News

EU and UK to agree split of banks

The EU and UK will agree to break up Northern Rock, Lloyds and RBS. In their push to reduce the size and impact of individual banks on not only the market put also the country as a while, they are pushing ahead with plans to bring new blood into the banking industry.

Councils given 'Al Capone' powers to sieze minor offenders' assets

According to the Times, councils are to be given wide ranging powers of confiscation to allow them to sieze the assets of minor offenders.These offences could be anything from failure to pay council tax to fare dodgers. It is argued that it will free up police time.

Government Face Territorial Army U-Turn On Cuts

The Government have made U-Turn decision to cut £20million from the Territorial army budget after coming under heavy fire themselves from Military personnel and MPs from across the house of commons.

Eurozone heading for deflation.

The Eurozone M3 broad money supply has contracted over the last 6 months. There is also a reduction of 0.3% in private sector loans. The M3 broad money supply is used to gauge the economy about a year's hence. There has already been patchy deflation in the Eurozone and this looks set to spread across the EU economy.

EU rules on bank bonds causes insurers severe concern

The EU is demanding that nationalised UK banks effectively default on all or part of their issued bonds in order that the money be used to pay back the taxpayer first. This takes the bail out repayment responsibility down the risk chain through 'ownership' into 'loanership' territory (dividends on nationalised banks shares have not been paid since 2008).

Poll puts Conservatives in 13% lead over Labour

The Tories have come out of the party conference season with a healthy lead over Labour according to  ComRes survey for the Independent.This will come as no surprise, the failing economy and wars in foreign lands have not helped Labour's case. What will give us all comfort though is there doesn't seem to have been a BNP bounce as some had predicted. Despite the survey being taken over the weekend so soon after the Question Time programme last Thursday.

Bank Of England's Adam Posen plays down any inflationary consequences from quantitative easing

Newly appointed policy maker to the Bank Of England, Adam Posen, has said that Quantitative easing will not cause a surge in inflation. This will come as no surprise to Economic Voice readers who have long debated the potential of QE as an inflationary pressure.

Multi Level Marketing is a glorified Ponzi scheme

There are reports today on Sky News of Debbie Davis, now making £250,000 a year with a turnover of £7m – as Britain's most successful Avon lady. This will probably swamp the UK Avon website with curious women wondering if they can easily do the same. The dream, making a fortune from selling cosmetics to a most grateful selection of family and friends. But a word of caution.

Single parents benefits targeted by Yvette Cooper

Back to her family friendly push The Work And Pensions Minister Yvette Cooper is now threatening to take income support away from single parents and throwing them onto Job Seekers Allowance. The move shows the increasingly tough stance being adopted by the government on benefits and a move towards reducing the unemployment figures and reducing

Tony Blair set to be EU president

At the moment it seems that Tony Blair is the only candidate for the job of EU president. His supporters, including our own Foreign Secretary, David Milliband, are now coming out in strength to market his case. This does all seem a bit previous though, as the presidency doesn't even have a job description yet!

Labour's future hangs by a thread

In the light of yesterday's news on the state of the economy do Gordon Brown's government,  promises and forecasts have anything left to offer the electorate? The prediction made by Alistair Darling in his pre-budget report that Britain would emerge from the recession before the end of the year has now been proven to be nothing less than a figment of his own imagination.

Adventurous drug dealers

Drug smugglers are getting more adventurous by the day.

Mexico has long been the drug trafficking route of choice into the USA.

This has bred terrible violence in Mexico. Drug cartels, such as the Sinaloa, have been battling over supply lines that has led to 1000’s of deaths. In one single attack 28 people were lined up against a wall and executed by a rival gang.