NORTHERN Rock will today announce plans to make a third of its workforce redundant. At least 2,000 staff will be axed over the next three years as the bank changes to conform with European Union rules on state aid.Read
The fall-out from the American banking crisis caused the FTSE 100 Index to plummet more than 2% yesterday. But what was the catalyst to spark the global economic crisis and how will trouble across the pond affect us?Read
FURTHER evidence of the rise of the North East economy emerged yesterday with figures showing 15,600 new businesses were launched in 2007 – the fastest rate of growth in the UK.Read
THE nation’s biggest care home operator Southern Cross continued its rapid expansion yesterday by adding 257 beds to its portfolio through acquisitions.Read
THE Bank of England moved to pump £5bn into frozen money markets yesterday as London’s leading shares tumbled on the latest impact of the credit crunch.Read
THE new owner of collapsed North Tyneside plastics manufacturer Jaycare is to close two of its three factories but has said it will retain most of the 200 staff.Read
SACKED cleaners at Middlesbrough’s Cineworld picketed the multiplex today in protest at losing their jobs, which, they claimed were later filled by migrant workers.Read
AS RESEARCH revealed that more than eight out of 10 Teesside firms were failing to cash in on the Olympic business bonanza, support agencies launched another bid to get them off the starting blocks.Read
LOCAL manufacturers have been left distinctly under-whelmed by last week’s Budget, with three out of four believing they should have benefited from more government assistance.Read
DEMAND FOR shared ownership housing schemes, which were given a Budget boost with the announcement of Government-backed loans, is growing in Teesside.Read
A RECORD year for a Stillington engineering firm, which saw land contracts worth £100m, has been capped by winning the top prize at the last of the North East Business Awards’ regional finals.Read
THE founder of a high-rise, high-level maintenance company has revealed ambitious plans to increase turnover to £2.5m within two years, create six new jobs and establish more UK outlets following recent expansion in the South-east.Read
“ENVIRONMENTAL issues and energy efficiency in particular have risen dramatically up the business agenda for organisations of all sizes,” says Steve Hunter of the Energy Saving Trust advice centre in Billingham.Read
“THE TECHNOLOGY has been proven on a 12.7l turbo diesel engine to save between £200 and £400 a week,” says Derek Foxcroft of Middlesbrough’s Refreshco Ltd, who plans to go into production on his hydrogen fuel cell technology any day now.Read
