Showing results for tags 'troubled'.
Npower, one of Britain's biggest energy suppliers, will outline plans this week to axe thousands of jobs as its German owner attempts to revive the company's weak financial performance. Sky News has learned that Npower will tell staff in the coming days that approximately 2,500 roles at the company and its partners are to be axed. Sources said the proposals were still being finalised, with some of Npower's directly employed workforce of 7,500 at risk and the remainder of the cuts taking place at internal suppliers elsewhere in the RWE group and at outsourcing partners. Includ
Shares in crisis-ridden Spanish bank Bankia plunged again as details of a public rescue exposed the extent of its problems. Shares fell 25pc to 41 euro cents in Madrid after the bank and its parent company BFA said it had received almost €18bn (£15bn) to bolster its balance sheet. The bailout was funded by a eurozone rescue loan after the region’s members were forced to step in when it became clear Spain alone could not deal with the crisis facing its lenders. The rescue will dilute the value of Bankia’s existing shares, involving the conversion of €10.7bn of “contingent convertible bond