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.
London shoppers in high street stay-away
Annual growth in London's retail sales suffered during April, the latest figures have suggested.A new survey says that last month shoppers spent 4.5 per cent more in central London compared to a year earlier.But the London Retail Consortium (LRC), which conducted the research, notes that in 2006 April's retail figures in the capital were up 11.9 per cent on the corresponding month a year previousl...Read More
Independent Scotland may face everyday price increases
12/09/2014 If Scotland votes yes in the upcoming independence referendum many business have advised that they may have to increase prices of goods and services in Scotland. The phone networks BT, EE, O2, TalkTalk and Vodafone are in talks about a joint statement which would refer to "the inevitability of cost increases" for operators . The shops John Lewis, Waitrose and Asda have also sa...Read More
British Airways and Unite in secret talks
The British Airways management and the Unite union are this evening in secret last-ditch talks to try and cut short the ongoing cabin crew strike. The situation has reached critical point with the company stretched to the financial limit and the union seriously concerned about the future of many of their members. While earlier talks were inadvertently disrupted by protesters it seems that both par...Read More
The philosophy behind boom and bust
Over the last few months there has been much mention of the economic cycle, the so-called boom and bust scenario, but does it actually exist?
Statistics show that we have experienced regular boom and bust economic cycles since time began and despite the attempts of many political parties and political leaders, this is a human issue which will never go away. In the good times everybo...
Lord Mandelson attacks the chairman of Starbucks
In a sign that the UK government is desperate to support the UK economy on the worldwide stage, Lord Mandelson has launched a vicious attack on Howard Schultz who is the chairman of Starbucks. Apparently Mr Schultz was critical of the UK economy on a CNBC interview on Tuesday evening suggesting it was caught "in a spiral" with "very, very poor" consumer confidence.
While this assess...