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A US regulator on Friday predicted that chief executives and directors of some of the banks that underwent the stress tests could lose their jobs, in another sign of the government's desire to have a say in the running of bailed-out companies.Sheila Bair, chairman of the Federal Deposit Insurance Corporation, said the authorities could replace management and boards at some of the 10 banks that were ordered to add fresh capital after the tests.
A US regulator on Friday predicted that chief executives and directors of some of the banks that underwent the stress tests could lose their jobs, in another sign of the government's desire to have a say in the running of bailed-out companies.
Sheila Bair, chairman of the Federal Deposit Insurance Corporation, said the authorities could replace management and boards at some of the 10 banks that were ordered to add fresh capital after the tests.
Thousands of workers from across the UK are set to take part in a protest march in Birmingham to call on the government to "halt the jobs crisis".The demonstration, organised by the Unite union, is part of a campaign to press ministers to do more to help manufacturers weather the recession. Unite chose to hold the rally in Birmingham as almost one-in-10 people in the West Midlands is now unemployed. Former head of employers' group the CBI, Lord Jones, will be taking part. He will be joined by workers from firms hit by the recession, including steel giant Corus and car companies Vauxhall and Jaguar Land Rover, which has plants in Gaydon in Warwickshire, Castle Bromwich, Coventry and Solihull in the West Midlands and Halewood in Merseyside.
Thousands of workers from across the UK are set to take part in a protest march in Birmingham to call on the government to "halt the jobs crisis".
The demonstration, organised by the Unite union, is part of a campaign to press ministers to do more to help manufacturers weather the recession.
Unite chose to hold the rally in Birmingham as almost one-in-10 people in the West Midlands is now unemployed.
Former head of employers' group the CBI, Lord Jones, will be taking part.
He will be joined by workers from firms hit by the recession, including steel giant Corus and car companies Vauxhall and Jaguar Land Rover, which has plants in Gaydon in Warwickshire, Castle Bromwich, Coventry and Solihull in the West Midlands and Halewood in Merseyside.
Fiat auto workers fearing factory shutdowns rallied on Saturday in Turin near the company's headquarters. Thousands of workers marched from the Mirafiori factory in the northern Italian city to near the headquarters, where union leaders gave speeches. Among the marchers were many who came from Fiat assembly lines in southern Italy. Fiat is making a turnaround but many workers fear that the Italian automaker's deal with Chrysler and its efforts to make an accord involving Opel could cost them jobs.
Thousands of workers marched from the Mirafiori factory in the northern Italian city to near the headquarters, where union leaders gave speeches.
Among the marchers were many who came from Fiat assembly lines in southern Italy.
Fiat is making a turnaround but many workers fear that the Italian automaker's deal with Chrysler and its efforts to make an accord involving Opel could cost them jobs.
Police in Guatemala have arrested a Twitter user and confiscated his computer for "inciting financial panic" after he urged people to remove funds from a state-owned bank. Jean Anleu Fernandez, 37, was handcuffed, fingerprinted and jailed for posting the 96-character message on the micro-blogging site earlier this week. It is thought to be the first such case in central America.
Jean Anleu Fernandez, 37, was handcuffed, fingerprinted and jailed for posting the 96-character message on the micro-blogging site earlier this week. It is thought to be the first such case in central America.
German economic policy is "bankrupt", economists have said. The declaration was made as it emerged that Europe's biggest economy has now suffered a worse "lost decade" than Japan and is deeper in recession than any other major economy. On a day of dismal news for the European economy, official figures also showed that Italy, Austria, Spain and the Netherlands are facing their biggest combined slump in post-war history, sparking warnings about the potential for social unrest throughout Europe.
The declaration was made as it emerged that Europe's biggest economy has now suffered a worse "lost decade" than Japan and is deeper in recession than any other major economy.
On a day of dismal news for the European economy, official figures also showed that Italy, Austria, Spain and the Netherlands are facing their biggest combined slump in post-war history, sparking warnings about the potential for social unrest throughout Europe.
[Torygraph Alert]
Mats Melbin had already let 25 employees go from Örnalp Unozon in January when he learned that an additional 35 employees would likely have to lose their jobs in order to cut costs. The combined cuts would have cut the total number of employees at Örnalp Unozon in half.
The combined cuts would have cut the total number of employees at Örnalp Unozon in half.
But Melbin had had enough after the first round of job cuts, and opted instead to tender his own resignation, reports the Örnsköldsviks Allehanda newspaper. "He advocated for a reduction in employees' working hours instead of giving them notice. He refused to fire any more people and carry out the decision of the parent company Vinovo," said the union steward to the newspaper
"He advocated for a reduction in employees' working hours instead of giving them notice. He refused to fire any more people and carry out the decision of the parent company Vinovo," said the union steward to the newspaper
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