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Showing posts with the label Financial sector

The share price rises by 15% as thousands of people could loose their jobs.

http://www.theguardian.com/business/2015/jan/08/tesco-chief-unveils-dramatic-shake-up-troubled-supermarket Almost 100 stores to close What a sick and nasty world the speculators create and live in. On the announcement that nearly 100 Tesco stores will be closed, Head Office will be "relocated" , the employee pension scheme will be axed and that thousands of people will loose their jobs, the share price increases by 15%. The financial "markets" make "loads a money" at the expense of peoples lives. I have little sympathy for Tesco. My criticism is of the speculators making money from the share price increase as a result of people losing their jobs. As usual it is the employees who pay the price of management ineptitude and in the case of Tesco, boardroom practices which probably verge on illegality. Personally, I never shop in Tesco for three main reasons. The price of their produce is too high. The quality of their goods is  in many cases ...

All is not well in the Jersey financial sector.

http://www.bbc.co.uk/news/world-europe-jersey-19807490 To what lengths will certain organisations in the Jersey financial sector go, to conceal the reality of  their business performance? No matter what the newspaper articles or the television reports may say, the position of a number of organisations in the financial industry is less than stable. Over the last few months, a significant number of employees in the banking and finance sector have joined the ranks of the unemployed in Jersey. In times of the financial and employment crisis in economies around the globe, this in itself is not particularly surprising. The difference however in the case of Jersey, is that these redundancies are un reported and shrouded in secrecy. In order to avoid a "crisis of confidence" in Jersey Finance companies, employees have accepted redundancy packages for termination of their jobs which has included an additional cash premium in exchange for their solemn agreement to mainta...