Ambulance talks

LAST-minute talks have averted a threatened strike by paramedics and ambulance workers in the West Midlands.

Unions will now meet health service chiefs in the new year for fresh talks on the pay dispute that it was feared could affect services over Christmas.

The strike threat followed claims that the Department of Health had interfered to try to block a pay deal that had already been agreed with the ambulance service unions in the West Midlands and Shropshire areas.

A spokesman for one of the five unions, Unison, said that "positive" talks had taken place with management and they would try to resolve the dispute through negotiation. Fresh talks will now take place on January 6.

Marconi vote

MARCONI shareholders will today give the green light to a £1bn deal that will see one of the best known names in industry sell most of its assets.

Swedish firm Ericsson will take on the Marconi trademark as well as its expertise in network equipment technology, leaving the remainder of the UK company as a services provider under a new identity of Telent.

A vote will be taken at an extraordinary meeting in London today, with the expected show of approval leading to completion of the sale next month.

Benefits freeze

Rentokil Initial has announced moves to close its final salary pension scheme, which would freeze benefits for current employees.

The plans of the business service group are thought to be the first of its kind by a FTSE 100 company.

Employees will have their guaranteed benefits frozen at current levels, regardless of how long they have worked for Rentokil.

Rate cut hopes

HOPES of a cut in interest rates early next year were ignited today after it emerged that a member of the Bank of England pressed for a reduction this month.

Stephen Nickell broke ranks with colleagues on the Monetary Policy Committee to vote in favour of a quarter-point cut in interest rates to 4.25 per cent.