Ford chief will work for $1 if he takes state aid

Ford’s $2m-a-year chief executive, Alan Mulally, yesterday vowed to work for an annual salary of one dollar if the struggling carmaker has to take government money as part of a $25bn (£16.7bn) bail-out of the US car industry. In a further move to woo congressional support, Mulally pledged to sell Ford’s fleet of corporate jets, [...]

Tesco growth slows to levels not seen since days of last recession in 1993

Tesco has slipped to its worst growth performance since the last recession as shoppers spurn its premium lines, the supermarket said yesterday.

Construction shrinks at fastest pace in 11 years

Britain’s construction sector contracted at the fastest pace in more than a decade during November, as the rate of new houses being built continue to plunge.

Calls grow for steep rate cut as services deteriorate

Calls for another aggressive cut in interest rates by the Bank of England intensified today after a key survey revealed that the UK services sector shrank in November at its fastest pace since the series began in 1996.

Final machine made at JCB factory

The final machine will roll off the production line at a JCB factory in Staffordshire later.

Drugs firm Glaxo to cut 200 jobs

Drugs giant GlaxoSmithKline has announced 200 jobs will be axed at its factory in County Durham.

1,500 FACE LOSING JOBS AT WILKINSON

Discount retailer Wilkinson may shed up to 1,500 jobs next year if it adopts a new stock supply system, the company has confirmed.

Brown pledges Woolworths support

The government is working to ensure that Woolworths stores remain open over the Christmas period, Prime Minister Gordon Brown has said.

Alistair Darling and Gordon Brown must read the riot act at greedy bankers

At last a banker has apologised for the awful mess that reckless City institutions have landed us in.

Gordon Brown will nationalise banks if financial crisis worsens

Downing Street yesterday threatened to nationalise the banks if they fail to kick-start the economy by lending to small firms and families.