In Greece the anti-bailout party Syriza is neck and neck with the pro-bailout New Democracy party for next weeks election.
It is a choice which Europe views as one either for or against the euro.
The BBC’s special correspondent Allan Little has been to the small town of Kavala, in northern Greece – where unemployment levels are the highest in the country – to assess how the human cost of the spending [...]
Spain’s economy minister has dampened speculation that the country is about to seek a bailout of its bank sector.
Luis de Guindos said no decision would be made until audits of the banks were completed, possibly by the end of June.
There have been reports that Spain was seeking an immediate bailout from eurozone funds.
The European Central Bank (ECB), meanwhile, dashed hopes that it would further support banks to try to [...]
Shrinking order books will force Britain’s manufacturing sector to cut output over the next three months, the CBI said.
The employers’ organisation blamed weak demand for the worsening business climate for industry but said that exports were so far holding up despite the fresh turmoil in the eurozone.
In its monthly snapshot of activity in UK factories, the CBI found that only 19% of firms reported order books above normal against 36% [...]
Unaffordable debt from mail order catalogues is prompting more calls for help to a charity than payday loans, mortgages or rent.
The Money Advice Trust said that this form of debt was often “unmentioned”, but remained a key concern.
National Debtline, which is run by the charity, received a record 25,235 calls about catalogue debt last year, up 10% compared with a year earlier.
That was nearly double the number received in [...]
Troubled retailer Clinton Cards has been placed in adminstration, after its largest supplier took steps to begin the process earlier on Wednesday.
Clinton had already asked for trading in its shares to be suspended before the administration announcement.
It said two of its banks sold £35m of loans to supplier American Greetings.
While the banks had waived certain conditions for the loans, American Greetings had pressed for repayments that Clinton Cards could [...]
UK manufacturing output fell by 1% in February, suffering its biggest monthly fall for 10 months, casting doubt on the country’s economic recovery.
Factory output was also down 1.4% compared with a year ago, the Office for National Statistics said.
Economists had forecast a 0.1% rise for both the month and year, but some have questioned the official data.
Recent private sector surveys suggest the economy is picking up, with growth in [...]
A large section of the white cliffs of Dover has collapsed into the English Channel between Langdon Cliffs and South Foreland Lighthouse.
Dover Coastguard say no-one was injured when tonnes of rock collapsed into the sea in the area known locally as Crab Bay.
It is thought freezing conditions over the winter may have weakened the chalk and flint cliffs.
The boss of Tesco’s UK operation, Richard Brasher, is stepping down.
His departure, after only a year in the job, follows a disappointing Christmas sales period, a fall in market share and a profit warning in January.
The supermarket chain’s group chief executive, Philip Clarke, will take on responsibility for the UK business.
Tesco has failed to revive sales despite spending £500m on price cuts and is now planning a major revamp [...]
UK auto sales fall:
UK house prices fall:
UK price inflation with gasoline prices at the pumps breaks new record high:
Brazil overtakes UK economy:
Bankster Stanford found guilty of running a $7 billion Ponzi scheme:
If Britain were Greece…
Job losses in the tens of thousands, drastic wage cuts, and working even further into old age – just some of the challenges that would loom in the UK if the government had to introduce austerity cuts on the scale currently facing the Greeks.
For BBC Radio 4′s Broadcasting House – the Sunday Times Economics Editor, David Smith, was asked to imagine what would happen if Britain had [...]
UK’s debts ‘biggest in the world’
McKinsey said that the UK had by 2008 become the most indebted of all the big, rich economies, more indebted even than debt-engulfed Japan.
According to the consulting firm, by the end of March this year, the aggregate indebtedness of the UK – that’s the sum of household debts, company debts, government debts and bank debts -had risen to 492% of GDP, or almost five times [...]
Paul Chambers, the 27 year old tweeter found guilty of sending a “menacing” message about blowing up Robin Hood Airport, will appeal his conviction at the high court today, on 8 February.
In January 2010 Chambers joked that he would blow up the Doncaster airport if it was not reopened in time for him to travel to Northern Ireland and see a friend.
“Crap! Robin Hood airport is closed,” his [...]
UK government closes downloading file sharing site, containing pirated music material and puts up notice to say police and the serious crime squad can investigate all users who could face up to 10 years in jail and unlimited fines:
Music site RnBXclusive.com has been shut down by the UK’s Serious Organised Crime Agency (Soca).
A takedown notice warned visitors who have used the site to download music they could face up [...]
It’s video story with partial transcript. The video is about kids in an Italian school and also asks questions of kids about unemployment and money.
Pocket Money Problems In Pompeii (December 13, 2011)
“Schools World Service Reporter Ben Thompson went to visit a school in Pompeii to find out how kids there are affected by Italy’s money worries… Lots of children know people who have lost their jobs because of the crisis. One [...]
More people plan to reduce spending and say they are now saving
A growing number of people in the UK plan to cut back on their spending this year, a survey has suggested.
One in three adults now plan to spend less in 2012, a rise from October when 19% said they would cut back, the Resolution Foundation think tank said.
About a quarter of those surveyed said they expected their finances [...]
Thorntons will issue another trading update on 12 January
Chocolate maker Thorntons has issued a profit warning, blaming weak consumer confidence and high levels of promotional activity.
It is predicting that it will break even in the 53 weeks to 30 June 2012.
But that figure excludes exceptional items and what it calls “onerous leasing charges”.
Having to make lease payments on closed stores was one of the factors blamed by Thorntons for [...]
Despite heavy discounting and pre-Christmas sales to lure spenders, UK November sales fall:
Widespread discounting on the High Street failed to stop retail sales falling by 0.4% in November from the month before.
Excluding spending on fuel, retail sales fell 0.7% on the month, according the Office for National Statistics.
The data revealed that consumers had cut back spending on computers, mobile phones, watches and jewellery, but that clothes sales had [...]
Jefferson Co. AL bankrupt after corrupt sewer deal:
The facility, which has been under construction since 1996, was meant to cost about $300m.
But the bill soared to $3.1bn after construction problems and a series of bond and derivatives deals that went sour in the financial meltdown of 2008.
City of Hoover dodged a bullet:
When he was Republican mayor of Birmingham’s neighbouring city of Hoover, Mr Petelos recalls attending a presentation by a [...]
Members of the Unison trade union have voted in favour of striking against the government’s plans to change public service pension schemes.
There was a 78% majority, with 245,358 in favour and 70,253 against on a 29% turnout.
The vote means there is likely to be a huge national strike on 30 November.
On Wednesday, the government offered to change its plans, which are aimed at cutting the cost [...]
I enjoy using the iPod and the only thing stopping me using the iPhone, iMac and iPad are the affordability, especially on being made redundant and having to spend on doing further study and I needed to upgrade my laptop and software to do this, but couldn’t afford the cost of the MacBook. I’m sure that’s how it is for many, but they are good [...]
Aug 28, 2011
For what it’s worth here is a response from the BBC concerning footage it ran on August 24, claiming a gathering in India, with people waving Indian flags, was actually footage of celebrations from a liberated Green Square in Tripoli:
Dear Mr Watson,
Thanks for contacting us regarding ‘Breakfast’ broadcast on 24 August on BBC One.
We understand you were concerned that incorrect footage was shown [...]
I’m watching the news on BBC 24 about the riots in the UK. As an expat Brit, I am watching this with a lot of interest. Societal breakdown has always been a fear of mine and hearing stories from my Brother in law about the trouble in Croydon (South of London), the police really seem to have lost control. As Celente says, [...]
Strong demand for rented properties has pushed private sector rents to an average of £701 a month across England and Wales, a letting firm has said.
LSL Property Services, which owns letting agencies around the country, said the average rent paid by private tenants rose by 0.7% in June.
Over the past year, rents have now gone up by 4.1%, the equivalent of an extra £28 a [...]
He also says that a journalist he spoke to boasted off involvement with UK Prime Ministers and specifically involvement on UK Government’s communications secretary Coulson. Video clip of interview:
The actor Hugh Grant has been speaking about how he recorded a conversation between himself and Paul McMullan, in which the journalist revealed details of phone hacking by the media.
Details of the exchange were then revealed by Mr Grant in the New [...]
Another BBC journalist reports “1509: Chris Morris BBC News, Athens there are up to 1000 involved in running battles with riot police, but thousands more around Athens peaceful but very angry at what their government is doing to the people and the country:
Protestors attack Finance Ministry:
One of UK’s largest hardware chains goes bankrupt:
Portugal which has recently been given a huge bailout is heading for recession:
Stop and account
The police can stop anyone in a public place and ask you to account for yourself.
Fingerprints, photographs and DNA samples
If you have been arrested, charged, convicted or received a caution, warning or reprimand for a recordable offence in England and Wales, the police have the power to take your fingerprints, photographs and a DNA sample without your consent to prevent and [...]