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The workers of the UK's mailing service, Royal Mail have secured a new agreement on the terms of their employment and pay hike in the coming years.

Under the agreement, Royal Mail workers will receive three-year pay increase worth 9 per cent and also have employment protections under a 'landmark' agreement. The deal between the Communication Workers Union and the mailing service, which was recently privatised, will cover a total of 130,000 employees and will avoid strikes.

Bank of England Governor, Mark Carney has dismissed suggestions that the advanced economies are facing stagnation.

Mr Carney dismissed a theory put forward by former US Treasury Secretary Larry Summers that advanced countries are facing an innovation barrier that would severely restrict their ability to grow in the coming future. Mr Carney pointed out that flexible labour markets and openness to global trade and investment flows would allow the UK to record strong growth in the coming months.

A glitch in the signalling system of Delhi Metro left thousands of commuters stranded on Monday morning.

The Delhi Metro Rail Corporation (DMRC) has confirmed that the busy Blue Line, between Dwarka and Noida City Centre, was affected due to a glitch in the signalling system that occurred at around 8 A. M. on Monday because of damage or theft of signalling cable.

The Blue Line, which connects Dwarka to Noida City Centre and Vaishali, carries as many as 8 lakh passengers per day.

Madrid, Dec 10 : Some 100 Spanish companies plan to create more than 32,000 direct job opportunities next year thanks to the improvement of Spain's economic situation, according to media reports.

Thousands of indirect jobs will also be created, Xinhua cited report from the economic newspaper Expansion.

Spain is suffering from high unemployment with over 4.8 million people unemployed in November, according to the government, while around 50 percent of the youth are without a job.

Lack of transparency and mismanagement of Hirco Plc by the Hiranandani family has hurt the interests of investors, the UK-based investment firm's board members have alleged.

John Chapman, chairman & non-executive director of Hirco, has alleged that they haven't been given interest, dividend and share of profits they are entitled to.

The Cabinet of the Congress-led UPA government on Monday agreed to keep the reserve/base price of 2G telecom spectrum for the upcoming auction lower than the previous auction.

On November 22, Finance Minister P. Chidambaram-headed Empowered Group of Ministers (EGoM) on telecom had recommended a cut of 25.8 per cent in the reserve price for one MHz of pan-Indian spectrum in the 1,800-MHz band to Rs 1,764.79 crore. The Cabinet yesterday gave its nod to the recommendation.