Wednesday, January 21, 2009

Yesterday BHP Billiton became the Government’s biggest headache, announcing a 6000-person culling of

The big cull: Rudd faces his worst nightmare

Now the two big factors standing between us and the recession-stricken overseas economies has been a stronger financial system and high employment. The economy has held up in the face of falling property and share markets but if unemployment takes a grip the effects quickly infect the wider economy.

Posted by chris @ 09:24 PM (1189 views)
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9 thoughts on “Yesterday BHP Billiton became the Government’s biggest headache, announcing a 6000-person culling of

  • I started reading the article then thought – hang on who’s BHP Billiton? I’ve never even heard of them and they employ 6,000 people!

    Then 1/3 of the way down I see it’s an Australian article. Nothing against that, but seeing as this is about the UK HPC, it would be nice to get a lookahead that its from Oz not UK.

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  • BHP Billiton is one of the world’s biggest firms, they employ over 100,000 people, they are sacking people in Aus, US, Africa… and I believe the UK

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  • PS I’m now in Oz and things are about to fall apart here, not that anyone here knows it yet! The news is all bad, but the thoughts are that it will be okay. It’s now like UK was in february/march. Soon carnage shall start…

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  • Paul I am a pom residing in oz I know what you thought but let me explain, BHP Billiton is a huge mining giant like Rio Tinto they supply raw materials to china and the rest of the world with most of there commodities Iron ore copper coal ect ect, so if they are in the s*** ,as they are not selling as mutch that means here it comes,sometimes what is going on overseas affects the U/K more than what is hapening at home

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  • Hi Folks

    Read a lot but rarely comment…

    Interesting to see beartil2010 second comment. That’s not the first time I’ve heard someone from a different country say virtually the same thing. This will probably sound paranoid but it is like each country is lining up to be picked off one at a time.

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  • I have been back in Oz a couple of times in the past few years and they do seem to be 6 to 12 months behind us wrt HPC. In February last year the banks were still pushing money onto people who didn’t really want it. Unfortunately, this includes some of my olderst friends who are going to get badly burnt I fear.

    paul – BHP and Rio Tinto have been in the UK news regularly over the past year. They are often feature shares on the entry page of the UK Igindex.

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  • @ paul post 1

    BHP Billiton is one of the largest companies in the world and is listed on the London stock exchange as BLT. The commodities boom is what gave the FTSE such an uplift

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  • With a ticker like this, BHP was bound to be jinxed. Commodities market will take another tumble.

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  • I too now live in Australia and over the last eight months have been running my own business digging small holes for Australians to stick their heads in. I currently have more work than I can handle and ‘am thinking of putting on a night shift using retrenched mine workers!

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