More signs of economic recovery, but try convince the workers.
November 2013 Last updated at 17:41 Share this pageEmail Print Share this page
BAE to cut possibly more than 1,000 UK shipyard jobsBAE System's Govan shipyard will not be closed.
BAE Systems is to cut potentially more than 1,000 jobs from three of its UK shipyards at Govan and Scotstoun in Glasgow and at Portsmouth.
The BBC has learned that major job losses at the yards will be announced by the company later this week.
Some of the jobs being lost may be offset by a contract to build the new Type 26 Global Combat Ship.
BAE Systems, however, has yet to announce which of its UK shipyards will be chosen to carry out the work.
BBC Political Editor Nick Robinson said the announcement by BAE Systems is expected on Thursday morning and will be followed later that day by a Commons statement from the defence secretary.
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A well-placed source told me that the government was "acutely conscious of the politics of the Clyde" ahead of next year's Scottish Independence referendum”
End Quote image of Nick Robinson
ECB surprises markets by cutting eurozone interest rates to 0.25%
European Central Bank cuts interest rates by a quarter of a percentage point amid fears over deflation in the currency bloc
theguardian.com, Thursday 7 November 2013 13.26 GMT
Borrowers across the struggling eurozone economies received an unexpected fillip on Thursday when the European Central Bank cut interest rates by a quarter of a percentage point, in a bid to stave off a slide into deflation.
After its monthly policy meeting in Frankfurt, the ECB's governing council announced that it would reduce its key refinancing rate to 0.25%, from 0.5%.
Mario Draghi, the ECB's president, who will explain the bank's decision at his regular press conference later on Thursday, had been expected to leave rates unchanged.
But with inflation running well below the ECB's 2% target, at just 0.7% in October, a growing number of analysts have started to warn that deflation – which can be disastrous for economies carrying a heavy debt burden – is a real threat.
The recent strength of the euro against the dollar, which has tended to weaken since the Federal Reserve mooted the idea of "tapering" its $85bn (£52bn) a month quantitative easing programme, has also raised fears in some euro member-countries about the competitiveness of the zone's exports on world markets.
Britain's trade deficit in goods at widest level in almost a year
Economists say data provide "stark reminder" that Britain's recovery remains unbalanced, with trade in goods likely to drag down overall growth
Britain's goods trade deficit grew to its widest level in almost a year in September, in what analysts said was
Less volatile quarterly data showed that Britain's goods trade deficit increased by £3.8bn to £29.1bn in the three months to September 30 compared with the previous quarter. Exports to countries within the EU increased by 1.8pc to £39.2bn, while exports to outside the EU fell by 8.6pc to £36.5bn. Photo: AP
By Szu Ping Chan
11:36AM GMT 08 Nov 2013
Britain's goods trade deficit grew to its widest level in almost a year in September, in what analysts said was "stark reminder" that the UK recovery remains unbalanced.
The goods trade deficit grew to £9.82bn in September from £9.56bn in August, the Office for National Statistics said on Friday. This was the widest gap since October 2012 and against economist expectations for a gap of £9.2bn.
Including Britain's £6.5bn trade surplus in services, the overall trade deficit widened slightly to £3.27bn.
September's fall was mainly driven by a decline in exports of ships, aircrafts and materials, which fell by 24pc on a month-on-month basis. Goods exports to the European Union decreased by £300m to £12.6bn, while exports outside the EU rose by £100m to £12.5bn.
The only growth in Exports was with the non EU sector.The EU is broke and they have now lowered interest rates to .25% half the rate in the UK.No hope for savers any more in Europe and it will maybe get to the level in Japan where the banks charge no interest at all just a service fee.
Unless they come up with some radical solution like clearing the worlds debt completely then capitalism is doomed.
“The fool doth think he is wise, but the wise man knows himself to be a fool.”
Barratts Shoes enters administration on the same day it appears to be curtains for struggling movie rental chain Blockbuster.
1:36pm UK, Monday 11 November 2013
More than 3,000 jobs are at risks of being cut after high street names Blockbuster and Barratts Shoes announced they had entered administration.
Blockbuster has appointed Moorfields Corporate Recovery as administrator and currently employs around 2,000 people and operates a chain of 264 stores.
It comes a month after owner Gordon Brothers said its plan to turnaround the retailer's fortunes failed amid the move towards online movie rentals and on-demand TV.
Joint administrator Nick O'Reilly said: "Gordon Brothers found the market place had changed quite dramatically.
"A lot of people want to rent online while the price of DVDs on places like Amazon is so cheap why rent for £3 when you can buy for £15?"
Barratts Shoes has gone into administration for the third time in four years, putting more than 1,000 jobs at risk.
Directors at the Bradford-based chain were left with no choice after an investor pulled out of a plan to inject £5m at the end of last week as the company sought to shore up its finances, according to a statement.
Retailers and supermarkets report surge in the theft of high value fresh food – part of £3.4bn loss to crime last year.
Rebecca Smithers, consumer affairs correspondent
theguardian.com, Tuesday 12 November 2013 07.05 GMT
Shoplifting, employee and supplier fraud, organised retail crime and administrative errors cost the UK high street more than £3.4bn last year and lost retailers 1.2% of their sales, according to a new report.
Retailers and supermarkets reported a surge in the theft of high value fresh food – including meat, cheese and fresh coffee – as a result of the economic downturn, according to the 2012-13 Global Retail Theft Barometer.
The report, by Euromonitor International, a consumer market research company, and financed by global security company Checkpoint Systems, said the losses amounted to an average of £124.60 per household.
Shoplifting represented the biggest problem to UK retailers, accounting for 36% of total losses, or £1.224bn. However, theft by employees was also a major concern, accounting for 33% of the overall figure. Administrative and non-crime losses and supplier fraud were estimated at 25% and 6% of the total amount respectively.
In the UK, food theft has increased in the past 12 months, possibly due to huge pressure on family finances. Products such as mature cheddar cheese, fresh meat including gammon joints and fresh coffee were among the most stolen items.
Russell Holland, UK general manager of Checkpoint Systems, said: "Over the last year, retailers have certainly been making great strides in the fight against retail crime. However, times are still tough for many families across the country, hence the increase in theft of high value foodstuff such as fresh meat and cheese.
Really? I don't think I have visited my bank in a year.I mail them bank on line and pay by direct debit.The reason they give is due to the increase in electronic banking and it has to be true.I used to queue in my bank for long times.Now I don't have to.
People like me are the reason for bank layoffs.
“The fool doth think he is wise, but the wise man knows himself to be a fool.”
Autumn high street sales slump 'because real wages are falling'
14 Nov 2013 19:34
October’s retail sales were 0.7% down on September, sparking fears that a slowdown could hit economic growth this quarter
Fall: Shop sales Fall: Shop sales
Cash-strapped Britons took a breather from shopping last month and caused a surprise fall in high street sales.
October’s retail sales were 0.7% down on September, when analysts were expecting flat figures, sparking fears that a slowdown could hit economic growth this quarter.
Economist Jeremy Cook, of currency broker World First, said: “The major factor is clearly the impact of falling real wages.”
Non-food sales fell 1.3%, with textile, clothing and footwear sales down 2.8%. It follows remarks from fashion retailers, including Topshop owner Arcadia, that the warm start to autumn had hit sales of winter clothing.
Supermarket sales fell for the third month, down 0.1%. But department store sales were up 1.3% as an early Eid attracted more Middle Eastern shoppers.
Analyst Howard Archer, of IHS Global Insight, said the drop “indicates consumers are taking at least a temporary breather after spending at a robust rate during the third quarter”.