Day: November 9, 2012

An end to bank repossessions?

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Spain is at a tipping point. No, not the Catalan elections, nor the abortive general strike (supposed to be soon but everyone is ignoring it). I’m talking about the desahucios, the forced evictions of ex-home owners by the banks. Currently, if you miss just two mortgage repayments, the banks will start repossession actions. Within just a couple of months, the baliffs turn up and turf you out. The internet is full of stories of people Continue reading An end to bank repossessions?→

Iberia fires 4,500 people the same day as it tries to buy Vueling

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IAG, the owners of Iberia and British Airways, have announced that in order to guarantee the survival of Iberia they will have to fire 4,500 people, or about a fourth of its workforce. The announcement comes a day after IAG announced a 113 million euro bid for Vueling, the low cost Spanish airline. Iberia will cut its capacity by 15%, after IAG posted a loss of 39 million euros in the first nine months of Continue reading Iberia fires 4,500 people the same day as it tries to buy Vueling→