Rail Chaos Looms as Train Drivers Launch Overtime Ban
Get ready for more rail misery! Train drivers from the Aslef union are slapping down an overtime ban from Monday 7 August to Saturday 12 August. This latest industrial action hits 15 major train operators, including Avanti West Coast, Chiltern Railways, East Midlands Railway, Great Western Railway, Southeastern, and more.
By refusing to work extra hours, drivers threaten to slash train schedules and cause headaches for passengers relying on vital overtime shifts to keep services running smoothly.
Travellers are urged to check live updates before heading out amid mounting frustration over pay, jobs, and working conditions. The row shows no sign of easing, with both the rail industry and passengers caught in the crossfire.
HSBC Backtracks After Slamming UK Government Over China
HSBC’s public affairs chief, Sir Sherard Cowper-Coles, has issued a face-saving apology after branding the UK government “weak” for bowing to US pressure to cut ties with China. His remarks spilled out during a private roundtable but sparked a public backlash.
The banking giant was quick to state these were his personal views and do not reflect HSBC’s or the China British Business Council’s stance. The gaffe spotlights the tightrope companies walk amidst escalating US-China tensions — especially for banks like HSBC who bank big profits in Asia.
UK House Prices Dip Again But Market Shows Grit
British house prices fell for the fourth month running in July, sliding 0.3%, says mortgage lender Halifax. Year on year, prices dropped 2.4%, slightly less than the 2.6% fall in June.
Rising Bank of England interest rates to battle inflation are biting, but the decline remains modest compared to the steep surge in Covid pandemic prices.
Average house prices are still well above pre-pandemic levels, signalling a sturdy housing market despite choppy economic waters.
