100,000 British companies in financial trouble
A report by Begbies Traynor claims that upwards of 100,000 British companies are in serious financial trouble with over £58 billion of debt between them. There are also 50,000 other companies likely to be hit by UK government cutbacks which will make the situation even worse and potentially tip tens of thousands more companies over the edge. There is no doubt that beneath the surface there are many companies struggling to survive and any lurch downwards by the UK economy could have a catastrophic impact on the UK business arena.
The report by Begbies Traynor is a major blow to the UK financial arena although thankfully UK banks have grouped together to create a £1.5 billion rescue fund for small to medium-sized businesses. Whether this is too little too late remains to be seen but there is no doubt that UK companies do need increased liquidity and they need it quickly!
Inflation in the UK continues to remain stubbornly high, unemployment in the UK is creeping ever higher and the economy is under major pressure. The higher unemployment rises the more pressure this places upon the welfare state and ultimately we could see many of the budget cuts introduced by the government negated by a massive increase in benefit payments.
Is the UK recession over as unemployment starts to slow?
As the rate of unemployment in the UK begins to slow there is a feeling that maybe the recession is over and the UK economy may well be returning back to boom times. This comes at a time when many analysts are now forecasting a more difficult year in 2010 than 2009 with the suggestion that a liquidity squeeze in the consumer, business and property markets will have a dramatic effect.
UK unions set for 1200 job losses at Vauxhall
Despite the fact that we covered this story earlier, regarding a face-to-face meeting between UK unions and Magna, the company which is set to acquire GM Europe, it would appear that Magna has already made up its mind regarding job cuts in the UK. Rumours circulating this evening suggest that up to 1200 jobs could be lost at the UK Vauxhall operation which would reduce the UK carmaker's workforce...Read More
Is David Cameron losing the support of the UK electorate?
Over the last few weeks it has become apparent that more and more questions are being asked of David Cameron and his relatively young Conservative party cabinet. At a time when Gordon Brown was quite literally on his knees, handing what looked like a general election win to the Conservative party, David Cameron has failed to make as much of this situation as possible and indeed today we stand on t...Read More
Could You Move Overseas?
As the cost of living in the UK moves yet higher again there are more and more people seriously looking at emigrating. The number of UK citizens looking to pack up move out has never been great, but is life in foreign lands as rosy as some may have you believe?
If it is purely a cost of living aspect which might push you to look overseas there is every chance that you will find lif...
Consumers expect more rate rises
The majority of UK consumers expect interest rates to rise further over the coming year according to new research.Some 80 per cent of people questioned by Lloyds TSB Corporate Markets predicted higher interest rates this time next year.Earlier this month the Bank of England raised interest rates to 5.5 per cent, while inflation in April was shown to have subsided to 2.8 per cent in figures release...Read More