Falling productivity may explain the jobs riddle

  According to the Office of National Statistics, there has been a sharp rise in employment even though the economy dipped during the third quarter.  One possible explanation is that information is not being properly sampled.  Another possibility is that falling productivity has created a demand for more workers to satisfy the needs of their employers.   Source: Guardian

Olympic Effect Short-Lived

  While the Olympic Games brought temporary relief to some of the employment problems currently experienced in Britain, the Governor of the Bank of England knows that unless actions are taken to retain this workforce – two thirds of the private sector will be forced out of jobs.  Even worse, confidence in the labor market has been dropping as well. …

Bankruptcies continue to fall in the UK

In the midst of economic turmoil, good news is sometimes received with disbelief, but the latest statistic by the UK government indicate that bankruptcies for banks have fallen in comparison to last year at this time. But even with this small good fortune, sceptics warn that the worse can still wield its head considering the insolvency of many people and …

Russell Brand’s Father ‘Facing Bankruptcy’

The United Kingdom’s funny man Russel Brand has a new girlfriend while his father back in the UK is struggling with financial problems after a bad investment. Russel’s father Ron Brand would never bother his son with his financial problems and is determined to work through them on his own, with out asking Russel Brand for help. Read the full …

Priory Hall developer declared bankrupt

The article says about Tom McFeely, Priory Hall Developer has been declared by the court to be insolvent, which means his property will be taken and disposed of for the benefit of creditors. Theresa McGuiness from Rush in Co. Dublin has earlier raised complaints against the developer stating that the building which was provided to her had structural faults, and …

Retail bankruptcies rise 10% as high street cull continues

It seems yet another company has filed bankruptcy, Clinton Cards. Reports suggests a decline in sales forcing companies like this to decline. PricewaterhouseCoopers conducted a study that shows a reduction among private sector that due well month to month. There has been a streamline of companies that fall victim to the struggles of American consumers every quarter. Source: Guardian

250 Fijians in British Army listed for redundancy

The Ministry of Defence is set to reduce the numbers in the British Army. 250 Fijians are the first batch of redundancy soldiers from a commonwealth nation that are affected by this particular tranche. There are three more such tranches scheduled before 2014. Defense Secretary Philip Hammond stated that the target of the tranches are the commonwealth nations with large …

Fifteen out, 16 in, but no place for ‘redundant’ chair

An employment tribunal has ruled that a former professor at London South Bank University was unfairly dismissed from her post when the school’s Faculty of Engineering was restructured in 2009. As this article explains, the tribunal agreed with Professor Larissa Fradkin’s claim that the process used to make her redundant was arbitrary and unfairly tilted against incumbent professors. The tribunal …

The cities that have gone bankrupt

California is facing a growing crisis in that many of its cities have either declared bankruptcy or are on the verge of doing so. Included in the former are Mammoth Lakes, San Bernardino, and Stockton. Several other cities, including Scranton and Compton, are currently deciding whether or not to declare bankruptcy. Unemployment rates have risen heavily in these cities, followed …

UK public sector borrowing overshoots forecasts

According to new information released on Friday, public sector borrowing in the U.K. increased to 14.4 billion pounds in June. This was due partly to the fact that spending on unemployment and other social benefits rose by 3%. Furthermore, income tax collections during the month were also lower than expected. Britain’s economy has stayed relatively flat since the end of …