Reply to: Loving the new World Order

[lilelvis2000]

Think we're due the Bank of Englands economic forecast today.

I'm sure it will be revised up. This will be accompanied along with the phrase "In spite of BREXIT" and a warning that it may fall in the future because of uncertainty.

Do they gather around a dart board and where the most darts land that's the prediction?

[Mordac]

Interesting you wish a collapse of an organisation that has brought about and maintained peace in Europe. Probably the most peaceful continent on the planet.

We really are a twisted little war mongering species aren't we?

That would be NATO, and it's staying put. HTHBIDI.

[BlasterBates]

Goldman Sachs warns British government

I've no doubt that the government will take a pigheaded attitude to the banks argung they would have left anyway

[BlasterBates]

Right-sizing is a newspaper-friendly term for offshoring. "We're rightsizing our London base" sounds much better than "We're replacing 2000 UK employees with Indians in Pune".

The FT was not referring to "Tape Changers" desperately hanging on to their outdated skills, it referred to highly qualified investment bankers, whose jobs will be either moving to New York, Frankfurt or Paris.

[LondonManc]

So how is a decision not to bring staff over to the UK and actually move staff to the US not related to Brexit?

The "rightsizing" decision here was to consolidate into the UK, meaning jobs and that has now been changed resulting a net loss of jobs.

Companies have been "rightsizing" since the 1980's. It's not an explanation of job losses.

Right-sizing is a newspaper-friendly term for offshoring. "We're rightsizing our London base" sounds much better than "We're replacing 2000 UK employees with Indians in Pune".

[BlasterBates]

I think you'll find that companies are using Brexit (that hasn't happened yet) as an excuse to not spend money. It means that decisions can be hidden by Brexit instead of actually being in light of bad results (which again are the fault of the referendum).

So how is a decision not to bring staff over to the UK and actually move staff to the US not related to Brexit?

The "rightsizing" decision here was to consolidate into the UK, meaning jobs and that has now been changed resulting a net loss of jobs.

Companies have been "rightsizing" since the 1980's. It's not an explanation of job losses.

[LondonManc]

Rightsizing means moving or reducing staff in some areas and expanding in others. The key to economic success is not to prevent jobs disappearing but generate more jobs than are lost.

Goldman Sachs cancels plans to move jobs to Britain

Jobs that wouldn't have been lost will now be lost as the banks move their operations.

I think you'll find that companies are using Brexit (that hasn't happened yet) as an excuse to not spend money. It means that decisions can be hidden by Brexit instead of actually being in light of bad results (which again are the fault of the referendum).

[BlasterBates]

Many banks were "right-sizing" their bloated London centres before Brexit was even mentioned. Top men brought in cannot increase revenue so have to hack away at costs to drive up profits/pay for fines.

Rightsizing means moving or reducing staff in some areas and expanding in others. The key to economic success is not to prevent jobs disappearing but generate more jobs than are lost.

Goldman Sachs cancels plans to move jobs to Britain

Jobs that wouldn't have been lost will now be lost as the banks move their operations.

[tomtomagain]

3 points.

1. QE was restarted in June
2. At the same time the interest rate was cut from 0.5 to 0.25
3. Brexit hasn't happened yet.

So your point is is that a sovereign government can take actions to help an economy?

[sasguru]

Think we're due the Bank of Englands economic forecast today.

I'm sure it will be revised up. This will be accompanied along with the phrase "In spite of BREXIT" and a warning that it may fall in the future because of uncertainty.

3 points.

1. QE was restarted in June
2. At the same time the interest rate was cut from 0.5 to 0.25
3. Brexit hasn't happened yet.

[tomtomagain]

Think we're due the Bank of Englands economic forecast today.

I'm sure it will be revised up. This will be accompanied along with the phrase "In spite of BREXIT" and a warning that it may fall in the future because of uncertainty.

[OwlHoot]

The company’s British business has also been hit by a slowdown in its oil and gas division as well as a dearth of public sector hiring as a result of the government’s caps on contract rates. ..

What does "the government’s caps on contract rates" have to do with Brexit?

[LondonManc]

Not a prediction. The highlights, a report from SThree recruitment business:

So basically job market in the UK turning to sh*te, but booming in the EU and US.

Remains to be seen what effect Trump has on the US.

Many banks were "right-sizing" their bloated London centres before Brexit was even mentioned. Top men brought in cannot increase revenue so have to hack away at costs to drive up profits/pay for fines.

[BlasterBates]

a) That article is behind a paywall

b) The FT is an EU propaganda mouthpiece

c) The FT is usually wrong about any prediction regarding the EU

Not a prediction. The highlights, a report from SThree recruitment business:

Only two of SThree’s top 20 investment banking clients are taking on new permanent jobs, according to Gary Elden, the recruiter’s chief executive.

The company’s British business has also been hit by a slowdown in its oil and gas division as well as a dearth of public sector hiring as a result of the government’s caps on contract rates.

The slowdown in SThree’s UK business, which accounts for a quarter of gross profits, was more than made up for by strong growth in the US and Europe.

So basically job market in the UK turning to sh*te, but booming in the EU and US.

Remains to be seen what effect Trump has on the US.

[scooterscot]

a) That article is behind a paywall

Only if you're lazy. You can sign up and access 10 articles (I think) per month for free. I'm reading it the now without paying.