IMF believes UK jobless total set to rise
Despite hopes that the UK economy will finally turn around and move into recovery mode in the short to medium term, the International Monetary Fund (IMF) has today poured scorn on hopes that the UK jobless total will soon peak. The IMF believe that unemployment in the UK will continue to rise well into 2010 and indeed the UK is one of the worst performing economies in the world at this moment in time. As a consequence, the time lag between a UK recovery and a worldwide recovery could expand in the short to medium term.
When you consider that yesterday saw a further 800 job losses at Lloyd's bank, with more expected in the New Year, the negative news flow with regard to employment continues. Many people are attempting to airbrush the short to medium-term problems and looking longer term, but the UK economy is being held back by a massive national debt and a bulging budget deficit. Today has also seen the largest rights issue in the history of the UK with a £13.5 billion cash call from Lloyds bank in order to address the various issues the company is facing. Against this background, it is very difficult to be upbeat with regards to the UK economy in the short to medium term.
Are mobile phone charges set to fall?
Ofcom has announced a new investigation into the UK mobile phone market and the ever-growing cost of connecting to different networks and landlines. It seems that with the exception of British Telecom and the 3 network, the whole UK mobile broadband industry would prefer to maintain a free market with regards to the cost of connecting to different networks across the UK. However, Ofcom has very di...Read More
British Airways set to charge for seat reservations
In a move which many believe had been on the way for some time, British Airways has announced plans to charge customers up to £60 to reserve a seat. It is no secret that British Airways has been struggling with regards to the price of oil, reduced business levels and increased costs. Over the last few months we have seen a number of job cuts, staff encouraged to give "free time" to the business a...Read More
Unemployment hits the young in the UK
Official statistics from the UK government show that one in three people aged between 16 and 18 are now out of work as a consequence of the UK recession. Even though the figure of 2.44 million unemployed in the UK has been a hammer blow to the economy, the growing number of youngsters out of work does not bode well for future.
While the rate of unemployment varies significantly arou...
Will Gordon Brown dare to go it alone?
As Mervyn King, Gov of the Bank of England, today clarified the Bank's position regarding future stimulus and rescue packages for the UK economy, it appears as though Gordon Brown could well be on his own. Despite evidence that recent rescue packages and stimulus programs have failed to have any impact on the UK economy, indications from within Downing Street appear to suggest that more and more m...Read More
Dundee City Council say no to Pay-day loans
In an attempt to eliminate the risk of people getting into increased levels of debt over the Christmas period, Dundee City Council have blocked access to pay-day loan websites. The authorities IT department has been instructed to disable access to such websites on council computers. All council buildings, community centres and libraries will be affected by the ban in a bid to reduce the number...Read More