Unemployment up to 2.62m and Sir Mervyn King cuts UK growth predictions!

November 16, 2011 by · Comments Off on Unemployment up to 2.62m and Sir Mervyn King cuts UK growth predictions!
Filed under: Bank of England, Unemployment 

Two such headlines in the news on the same day make for depressing reading! “Youth” unemployment has risen above a million for the first time and the total out of work increased by 129,000 to 2.62 million in the three months to 30th September – the highest total since 1996. Female unemployment is at its highest for 23 years. The Opposition blamed the Government and the Government blamed the Euro zone crisis!

The Bank of England has cut its growth predictions for 2011 & 2012 to about 1%. Sir Mervyn believes “activity could be broadly flat until the middle of [2012]”.  CPI inflation has fallen from 5.2% in September to 5% last month. City analysts now believe interest rates will remain at 0.5% into 2013.

Sea France taking on water, but will she sink?

November 16, 2011 by · Comments Off on Sea France taking on water, but will she sink?
Filed under: Uncategorized 

The cross-channel ferry operator, Sea France, suspended its service on 15th November for 48 hours, while it awaits a legal decision on its future. It comes after the European Commission ruled that a €200m “bailout” by the French Government breached EC state aid rules. A decision on the company’s future is expected shortly from the Tribunal of Commerce in Paris. Nearly 200 jobs in Dover are at risk.