlin Olympics that year.
But the brothers fell out during the war, and in 1947 went on to found separate companies. Rudolf formed a new firm called Ruda (from Rudolf Dassler), later renamed Puma. Adolf formed Adidas (Adi Dassler).
The rivalry that developed between the two companies even divided the firms' home town of Herzogenaurach, a small town of 23,000 people in southern Germany, where Adidas and Puma have rival factories on opposite sides of the river.
Both names went on to become huge global brands and continue to dominate the trainer market today in both fashion and professional sport.
The world's fastest man Usain Bolt wears Puma shoes, while tennis star Novak Djokovic is sponsored by Adidas.
Neither group is now controlled by the descendants of its founding families, although Rudolf's grandson Frank Dassler raised some eyebrows in the town by working for both Puma and Adidas.
Since 2007, Puma has been majority-owned by PPR, the French luxury goods maker that also owns Gucci.
Adidas Group is much more widely-owned, with no individual shareholder having more than 5 per cent.
Pension 'quality mark' unveiled
Link to the article: Channel 4 News
By Channel 4 News
Pension funds launch a scheme aimed at rebuilding workplace confidence in pensions and making them understandable.
The pension quality mark is being awarded to schemes which meet a range of criteria.
The annual contribution must equal 10 per cent or more of an employee's salary, with at least six per cent of that coming from the employer.
Management charges should not exceed 1% of the total value of the fund.
A number of big companies, including Marks & Spencer, Kellogg's and the computer giant IBM, were awarded the quality mark today.
Samira Ahmed spoke to Nigel Peaple, director of policy at the National Association of Pension Funds, which is launching the scheme.
By Channel 4 News
Pension funds launch a scheme aimed at rebuilding workplace confidence in pensions and making them understandable.
The pension quality mark is being awarded to schemes which meet a range of criteria.
The annual contribution must equal 10 per cent or more of an employee's salary, with at least six per cent of that coming from the employer.
Management charges should not exceed 1% of the total value of the fund.
A number of big companies, including Marks & Spencer, Kellogg's and the computer giant IBM, were awarded the quality mark today.
Samira Ahmed spoke to Nigel Peaple, director of policy at the National Association of Pension Funds, which is launching the scheme.
Friday, 18 September 2009
Top brand values fall in recession
Link to the article and video: BBC News
For the first time in 10 years, the total value of the World's top 100 brands has fallen.
Coca Cola and IBM remain top of the league but the recession has battered overall brand value badly, with the financial services and automotive sectors especially hit.
Philip Hampsheir reports.
For the first time in 10 years, the total value of the World's top 100 brands has fallen.
Coca Cola and IBM remain top of the league but the recession has battered overall brand value badly, with the financial services and automotive sectors especially hit.
Philip Hampsheir reports.
Probe into unfair internet pricing
Link to the article: Channel 4 News
By Channel 4 News
The Office of Fair Trading is looking into internet advertising, with so-called "drip pricing" likely to come under the spotlight.
It is a story familiar to many internet shoppers - you spot a bargain price, but when you go to the website, the extra charges pile up, and before you know it, a price which is "too good to be true" turns out to be just that.
As a test Channel 4 News tried to book a flight to Geneva next month on a budget airline website. The initial price was a tempting £37. But when you add £14.50 for priority boarding, £16 for a hold bag, and £6.95 for paying by credit card, the price ended up at over £90.
Now the Office of Fair Trading is investigating internet advertising and additional costs.
Matthew Bath from the consumer group, Which, told Channel 4 News:
"Where these companies fall down in our eyes is that they are not being transparent and clear certainly with these kinds of unavoidable charges.
"Paying by credit card offers consumers a lot of protection. But often extra charges for credit card payments are tacked on late in the game. Those charges should be right up there at the beginning, at the advertising stage."
By Channel 4 News
The Office of Fair Trading is looking into internet advertising, with so-called "drip pricing" likely to come under the spotlight.
It is a story familiar to many internet shoppers - you spot a bargain price, but when you go to the website, the extra charges pile up, and before you know it, a price which is "too good to be true" turns out to be just that.
As a test Channel 4 News tried to book a flight to Geneva next month on a budget airline website. The initial price was a tempting £37. But when you add £14.50 for priority boarding, £16 for a hold bag, and £6.95 for paying by credit card, the price ended up at over £90.
Now the Office of Fair Trading is investigating internet advertising and additional costs.
Matthew Bath from the consumer group, Which, told Channel 4 News:
"Where these companies fall down in our eyes is that they are not being transparent and clear certainly with these kinds of unavoidable charges.
"Paying by credit card offers consumers a lot of protection. But often extra charges for credit card payments are tacked on late in the game. Those charges should be right up there at the beginning, at the advertising stage."
Thursday, 17 September 2009
Video adverts launched in the US
Link to the article: BBC News
Rajesh Mirchandani takes a look at the latest battle in the media advertising war: video adverts inside magazines.
The latest edition of showbiz title Entertainment Weekly contains magazine ads that move. It is a similar principle to singing greetings card and was in fact developed by the same company.
But this 21st century version consists of a microchip holding digitized data that is connected to a speaker and a screen akin to some mobile phones. It is powered by a small rechargeable battery and mounted on cardboard, so is instantly distinguishable from a normal flimsy page.
And that means you can't really flick through the magazine, because the four-page insert that includes the video screen is relatively bulky. And when you do open up the relevant page, the actual advert takes several seconds to load and play.
Copies of the magazine containing the screens are being sent out to a few thousand subscribers in Los Angeles and New York.
Rajesh Mirchandani takes a look at the latest battle in the media advertising war: video adverts inside magazines.
The latest edition of showbiz title Entertainment Weekly contains magazine ads that move. It is a similar principle to singing greetings card and was in fact developed by the same company.
But this 21st century version consists of a microchip holding digitized data that is connected to a speaker and a screen akin to some mobile phones. It is powered by a small rechargeable battery and mounted on cardboard, so is instantly distinguishable from a normal flimsy page.
And that means you can't really flick through the magazine, because the four-page insert that includes the video screen is relatively bulky. And when you do open up the relevant page, the actual advert takes several seconds to load and play.
Copies of the magazine containing the screens are being sent out to a few thousand subscribers in Los Angeles and New York.
Postal workers vote on strike action
Link to the article: Channel 4 News
By Channel 4 News
Ballot papers are sent to 120,000 postmen and women as the threat of a national postal strike over pay, jobs and services comes a step closer.
The Communication Workers Union (CWU) said the result of the national strike ballot will be known early next month.
A long-running row over pay, jobs and services has already sparked a series of walkouts across the country over the past few months which has disrupted mail deliveries.
Deputy general secretary Dave Ward said: "Without agreement there can be no successful change in Royal Mail.
"This is a simple message which Royal Mail management needs to take on board.
"Postal workers are striking to defend future services as well as for jobs and modern conditions.
"Modernisation is crucial to the future success of Royal Mail, but the implementation of change must be agreed and it must bring with it modern pay and conditions.
"Postal workers deserve to be rewarded for change. We want to see a new job security agreement which will help people through this time of change for the company.
"CWU is focused on defending jobs and public services. Modernisation should improve services not cut them."
Mr Ward added: "We believe that Royal Mail management has completely mishandled the current situation.
"Disruption is hurting small businesses and other consumers, but postal workers are suffering more than anyone in the current dispute.
"Small businesses stand to suffer more with reduced services in the future if Royal Mail doesn't reach a national agreement."
A number of business groups have urged the Government to intervene in the dispute which has already caused a backlog of undelivered mail.
Royal Mail managing director Mark Higson said: "The ballot further underlines the CWU's determination to renege on the existing 2007 agreement on pay and modernisation which the union's leadership signed in the presence of the TUC.
"It beggars belief that CWU chief Dave Ward says today that the disruption caused by the CWU strike is hurting customers, yet at the same time calls a national strike ballot to step up the damage they are already inflicting on customers big and small.
"The CWU leadership is well aware that it has already agreed all the changes Royal Mail is making and we urge them to recognise the tough economic conditions faced by all our customers and Royal Mail itself and to live up to their claims to support modernisation and to focus - as the company is doing- on delivering the postal service on which so many customers depend."
By Channel 4 News
Ballot papers are sent to 120,000 postmen and women as the threat of a national postal strike over pay, jobs and services comes a step closer.
The Communication Workers Union (CWU) said the result of the national strike ballot will be known early next month.
A long-running row over pay, jobs and services has already sparked a series of walkouts across the country over the past few months which has disrupted mail deliveries.
Deputy general secretary Dave Ward said: "Without agreement there can be no successful change in Royal Mail.
"This is a simple message which Royal Mail management needs to take on board.
"Postal workers are striking to defend future services as well as for jobs and modern conditions.
"Modernisation is crucial to the future success of Royal Mail, but the implementation of change must be agreed and it must bring with it modern pay and conditions.
"Postal workers deserve to be rewarded for change. We want to see a new job security agreement which will help people through this time of change for the company.
"CWU is focused on defending jobs and public services. Modernisation should improve services not cut them."
Mr Ward added: "We believe that Royal Mail management has completely mishandled the current situation.
"Disruption is hurting small businesses and other consumers, but postal workers are suffering more than anyone in the current dispute.
"Small businesses stand to suffer more with reduced services in the future if Royal Mail doesn't reach a national agreement."
A number of business groups have urged the Government to intervene in the dispute which has already caused a backlog of undelivered mail.
Royal Mail managing director Mark Higson said: "The ballot further underlines the CWU's determination to renege on the existing 2007 agreement on pay and modernisation which the union's leadership signed in the presence of the TUC.
"It beggars belief that CWU chief Dave Ward says today that the disruption caused by the CWU strike is hurting customers, yet at the same time calls a national strike ballot to step up the damage they are already inflicting on customers big and small.
"The CWU leadership is well aware that it has already agreed all the changes Royal Mail is making and we urge them to recognise the tough economic conditions faced by all our customers and Royal Mail itself and to live up to their claims to support modernisation and to focus - as the company is doing- on delivering the postal service on which so many customers depend."
Wednesday, 16 September 2009
‘This could affect the political debate’
Lin to the article: Channel 4 News
Updated on 16 September 2009
By Channel 4 News
Today’s leaked Treasury document tells us things we didn’t know before about the UK’s economic prospects, explains Channel 4 News economics correspondent Faisal Islam.
Krishnan Guru-Murthy speaks to Faisal Islam about the significance of today's leak by the Conservatives of a Treasury document containing departmental budget forecasts up until 2014.
Updated on 16 September 2009
By Channel 4 News
Today’s leaked Treasury document tells us things we didn’t know before about the UK’s economic prospects, explains Channel 4 News economics correspondent Faisal Islam.
Krishnan Guru-Murthy speaks to Faisal Islam about the significance of today's leak by the Conservatives of a Treasury document containing departmental budget forecasts up until 2014.
Unemployment at highest level since 1995
Link to the article: Channel 4 News
By Channel 4 News
The number of unemployed people rises 210,000 to 2.47 million between May and July - but those claiming jobseeker's allowance in August rose by only 24,400, to 1.61 million.
It is the 18th month in a row that the number seeking jobseeker's allowance has risen, bringing the figure to its highest level since May 1997 according to the Office for National Statistics (ONS).
The number of unemployed people between the ages of 16 and 24 reached 947,000, the highest level since ONS records began in 1992.
The jobless rate among this age group is also a record 19.7 per cent, while the overall unemployment rate is now 7.9 per cent, up 0.7 per cent on the previous three months and the highest proportion of the workforce since November 1996.
However, the number of people employed in the public sector rose between by April and June by 13,000 to 6.04m and their average pay had increased by 3.4 per cent, compared with 1.2 per cent in the private sector.
Paul Kenny, general secretary of the GMB union, said: "More workers, particularly young workers, are paying a devastating price for the bankers' recession and there is some way to go before unemployment stops rising.
"Yesterday the Tories threatened 10,000 jobs secured on building the aircraft carriers in Fife, Glasgow and Portsmouth and other parts of the UK.
"We need to be clear with the electorate, the Tory plan to cut public spending will stall an economic recovery and add to the dole queues. It is madness and must be opposed."
By Channel 4 News
The number of unemployed people rises 210,000 to 2.47 million between May and July - but those claiming jobseeker's allowance in August rose by only 24,400, to 1.61 million.
It is the 18th month in a row that the number seeking jobseeker's allowance has risen, bringing the figure to its highest level since May 1997 according to the Office for National Statistics (ONS).
The number of unemployed people between the ages of 16 and 24 reached 947,000, the highest level since ONS records began in 1992.
The jobless rate among this age group is also a record 19.7 per cent, while the overall unemployment rate is now 7.9 per cent, up 0.7 per cent on the previous three months and the highest proportion of the workforce since November 1996.
However, the number of people employed in the public sector rose between by April and June by 13,000 to 6.04m and their average pay had increased by 3.4 per cent, compared with 1.2 per cent in the private sector.
Paul Kenny, general secretary of the GMB union, said: "More workers, particularly young workers, are paying a devastating price for the bankers' recession and there is some way to go before unemployment stops rising.
"Yesterday the Tories threatened 10,000 jobs secured on building the aircraft carriers in Fife, Glasgow and Portsmouth and other parts of the UK.
"We need to be clear with the electorate, the Tory plan to cut public spending will stall an economic recovery and add to the dole queues. It is madness and must be opposed."
Tuesday, 15 September 2009
Electric Trabant unveiled
Link to the article: Channel 4 News
By Channel 4 News
The exhaust-belching Trabant came to symbolise communist East Germany. But today sees the launch of a new eco-friendly electric version of the car.
The Trabant was first produced in 1957 and discontinued in 1991, and was regarded a symbol of East Germany. Notorious for being unreliable, it was labelled "the worst car in the world", with waiting lists extending to 14 years.
It provided cheap transportation for generations of eastern bloc workers before the fall of the Berlin wall. So can a communist dinosaur become a cult collectible?
Trabant Enthusiast Christian Meichsner spoke to Channel 4 News.
By Channel 4 News
The exhaust-belching Trabant came to symbolise communist East Germany. But today sees the launch of a new eco-friendly electric version of the car.
The Trabant was first produced in 1957 and discontinued in 1991, and was regarded a symbol of East Germany. Notorious for being unreliable, it was labelled "the worst car in the world", with waiting lists extending to 14 years.
It provided cheap transportation for generations of eastern bloc workers before the fall of the Berlin wall. So can a communist dinosaur become a cult collectible?
Trabant Enthusiast Christian Meichsner spoke to Channel 4 News.
Barclays tops complaints list
Link to the article: Channel 4 News
Source PA News
Barclays was named as the UK's most complained about bank after the industry's ombudsman received more than 8,000 customer grievances in the first half of the year.
The Financial Ombudsman Service (FOS) said it had been a record six months for complaints in the industry, with a total of 69,841 overall.
Taxpayer-backed institutions also showed a poor outcome, led by Lloyds Banking Group, which notched up 6,947 complaints for the Lloyds TSB business alone.
Fellow part-nationalised group Royal Bank of Scotland (RBS) saw around 4,200 complaints between its RBS and NatWest brands.
The UK's five biggest banks accounted for more than half of all the complaints the FOS received during the first half of the year - the first time that individual companies have been named.
Lloyds, Barclays, RBS, Abbey and HSBC Group all received more than 3,000 complaints each during the six months to the end of June, accounting for a total of 38,286 cases, the ombudsman said.
Banks received high levels of complaints about banking services, such as current accounts, and credit, including credit cards and loans.
People also complained about general insurance products, including controversial payment protection insurance, which is sold alongside credit agreements and is currently the single most complained about product.
Overall, the FOS, which handles disputes between consumers and financial services firms, said total complaints received in the six months to the end of June had soared 22% year-on-year to its highest ever for the period.
And the number of complaints upheld in favour of consumers also hit a new high, at an average of 59%.
Source PA News
Barclays was named as the UK's most complained about bank after the industry's ombudsman received more than 8,000 customer grievances in the first half of the year.
The Financial Ombudsman Service (FOS) said it had been a record six months for complaints in the industry, with a total of 69,841 overall.
Taxpayer-backed institutions also showed a poor outcome, led by Lloyds Banking Group, which notched up 6,947 complaints for the Lloyds TSB business alone.
Fellow part-nationalised group Royal Bank of Scotland (RBS) saw around 4,200 complaints between its RBS and NatWest brands.
The UK's five biggest banks accounted for more than half of all the complaints the FOS received during the first half of the year - the first time that individual companies have been named.
Lloyds, Barclays, RBS, Abbey and HSBC Group all received more than 3,000 complaints each during the six months to the end of June, accounting for a total of 38,286 cases, the ombudsman said.
Banks received high levels of complaints about banking services, such as current accounts, and credit, including credit cards and loans.
People also complained about general insurance products, including controversial payment protection insurance, which is sold alongside credit agreements and is currently the single most complained about product.
Overall, the FOS, which handles disputes between consumers and financial services firms, said total complaints received in the six months to the end of June had soared 22% year-on-year to its highest ever for the period.
And the number of complaints upheld in favour of consumers also hit a new high, at an average of 59%.
Discount supermarket growth slows
Link to the article at Channel 4 News
Source PA News
Discount supermarkets are giving back the strong gains made last year when hard-pressed shoppers hunted for savings, according to new figures.
Mainstream rivals have fought back against stores such as Aldi and Lidl as food price inflation also eased, according to TNS Worldpanel.
Aldi's till takings were 8% ahead of a year earlier in the 12 weeks to September 6 - but this is well below the 26% year-on-year growth seen late last year. Rival Lidl saw 5.2% growth in line with the market.
TNS Worldpanel director Ed Garner said the figures "increasingly confirm the impression that 'recession panic' is ebbing away as far as the grocery market is concerned".
"Food remains a manageable proportion of most household budgets by historical standards and, it could be argued, the grocery sector suffered from an over-reaction at the end of 2008," Mr Garner said.
The figures came as official data showed annual food price inflation at 1.9% - its lowest level in more than three years - after a better than expected European harvest helped bring wheat prices down.
Waitrose enjoyed its strongest growth since August 2006, with till takings 11.2% ahead of last year and its market share up from 3.7%, although the group received some help from its acquisition of 13 Somerfield stores.
Meanwhile, market leader Tesco continued to lose ground to its UK rivals, with its share slipping from 31.1% to 30.9% and growth at 4.6% - below the level of the wider market.
Morrisons was the strongest performer among Tesco's main rivals. The firm's share jumped from 10.8% to 11.3% after 9.3% growth over a year earlier.
Source PA News
Discount supermarkets are giving back the strong gains made last year when hard-pressed shoppers hunted for savings, according to new figures.
Mainstream rivals have fought back against stores such as Aldi and Lidl as food price inflation also eased, according to TNS Worldpanel.
Aldi's till takings were 8% ahead of a year earlier in the 12 weeks to September 6 - but this is well below the 26% year-on-year growth seen late last year. Rival Lidl saw 5.2% growth in line with the market.
TNS Worldpanel director Ed Garner said the figures "increasingly confirm the impression that 'recession panic' is ebbing away as far as the grocery market is concerned".
"Food remains a manageable proportion of most household budgets by historical standards and, it could be argued, the grocery sector suffered from an over-reaction at the end of 2008," Mr Garner said.
The figures came as official data showed annual food price inflation at 1.9% - its lowest level in more than three years - after a better than expected European harvest helped bring wheat prices down.
Waitrose enjoyed its strongest growth since August 2006, with till takings 11.2% ahead of last year and its market share up from 3.7%, although the group received some help from its acquisition of 13 Somerfield stores.
Meanwhile, market leader Tesco continued to lose ground to its UK rivals, with its share slipping from 31.1% to 30.9% and growth at 4.6% - below the level of the wider market.
Morrisons was the strongest performer among Tesco's main rivals. The firm's share jumped from 10.8% to 11.3% after 9.3% growth over a year earlier.
Monday, 14 September 2009
Lehman Brothers collapse, one year on
Link to the article: Channel 4 News
By Channel 4 News
Lehman Brothers bankrupt, AIG rescued and HBOS-Lloyds merge - we look back at the week that triggered a financial meltdown.
On this day in 2008 banking giant Lehman Brothers collapsed.
It was the largest financial bankruptcy in US history and triggered a global financial meltdown whose repercussions are still being felt.
As Channel 4 News reported, the week of 15-19 September 2008 was one of economic turmoil which also saw Merrill Lynch bought, AIG rescued and a HBOS-Lloyds merger.
Click on article link for time lines of the Lehman Banking Collapse.
By Channel 4 News
Lehman Brothers bankrupt, AIG rescued and HBOS-Lloyds merge - we look back at the week that triggered a financial meltdown.
On this day in 2008 banking giant Lehman Brothers collapsed.
It was the largest financial bankruptcy in US history and triggered a global financial meltdown whose repercussions are still being felt.
As Channel 4 News reported, the week of 15-19 September 2008 was one of economic turmoil which also saw Merrill Lynch bought, AIG rescued and a HBOS-Lloyds merger.
Click on article link for time lines of the Lehman Banking Collapse.
Sunday, 13 September 2009
Product placement rules to change
Link to the article: Channel 4 News
By Channel 4 News
Will the future of television suddenly start looking quite a bit more commercial?
Product placement for money has been a taboo in British TV, and as recently as March the government reaffirmed its opposition to it.
But there are now strong indications that opposition is being dropped.
By Channel 4 News
Will the future of television suddenly start looking quite a bit more commercial?
Product placement for money has been a taboo in British TV, and as recently as March the government reaffirmed its opposition to it.
But there are now strong indications that opposition is being dropped.
Cadbury spurns 'low growth' Kraft
Link to the article: BBC News
UK confectioner Cadbury has said would-be suitor Kraft has a "low growth" business model, and that a tie-up between the firms is "unappealing".
Last week Cadbury rejected a £10.2bn approach from Kraft Foods, saying the approach "fundamentally undervalued" the Dairy Milk maker.
Now Cadbury chairman Roger Carr has sent an open letter to Kraft chief executive Irene Rosenfeld.
He said the Kraft proposal was "of uncertain value" for his shareholders.
The letter also says that under Kraft's offer, "Cadbury would be absorbed into Kraft's low growth, conglomerate business model, an unappealing prospect".
Cadbury statement re Kraft Foods proposal
UK confectioner Cadbury has said would-be suitor Kraft has a "low growth" business model, and that a tie-up between the firms is "unappealing".
Last week Cadbury rejected a £10.2bn approach from Kraft Foods, saying the approach "fundamentally undervalued" the Dairy Milk maker.
Now Cadbury chairman Roger Carr has sent an open letter to Kraft chief executive Irene Rosenfeld.
He said the Kraft proposal was "of uncertain value" for his shareholders.
The letter also says that under Kraft's offer, "Cadbury would be absorbed into Kraft's low growth, conglomerate business model, an unappealing prospect".
Cadbury statement re Kraft Foods proposal
Unions fear further unemployment
Link to the article: Channel News
Cutting public spending would prolong the recession and lead to unemployment soaring to four million, the country's most senior union leaders have warned.
Speaking ahead of the TUC conference in Liverpool, its general secretary Brendan Barber said there could be industrial and social unrest if future governments attempted to slash public sector jobs.
Gordon Brown will address the conference on Tuesday but unions are already warning they will not support cuts.
Mark Serwotka, general secretary of the Public and Commercial Services union, said he feared there will be "huge" spending cuts, whichever party wins the election.
"Cuts will be quicker and deeper under the Tories, but there will be no golden era under Labour," he told a news conference in Liverpool, ahead of the TUC Congress, which opens tomorrow.
Mr Serwotka said the current debate about the state of public finances was merely preparing the ground for a "massive onslaught" on spending.
Cutting public spending would prolong the recession and lead to unemployment soaring to four million, the country's most senior union leaders have warned.
Speaking ahead of the TUC conference in Liverpool, its general secretary Brendan Barber said there could be industrial and social unrest if future governments attempted to slash public sector jobs.
Gordon Brown will address the conference on Tuesday but unions are already warning they will not support cuts.
Mark Serwotka, general secretary of the Public and Commercial Services union, said he feared there will be "huge" spending cuts, whichever party wins the election.
"Cuts will be quicker and deeper under the Tories, but there will be no golden era under Labour," he told a news conference in Liverpool, ahead of the TUC Congress, which opens tomorrow.
Mr Serwotka said the current debate about the state of public finances was merely preparing the ground for a "massive onslaught" on spending.
Saturday, 12 September 2009
Arctic North East Passage breakthrough
Link to the article: Channel 4 News
By Channel 4 News
Two merchant ships open up the Arctic's North East Passage, which has been the dream of seafarers for 500 years. Jane Dodge reports.
Explorers have died trying to conquer the dangerous route, once ice-covered across the top of the world and frozen solid for centuries.
But global warming has pushed back the ice, and this weekend two German-owned vessels are expected to get through with ease.
Shipping firms hope they can now open the passage to worldwide trade.
By Channel 4 News
Two merchant ships open up the Arctic's North East Passage, which has been the dream of seafarers for 500 years. Jane Dodge reports.
Explorers have died trying to conquer the dangerous route, once ice-covered across the top of the world and frozen solid for centuries.
But global warming has pushed back the ice, and this weekend two German-owned vessels are expected to get through with ease.
Shipping firms hope they can now open the passage to worldwide trade.
Thursday, 10 September 2009
Making cash: what is Twitter doing?
Link to the article: Channel 4 News
By Benjamin Cohen
The microblogging site Twitter goes offline with Twestival Local, hundreds of events around the world bringing Tweeters together to raise money for charity. But can Twitter make money for itself?
It is one of the world's most popular websites, allowing people to send instant messages to online followers and friends.
But despite the increasing commercialisation of its service Twitter itself isn't making any money and still has no revenue stream of its own.
By Benjamin Cohen
The microblogging site Twitter goes offline with Twestival Local, hundreds of events around the world bringing Tweeters together to raise money for charity. But can Twitter make money for itself?
It is one of the world's most popular websites, allowing people to send instant messages to online followers and friends.
But despite the increasing commercialisation of its service Twitter itself isn't making any money and still has no revenue stream of its own.
Small-scale brewing grows in popularity
Link to the article: Channel 4 News
By Rags Martel
The big manufacturers may be shutting breweries but it seems that making beer is proving a big draw on a smaller scale.
More than 70 microbreweries were set up in the UK last year and there are now more than at any time since the second world war.
And it is not just men with beards and pot bellies who are getting a taste for real ale.
By Rags Martel
The big manufacturers may be shutting breweries but it seems that making beer is proving a big draw on a smaller scale.
More than 70 microbreweries were set up in the UK last year and there are now more than at any time since the second world war.
And it is not just men with beards and pot bellies who are getting a taste for real ale.
Vauxhall deal puts British jobs under threat
Link to the article: Channel 4 News
By Channel 4 News
Fears are growing over thousands of British jobs following the decision by General Motors to sell Vauxhall and the rest of its European business to the Canadian parts maker Magna.
Germany stumped up billions of pounds to secure the deal and will now keep all four of its car plants open.
Chancellor Angela Merkel could barely contain her delight but workers at the UK's two plants in Luton and Ellesmere Port said they were "devastated" at the news and feared for their long-term future.
The deal suggests the British plants will continue to produce vehicles until 2012, but after that only production plants in Germany are likely to have a guaranteed future.
Pat McFadden MP, minister for business, told Channel 4 News: "We've been told that Magna see a continued production future in both Ellesmere Port and Luton.
"I don't think they've put a time limit on that.
"What we want to do in the weeks and months ahead is to make sure there is a future for both of those plants.
"Peter Mandelson has been in constant touch with both Magna and the General Motors board. We've been talking to all parties throughout this.
"There has not been a negotiating table that we haven't been at. If there's been a meeting in Germany that we've not been at I'm sure there's been a meeting in the UK they've not been at.
"I don't think you can say that somehow we have not been active on this. I don't think that's what the union are saying today. They know that we've made significant efforts on their behalf.
"I've got confidence in the UK workforce and the products they make and we want to make sure they've got a secure future going forward."
General Motors has been considering rival bids for its European arm of the company since filing for bankruptcy earlier this year. A competing bid was made by RHJ International, a Brussels-based investment house.
Unite's joint general-secretary Tony Woodley said: "I think we could have had an unmitigated disaster if General Motors had gone into receivership and liquidation. But we've got a major disappointment.
"Magna clearly are not our preferred buyer because their plans for Britain at the moment allow us to be uncertain about the future of both our Luton and Ellesmere Port plants.
"It's secure at the moment for the next four years certainly in both of those plants but time flies and in our industry we require 14 years' security.
"I don't think either of the plants have a very clear long-term future at the moment because the Magna deal identifies a lack of investment and lack of product beyond the new Astra at Ellesmere Port that's just coming off the tracks now and beyond the deal with Renault that sees vans coming off the Luton tracks.
"You've got a general election in Germany. They've obviously been prepared to put politics at the forefront and offer Magna a blank cheque.
"Germany's the largest partner in General Motors Europe. It's got most of the plants and most of the employees so they've got to cut a deal but the deal is far from done and dusted here. If I was sitting in the Antwerp plant I'd be much more worried than my Vauxhall plants at the moment.
"But we've got to get the Government back on board and make it clear to Magna they can't sack our people and expect to pick up our marketplace, the goodwill of a workforce and maybe as much as £500 million from the Government.
"So there are some hard negotiations now to take place."
More videos linked to article at Channel 4 News
By Channel 4 News
Fears are growing over thousands of British jobs following the decision by General Motors to sell Vauxhall and the rest of its European business to the Canadian parts maker Magna.
Germany stumped up billions of pounds to secure the deal and will now keep all four of its car plants open.
Chancellor Angela Merkel could barely contain her delight but workers at the UK's two plants in Luton and Ellesmere Port said they were "devastated" at the news and feared for their long-term future.
The deal suggests the British plants will continue to produce vehicles until 2012, but after that only production plants in Germany are likely to have a guaranteed future.
Pat McFadden MP, minister for business, told Channel 4 News: "We've been told that Magna see a continued production future in both Ellesmere Port and Luton.
"I don't think they've put a time limit on that.
"What we want to do in the weeks and months ahead is to make sure there is a future for both of those plants.
"Peter Mandelson has been in constant touch with both Magna and the General Motors board. We've been talking to all parties throughout this.
"There has not been a negotiating table that we haven't been at. If there's been a meeting in Germany that we've not been at I'm sure there's been a meeting in the UK they've not been at.
"I don't think you can say that somehow we have not been active on this. I don't think that's what the union are saying today. They know that we've made significant efforts on their behalf.
"I've got confidence in the UK workforce and the products they make and we want to make sure they've got a secure future going forward."
General Motors has been considering rival bids for its European arm of the company since filing for bankruptcy earlier this year. A competing bid was made by RHJ International, a Brussels-based investment house.
Unite's joint general-secretary Tony Woodley said: "I think we could have had an unmitigated disaster if General Motors had gone into receivership and liquidation. But we've got a major disappointment.
"Magna clearly are not our preferred buyer because their plans for Britain at the moment allow us to be uncertain about the future of both our Luton and Ellesmere Port plants.
"It's secure at the moment for the next four years certainly in both of those plants but time flies and in our industry we require 14 years' security.
"I don't think either of the plants have a very clear long-term future at the moment because the Magna deal identifies a lack of investment and lack of product beyond the new Astra at Ellesmere Port that's just coming off the tracks now and beyond the deal with Renault that sees vans coming off the Luton tracks.
"You've got a general election in Germany. They've obviously been prepared to put politics at the forefront and offer Magna a blank cheque.
"Germany's the largest partner in General Motors Europe. It's got most of the plants and most of the employees so they've got to cut a deal but the deal is far from done and dusted here. If I was sitting in the Antwerp plant I'd be much more worried than my Vauxhall plants at the moment.
"But we've got to get the Government back on board and make it clear to Magna they can't sack our people and expect to pick up our marketplace, the goodwill of a workforce and maybe as much as £500 million from the Government.
"So there are some hard negotiations now to take place."
More videos linked to article at Channel 4 News
Wednesday, 9 September 2009
Gold: the economic safe haven?
Link to the article: Channel 4 News
By Channel 4 News
Despite reports that the UK economy may be heading out of recession, gold passes the $1,000 an ounce mark for only the third time in history.
Gold is an investment that usually does well in uncertain times.
And despite reports that the UK economy may be heading out of recession, gold has passed the $1,000 an ounce mark for only the third time in history.
It peaked yesterday at $1009 per troy ounce, close to the all-time record of $1032 set last March.
But adjusting for inflation, it is a long way behind the highs hit in 1980 when it passed the equivalent of $2200 in today's money.
By Channel 4 News
Despite reports that the UK economy may be heading out of recession, gold passes the $1,000 an ounce mark for only the third time in history.
Gold is an investment that usually does well in uncertain times.
And despite reports that the UK economy may be heading out of recession, gold has passed the $1,000 an ounce mark for only the third time in history.
It peaked yesterday at $1009 per troy ounce, close to the all-time record of $1032 set last March.
But adjusting for inflation, it is a long way behind the highs hit in 1980 when it passed the equivalent of $2200 in today's money.
Monday, 7 September 2009
Spotify secures iPhone music deal
Link to the article: Channel 4 News
Updated on 07 September 2009
Spotify, the popular European digital music service, has secured a deal to launch a mobile offering on Apple's iPhone costing customers £10 a month, it was revealed today.
Spotify, a Swedish firm, said a mobile application was now available for its premium subscribers in the UK, Sweden, Spain, France and Norway on the iPhone, iPod Touch and phones using the Android platform.
The application will allow premium users to access millions of tracks from the service, previously only available via a computer, wherever they go.
Spotify has won plaudits from the music industry, which has been undermined by piracy, for offering a better and smoother alternative to illegal sites. It has more than 6m users in Europe and over 5m tracks available.
Users of the service can either listen to music for free and in exchange for watching adverts, or pay a premium fee of £9.99 a month to avoid the ads.
"This is a hugely significant day in Spotify's short history," said Gustav Sderstrm, director of portable solutions at Spotify. "Since our launch last October, we've worked hard to provide our users with a high quality service that gives them access to whatever music they want, whenever they want it."
Tuesday, 1 September 2009
Incredible bulk: Disney buys Marvel
Link to the article: Channel 4 News
By More4 News
As of today, Mickey Mouse and Captain America, as well as Hannah Montana and Spiderman, are all colleagues.
Disney has taken over another vast company selling lurid childhood fantasy to the world, Marvel.
By More4 News
As of today, Mickey Mouse and Captain America, as well as Hannah Montana and Spiderman, are all colleagues.
Disney has taken over another vast company selling lurid childhood fantasy to the world, Marvel.
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