MG Rover to slash directors&#39; pension payments by 90%
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MG ROVERâS controversial directorsâ pension trust is to be substantially scaled back as the company nears the final stages of a vital partnership that will give
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MORE than 700 asbestos disease victims face reduced payouts in the immediate future after James Hardie&#39;s compensation fund today applied for provisional liquidation.
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Chinese automaker Shanghai Automotive Industry Corp. (SAIC) was set to control a crucial joint venture with Britain&#39;s struggling manufacturer MG Rover, the Longbridge-based company said Saturday.
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Chinese carmaker SAIC is set to control a crucial joint venture with MG Rover under terms of a cooperation deal expected to win approval from Beijing early next year, MG Rover says.
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Last week&#39;s disclosure by International Business Machines Corp. that it will close its traditional pension plans to new employees and give the new hires only a 401(k) plan is more than
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General Motors Corp., the world&#39;s biggest carmaker, will save 500 million euros ($664 million) annually at its unprofitable European unit after reaching an agreement with unions to cut 11,500 jobs and reorganize.
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By Christopher Hope, Business Correspondent, and Harry Wallop (Filed: 22/11/2004). Phoenix Venture Holdings, the owner of loss-making MG Rover, has sold off the last remaining major piece of land at its Longbridge
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Business & money: Lenders move swiftly to cut home loan rates after the Bank of England cut the price of borrowing
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Ford Motor Co. F.N will present to   its board of directors on Wednesday a massive corporate   restructuring plan that will lower white-collar costs by 30   percent and include cutting jobs and benefits, according to the   online version of The Wall Street Journal.
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The company will cut more than 6 percent of its shrinking work force, as part of a plan to improve sagging financial and operational results.
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The State Compensation Insurance Fund, a state-affiliated insurer that dominates workers&#39; compensation insurance in California, said yesterday that it plans to cut its average insurance rates by 5 percent.
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All nine members of the Bank of England's Monetary Policy Committee voted to cut interest rates by a quarter-point to 5.5 percent in December and even discussed whether slowing growth meant a bigger reduction might be needed.
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US carmaker General Motors says it plans to cut back on production of some large, sport utility vehicles.
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Directors of the UK's top firms have now amassed pensions worth Â£891m, according to a survey by the TUC.
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The directors of the companies that make up the FTSE-100 index of leading firms earned a combined one billion pounds in wages in the last financial year, a survey conducted by The Guardian and published on Wednesday showed.
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SHELL&#39;S new chief executive Jeroen van der Veer is to be handed a beefed-up pay package as part of the planned merger of the firm&#39;s Dutch and British arms.
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MG Rover will unveil pre-tax losses this week of about Â£50m as it struggles to survive in the British car market. The losses are down from Â£95m for the previous year, but sales fell to 144,000 last year, compared