Cut!

The Guardian says this morning that:

Unions representing steelworkers at Corus have strongly denied reports that they have offered to take a 10% pay cut across the company's UK workforce of 25,000.

Given that the original story, in the Financial Times, quoted a union - rather than a company - source, as saying "Representatives would accept a 10 per cent decrease for everybody, from the bottom to the top of the company", you have to assume there was something in it.