asterisk2a + debt-fuelled   2

STEPHANIE FLANDERS: It's borrowing and debt driving Britain's recovery | This is Money
New forecasts that went with his speech paint a different picture, of a recovery driven in large part by households borrowing more, and saving less. The level of household debt, relative to income, has been falling since the crisis, as families have cut back and worked to pay off debt. But the new Budget forecasts show it starting to rise again, from the final quarter of this year, moving from 142 per cent of income back up to 166 per cent by 2019. That’s more or less where household debt had got to in the lead up to the financial crisis, after all that irresponsible ‘debt fuelled growth’ under Gordon Brown. [...]And total level of investment is now more than 20 per cent below where it was at the start of 2008. // &! bit.ly/1IxXKax - low inflation, no inflation pressures expected till 2016 // &! bit.ly/1DepsJ2 - The UK has the most unbalanced economy of any OECD country.
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july 2015 by asterisk2a
Royal Dutch Shell cuts 6,500 jobs - BBC News
Oil giant Royal Dutch Shell has announced it has shed 6,500 jobs as part of cost-cutting plans as it seeks to counter falling oil prices. // &! bbc.in/1OPYI2I - British Gas owner Centrica cuts 6,000 jobs [...] However, the strong performance at British Gas was offset by a collapse in profits at Centrica's oil and gas production division. Profits in this unit fell 78% to £116m as a result of lower oil prices. [...] Centrica appointed Iain Conn as chief executive at the start of this year. He has been conducting a strategic review of the business over the past five months, which has concluded Centrica should concentrate on the British Gas side of the business and reduce its activities in actual energy production, which takes major investment. That is a less attractive business currently, as raw energy costs, such as oil, are around $50-60 a barrel, half the levels of last year. Centrica said it was assuming the oil price would not move far from that for the foreseeable future.
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july 2015 by asterisk2a

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