Still no "green shoots of recovery"

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Still no "green shoots of recovery"

confused of hornchurch

12 February 2013

Barclays announces 3,700 job cuts  Barclays currently employs 140,000 staff.
 

Barclays has said it will cut 3,700 jobs following a strategic review.

That includes 1,800 jobs at its investment bank and 1,900 in European retail and business banking.

It comes as the bank reported a plunge in pre-tax profit to £246m in 2012, down from £5.9bn a year ago, after setting aside money for compensating customers mis-sold products.

Barclays boss Antony Jenkins told the BBC: "It will take years before people change their impression of us."

He added: "I'm not daunted by that."
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Re: Still no "green shoots of recovery"

confused of hornchurch

Families will endure 15 more years of squeezed incomes until a return to better living standards


By Gerri Peev

PUBLISHED: 02:07, 13 February 2013  | UPDATED: 02:07, 13 February 2013  


Families must endure 15 years of squeezed incomes until living standards recover to pre-crash levels, a leading think tank has warned.

It means that someone who earned £22,000 a year in 2008 will have to wait until 2023 to get back to a similar standard of living.

Had the downturn not hit, a £22,000 income would have reached around £27,500 by 2023, the Resolution Foundation said.

But to reach this level, incomes would have  to grow by a 3.3 per cent a year, a level of growth not seen since the 60s.

The report Squeezed Britain 2013 reveals that incomes have fallen sharply even for the richest Britons, leading to the biggest decline in income inequality in the last 50 years.


The ten million adults in the low to middle income group have seen spending power decrease by an average £280 a year, according to the report.

The fall in earnings is being put down to a cut in benefits and tax credits and workers having to cut their hours.


Read more: http://www.dailymail.co.uk/news/article-2277876/Families-endure-15-years-squeezed-incomes-return-better-living-standards.html#ixzz2KlL5dihF 
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Re: Still no "green shoots of recovery"

Independent man
When Double Dip Dave got elected he said he would sort it out in 5 years seems like all his cut backs have only made matters worse.
Drop that Drip Double Dip Dave
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Re: Still no "green shoots of recovery"

confused of hornchurch
 Surprise, surprise!


Surprise UK retail sales drop fuels triple-dip recession fears  ONS data shows volume of retail sales fell by 0.6% in January – against economists' expectations of a 0.5% rise
 
Cuts in consumer purchasing power and a bout of arctic weather combined in January to cut high street spending for a fourth month, fanning fears that Britain is teetering on the brink of an unprecedented triple dip recession.

A month that saw administrators called in to HMV, Blockbuster and Jessops was crowned by a 0.6% fall in the volume of retail sales, leaving the underlying trend at its weakest in three years.

The figures from the Office for National Statistics surprised the City, which had anticipated a healthy bounce back from December's disappointing sales on the back of strong surveys and a robust performance by John Lewis, which said on Friday its sales in early February were up 22% on a year earlier.
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Re: Still no "green shoots of recovery"

GAZZER
We are entering a new dark age-never will our children's children enjoy the pensions-job security-home ownership etc.-that was the norm in recent history.

This depression will take 50 years to recover from,if at all-perhaps we should understand that the good days are gone only a third world future awaits the British.
If you try to cure evil with evil-you will add more pain to your fate.
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Re: Still no "green shoots of recovery"

confused of hornchurch

I can't argue with that Gazzer, I think you're spot on.
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Re: Still no "green shoots of recovery"

AngelDelight
In reply to this post by GAZZER
I think the children, when older are really not going to stand for working for peanuts (if they can get a job), not being able to ever afford to buy their own place, but their taxes paying for gold plated pensions. That generation are in my opinion going to change things by voicing their disgust.
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Re: Still no "green shoots of recovery"

GAZZER
Calm down dear-you must understand the equilibrium has been Brocken, the balance of things disrupted, the working class have had the ladder pulled up out of there reach. The aspiring working class toward middle class whom once enjoyed a short age of monitory and fiscal independence and property ownership the march toward class equality has been halted.

 The Elites (old money) are making sure the masses and contenders to their throne will be subjugated- Oh yes indeedy the commoners offspring's have been firmly put in there place.

Unions have been infiltrated-political parties have been infiltrated-the countries population diluted-divide and conquer the oldest strategy in the oligarchs book and we all fell for it.

Shit woman there even shutting our pubs down. Peanuts or starvation will be the future recipe for survival.

 
If you try to cure evil with evil-you will add more pain to your fate.
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Re: Still no "green shoots of recovery"

Independent man
Thats how the elite stay in control by divide and conquer get joe bloggs wound up about someone nicking a few quid in benefits and they forget about Philllp Green and Starbucks defrauding the taxman out of £millions.
Drop that Drip Double Dip Dave
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Re: Still no "green shoots of recovery"

GAZZER
Good grief Indy, although I dislike career benefit spongers (who are mainly foreign)-I am apt to agree with you on you post.
If you try to cure evil with evil-you will add more pain to your fate.
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Re: Still no "green shoots of recovery"

Ho-Hum
In reply to this post by Independent man
Independent  man is right, in essence, those in the know can get away with murder.
Refugees do not have the right to demand but should accept the blessings bestowed upon them gracefully by nations extending the hand of friendship.
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Re: Still no "green shoots of recovery"

GAZZER
Matron came highly recommended a serial killer of repute and she always gets away with it. However she can be murder sometimes.

If you try to cure evil with evil-you will add more pain to your fate.
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Re: Still no "green shoots of recovery"

confused of hornchurch

Not more economic bad news, just when we thought the chancellor had it under control?

18 February 2013 Last updated at 10:28
   
Sterling has continued to weaken against the dollar and the euro on continued worries about the health of the UK economy.

Against the dollar, sterling fell to a seven-month low, and against the euro it was nearing a 15-month low.

The falls came after Bank of England policymaker Martin Weale said that sterling may need to weaken further to bolster the UK economy.

Currency speculators are also betting that sterling will fall, data shows.

Sterling fell 0.5% to $1.543, its lowest since 13 July, 2012. The euro was up 0.3% against sterling, making a euro worth 86.3 pence.

The pound has been weakening this year following some disappointing economic data and worries that the UK may lose is triple-A credit rating.


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Re: Still no "green shoots of recovery"

confused of hornchurch

Another doom-laden outlook.

If our growth prospects deteriorate even further, then without even higher inflation, UK households will default on their mortgages, bankrupting British banks and thereby bankrupting the Government if it stands behind the banks. We have already seen that happen in Ireland and Spain. It could happen here, too.

Banks in this country are doubly exposed, because regulators have forced them to hold vast amounts of UK government debt. Even relatively modest rises in government bond yields, implying some fall in government bond prices, would impose huge losses on UK banks. The Bank of England has suggested that UK banks already need £60bn of extra capital. Taking large losses on UK government bonds could push them over the edge.

Falls in UK government bond prices would also mean huge losses for the Treasury via the QE programme. The original intention to unwind QE gradually as coupons were paid and bonds matured has recently been abandoned — the programme can now be unwound only by actively selling bonds, which would surely trigger a huge yield spike and losses for banks and the government of up to half their bond holdings.

On Wednesday, the Bank of England minutes revealed that the last Monetary Policy Committee meeting voted only by 6-3 against doing even more QE, despite inflation being expected to be above target for years. One factor affecting thinking is surely the consequences of losing the AAA. Perhaps more QE might buy more government bonds. Perhaps they might just buy bank bonds directly. Either way, policymakers are showing signs of desperation.

Following the AAA loss, the ways forward may be bank collapse and deflation, or even more QE and even more inflation. It’s not a happy choice.

Andrew Lilico is the Chairman of Europe Economics
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Re: Still no "green shoots of recovery"

confused of hornchurch

Now the general public are starting to get 'Angry'. Is the tide turning?


Taxman names and shames small firms... while the corporate giants are STILL going unpunished

HM Revenue and Customs' list name both individuals and companies
List contains tax dodgers who have defaulted on more than £25,000

It 'names and shames' a Liverpool hairdresser, a Cheshire wine trader and a Southport club and bar
Public furious that HMRC appears 'too scared' to embarrass big business

By Daniel Martin and Martin Robinson

PUBLISHED: 19:20, 21 February 2013  | UPDATED: 09:00, 22 February 2013  

Revenue chiefs are naming and shaming tax dodging small firms while multinationals avoid paying billions.

Nine ordinary business people, including a hairdresser and a coach operator, were listed by HMRC as part of a scheme to highlight deliberate defaulters.

The idea is that the stigma of appearing on the list, to be updated every three months, will persuade those thinking of avoiding tax to pay up.

List of shame: Nine ordinary business people, including a hairdresser and a coach operator, were named by HMRC today and more will get the same treatment
List of shame: Nine ordinary business people, including a hairdresser and a coach operator, were named by HMRC today and more will get the same treatment

But MPs and tax experts last night criticised the plan for targeting ordinary individuals while doing nothing to uncover tax avoidance among big companies such as Starbucks, Amazon and Google.

Twitter has also been awash with angry members of the public accusing HMRC of being too frightened to target the 'big boys'.

Another tweeter said that big business is just allowed to send vast sums offfshore while the tax man embarrass 'small fry' firms.


That's right, where I come from it's called demanding money with menaces. The government still thinks there is a money tree out here to be picked. The stark truth is most of the working classes have been bled dry, they will have to go after big business now because we're skint and working twice as hard for half as much. We've bailed the banks out and none of us are about to subsidise the big corporations.
The gravy train has hit the buffers.


Read more: http://www.dailymail.co.uk/news/article-2282441/HMRC-names-shames-tax-dodgers-stop-people-defaulting-payments.html#ixzz2Lcu6kSTN 
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Re: Still no "green shoots of recovery"

confused of hornchurch
In reply to this post by confused of hornchurch
Now the general public are starting to get 'Angry'. Is the tide turning?


Taxman names and shames small firms... while the corporate giants are STILL going unpunished

HM Revenue and Customs' list name both individuals and companies
List contains tax dodgers who have defaulted on more than £25,000

It 'names and shames' a Liverpool hairdresser, a Cheshire wine trader and a Southport club and bar
Public furious that HMRC appears 'too scared' to embarrass big business

By Daniel Martin and Martin Robinson

PUBLISHED: 19:20, 21 February 2013  | UPDATED: 09:00, 22 February 2013  

Revenue chiefs are naming and shaming tax dodging small firms while multinationals avoid paying billions.

Nine ordinary business people, including a hairdresser and a coach operator, were listed by HMRC as part of a scheme to highlight deliberate defaulters.

The idea is that the stigma of appearing on the list, to be updated every three months, will persuade those thinking of avoiding tax to pay up.

List of shame: Nine ordinary business people, including a hairdresser and a coach operator, were named by HMRC today and more will get the same treatment
List of shame: Nine ordinary business people, including a hairdresser and a coach operator, were named by HMRC today and more will get the same treatment

But MPs and tax experts last night criticised the plan for targeting ordinary individuals while doing nothing to uncover tax avoidance among big companies such as Starbucks, Amazon and Google.

Twitter has also been awash with angry members of the public accusing HMRC of being too frightened to target the 'big boys'.

Another tweeter said that big business is just allowed to send vast sums offfshore while the tax man embarrass 'small fry' firms.


That's right, where I come from it's called demanding money with menaces. The government still thinks there is a money tree out here to be picked. The stark truth is most of the working classes have been bled dry, they will have to go after big business now because we're skint and working twice as hard for half as much. We've bailed the banks out and none of us are about to subsidise the big corporations.
The gravy train has hit the buffers.


Read more: http://www.dailymail.co.uk/news/article-2282441/HMRC-names-shames-tax-dodgers-stop-people-defaulting-payments.html#ixzz2Lcu6kSTN 
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Re: Still no "green shoots of recovery"

confused of hornchurch

Arts cuts prompt 'shrivelling' theatre industry, report says   English theatre study claims Arts Council cuts mean cancelled shows, fewer new plays, fewer commissions and smaller casts

Charlotte Higgins, chief arts writer
guardian.co.uk, Friday 22 February 2013 12.21


The English theatre scene is "shrivelling", according to new research, with two-thirds of venues cancelling productions, half producing fewer new plays and commissioning fewer writers, and the same proportion obliged to insist playwrights focus on smaller cast sizes.

Sonia Friedman , the successful West End producer, warned of "a short-termism that will damage a multi-billion industry over a generation" – arguing that damage done to theatre as a result of the 30% cut to Arts Council England's budget in 2010 will harm future success in TV, radio and film.

The research, which drew on detailed surveys completed by 26 English theatres, was undertaken by playwright Fin Kennedy and Helen Campbell Pickford, a doctoral candidate at the University of Oxford.
 
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Re: Still no "green shoots of recovery"

bellend
triple A,  the cause of such suffering is lost what about plan B OZZY
If we learn from our mistakes, why aint I a genius, If you educate the masses where's the advantage for the few?

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Re: Still no "green shoots of recovery"

Captain Blogger
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Re: Still no "green shoots of recovery"

confused of hornchurch

Does this mean it's still not getting any better?

George Osborne to delay childcare tax breaks.                                                                      
Worsening public finances mean chancellor will have to reschedule changes that could save some families £1,000
 

Nicholas Watt, chief political correspondent
The Guardian, Saturday 16 March 2013 George Osborne budget
George Osborne is expected to announce in Wednesday's budget that the planned childcare tax break may be put back as late as 2015.
A tax break to ease the costs of childcare, which was at the heart of a new year re launch of the coalition, is to be delayed as worsening public finances leave George Osborne struggling to balance the nation's books.

David Cameron and Nick Clegg are to join forces on Tuesday to launch a series of childcare initiatives which the prime minister described last week as a "very major step forward".

But Osborne is expected to announce in the budget on Wednesday that it will take time, possibly until after the general election in 2015, to add a new tax break of up to £1,000 to existing childcare help.


But will he still be around after the 2015 general election?
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