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Job cuts `hit two in three` in UK Almost 70% of people across the UK know someone who has lost their job in the recession, a BBC survey finds. BBCFitch cuts UCBH rating as bank suspends dividend Fitch Ratings pushed San Francisco-based UCBH Holdings Inc., parent of United Commercial Bank, deeper into speculative territory as the once-high flying bank said Tuesday that it will suspend dividends on its common and preferred stock. (UCBH) Biz JournalUK job cuts affect `two in three` Almost 70% of people across the UK know someone who has lost their job in the recession, a BBC survey finds. BBCCintas Squeezes Into Its UniformForbes Young are locked out of work Almost 30 years ago Corby became the grim face of Britain's unemployment crisis after the decline of the steel industry cost thousands their jobs; now history is repeating itself in the sprawling east Midlands town FTSilicon Valley apartment rents fall 3.8%; biggest decline in nation Reined in by recession and rising unemployment, apartment rents in Santa Clara County dropped a record 3.8 percent last quarter '” more than any other market in the country. Mercury NewsWithering shoots? The debate on the economic condition of the US has most recently focused on the effectiveness, or lack of it, of the fiscal stimulus package that the Obama administration initiated very early into its term. There is a growing body of opinion that says the $787 billion boost is simply not large enough. Although there has been much talk of green shoots in the past few weeks, as indicators like consumer confidence and housing starts have begun to stabilise, the one persistent source of concern has been unemployment. In June, the economy lost a further 467,000 jobs, less than the 700,000 job losses per month in the first quarter but still symptomatic of severe recession. This raised the unemployment rate to 9.5 per cent, a level not seen since the recession of the early 1980s. Business StandardStrong Intel Numbers Signal Hope for IT Industry Intels strong second quarter fueled hope that the global recession that has hammered the IT industry may be easing. Excluding the massive fine from the European Union, Intel had a $1 billion profit on $8 billion in revenue. Intel CEO Paul Otellini echoed his counterparts from Dell and Microsoft when he said he expected enterprise purchases of servers and consumer purchases of PCs to pick up after the recession forced them to cut spending. However, purchases of business PCs will remain stagnant. - Three months after CEO Paul Otellini announced that the PC market had bottomed out, Intels latest quarterly numbers indicate that the industry may be stabilizing. Intel July 14 posted strong numbers in the second quarter, including $8 billion in revenue and a $1 billion profit. However, when the Eu... eWeekMo. jobless rate increases in JuneBiz Journal Clouding the climate debate The deliberations at different forums at LAquila in Italy last week have further confounded the vexed issue of combating climate change. Instead of paving the way for a final agreement on emission reductions in the post-Kyoto period, after 2012, the voices emanating from these forums have added new dimensions to the issue which were not under negotiation thus far. What was expected, and also urgently needed, at this stage was to narrow the span of the climate change talks to firming up the country-specific targets of emission reduction for the Annexure-1 countries (for whom these cuts are binding), so that the non-mandatory but desirable action on the part of other countries could also be considered. Instead, the resolutions adopted at the meeting of the G-8 and that of the Major Economies Forum (MEF) have diverted the focus to vague goals based on equally indistinct parameters. Business Standard1 2 3 4 5 |
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