One million young people without a job November 16, 2011 UNEMPLOYMENT jumped in the three months to September with more 16 to 24 year olds now looking for work than at any time since 1987, according to figures released yesterday by the Office for National Statistics. Youth unemployment hit 1.016m, higher than at any point under the current measuring system, which began in 1992 – [...]
King: end Eurozone crisis to put Britain on recovery path November 16, 2011 EUROZONE leaders must act swiftly and decisively to stem the crisis if the UK’s recovery is to get back on track, the Bank of England said yesterday as it cut growth and inflation forecasts. “The marked deterioration in the external environment, together with the domestic headwinds stemming from the fiscal consolidation and squeeze on households’ [...]
HOW WORRIED ARE YOU ABOUT UNEMPLOYMENT? November 16, 2011 EUAN MILNE | BERRYMANS LACE MAWER “People should definitely be worried. In the long-term, this could have a devastating effect on younger generations.” ANDY HAGGERSTONE | MYK GROUP EUROPE “I am very worried. My 15 year old nephew is already worried about his job prospects. It’s going to be tough for this generation.” MATT RICHARDS [...]
FACT CHECKER | WITH TIM WALLACE November 16, 2011 THE CLAIM: EURO CRISIS CAUSED JOB LOSSES “WHAT we are seeing are the consequences of the crisis in the Eurozone,” said minister of state for employment Chris Grayling, commenting on the news that unemployment hit a 15-year high between July and September. Labour’s shadow chancellor Ed Balls disagreed. “It’s not true,” he said. “Our recovery was [...]
Confidence falls to all time low on Europe fears November 16, 2011 WORRIES about the Eurozone crisis and the slowing domestic economy have pushed consumers to their gloomiest mood ever, according to Nationwide’s monthly confidence index, released this morning. Five consecutive monthly falls have taken consumer confidence to an all-time low of 36 points, 42 points below its long-term average of 76 points. Expectations, too, plummeted to [...]
City legal row could run for nearly a year November 16, 2011 ST PAUL’S Cathedral could close to visitors for a second time, it has emerged, as the City of London demanded protesters clear their camp today or face High Court action. Yesterday officers from the City Corporation pinned eviction notices to activists’ tents asking them to leave by 6pm, the opening salvo in a legal battle [...]
Rio Tinto blames carbon tax for the closure of UK smelter November 16, 2011 RIO TINTO yesterday said new environmental taxes and red tape were partly to blame for the closure of its Lynemouth aluminium smelter in Northumberland, risking 600 jobs. The mining giant said the smelter “is no longer a sustainable business because its energy costs are increasing significantly, due largely to emerging legislation”. It is thought that [...]
Some of MF Global’s funds could be released after court hearing November 16, 2011 THE TRUSTEE overseeing the bankruptcy of MF Global has filed for permission to release 60 per cent of the near $900m (£570m) in client cash that has been frozen at the brokerage for more than two weeks. In a measure that will provide some relief to traders who have clamoured to get access to their [...]
Stock exchange in the money as Italian business sees more gains November 16, 2011 PROFITS at the London Stock Exchange soared by almost 80 per cent in the past six months despite tough capital markets as it benefited from growth in trading services such as clearing, it said yesterday. Total income to the LSE increased by 20 per cent to £386.5m and pre-tax profit grew 79 per cent to [...]
Cable pins hope on apprentice boost for youth November 16, 2011 BUSINESS Secretary Vince Cable unveiled plans to increase the number of apprenticeships in order to tackle youth unemployment yesterday. Small businesses of up to 50 staff will be offered cash incentives of £1,500 per apprentice they take on, which the government hopes will boost the number of spots by 20,000. Cable also took time out [...]
