World leaders at the G20 summit pledged a $1,100 billion package of measures to tackle the global recession yesterday.
Source: Financial Times
Jaguar Land Rover will receive £800 million from the European Investment Back, underwritten by the Government, and from taxpayer-backed loan guarantee credit, as part of the £2.3 billion car industry rescue plan. Source: Daily Mail
A number of dotcom companies may boycott Phorm’s controversial monitoring software, which analyses browsing habits online to deliver targeted advertising. The Open Rights Group wrote to companies last month calling on them to opt out of Phorm’s technology. Source: The Guardian
Mothercare has announced positive like-for-like UK sales, up by 3.7 per cent in the 11 weeks leading up to 28 March, in its 15th consecutive quarter. Source: The Telegraph
The Co-operative Group’s banking arm has announced a 70 per cent increase in underlying profits. Source: The Independent
The insurers Aviva and Swiss Re will axe thousands of UK jobs as a result of the global downturn. Aviva plans to make around 1,690 job cuts over 2009, while Swiss Re will cut around 10 per cent of its global workforce. Source: The Independent
Stena Line, the ferry operator, claims it is stealing customers from budget airline Easyjet because of its poor customer service, as it saw passenger numbers increase by 10 per cent. Source: The Guardian