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!
Vodafone could be the next corporate entity to leave the UK
The UK government is this evening under pressure with news that Vodafone, the world's largest mobile phone company, is considering leaving the UK and setting up a new head office overseas. The company has been in talks with the UK government for some time with regards to foreign income and how this is addressed with regards to UK taxation. Directors of Vodafone have expressed their frustration at...Read More
Manufacturing Jobs At Risk As Sector Turns Down
In what many are seeing as another nail in the coffin of the UK economy it has been revealed that manufacturing growth came to a halt after a steady three year recovery in the sector. While not wholly unexpected, the surprisingly sharp deterioration in trade was a shock to many as was the news that a whole host of manufacturing jobs are now at serious risk. It seems that the manufacturing indus...Read More
Black Friday comes to the UK
27/11/2014 Tomorrow, UK retailers will be slashing their prices by up to 70% as thousands of shoppers are expected to descend on the UKs high street. The American shopping day, Black Friday, has officially come to England as stores including Asda, Tesco, John Lewis and Sainsburys will all offer one day discounts to entice shoppers in the run up to Christmas. These offers are usually on elec...Read More
UK taxpayers take on indebted nursing home chain
British taxpayers will soon take indirect charge of Four Seasons Healthcare which is one of the U.K.'s largest nursing home chains. The company has run into serious financial difficulties and its main lender, the Royal Bank of Scotland, has effectively been forced to take a debt for equity swap and reduce the company's £1.55 billion debt mountain by 50%. In exchange Royal Bank of Scotland will ow...Read More
Google takes on the property sector
While Google has many fingers in many pies, the announcement that the company is looking towards a possible property portal in the future has caused some concern within the UK property market. Indeed yesterday we saw the shares of Rightmove, the U.K.'s leading estate agent, fall by over 10% on concerns that the Google operation could reduce Rightmove's significant market share in the UK. Even t...Read More