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Archive for November 3rd, 2009
Dog funds leave £14bn in the doldrums
The amount of savers’ cash languishing in grossly underperforming 'dog funds' has doubled to £14bn since the start of the year
Spain’s unemployment rate spirals to 19.3%
Official figures have revealed that Spain’s unemployment rate has reached 19.3% (one of the highest of any European region) as the economy has been hit by a severe slump within the construction industry, which has led to a significant amount of job losses.
Spain’s jobless rate is more than double the 9.2% rate for the EU [...]
Construction sector contracts for 20th consecutive month
The Chartered Institute of Planning & Supply(CIPS)/Markit purchasing managers index fell to 46.2 in October, from 46.7 in September, marking the 20th consecutive month of falls due to a slump in demand for commercial and civil engineering work.
Meanwhile, job cuts in the sector also increased at the fastest rate in four months, while input costs [...]
Nokia Siemens and Johnson & Johnson announce thousands of job losses
One of the world’s largest telecommunications equipment suppliers, Nokia Siemens Networks, is to lay off almost 6,000 workers globally in a bid to cut annual costs by €1 billion.
The company, which is a joint venture between Finland’s Nokia Corp. and Siemens AG of Germany, is struggling amid tough competition and the global recession which has [...]
Lloyds Banking Group up on launch of rights issue
European equities markets were lower Tuesday, led down by banks and miners.
The FTSE 100 was down 1.32 percent to 5,037.21 in London, while the FTSE 250 fell 1.81 percent to 8,756.68, with banks leading both gainers and losers on the 100.
Lloyds Banking Group (LSE: LLOY) added 2.74 percent and was the only gainer in the [...]