e manufacturing industry mean a record number of companies are freezing salaries, a new survey indicates.Recession is hitting the wages of factory workers in the UK Pay data from the EEF, the manufacturers' organisation, reveals two-thirds of employers suspended pay increases in the three months to June. Workers also saw historically low levels of average pay settlements. The EEF says the survey is clear evidence that the economic downturn is hitting manufacturing hard. The EEF's July Pay Bulletin was based on information from 240 pay settlements covering 55 http://www.mbtshoes4australia.com/ - mbt shoes clearance australia ,405 employees. David Yeandle, the head of employment policy at the EEF, said the figures also showed that manufacturers were trying to manage pay far more flexibly than they had done in previous recessions. Nevertheless, the monthly pay settlement levels for both May and June were both below 0.5%. This means it is likely that average settlement levels in manufacturing will continue to fall in the near future, the EEF says.
Japanese brewing and food groups Kirin and Suntory are considering a merger.、KirinSuntoryIf the merger goes ahead it will create the world\'s fifth largest food group The move would create the world's fifth-largest food group by sales http://www.mbtshoes4australia.com/ - mbt shoes clearance , just behind Kraft Foods and Pepsico http://www.mbtuktoday.co.uk/ - MBT shoes uk . Analysts welcomed the announcement, saying a merged firm would be able to dominate in Japan's fiercely competitive food and drinks market. While Suntory is privately owned, shares in Kirin rose 8.4% following the news. If the two firms agree to merge, the deal will need regulatory approval. If a merger is realised, that would give them the market share to take leadership in pricing and help their soft drinks businesses - a chronic weak spot in a ultra-competitive market, said JP Morgan analyst Naomi Takagi. It's a huge positive if they can do it.
General Electric's earnings fell 47% to $2.9bn (£1.7bn) in the second quarter of 2009 from the same period last year, as the slowdown took its toll.20092947%GE boss Jeff Immelt says the firm is delivering solid results R
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