All the day’s economic and financial news, including the Bank of England’s latest interest rate decision at noon * The agenda: UK interest rate decision today * No hike expected, but rates could rise in May * European markets are down in early trading * 11am: FTSE 100 down 60 points, or 0.9% 11.13am GMT NEWSFLASH: ANOTHER 101 CARILLION WORKERS HAVE JUST LOST THEIR JOBS, FOLLOWING THE COMPANY’S COLLAPSE LAST MONTH. We have continued to review Carillion’s contracts, as well as core divisions of the business, and I can confirm that we have safeguarded a further 1,221 jobs. These roles are connected to the delivery of both public and private contracts and cover services for a city council, as well as a range of facilities management services. This means so far, we have been able to save more than 2,000 jobs. “Regrettably, we are also announcing that 101 roles have been made redundant. These are a mix of back-office functions and engineering support roles that new suppliers no longer require. Some good Carillion news...the official receiver has said another 1221 jobs have been saved, although a further 101 will be lost. Totals now:- Saved: 2240 Lost: 930 UK workforce was approx. 19,500, so 16,330 still uncertain. 11.12am GMT GREECE’S PUBLIC DEBT MANAGEMENT AGENCY (PDMA) HAS DECIDED TO PRESS AHEAD TODAY WITH THE SALE OF A NEW SEVEN-YEAR BOND. The auction, Greece’s boldest foray yet onto international markets, had been put on ice by this week’s market turbulence, but is now back on! The government hopes to bring in at least €3bn from the markets – a significant addition to the €6.5bn cash buffer it has already built up to cover debt repayments when its third EU-IMF sponsored bailout programme ends. The seven-year euro benchmark had been postponed on account of market volatility with the sell off Monday. Now that markets have calmed down, the PDMA had decided to go ahead with the issue. Continue reading...
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