Are we poised is to see the third leg of the credit crunch crisis?
After the initial credit crunch hit the US and began to spread around the world there was a period when many observers believed concerns had been overdone and the markets and economies around the world would return to "normal". However, we then saw a second leg which impacted upon the worldwide financial sector, stock markets, government budgets and other vital elements of "everyday life". However, there are growing concerns that we could be poised to see the third leg of the credit crunch hit the worldwide economy!
Earlier this week we saw concerns appear regarding the Greek economy, which has struggled due to the downturn, with a massive increase in the Greek government budget deficit. There is also the ongoing situation in Dubai which, despite government claims that it is "under control", still has some way to go before it is totally resolved. As a consequence, there is growing fear in the money markets that more governments around the world will struggle to raise funds needed to see them through the short to medium term, a time when the worldwide economy and local economies should start to turn the corner.
The danger is that if economies are starved of potential financial investment in the short term we could see a sharp U-turn and a further lurch downwards. This could literally push the worldwide economy into a depression, never mind a recession!
Rain stops play in English gardens
With this summer being perhaps the wettest on record, Brits are neglecting their gardens, according to new research.The study by Legal & General showed that 67 per cent of those questioned were not going to be buying anything for the garden this summer.Usually, during the summer months, the garden is a focal point of household spending but after the recent wet weather only ten per cent said they w...Read More
Banks receive 21 million complaints in six years
26/11/2014 Banks have paid out a total of £38.5 billion in fines and compensation over the last 15 years, a joint study by Cass Business School and think tank New City Agenda concludes. Poor standards and mis-selling has lead to public mistrust of British banks, and the report showed that in the six years between 2008 and 2014, banks received a total of 21 million complaints. The fines...Read More
British Airways on the verge of more cost-cutting
British Airways has been quiet for a few weeks now amid suggestions that the company is drawing up yet more plans to cut costs and effectively cut the unions out of any discussions. However, the company has today been warned by the unions that it should "step back from the brink" or risk a new wave of strikes which would have a massive impact on the long-term viability of the operation.
Could swine flu knock the UK economy again?
While many in the UK continue to enjoy a heatwave there are real concerns about the latter end of 2009 and the potential impact that swine flu could have on the UK economy. Despite the fact that swine flu has been taken off the headlines in the UK we are seeing more and more cases reported and confirmed on a daily basis and indeed the UK government has moved from a phase of containment to treatmen...Read More
Smoke and mirrors in the public services sector
Those who have studied the public services sector over the last few years will no doubt have seen the headlines of substantial job cuts and cost savings. However, many will be unaware that a significant number of these "job cuts" have seen individuals moved to different parts of the public services sector or even re-employed in their old positions at a later date. Using a system of smoke and mirro...Read More