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.
Thursday, 17 September 2009
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
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