Virgin Money Acquires Northern Rock

Virgin Money acquired Northern Rock for a cut price £747m in November 2011. The acquisition has received heavy criticism as the bank was only recently subject to a bail out by the UK taxpayer. Virgin have also been criticised for offering only a narrow range of products to consumers. 

Virgin Money are pledging an end to hidden costs and offer the promise of “free” banking.

Public Sector Strikes over Pension reform in the UK

The 30^th of November saw public sector strikes in the UK over the proposed pension reform in the UK.  An estimated 2 million public sector workers including teachers, nurses and civil servants voiced their concerns over the government proposals and demonstrated throughout the day.

The bitter dispute surrounds the Coalition’s proposal to increase the level of contributions for public sector workers together with an increase in the retirement age. This sparked anger amongst public sector workers who also face the prospect of a wage freeze next year despite rising inflation.

The UK government explain that the proposal is justified in order to manage the funding gap in the Budget deficit but once again it seems like the hard working public sector staff will bear the brunt of previous mistakes by those in power. The trade unions have expressed concern that the additional contributions proposed will exceed the value of pensions paid out on retirement and that this is in fact another stealth tax where the sums do not add up.

In a Bizarre statement to the press, Top Gear presenter Jeremy Clarkson sparked further outrage by claiming that public sector workers involved in the strike should be shot. He was forced to apologise after his astounding comment and explained that this was intended as a joke. The sad news is that at this rate teachers are unlikely to be able to afford to buy a car and so the risk of a boycott of Top Gear is minimal!

Paul Economides wins second title in two months

Boxer Paul “The Spartan” Economides won the British Masters Featherweight title on 3 December 2011. The fight took place at the York Hall arena in Bethnal Green against Gavin Reed. The Spartan delighted his fans with yet another impressive all action display in what was undoubtedly the fight of the night. The 97 – 95 points victory makes it two titles in as many months with Paul Economides winning the Super Bantamweight title back in October.

The Spartan now holds two titles at different weights and is a great prospect for British boxing.