Tuesday, November 10, 2009

Even more green shoots

Telecoms Giant Ericsson To Axe 700 Jobs

Telecoms giant Ericsson says it is to close a site in Coventry with the loss of 700 jobs.

Posted by mark @ 03:38 PM (1170 views)
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12 thoughts on “Even more green shoots

  • You’re having a cracking day today Mark!

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  • better than being on crack like you smugdog

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  • cat and canary says:

    if check out the bbc/busines homepage right now you’ll see the following headlines….

    this is for anyone having doubts about where we are headed next w.r.t house prices…

    > Lloyds’ 5000 job cuts
    > Lloyds and RBS cut down to size
    > RBS cuts 1000s of retail jobs
    > Recession fuels UK shoplifting
    > Ericsson cuts 700 UK jobs
    > Vodafone to extend cost-cutting
    > Banks on steroids worry France
    > UK trade gap widens in September

    and..
    > Profits at Barclays and HSBC
    > house prices ‘to keep on rising’

    houseprices cannot continue rise, there isn’t a shred of logical reasoning in me that thinks so

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  • I agree totally Cat & Canary, there is no logic in the continued rise in house prices. What and when will it tip over? A gradual or sudden fall?

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  • cat and canary says:

    I forgot to add the articles at the bottom of the page…

    > Further job cuts sought at Honda
    > Biscuit plants to shed 300 jobs
    > Flights grounded in Iberia strike
    > German investor confidence drops
    > NI endures ‘worst ever’ slowdown
    > Games maker EA cuts 1,500 jobs
    > City regulator issues jail threat
    > 3.6m ‘miss out on energy savings’
    > Bad credit card debts ‘will soar’
    > Gold hits new high on weak dollar
    > Corruption costs $1.6tn, UN says
    > Factory wind-up process begins

    and… on the positive…
    > Pension fund deficits ‘slashed’
    > Strong increase in retail sales
    > Jobs market decline ‘set to slow’
    > Shares jump on G20 pledge
    > Spurs make record pre-tax profit

    the majority of the positives are speculative or as in the “increase in retail sales” manipulation of figures which compares oct 2009 with oct 2008 (during the banking collapse)

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  • smugdog,

    answers to your questions above

    What and when will it tip over?

    Once the general election is over, minimum 6 months time the fun begins.

    A gradual or sudden fall?

    A sudden fall, followed by a gradual decline over 3 to 4 years, 30-40% fall overall.

    thats my prediction. whats yours?

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  • Sold Out @7, I just can’t see the Tories being seen as the bad boys by making life hell for the masses as soon as they get their foot in the door, that’s if they win. Many have seen no deterioration in their living standards so far with many enjoying penny rate mortgages. This does not add up and cannot last, that’s the truth. Will the rest of world’s economic emergence rescue and reduce the our pain? Time will tell.

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  • [email protected]:56

    I don’t think it is will matter who is elected Labour or Tories will have no option other than to make drastic cuts and also raise interest rates.
    What we have at the moment is a government that is doing its utmost to win the next election and that is why they are desperate to keep the housing bubble inflated at all costs.
    I don’t agree with your assessment that “Many have seen no deterioration in their living standards” i believe the opposite to be the case.
    And you then seen to contradict yourself by saying “Will the rest of world’s economic emergence rescue and rescue and reduce the our pain? ”
    What Pain? I thought you just said “Many have seen no deterioration in their living standards ”
    Do you mean the pain of a House Price Crash perhaps?

    Anyway you didn’t answer my question, you have allready stated today that you don’t believe their will be continued increases in house prices. So what is your prediction a 5% fall? 10%? or More? or perhaps the old classic Prices will remain stagnent?

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  • Correction

    You then said

    “Will the rest of world’s economic emergence rescue and reduce the our pain?”

    apologies

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  • There are many who have not seen a recession, I stick by that and witness it by my own eyes.

    In fact the recession has increased the pound note in the pockets of many by near zero mortgage rates, scrappage giveaways and mega sales on the high street by those eager to stay afloat.

    For many others, it hasn’t been so good.

    Many more on “stupid street” have been less fortunate, a chequered credit history, credit fees and sky high loan payments make for a bleak future for the masses.

    I care not to make a prediction, many before me, of a higher standing have predicted and have got it so wrong. What I do say is be prepared for all eventualities, be quick to respond to change and, as I have done, make hay whilst the sun shines, for it may not be so bright next year.

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  • cat and canary says:

    Smugdoggy-dog,

    Everyone´s seen a recession in some way. I lost interest on my savings, and I got a 0% pay rise! But worse, I have many well educated mates who can´t get a job.

    Not gonna ramble on with endless arguments you´ve heard before or pull meaningless percentages from thin air.

    But i´ll say a couple of things regarding how or when houseprices fall . You hit the nail on the head when you questioned the UK´s exit strategy. That is the whole point.

    The whole bail out thing delayed and stretched out the recession. Avoiding short term pain in the UK.

    But just when you´re seeing many countries recover, and oil price recovery etc, we in the UK are still in it up to our knees.

    You think Merv is unpopular now, wait until he has to raise interest rates just as unemployment is peaking. We already see insolvencies rising fast, with 0.5% interest rates. Unemployment is starting to bite.

    The BoE latest QE move is designed to fight deflation months down the line. Yet inflation pressure is already building.

    Cameron may get the job of his dreams, but is he going to enjoy telling the public why he has to cut public sector jobs right just as unemployment is peaking?

    A delayed correction, that caught us all by surprise. But still the full correction beckons and a painful one for many.

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