finance
Articles about work, policy and workers' struggles in the service sector, as distinct from retail, energy and communications.
Money and Crisis: Marx as Correspondent of the New York Daily Tribune, 1856-57 - Sergio Bologna
Sergio Bologna on Marx's writings on capitalism and crisis in the world recession of 1856-58.
Editorial Note: This article was written in 1973. It was a key article in developing the theoretical base of the newly emerging politics of working-class autonomy. This translation is taken from a forthcoming volume to be published by Red Notes: Selected Writings of Sergio Bologna. For further details, write to Red Notes, BP15, 2a St Paul's Road, London N1.
Sticky fingers: KPMG and the accountancy oligopoly
Following their involvement in the bankruptcy of car parts manufacturer Visteon, John Barker examines KPMG and the murky world of the "big four" accountancy firms.
Not-so-fat cats: How the rich got thin
I came across an interesting Daily Mail article today (yes it does happen occasionally), which says that fat women are unfairly excluded from top jobs. Now the idea that sexism exists in the workplace, particularly at higher levels, is a bit of a no-brainer, but it got me thinking...
In amongst the statistics from the survey used for this piece came a couple of interesting notes:
Quote:
Up to 61 per cent of top male bosses were found to be overweight, which is higher than the U.S. average of 41 per cent among similarly aged men.
General strike hits France
As the recession begins to bite in France, transport, education and other services are brought to a halt by a national strike demanding action on unemployment and the rising cost of living.
Bloomberg business news reported that France’s rail network, airports and public schools were disrupted today as the country’s eight biggest labor unions called for a one-day general strike.
800,000 bank workers on strike in India
More than 800,000 bank employees from 50,000 branches across India started a two-day strike Wednesday to oppose privatisation, merger and acquisition of state-owned banks.
Reports from Maharashtra, Karnataka, Tamil Nadu, West Bengal, Orissa and Jammu and Kashmir said the strike was total.
Nationwide general strike in India
The nationwide general strike in India has affected West Bengal, Kerala and Tripura almost completely and other States partially with industrial establishments remaining closed across the country and the functioning of the public sector banks was hit at most places.
“The strike was spontaneous with eight crore people participating in it. It is an expression of deep indignation of the masses against the pernicious economic and labour policies of the United Progressive Alliance government,” Gurudas Dasgupta, general secretary of the All-India Trade Union Congress, told reporters.
Tel Aviv Stock Exchange: union overtime ban forces trade to end three hours earlier
Following a declaration on Thursday (March 6th), the Tel Aviv Stock Exchange workers` union has declared an overtime ban. This has resulted in management closing down trading three hours early for two days straight.
The ban took effect on Sunday (March 9th), and has been maintained on Monday (March 10th) as well. This step is a direct response to current conditions, which preclude overtime pay from counting into workers` pension plans.
Further walkouts by bank workers in Greece
Bank workers are on strike for the second time in two months as part of the continuing campaign against pension reform.
The strike has disrupted service at the country's central bank, and has brought chaos to electronic trading systems, as well as stock and bond trading. Thousands of workers have been on strike since Monday, and it was decided on Tuesday to continue the action.
Tel Aviv Stock Exchange employees set to strike on Feb 28th (CANCELLED)
Tel Aviv Stock Exchange workers are set to strike at February 28th. This action was declared about two weeks ago (Feb 5th), and is a response to TASE management's refusal to meet union demands.
These include increasing wages by 4.5% and adding workers hired through HR firms to the group pay agreement. Instead, management is only willing to increase wages to its direct employees, with a 0.5% blanket increase as well as an additional 3% to be rewarded selectively according to individual performance.
Private Equity: a vicious new breed?
Rob Ray looks at the recent manoeuvrings of Private Equity and asks what relevance its growth may have
In scenes reminiscent of the 80s pre-stock market crisis, a major row has blown up over the attempted Private Equity takeovers of high-street giants Sainsbury’s and Boots.
