Trade Union disputes UK. Strike by Royal Mail Staff Interim agreement reached The Postal Executive, yesterday, unanimously endorsed the attached agreement. It is important that we now tell our members that the strength of their support for strike action has brought us to this position. We should also tell our members that is was right to suspend strike action. We would like to thank all of our activists for your hard work and support during this difficult time.
The interim agreement clearly outlines how the full and final agreement will be shaped. At national level it is essential we now focus our efforts on reaching a final agreement that delivers benefits to our members, customers and the company. In line with Royal Mail’s record of misinformation, the company tried last night to position the agreement purely around the achievement of a strike free Christmas. Royal Mail has also accepted that the national ballot and all local ballots remain enacted. Yours sincerely Dave Ward Billy Hayes Martin Collins the workers. Austerity will give Tories an electoral edge. Fed announces bond-buying stimulus to spur economic growth | Business. The Federal Reserve said in a statement it stood ready to take further action if the economic situation deteriorated further. Photograph: Richard Drew/AP Federal Reserve chairman Ben Bernanke pledged to keep injecting money into the US economy until it recovers Thursday as it announced a rolling program to buy $40bn a month in mortgage-backed securities.
The widely anticipated third round of quantitative easing – dubbed QE3 – comes after Fed chairman Ben Bernanke had said he was increasingly concerned about the recovery. Bernanke said the plan was aimed at reviving the jobs market by stimulating the still troubled housing market. "This is a Main Street policy because what we're about here are jobs," he said at a press conference. He said the Fed stood ready to take more action if the situation deteriorated further and that the he would not "rush to tighten policy" even when signs of a stronger recovery emerge.
"It was much more aggressive than we were expecting," he said. Philips Electronics cuts another 2,200 jobs. 11 September 2012Last updated at 04:16 ET Philips is cutting costs after making a loss last year Philips Electronics has said it will shed another 2,200 jobs as it looks to cut additional costs from the business. The Dutch group had already announced an 800m-euro ($1bn; £640m) cost-cutting programme, which has now been increased to 1.1bn euros. The cuts are being made in light of tough economic conditions and high pension costs, the company said.
Last year, Philips cut thousands of jobs as new chief executive Frans van Houten looked to overhaul the business. The company made a loss of £1.3bn euros last year, but has recorded two consecutive quarters of profit since. "The company has identified additional opportunities, among others in the healthcare and lighting sectors, to further decrease inefficiency and complexity," Philips said in a statement.
It added that the cuts would be completed by 2014. Philips said business had slowed noticeably in both China and Europe. 10 Ways to Cut Business Costs: Audit Fixed Assets.