Top Stories:
BBC – Israel has agreed “on the principles” of a ceasefire proposal, raising hopes of an end to its conflict with Palestinian militants in Gaza. “The challenge now is to get the details to match the principles,” Israeli spokesman Mark Regev said. The Palestinian militant group Hamas said there were “positive signs but no agreement yet”. The development came as Israel halted military operations in Gaza for three hours to aid humanitarian efforts.
Evening Standard – THE Government may resort to printing extra money if interest rates keep falling. It is being considered as a desperate measure if base rates fall so far that they cease to work as an economic lever. Base rates are set to plunge tomorrow to the lowest level since the Bank of England was founded in 1694, with another big cut of at least half a point to 1.5 per cent or even lower. Chancellor Alistair Darling and Bank of England governor Mervyn King are considering whether to embark on a new policy of expanding the money supply, or quantitative easing, sources today told the Evening Standard. “We are looking at the issues,” said a senior Treasury source. “No decisions have been taken.”
Business:
Sky – M&S boss Stuart Rose has told Sky News the company is “just being sensible” in axing 1,200 jobs and closing 27 stores. The retail giant has announced its worst sales figures for nearly a decade. It responded by saying 450 positions would go from its head office with other job losses coming from the closure of many of its Simply Food outlets. “We are a business that’s reflecting what’s happening outside,” Sir Stuart said. “We are just being sensible. “We are a strong business and we are making sure we stay strong in this climate.” The chain’s UK like-for-like sales tumbled 7.1% in the 13 weeks to December 27 – its biggest sales collapse since July-September 1999.
Guardian – America’s largest aluminium maker, Alcoa, is to cut 15,200 jobs as it struggles to cope with a slowing global economy and sagging prices for metal. The Pittsburgh-based company last night announced that it was reducing its smelting capacity by 18% in a wide-ranging downsizing intended to save $450m (£300m) annually which will involve one-off costs of between $900m and $950m. Its decision is likely to sound alarm bells throughout heavy industry. Alcoa is widely considered a barometer of the fortunes of industrial and raw materials companies. Alcoa’s global workforce will fall by 13,500 people, a reduction of 13%. The company will also shed 1,700 contractor positions and will impose a freeze on salaries and hiring.
Also In The News:
Times – Andrew Strauss is standing by for the third time in his career to lead England on a full-time basis after reports this morning that Kevin Pietersen has become the first casualty of the rift with Peter Moores, the head coach. Sky Sports are saying that the captain has resigned – only five months after his appointment – with opinion turning against him after one of the most bizarre weeks in English cricket. And reports suggest that Moores has also left his position as coach, with his assistant Andy Flower likely to be offered the role on an interim basis ahead of England’s tour of the West Indies.
Telegraph – The popularity of the BBC iPlayer has led to renewed concerns that the internet could grind to a halt due to growing demand for online TV services. December 2008 saw a record 41 million requests to view BBC programmes via iPlayer, the biggest month since its launch in December 2007, according to figures released by the corporation. This compared with just over 35 million requests in the previous month. The total number of requests for the year now stands at 271 million, from Christmas Day 2007 to Christmas Day 2008. Jana Bennett, Director BBC Vision, said: “This was an excellent Christmas for BBC Vision as audiences fully embraced on demand alongside their traditional viewing.
Links to more news stories, from the UK and around the world, and email subscription details for these summaries at WhitDawg.com
Blog Networking ?
WhitDawg.com recommends Alpha Inventions – ‘Read blogs updated in real time.’
Tags: News
