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News headlines at 16:36

Banking giant set to axe 500 jobs
Banking giant HSBC is to axe more than 500 jobs across the country, union leaders were told.

Aston Martin axes 600 jobs
Luxury car maker Aston Martin is planning to axe 600 full-time and temporary jobs because of the the downturn in the world economy, the firm has announced.

Three lose jobs over Baby P tragedy
Three senior figures from Haringey Council have lost their jobs over the Baby P tragedy.

Peer admits texting before crash
Muslim peer Lord Ahmed has admitted sending and receiving text messages while driving on a motorway just before he was involved in a crash in which a man died.

Straw 'surprised' at Green raid
Justice Secretary Jack Straw has appeared to indicate that ministers had been "surprised" by the nature of the raids on Tory frontbencher Damian Green's homes and offices.

Bank to ease repossessions threat
Royal Bank of Scotland has announced that it will give struggling homeowners at least six months before launching repossession action.

Mortgage lending plunges nearly 70%
Mortgage lending collapsed during October, diving by nearly 70% to reach the second lowest figure on record, the Bank of England said.

Greenhouse gases 'must be cut'
The UK must cut its greenhouse gas emissions by at least 34% by 2020, the committee set up to advise the Government on climate change has recommended.

Meeting saves workers from blast
Workers at a rubber factory hit by an explosion had a lucky escape as they were at a meeting in another part of the building.

Community service vests plan begins
High visibility vests for criminals on community service are being introduced.