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	<title>Calculator.co.uk</title>
	
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	<description>We can work it out</description>
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		<title>Dell Faces Falling Profits as Shareholder Battle Rages</title>
		<link>http://www.calculator.co.uk/3904/2013/05/dell-faces-falling-profits-as-shareholder-battle-rages/?utm_source=rss&amp;utm_medium=rss&amp;utm_campaign=dell-faces-falling-profits-as-shareholder-battle-rages</link>
		<comments>http://www.calculator.co.uk/3904/2013/05/dell-faces-falling-profits-as-shareholder-battle-rages/#comments</comments>
		<pubDate>Sun, 19 May 2013 09:12:40 +0000</pubDate>
		<dc:creator />
				<category><![CDATA[Business]]></category>
		<category><![CDATA[dell]]></category>
		<category><![CDATA[private company]]></category>
		<category><![CDATA[shareholder]]></category>
		<category><![CDATA[technology industry]]></category>

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		<description><![CDATA[Dell, one of the largest companies in the technology world, faces falling profits as an ongoing shareholder battle takes its...]]></description>
				<content:encoded><![CDATA[<p><i>Dell</i>, one of the largest companies in the technology world, faces falling profits as an ongoing shareholder battle takes its toll on the company. The Texas-based PC giant reported first quarter profits of just $140 million on revenue of $15 billion, a two percent decrease from its average earnings for the quarter.</p>
<p>Many of Dell’s issues can be traced back to a product lineup that’s falling behind offerings from its competitors. Dell has continued to focus on home and business computing over the past decade, while its rivals – HP and Lenovo amongst them – have increasingly focused on mobile devices such as touchscreen tablets.</p>
<p>The company’s catalogue has resulted in an ongoing dispute between its founder Michael Dell and the company’s two largest investors. Mr. Dell wishes to take the company private once again and focus on developing mobile devices, while many shareholders argue that Dell should remain a public company.</p>
<p>A key point of dispute between Mr. Dell and the company’s two largest investors – <i>Southeastern Asset Management </i>and<i> </i>Carl Icahn<i> </i>– is over Dell’s value. Mr. Dell is bearish on Dell’s current valuation, offering to buy the company for $24.4 billion using his personal funds and the assistance of a private equity group.</p>
<p>Dell’s investors, however, claim that the company is worth far more than $24.4 billion, and that Mr. Dell’s offer is a ‘giveaway’. Dell’s revenue decreased by two percent in the last quarter, although income from new technology increased by 12 percent, making up for a nine percent drop in income from PC sales.</p>
<p>Whichever direction Dell chooses, the company faces a dilemma: to reduce its involvement in the home PC market and focus on mobile devices, or continue with its – in the past – most profitable enterprise and continue to manufacture home PCs and business workstations.</p>
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		<title>Contactless Payment Systems ‘Take Money Without Permission’</title>
		<link>http://www.calculator.co.uk/3994/2013/05/contactless-payment-systems-take-money-without-permission/?utm_source=rss&amp;utm_medium=rss&amp;utm_campaign=contactless-payment-systems-take-money-without-permission</link>
		<comments>http://www.calculator.co.uk/3994/2013/05/contactless-payment-systems-take-money-without-permission/#comments</comments>
		<pubDate>Sat, 18 May 2013 09:29:06 +0000</pubDate>
		<dc:creator />
				<category><![CDATA[Business]]></category>
		<category><![CDATA[Credit Cards]]></category>
		<category><![CDATA[contactless cards]]></category>
		<category><![CDATA[marks and spencer]]></category>
		<category><![CDATA[retail payment solutions]]></category>

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		<description><![CDATA[One of the biggest recent innovations in retail payments might have a few holes for consumers. Contactless payment cards, which...]]></description>
				<content:encoded><![CDATA[<p>One of the biggest recent innovations in retail payments might have a few holes for consumers. Contactless payment cards, which use new technology called ‘near field communication’ to authorize payments remotely, have reportedly double charged consumers for a variety of retail purchases.</p>
<p>Retail chain <i>Marks and Spencer</i> is the UK’s largest user of contactless payment terminals, with over 644 installations across its UK stores. For the most part, it has seen great results from the terminals, with almost 250,000 retail payments made every week using the new technology.</p>
<p>However, the technology also appears to be producing some unwanted glitches for shoppers. Marks and Spencer has reported five complaints from contactless card users that claim the technology double charged them – requesting payment from both the contactless card and the standard card used at the checkout.</p>
<p>Contactless card readers are designed to only charge cards that come within two inches of the machine. This technology aims to prevent unauthorized charges to consumer cards. However, many consumers have reported charges coming from cards that were located as far as eleven inches from the checkout card reader.</p>
<p>M&amp;S, and the various other retailers that use contactless cards at their checkout, are working with consumers affected by card reader glitches. The customers that have complained about the technology have been refunded for the extra charges, and M&amp;S has noted the most customers are happy about the new technology.</p>
<p>The contactless system is currently designed to limit transactions to a maximum of £20, possibly to prevent misreading issues from occurring. However, it seems like this technology, which is undoubtedly designed for convenience, may end up producing some serious headaches for consumers before it becomes standard.</p>
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		<title>Eric Schmidt Talks With David Cameron, But Not About Tax</title>
		<link>http://www.calculator.co.uk/3735/2013/05/eric-schmidt-talks-with-david-cameron-but-not-about-tax/?utm_source=rss&amp;utm_medium=rss&amp;utm_campaign=eric-schmidt-talks-with-david-cameron-but-not-about-tax</link>
		<comments>http://www.calculator.co.uk/3735/2013/05/eric-schmidt-talks-with-david-cameron-but-not-about-tax/#comments</comments>
		<pubDate>Fri, 17 May 2013 15:14:52 +0000</pubDate>
		<dc:creator />
				<category><![CDATA[Taxes]]></category>
		<category><![CDATA[amazon.co.uk]]></category>
		<category><![CDATA[google]]></category>
		<category><![CDATA[tax avoidance]]></category>
		<category><![CDATA[tax evasion]]></category>

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		<description><![CDATA[It’s been a difficult week for Google’s UK division. After whistleblower reports made public the fact that the company was...]]></description>
				<content:encoded><![CDATA[<p>It’s been a difficult week for Google’s UK division. After whistleblower reports made public the fact that the company was paying just over £3 million in tax on UK sales of over £4 million per year, the online search advertising giant has been a major story in both the press and the courts as the government searches for answers.</p>
<p>Matt Brittin, Google’s head of Northern European sales, was grilled during a hearing with MPs over the company’s tax status. Google has claimed that its taxes are fair, as the company’s UK-based sales were managed by employees in Ireland. Several MPs, however, believe that Google’s UK-based sales should be taxed as UK earnings.</p>
<p>It’s an understandable position – after all, Google’s sales were reportedly made from the United Kingdom, with only administrative ‘account closing’ efforts based outside the nation. As the United Kingdom is one of Google’s largest markets, a large scandal could have serious negative consequences for the search firm’s image.</p>
<p>Google’s famous motto – <i>“Do No Evil” –</i> was thrown on its head during recent court proceedings, as MPs declared that Google’s tax policy was evil. Google’s former top-ranked executive Eric Schmidt – currently serving as Google’s executive chairman – plans to meet with David Cameron as part of a technology advisory group.</p>
<p>Spokespeople claim that the meeting has been planned for several months, and that the company’s current tax issues are unlikely to be on the agenda. However, with an extremely large market potentially at stake, Schmidt may certainly see the value in capitalizing on the opportunity to speak directly with the Prime Minister.</p>
<p>Google isn’t the only company to have experienced corporate tax issues. Amazon, one of the world’s largest online retailers, is currently facing claims of tax evasion after a journalistic investigation revealed that many UK-based suppliers worked with the company’s Slough office, rather than its Luxembourg headquarters.</p>
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		<title>RBS Cuts 1,400 Jobs, HSBC Considering Bigger Job Cuts</title>
		<link>http://www.calculator.co.uk/3068/2013/05/rbs-cuts-1400-jobs-hsbc-considering-bigger-job-cuts/?utm_source=rss&amp;utm_medium=rss&amp;utm_campaign=rbs-cuts-1400-jobs-hsbc-considering-bigger-job-cuts</link>
		<comments>http://www.calculator.co.uk/3068/2013/05/rbs-cuts-1400-jobs-hsbc-considering-bigger-job-cuts/#comments</comments>
		<pubDate>Thu, 16 May 2013 12:28:59 +0000</pubDate>
		<dc:creator />
				<category><![CDATA[Banking]]></category>
		<category><![CDATA[Employment]]></category>
		<category><![CDATA[banking industry]]></category>
		<category><![CDATA[employment]]></category>
		<category><![CDATA[HSBC]]></category>
		<category><![CDATA[RBS]]></category>
		<category><![CDATA[Royal Bank of Scotland]]></category>

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		<description><![CDATA[Edinburgh-based Royal Bank of Scotland plans to axe over 1,400 jobs during its next round of layoffs. The troubled financial...]]></description>
				<content:encoded><![CDATA[<p>Edinburgh-based <i>Royal Bank of Scotland</i> plans to axe over 1,400 jobs during its next round of layoffs. The troubled financial services firm is currently 81 percent owned by taxpayers after it was bailed out at the peak of the 2008 financial crisis.</p>
<p>The job cuts are one of several major decisions aimed at returning RBS to health in order to sell the bank back to private investors. RBS has reduced its workforce over the last four years in order to limit expenses and return the bank to profitability.</p>
<p>David Cameron has weighed in on the bank’s decision to cut costs, stating that the end goal of the layoffs is to make RBS a viable private business once again. The jobs that have been removed were primarily administrative positions in RBS’s offices.</p>
<p>The bank plans to restructure its UK-based retail banking business and will slowly cut back its employment numbers over the next two years. The move is one part of RBS’s long-term plan to return to its pre-crisis financial position.</p>
<p>Despite its unique financial situation, RBS isn’t the only bank engaging in sizable layoffs. Global banking giant HSBC is considering cutting its workforce by 14,000 due to the increasing regulatory costs of operating its business in certain markets.</p>
<p>The large bank would focus heavily on Asian investments, aiming to earn more from a market that’s historically been it’s top performer. The East Asian banking giant has over 260,000 employees currently, making it one of the world’s largest banks.</p>
<p>Chief executive Stuart Gulliver claimed that the job cuts were one of several moves aimed at making HSBC more ‘ready to take advantage of growth opportunities. The bank recently reported earnings of $8.4 billion during the first quarter of 2013.</p>
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		<title>Petrol Price Investigation ‘Limp-Wristed’ and Insufficient</title>
		<link>http://www.calculator.co.uk/3066/2013/05/petrol-price-investigation-limp-wristed-and-insufficient/?utm_source=rss&amp;utm_medium=rss&amp;utm_campaign=petrol-price-investigation-limp-wristed-and-insufficient</link>
		<comments>http://www.calculator.co.uk/3066/2013/05/petrol-price-investigation-limp-wristed-and-insufficient/#comments</comments>
		<pubDate>Wed, 15 May 2013 15:49:43 +0000</pubDate>
		<dc:creator />
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[Energy]]></category>
		<category><![CDATA[bp]]></category>
		<category><![CDATA[oil]]></category>
		<category><![CDATA[petrol prices]]></category>
		<category><![CDATA[petrolgate]]></category>
		<category><![CDATA[shell]]></category>

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		<description><![CDATA[A recent inquiry into price fixing by major petrol companies such as BP and Shell has been called &#8216;limp-wristed and...]]></description>
				<content:encoded><![CDATA[<p>A recent inquiry into price fixing by major petrol companies such as <i>BP</i> and <i>Shell</i> has been called &#8216;limp-wristed and lettuce-like&#8217; by a Conservative MP. Robert Halfon, an MP for Harlow, claims that the government&#8217;s enquiry into petrol price fixing fails to live up to the standards expected by the British public, and that the enquiry should have been extended into a full year-long investigation.</p>
<p>Mr. Halfon claims that the potential for petrol price fixing is an issue that affects millions of people across the nation, and that if a conspiracy exists, the people responsible for it should serve time in prison for their involvement. Concerned at the lack of deep probing by the government, Halfon has claimed that the affair should be a &#8216;national scandal&#8217; and that the enquiry deserved more attention.</p>
<p>While Mr. Halfon stands out as a leading voice on the scandal, he&#8217;s certainly not the only MP to be concerned about the possibility of petrol price fixing. David Cameron has also commented on the issue, claiming that he would be &#8216;deeply concerned&#8217; if it came to light that petrol companies were artificially manipulating the price of oil in order to increase their profit margins.</p>
<p>Britain has faced rising fuel costs for over a decade, with the cost of petrol steadily increasing since the start of the millennium. Aside from a dip in price at the beginning of 2009, at which point petrol prices were at parity with their 2000 price, the cost of a litre of petrol has almost doubled since the year 2000. It&#8217;s a worrying trend with real financial repercussions for millions of British families.</p>
<p>As investigations continue into companies such as BP and Shell, the public – and the public sector – is bracing itself for a potential scandal. With the Libor banking scandal now out of the public eye, it appears that Petrolgate, as it&#8217;s being described on Twitter, could be the biggest business scandal of 2013.</p>
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		<title>Profits over people in the private sector</title>
		<link>http://www.calculator.co.uk/3062/2012/07/profits-over-people-in-the-private-sector/?utm_source=rss&amp;utm_medium=rss&amp;utm_campaign=profits-over-people-in-the-private-sector</link>
		<comments>http://www.calculator.co.uk/3062/2012/07/profits-over-people-in-the-private-sector/#comments</comments>
		<pubDate>Sat, 14 Jul 2012 03:06:05 +0000</pubDate>
		<dc:creator>Matt Fielding</dc:creator>
				<category><![CDATA[Legal]]></category>
		<category><![CDATA[featured]]></category>
		<category><![CDATA[Olympics]]></category>
		<category><![CDATA[pictures]]></category>
		<category><![CDATA[private sector]]></category>
		<category><![CDATA[public sector]]></category>
		<category><![CDATA[security]]></category>

		<guid isPermaLink="false">http://www.calculator.co.uk/?p=3062</guid>
		<description><![CDATA[Recently a rumor has been swirling around the UK that secretary of health Andrew Lansley wants to get rid of...]]></description>
				<content:encoded><![CDATA[<p>Recently a rumor has been swirling around the UK that secretary of health Andrew Lansley wants to get rid of the cap on the proportion of income that NHS institutions can earn. The cap currently sits at 49% which is seen to be a hindrance to the private sector in certain circumstances.</p>
<p>In the wake of such talk a debate has arisen as to the effectiveness and efficiency of the private sector. For most conservatives it is thought that the motivation of potential profits is enough to ensure that a private sector company does it&#8217;s job with passion and efficiency, however this has recently been shown to be a flawed outlook.</p>
<p>With the Olympics coming to London there has been a great rush of activity to ready the city for the festivities. One of the most recent developments, however, has not been a good one. Security at the international event, instead of being seen to by public sector workers, was contracted to a private sector company, G4S.</p>
<p>As a result of the recent failure of G4S to fulfill their obligations in regards to security, it is becoming quickly obvious to a great many people that the private sectors advantages are not with the safety of the people or the efficiency with which services are carried out, but with the large profit margin and reduced risk that comes with being a private government contractor.</p>
<p>When it comes to the private sector versus the public sector, the differences are quite clear as even now the public is being brought in to fix what G4S has so eloquently botched. Public services do not have the same luxury that private corporations do when it comes to struggling or even complete failure; they can opt out and start all over again but the public must endure with whatever hardships come.</p>
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		<title>Government reveals scheme to fund lending</title>
		<link>http://www.calculator.co.uk/3057/2012/07/government-reveals-scheme-to-fund-lending/?utm_source=rss&amp;utm_medium=rss&amp;utm_campaign=government-reveals-scheme-to-fund-lending</link>
		<comments>http://www.calculator.co.uk/3057/2012/07/government-reveals-scheme-to-fund-lending/#comments</comments>
		<pubDate>Fri, 13 Jul 2012 00:13:37 +0000</pubDate>
		<dc:creator>Matt Fielding</dc:creator>
				<category><![CDATA[Banking]]></category>
		<category><![CDATA[featured]]></category>
		<category><![CDATA[lending rates]]></category>
		<category><![CDATA[mortgage rates]]></category>
		<category><![CDATA[pictures]]></category>
		<category><![CDATA[Treasury bills]]></category>

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		<description><![CDATA[Government has revealed yet another plan to try to ignite the economy and have committed to providing £1 billion to...]]></description>
				<content:encoded><![CDATA[<p>Government has revealed yet another plan to try to ignite the economy and have committed to providing £1 billion to be used by lenders to help them lower the cost of lending to both households and firms. It is hoped that making this money, taxpayer backed funds, will trigger a growth in the economy.</p>
<p>This new lending scheme has been anticipated by banks and building societies in the UK because it will enable them to trade off debt or Treasury bills that are similar to cash. There will be a small fee involved but in all, this should help to lower their costs and in turn, the borrower’s cost as well.</p>
<p>When looking at this from a financial perspective, if a homebuyer has a deposit of 25% and is looking for a two year fixed rate mortgage, the savings would be at a rate of about almost 1%. At the moment, rates for this type of mortgage are averaged at 3.68% but with the lending scheme, those rates would probably be lowered to about 2.7%. Homebuyers with a 10% deposit should find a 1% reduction in mortgage rates down from 6% where they currently are to 5%.</p>
<p>The aim of government, according to the Chancellor, is to make loans and mortgages more affordable. Also, this should make them more available as lenders would be able to trade those troublesome loans for Treasury bills. Lenders will be rated quarterly and the results will be published. Information to be published will include how much volume each bank is doing and specific details of their lending schemes.</p>
<p>According to this new lending scheme, banks should be incentivised to increase their lending. The bottom line is that the more a bank lends, the lower their fees/rates will be. These rates will be guaranteed for up to four years and the scheme will commence on 1 August.</p>
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		<title>Austerity will probably last for decades</title>
		<link>http://www.calculator.co.uk/3052/2012/07/austerity-will-probably-last-for-decades/?utm_source=rss&amp;utm_medium=rss&amp;utm_campaign=austerity-will-probably-last-for-decades</link>
		<comments>http://www.calculator.co.uk/3052/2012/07/austerity-will-probably-last-for-decades/#comments</comments>
		<pubDate>Thu, 12 Jul 2012 23:26:50 +0000</pubDate>
		<dc:creator>Matt Fielding</dc:creator>
				<category><![CDATA[Debt Crisis]]></category>
		<category><![CDATA[austerity]]></category>
		<category><![CDATA[featured]]></category>
		<category><![CDATA[higher taxes]]></category>
		<category><![CDATA[increased cuts]]></category>
		<category><![CDATA[pictures]]></category>

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		<description><![CDATA[The population in the UK is ageing and as a result, cost of care is rising. The OBR states that...]]></description>
				<content:encoded><![CDATA[<p>The population in the UK is ageing and as a result, cost of care is rising. The OBR states that greater spending cuts will need to take place if the national debt is to be kept under control for the long term. The independent economic forecast group further states that at the rate Britons are ageing it will be impossible to keep up with the costs, in their words, “clearly unsustainable.”</p>
<p>They contend that if the government were able to save as much as £123 billion during the next seven years, the government would still need to raise taxes or increase spending cuts which would be equal to a little over 1pc of the GDP. In today’s market, that is equal to about £17 billion annually. It would take at least this amount to bring the national debt back to where it was before the debt crisis.</p>
<p>However, if these figures seem grim, consider the fact that the public sector net debt could decline from 74% of the GDP which is forecast for the 2016-17 fiscal year to perhaps 57pc in the middle part of the 2020’s and then by the early part of the 2060’s the public sector debt will reach a level unprecedented to 89pc of the GDP. As bad as that sounds, this is a far cry better than what had been projected last year where analysts said the public sector debt at that time would be as high as 107pc of the GDP.</p>
<p>Last year in his autumn statement, Osborne said that he believed austerity would need to be held over at least another two years but in reality, it will be several decades before the UK can lift itself out of debt.</p>
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		<title>Falling house prices indicate UK still mired in recession</title>
		<link>http://www.calculator.co.uk/3048/2012/07/falling-house-prices-indicate-uk-still-mired-in-recession/?utm_source=rss&amp;utm_medium=rss&amp;utm_campaign=falling-house-prices-indicate-uk-still-mired-in-recession</link>
		<comments>http://www.calculator.co.uk/3048/2012/07/falling-house-prices-indicate-uk-still-mired-in-recession/#comments</comments>
		<pubDate>Wed, 11 Jul 2012 07:09:36 +0000</pubDate>
		<dc:creator>Matt Fielding</dc:creator>
				<category><![CDATA[Housing]]></category>
		<category><![CDATA[economy]]></category>
		<category><![CDATA[featured]]></category>
		<category><![CDATA[house prices]]></category>
		<category><![CDATA[Jubilee]]></category>
		<category><![CDATA[Olympics]]></category>
		<category><![CDATA[recession]]></category>

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		<description><![CDATA[Although the Queen’s Diamond Jubilee brought a small burst of activity in the retail sector, house prices continue to fall....]]></description>
				<content:encoded><![CDATA[<p>Although the Queen’s Diamond Jubilee brought a small burst of activity in the retail sector, house prices continue to fall. This appears to be indicative of the fact that the UK is still deeply mired in the double dip recession which many forecast to ongoing for at least this year.</p>
<p>According to RICS, the Royal Institute of Chartered Surveyors, fewer homes are being put on the market and, in fact, the housing market remains fragile. Since there is still a great deal of consternation over the debt crisis in the EU, the market will probably continue to be sluggish. As well, since the stamp duty holiday ended a few months back fewer people have been looking for homes.</p>
<p>The chief economist for RICS has been quoted as saying that the market didn’t turn around in the previous month and activity has remained slow. Approximately 66% of the surveyors stated that prices are not picking up and about one-fifth of surveyors reported that prices are actually dropping instead of rising.</p>
<p>Surveyors are also not optimistic for the coming year. During the month of May, 8pc of surveyors questioned felt that there would be a drop in prices over the next year but when questioned in June, 19pc responded that prices will continue to fall.</p>
<p>At the moment it is hoped that something will be done for first-time buyers to make purchasing a home easier to accomplish. Until the economy picks up again, it will probably take some form of incentive to boost sales of homes.</p>
<p>The news isn’t totally bad however as retail sales have picked up a bit due to the Jubilee and with the upcoming Olympic Games. The next few months should also see a wider profit margin as well. Even so, this rise in retail will most likely not be enough to lift the UK out of recession.</p>
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		<title>Outlook for global economy weaker than expected</title>
		<link>http://www.calculator.co.uk/3042/2012/07/outlook-for-global-economy-weaker-than-expected/?utm_source=rss&amp;utm_medium=rss&amp;utm_campaign=outlook-for-global-economy-weaker-than-expected</link>
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		<pubDate>Sat, 07 Jul 2012 13:21:02 +0000</pubDate>
		<dc:creator>Matt Fielding</dc:creator>
				<category><![CDATA[Debt Crisis]]></category>
		<category><![CDATA[Christine Lagarde]]></category>
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		<category><![CDATA[global economies]]></category>
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		<description><![CDATA[In a recent speech given in Tokyo, the head of the IMF stated that the outlook for the global economy...]]></description>
				<content:encoded><![CDATA[<p>In a recent speech given in Tokyo, the head of the IMF stated that the outlook for the global economy is worse than expected. Christine Lagarde said that the state of affairs around the world is bleak and has extended well beyond the current crisis in the eurozone.</p>
<p>Not only did jobs in the United States not grow as expected, large emerging markets such as China have slowed as well. It had been forecast by the IMF back in April that 2012 would see a growth of 3.5pc whilst 2013 was projected to be at a growth rate of 3.1pc.</p>
<p>Unfortunately, within the past two months many global economies have stalled or deteriorated and as stated, United States and Chinese jobs creation has not met up with expectations. Within the next week or two the IMF is expected to release an assessment of growth which will have been updated to reflect these unexpected slowdowns.</p>
<p>Part of the basis for a reassessment is in the fact that US jobs only grew by 80,000 last month as opposed to the 90,000 which had been projected. Although it was higher than the previous month’s creation of 77,000 jobs, it is much lower than had been anticipated. When large global economies do not produce as projected, this has a dire impact on economies around the world.</p>
<p>Given the fact that this is much lower than the pre-crisis average of monthly growth, it is believed that the US Federal Reserve will implement another stimulus package to try to give the economy there a boost. It appears as though an unexpected rise in jobs earlier in the year gave false hopes and now these new fears are rippling through global economies, especially in the UK and the eurozone.</p>
<p>With Germany standing strong against further help for the troubled EU and confidence down, it appears as though worries for the global economy are well founded. Spain and Italy are the two countries which are currently causing a great deal of concern in the eurozone and France is right there amongst them. Even Germany’s bond yields have turned negative which will probably also be reflected in the IMF’s updated assessment.</p>
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