http://news.bbc.co.uk/1/hi/business/7486127.stm
There was no respite from the dire mood in the housebuilding industry. Taylor Wimpey told the Stock Exchange that it had not been able to finalise a cash-raising exercise with shareholders and that it might be in breach of banking covenants next year. It is to cut 900 jobs and close 13 regional offices.
Some economists are saying that the chances of a recession in the UK are now 50:50.
This week's news suggests that the pace of economic growth is slowing rapidly with a significant gear change in May.
So far the evidence is anecdotal, but the preliminary estimate of growth in the second quarter will be out soon.
If it is negative and stays that way after further revisions then the first stage of a technical recession will be in place.
Things, can only get better, can only get better....
There was no respite from the dire mood in the housebuilding industry. Taylor Wimpey told the Stock Exchange that it had not been able to finalise a cash-raising exercise with shareholders and that it might be in breach of banking covenants next year. It is to cut 900 jobs and close 13 regional offices.
Some economists are saying that the chances of a recession in the UK are now 50:50.
This week's news suggests that the pace of economic growth is slowing rapidly with a significant gear change in May.
So far the evidence is anecdotal, but the preliminary estimate of growth in the second quarter will be out soon.
If it is negative and stays that way after further revisions then the first stage of a technical recession will be in place.
Things, can only get better, can only get better....
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