Thursday, 22 September 2011

Tesco launches supermarket price war


Link to the article: Channel 4 News

Tesco wages a major price offensive on rival supermarkets, aggressively cutting as much as 20 per cent from the cost of everyday items.

The UK's biggest supermarket chain has announced plans to cut the price of 3,000 essential items in a bid to halt the gradual slide of its share price.

Tesco says the move, which will cost the company £500m, is in response to the demands of its cash-strapped consumers. The group has suffered in recent years as Britons have cut back on groceries and switched to discounters such as Aldi and Lidl.

Families have seen the biggest fall in living standards in 30 years in the last financial year, and according to the Institute for Fiscal Studies (IFS) household budgets could be squeezed for another 10 years.

Tesco, where one in every ten pounds in Britain is spent, said it will reduce the number of multi-buy promotions and scrap its double Clubcard points offer in order to cover the cost of the price drop.

Tuesday, 20 September 2011

IMF slashes Britains growth forecast

Link to the article: Channel 4 News


The International Monetary Fund says economic growth in Britain will be lower than expected this year and the government may have to delay its tax and spending plans.


Monday, 19 September 2011

£355m Jaguar investment could create 750 jobs

Link to the article: Channel 4 News

Car giant Jaguar Land Rover announces a multi-million pounds investment which could bring hundreds of jobs to the employment-starved Midlands.



The company will build low-emission engines in the UK, creating up to 750 jobs. The new facility will be based at a business park near Wolverhampton in the Midlands, with work due to start early next year.

"We expect the engine manufacturing facility to create up to 750 highly-skilled engineering and manufacturing posts at Jaguar Land Rover, along with hundreds more highly-skilled manufacturing jobs in the supply chain and the wider UK economy," said Dr Ralf Speth, chief executive of Jaguar Land Rover.

"This is truly exciting news and is a major commitment for our company.

"As we invest £1.5bn a year for the next five years in new product developments, expanding our engine range will help us realise the full global potential of both our Jaguar and Land Rover brands."

Friday, 16 September 2011

Arms and the men - London weapons fair

Link to the article: Channel 4 Newshttp://www.blogger.com/img/blank.gif

This week's DSEi arms fair in London, funded in part by the UK taxpayer via UKTI, is among the biggest in the world.

Wednesday, 14 September 2011

Biggest unemployment rise in two years

Link to the article: Channel 4 News

Unemployment is rising at its fastest level for two years, as the number of young people without jobs surges.



Tuesday, 13 September 2011

Pressure on families as inflation rises again

Link to the article: Channel 4 News

Inflation rates rise again as increases in the price of gas and electricity, combined with higher clothing costs, continue to pile pressure on household incomes.

Wednesday, 7 September 2011

Yahoo! CEO sacked over the phone

Link to the article: Channel 4 News

Yahoo! CEO Carol Bartz is fired over the phone after a two-and-a-half year tenure plagued by falling growth. One analyst tells Channel 4 News the company has "endemic problems".

Osborne admits ecoomic growth has slowed

Link to the full article: Channel 4 News

Chancellor George Osborne admits that the economic recovery will be "choppy", but says he is sticking by his plans for deficit reduction despite evidence of a slowdown.

Tuesday, 6 September 2011

Steve Jobs in his own words

Link to the article: Channel 4 News

Steve Job's motivational speeches are as famous as Apple's products. One particularly well-documented speech given to the graduates of Stanford University in 2005 covered failure, mortality and hope.



Steve Jobs broke his speech down into three areas - his decision to quit college, life after being kicked out of Apple and being diagnosed with cancer. All seemingly dire things to reflect upon, but they demonstrate Jobs' determination to find the positive in all things.

'Trust the dots'

The first section covered his decision to drop out of college, but he began by explaining that he was given up for adoption by his biological mother.

However his birth-mother insisted to Jobs' adoptive parents that they must send him to college before she gave him to them.

The couple agreed and promised her that someday he would go.

Jobs said: "And 17 years later I did go to college. But I naively chose a college that was almost as expensive as Stanford, and all of my working-class parents' savings were being spent on my college tuition. After six months, I couldn't see the value in it. I had no idea what I wanted to do with my life and no idea how college was going to help me figure it out. And here I was spending all of the money my parents had saved their entire life.

"So I decided to drop out and trust that it would all work out OK. It was pretty scary at the time, but looking back it was one of the best decisions I ever made. The minute I dropped out I could stop taking the required classes that didn't interest me, and begin dropping in on the ones that looked interesting.

He explained how after taking the decision to leave college, he became involved in calligraphy lessons - which one day would ultimately influence how Mac computers, and their imitators, would look and function.

"So you have to trust that the dots will somehow connect in your future. You have to trust in something - your gut, destiny, life, karma, whatever. This approach has never let me down, and it has made all the difference in my life."

'Don't settle'

His second tale was about "love and loss" - the loss he felt when he left Apple in 1985, but how that led to him finding his wife, starting a family and ultimately returning to Apple.

"I'm pretty sure none of this would have happened if I hadn't been fired from Apple. It was awful tasting medicine, but I guess the patient needed it. Sometimes life hits you in the head with a brick. Don't lose faith," Jobs explained.

"I'm convinced that the only thing that kept me going was that I loved what I did. You've got to find what you love. And that is as true for your work as it is for your lovers.

"Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven't found it yet, keep looking. Don't settle."

'Your time is limited'

Finally Steve Jobs explained in intimate detail the day he was diagnosed with cancer, detailing the moment his doctors cried when they realised it was a rare form that they could cure.

"No one wants to die. Even people who want to go to heaven don't want to die to get there. And yet death is the destination we all share. No one has ever escaped it. And that is as it should be, because Death is very likely the single best invention of Life. It is Life's change agent. It clears out the old to make way for the new. Right now the new is you, but someday not too long from now, you will gradually become the old and be cleared away. Sorry to be so dramatic, but it is quite true.

"Your time is limited, so don't waste it living someone else's life. Don't be trapped by dogma - which is living with the results of other people's thinking. Don't let the noise of others' opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary."

Monday, 5 September 2011

Bosses 'bonuses' up 187 percent in last decade

Link to the article: Channel 4 News

The average annual bonus for a director in a FTSE 100 firm has increased by 187 per cent in the last ten years, a new study finds.

The huge leap in bonuses for top bosses has come despite the wider economic turmoil of recent years.

Salaries have also increased over the same 10-year period, by 63 per cent, according to research done by the High Pay Commission.

The average value of long-term incentive plan awards paid out to top executives across the FTSE 350 has increased by 700 per cent in total, the report said. In the state-supported banks, average total earnings of directors are now 130 per cent higher than ten years ago. In 2000, bank directors earned on average £1.7m while in 2010, this reached just under £4m.