Manufacturing falls at fastest rate since financial crisis – CBI
The latest survey by the Confederation of British Industry paints a grim picture for the last three months, but the sector is hopeful of a recovery.
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Bad news for Tories: economic growth forecast to slow to just 1%, weakest since the financial crisis a decade ago
The stark warning comes as Boris Johnson’s election slogan that he will get Brexit done by January is being rounded on as a misleading slogan as his plans will lead to years of Brexit negotiations and uncertainty.
620,000 manufacturing jobs have been lost since financial crisis
“This has not happened by chance. There are thousands of jobs that could be created in sustainable energy and renewables, but this government have failed to invest and let our contracts go overseas.”
‘Weakest since the global financial crisis’ – Brexit gloom laid bare in ‘terrible’ manufacturing report
UK manufacturers are expecting the steepest decline in orders for a decade over the next three months, as Brexit uncertainty and global growth worries take their toll, according to a report. A survey by the CBI business group found that manufacturers are also planning to invest at the lowest rate ...
UK services sector ‘having worst year since financial crisis’
New stats for August suggest the biggest UK sector for the economy is flatlining, making a recession more likely.
Financial services optimism falls at fastest pace since financial crisis
Sentiment and volumes are deteriorating sharply in the financial services sector, with various indicators at their lowest since the Financial Crisis of 2008, according to the latest CBI/PwC Financial Services Survey. The quarterly survey of 84 firms found that optimism about the overall business situation in the financial services sector ...
Debt-management experts warn of “same conditions” to global financial crisis
Debt-management experts have sent out a warning citing "dangerous debt trends" currently plaguing British economy which resemble the conditions during the global financial crisis. With insolvency rates rising for the first time since 2008, Bell & Company are warning of the reasons behind this worrying trend and how to avoid ...
Regulators Need ‘Cultural Change’ to Avoid us ‘Sleepwalking into the Next Financial Crisis’
Regulators need to undergo a cultural change if we are to avoid sleepwalking into the next financial crisis, a new report has found. The study by Cass Business School for New City Agenda revealed that the Prudential Regulation Authority (PRA) and Bank of England need to go much further to ...
Post-Brexit business optimism at lowest level since 2009 financial crisis
It seems that the business community is not feeling to positive about the future of the UK economy post-Brexit. The first quarterly survey, since the nation decided to leave the EU, indicates that business optimism in the financial services industry sector is very low. Over half of financial companies, who ...
The Next Financial Crisis will be caused by Central Bankers Not Investment Bankers
By Ben Ramanauskas On September 15th 2008, the global investment bank Lehman Brothers, filed for bankruptcy. It was- and still remains- the largest bankruptcy filing in the history of the United States and precipitated a global financial crisis that has had a devastating impact on the world economy. The conduct ...
Extinction Rebellion targets financial industry over role in funding climate and ecological crisis
Extinction Rebellion protesters targeted the financial industry today in a bid to unveil the “truth” about their roles in funding the climate and ecological crisis. At least seven people glued themselves to the front entrance to the London Stock Exchange this morning and five others halted a DLR train at ...
Polar Capital Global Financials Trust – New lease of life
As we approach the seventh anniversary of Polar Capital Global Financials Trust (PCFT)’s launch, its directors are proposing that the company continues beyond its planned wind-up date. A decade after the financial crisis, the sector, and banks in particular, remain out of favour. The problem is compounded for UK-based investors ...
Veterans’ mental health charity stops taking new referrals due to funding crisis
Combat Stress said its income has fallen from £16m to £10m in this financial year partly due to a cut in its NHS funding support.
Labour pledges to ‘end NHS crisis’ with £26bn real-terms rescue plan
The Labour Party is promising to spend £6 billion a year more than the Conservatives on the National Health Service.
Polar Capital Global Financials Trust – Banks too cheap to ignore?
US interest rate cuts and a slowing global economy have overshadowed the financials sector and banks in particular so far this year. With banks trading close to multi-year lows, Polar Capital Global Financial (PCFT)’s managers have been adding to positions in their favoured stocks... Read more The managers believe that ...
Four-year-old among thousands of children caught with weapons at school as crisis escalates
Police and support services cuts blamed as over 2,000 people were found to have weapons including swords, a machete and a zombie knife.
Capitalism is in crisis and “people are pissed off”, Tory MP warns
The comments didn't go down well with Tory activists, who accused him of sounding like a Labour MP.
10 years on from the financial crash workers suffer as bankers thrive
Bankers have seen their pay increase by 9.3 per cent since 2009 as average wages fall by 3.1 per cent, new figures show. In the ten years since the financial crash the typical worker has been left nearly £1,000 worse off a year in real terms, the Trades Union Congress ...
Top 5 Financial Markets Movies
Financial markets are dynamic, complex and exciting, and it didn’t take Hollywood too long to seize the opportunity to visually document this bold industry. There are plenty of movies based on the financial markets – and for a good reason! When you add a great script with a Hollywood twist, ...
Three quarters of Brits are worried about their current financial situation
Three quarters of Brits are worried about their current financial situation, a study has found. Researchers found a large percentage of the nation fear they don't have enough money to see them through a sudden crisis such as a large, unexpected bill. Others are concerned they would face almost immediate ...
Nine years on from the start of the credit crunch, could blockchain prevent a future crisis?
By Stewie Zhu, Founder and CEO of Distributed Credit Chain On this day in 2007 when the credit crunch started, BNP Paribas became the first major bank to freeze three of its funds. In the words of Adam Applegarth, who was then chief executive of Northern Rock – one of ...
Home Office in fresh crisis after telling 7,000 foreign students to leave UK in error
The Home Office has been engulfed in a fresh crisis after accusations emerged that it told 7,000 foreign students to leave the UK in error. In Sajid Javid's first day in office new revelations have been leaked of a shocking blunder that could have left students homeless and detained. According ...
Brexit job crisis: Exodus or exaggeration?
Speculation that a Brexit financial services job crisis could be in our midst have been downplayed after HSBC became the latest bank to change its warning of an exodus. The Bank of England this week released a warning that up to 75,000 jobs could be lost in financial services following Britain's departure ...
Retirees in Britain are financially secure, but will any of it benefit the younger generation?
British pensioners are now more financially secure than they ever have been, following the post-election deal between the DUP and Conservative Party, guaranteeing the triple lock pension and winter fuel allowance. More significant is the older generation’s ‘wealth mountain’—the property assets owned by those higher up the housing ladder. Unfortunately ...
NHS crisis – Wheelchair-bound pensioner with cancer no longer qualifies for free hospital transport
A wheelchair-bound pensioner with cancer faces paying thousands on taxis for hospital appointments after new NHS rules said she was 'independent'. Widow Jennifer Summers, 72, has been in a chair since polio struck aged four and free specialist transport to and from hospital after her husband died five years ago. ...
Inequality and housing crisis are no accident – they are a direct consequence of Government policy
By Paul de Hoest, Green Party Candidate for South West Hertfordshire Inequality has widened, young people are priced out of the housing market and Government debt keeps going up. The only answer the Tories have is that we need more of the austerity medicine which means: less welfare, less spending ...
Hardest hit schools facing financial cliff edge as £1 billion set aside for grammars
Britain's hardest hit schools are facing a financial cliff edge despite the Prime Minister being able to find £1 billion for her pet grammar schools scheme. The government’s ‘flawed’ new funding formula will see the hardest hit schools facing a “financial cliff edge” in 2020, according to a new study. A ...
Health, Wealth, Happiness: America in crisis
Of all the indicators used to track the well-being of a nation it seems perverse that happiness is seldom used as the real test of success. A nation is more often judged to be "doing well" if its unemployment rates are low, if it has a healthy trade balance, if its currency ...
What Can Sadiq Khan Do To Solve London’s Vacant Property Crisis?
During his successful campaign to become the Mayor of London, Sadiq Khan promised to make London’s housing crisis his “single, biggest priority.” In fact, Khan said in his manifesto that “it doesn’t matter whether you’re talking to business leaders, local residents, charities or community groups: far and away the biggest ...
Overworked and Underpaid: Britain in crisis
Britain is set for decades of been overworked and underpaid as a perfect storm of stagnant wage growth and low-paid work meets inflationary pressures in the most pronounced real income squeeze of our generation. Although the Tories will most likely be celebrating the latest employment figures showing flat unemployment the ...
Annuities in crisis but London property still strong: Time to sell your pension?
Pension crisis leads many to consider other investment options for retirement. With markets struggling and the pound in crisis, take control of your pension fund and invest it in ways that will promise better returns for the future. Annuities have been struggling for some time, but over recent weeks they ...
Venezuela Introduces 2 Day Working Week And Puts Clocks Back To Tackle Energy Crisis
Venezuela's Vice-President Aristobulo Isturiz has announced that the country's two million state employees will only work Mondays and Tuesdays until the energy crisis that has crippled the country is over. The announcement follows news that the country is to put the clocks forward by half an hour to reduce demand for electricity ...
Jeremy Hunt warned NHS now hit ‘crisis point’ with patient safety & care now at risk
By Joe Mellor, Deputy Editor The NHS has hit crisis point with safety and patient care now at risk, a damning report will reveal. The report said that hospitals are really struggling because of pressure on them to make “efficiency savings” of £22bn over four years. Added to that spending ...
‘Worst cash crisis in its history’ facing NHS as deficit rises over £2.2 billion warn MPs
By Joe Mellor, Deputy Editor More shocking news on the state of the health service as MPs have warned that the NHS is now in “financial freefall,” after the overspend in nine months was £622 million over what was predicted. The nation’s hospitals are facing huge pressures from soaring demand ...
Did the Church really cause the financial collapse!
By J T Coombes www.globalmagnacarta.com @GMagnaCarta Many years ago I had a bank manager as a next door neighbour. He was a lovely man, a bit like Captain Mainwaring in Dad’s Army, who cared about people but without the pomposity. After he retired we began to see the ...
Why two thirds of the crisis was not our fault
By Valentina Magri It was mid-September when the two major economic events that have irreparably changed our lives occurred: the Northern Rock bank run in the UK (13th September 2007) and Chapter 11 for Lehman Brothers in the US (15th September 2008). In the Eurozone today Italy and France are sick and ...
Manufacturing sector decline ends amid increased political stability
UK manufacturing output was flat in January, ending the sector’s longest period of continued decline since the financial crisis.
‘UK economy in a precarious position’ – Biggest decline in employment for four years
Wage growth also saw a second consecutive month of decline as earnings remained below their pre-financial crisis peak.
Weakest UK growth in a decade worrying economic indictment for Tories
GDP data reveals Britain’s annual economic performance is the weakest since 2010 when it was emerging from a global financial crisis.
UK economy stagnates in election months
Car manufacturing weighed on the economy as GDP grew by 1.4% across 2019, the Office for National Statistics has said.
UK pub numbers up for first time in more than a decade
The growth has been driven by food rather than drink, figures show.
Economic cost of Brexit has already hit £130 billion
The British economy is now 3 per cent smaller than it could have been had the relationship with the EU been maintained.
Big increase in average household debt, study suggests
Government austerity, more insecure work and years of pay stagnation are to blame, says the TUC.
A decade of Tory austerity in numbers
A few choice figures that sum up a decade of Conservative austerity:
Record employment at risk despite surging wages, say economists
Economists at the Resolution Foundation said slow economic growth in 2019 could weigh on labour markets next year.