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News Tag: warning

July 14, 2010

CIPD warns of jobs deficit amid spending cuts

by Kay Murchie
”CIPD
The Chartered Institute of Personnel and Development (CIPD) has warned of higher unemployment if economic growth misses forecasts. According to the employment group, growth needs to be at least 2.5% between now and 2015, in order for the private sector to create sufficient jobs to offset those that would be lost as a result of massive Government spending ...



June 27, 2010

G20 summit sees protesters turn violent

by Kay Murchie
”G20
This weekend’s G20 summit, held in Toronto, Canada, saw more than 400 protesters arrested. Four police cars were set alight, while shop windows were broken with baseball bats and hammers, according to reports. Similar protests have occurred during the summit in past years and this year was no different as demonstrators came in their droves to protest against political issues. This weekend’s summit saw ...



June 20, 2010

Osborne aims to provide “prosperity for all”

by Kay Murchie
”Osborne
As the emergency budget approaches, Chancellor George Osborne has told the BBC that the massive spending cuts will save Britain from the problems which debt-stricken Greece faces. Speaking to the BBC's Andrew Marr Show, Mr Osborne said: "Unless we take determined and concerted action, we will find our country on the road to ruin". Cutting the country’s huge deficit has been the ...



June 14, 2010

OBR set to downgrade UK growth prospects

by Kay Murchie
”OBR
The newly-established Office of Budget Responsibility (OBR) is scheduled to publish growth forecasts later and they are likely to be much lower than the previous Labour Government's predictions. According to economists, the OBR, which is led by former Treasury official Sir Alan Budd, is expected to say ex-Chancellor Alistair Darling's 2011 forecast of 3% - 3.5% was too ambitious. Jonathan Loynes ...



June 13, 2010

Former MPC member warns of double dip recession

by Kay Murchie
”Former
Professor David Blanchflower, a former member of the Bank of England’s Monetary Policy Committee (MPC), has warned that cutting the deficit too quickly risks putting the UK back into recession. Mr Blanchflower, who is professor of economics at Dartmouth College in the US, told Sky News today that further investment is required to build growth. The new coalition Government has ...



June 11, 2010

Japan at ‘risk of collapse’ under mountain of debt

by Kay Murchie
”Japan
The Japanese economy, which is the world’s second largest, faces many risks, one of them is deflation and the other is the country’s debt - which at nearly 230% of GDP is the highest of any industrialised nation. The debt is the result of decades of stimulus spending and low tax receipts. Japan's new Prime Minister, Naoto Kan, ...



June 10, 2010

CIPD warns of high unemployment amid Government spending cuts

by Kay Murchie
”CIPD
A report by the Chartered Institute of Personnel and Development (CIPD) has warned that UK unemployment could reach 2.95 million, from its current 2.51 million, as a result of the Government’s planned spending cuts. According to the influential think tank, 750,000 public sector workers could join the dole queue as the new coalition Government embarks on tough austerity measures ...



June 9, 2010

euro zone debt crisis could hit global economy

by Kay Murchie
euro zone debt crisis could hit global economy
There are fears that the debt crisis in the euro zone could hit the global economy but Australia believes its economy will be unaffected. According to the Reserve Bank of Australia (RBA) governor, Glenn Stevens, the country’s strong trade connections with East Asia means it will be relatively unaffected by the events in the euro zone. The Australian economy is one ...



June 8, 2010

Fitch warns of “formidable” challenge for UK

by Kay Murchie
’Fitch
Credit rating agency Fitch today warned that the UK needs a more ambitious deficit reduction plan, in view of the events in the euro zone. The pound fell against the dollar after Fitch’s comments, by 1% to $1.437. According to Fitch, the pace of the deficit reduction needs to be quicker than that announced by the previous Labour Government in ...



June 7, 2010

Cameron: Budget problems worse than thought

by Kay Murchie
’Cameron:
In a major speech in Milton Keynes this morning, Prime Minister David Cameron said the budget problems are even worse than thought and has laid the blame with the former Government. His speech, which comes ahead of the emergency budget on 22 June, issued a stark warning about the painful spending cuts which his Government is to implement in the years ...



PM to warn of painful spending cuts

by Kay Murchie
”PM
In a major speech in Milton Keynes this morning, Prime Minister David Cameron is expected to issue a stark warning about the painful spending cuts which his Government is to implement in the years to come. Mr Cameron is expected to say: "The decisions we make will affect every single person in our country. And the effects of those decisions will ...



June 6, 2010

Cameron explains “the purpose behind the pain”

by Kay Murchie
”Cameron
In an interview with the Sunday Times, Prime Minister David Cameron said action needed to be taken to deal with the “huge amount of debt” but promised to explain “the purpose behind the pain”. He said: "The country has got an overdraft. The interest on that overdraft is swallowing up things that the nation should otherwise be spending money on. "We ...



May 30, 2010

Further blow for Spain as Fitch cut rating

by Kay Murchie
Further blow for Spain as Fitch cut rating
Fitch Ratings cut Spain's credit rating from the maximum AAA to AA+ on Friday and the news comes just a week after one of the country’s banks, CajaSur, was bailed out. Standard & Poor's cut Spain’s credit rating a month ago and comes as the country has been forced to implement tough austerity measures in order to tackle the country’s ...



May 26, 2010

OECD raises global growth forecasts

by Kay Murchie
”OECD
Influential think-tank, the Organisation for Economic Co-operation and Development (OECD), has raised its worldwide growth forecasts in its twice-yearly report. The Paris-based Organisation said the global economy is recovering faster than expected with Asia continuing to drive the expansion. However, debt crises in many countries may threaten expansion in the developed world, the OECD warned. Furthermore, there is a risk of overheating in the Chinese ...



May 25, 2010

Global stock markets slump on euro debt

by Kay Murchie
Global stock markets slump on euro debt
Stock markets across the world fell sharply today over ongoing fears about the debt crisis in the euro zone. London’s FTSE fell below the crucial 5,000 mark today to 4,939.6 points - its lowest level for eight months. Germany's Dax index lost 2.7%, while France’s Cac 40 index fell 3.2%. Earlier in the day, Asian markets also saw sharp falls. Stocks ...



IMF issues warning for Spanish economy

by Kay Murchie
IMF issues warning for Spanish economy
The International Monetary Fund (IMF) has issued a severe warning to the Spanish economy suggesting it needs "far-reaching" reforms to ensure its recovery. The economy, which is the euro zone’s fourth largest, exited recession in the first quarter of the year after experiencing growth of just 0.1% - ending a run of seven consecutive quarters of contraction. There are concerns for the ...



May 20, 2010

Japanese economy surges 1.2% in Q1

by Kay Murchie
Japanese economy surges 1.2% in Q1
The Cabinet Office has today announced that the world’s second largest economy expanded by 1.2% between January and March compared with the previous quarter - marking the fourth straight quarter of expansion. The growth was boosted by exports, while on an annual basis, growth was 4.9% - however, analysts had expected growth of between 5.4% and 5.9%. However, while growth surges ...



May 19, 2010

Japan’s debt needs to be cut warns IMF

by Kay Murchie
Japan’s debt needs to be cut warns IMF
The strength of the recovery in the world’s second largest economy should lead it to start reducing its massive debt from 2011, according to the International Monetary Fund (IMF). The IMF is urging Japan to increase consumption tax, while containing its growth in spending, in order to deal with its debt which currently stands at nearly 230% of GDP - ...



April 27, 2010

3,000 Post Offices at risk of closure

by Kay Murchie
”3,000
The National Federation of Sub-Postmasters has today warned that 3,000 post offices are at risk of closure. According to George Thomson, the Federation's general secretary, a 'double squeeze' of falling income from Post Office Limited, along with higher staff and utility bills means many post offices are struggling to keep their heads above water. Post Office Limited pays all the country's 9,000 ...



April 14, 2010

Portugal warned over budget deficit

by Kay Murchie
Portugal warned over budget deficit
The European Commission has warned that additional measures may need to be taken by Portugal in order to cut its budget deficit. Like Greece, Portugal’s public finances are in a dire state and last month, international credit rating agency, Fitch, cut the country’s credit rating to ‘AA-’ with a negative outlook. According to Fitch, Portugal’s prospects for recovery are weaker than its fellow ...



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