Tag Archives: business

Daily Headline – 12/05/13

Conservative Lord Young: exploit cheap labour

Lord YoungThe prime minister’s adviser on enterprise Lord Young has told the cabinet that the economic downturn is an excellent time for new businesses to boost profits and grow because labour is cheap.

Instead of trying to improve conditions for workers the ruling coalition is focusing on the positive side to recession, cheap labour and as we all know, cheap labour is good for business and good for profits.

If ever there was a clear sign of the governments callous attitude towards the working class and their lust for profits over people here it is.
Only business owners should be voting for the coalition, anyone else is voting against their own interests.

Conservative = Scum

Daily Headline – 22/04/13

Capitalism and health, a recipe for disaster

Glaxosmithkline logoThere have been many examples over the years and known facts about the operations of pharmaceutical companies so for those who are aware the latest news about Glaxo will come as no surprise at all.

GlaxoSmithKline (GSK) the pharmaceutical giant is in trouble with the Office of Fair Trading (OFT) over paying rival companies to delay the release of new medicines.

Of course the OFT is focusing on its job which is to ensure fair competition which of course is one issue (and one that free market capitalism is not able to resolve, government regulations are vital to ensure, under a capitalism system that competition can thrive).

The second issue and one that too often gets ignored is that businesses like these are deliberately withholding life saving medicines in order to maximise the profitability and lifespan of their old medicines.

How is this travesty of justice not made illegal? How are business allowed to have control of something of such vital importance? If capitalism cannot work in the interests of the people then it shouldn’t be operating at all!

In the short term, bring the pharmaceutical companies under public control, in the long term, abolish capitalism.

For more on the details of this story click here.

Daily Headline – 17/04/13

Corporations to continue stifling free speech

No free speechThe House of Lords amendment to the UK’s ‘defamation bill’ has been removed by the Conservatives in the House of Commons.

The bill would have prevented large companies ranging from McDonald’s to Tesco from suing their critics unless they could prove financial losses.

The Tories (Conservatives) won the vote 298 to 230 showing that it is not just Thatcher that was divisive but rather that it is being a Conservative that is divisive.

The Tories will always put big business before the people.

Daily Headline – 08/04/13

Is China lined up for economic collapse?

Chinese finance flagAs the developed world is still suffering from the 2007 global economic crisis with austerity the weapon of choice by the ruling elite around the world is China, who though has not been immune to the global effects as demand for Chinese manufacturing declined slightly as belts were tightened, lining itself up for the same?

Chinese banks have long been ‘cooking the books’ and it’s getting worse, credit for loans is available to those with bad credit on an unprecedented scale in China. Just the same as was in the US that kicked off the global recession.

The problem is not just how much risk there is in the Chinese banking sector but ‘risky loans’ being shifted to the lightly regulated ‘shadow banking’ institutions – mainly trust companies, brokerages and insurance companies.

According to Reuters:
Trust assets increased 55 percent in 2012 to 7.5 trillion yuan ($1.21 trillion), according to the China Trustee Association, while funds entrusted to brokerages by banks soared more than fivefold to 1.61 trillion yuan.

Capitalism doesn’t work, western capitalism or Chinese capitalism, it doesn’t matter. Banking, finance and ‘the markets’ are always a catastrophe waiting to happen.

Daily Headline – 05/04/13

HBOS bank execs ran company to collapse

HBOS logoA report entitled ‘An Accident Waiting to Happen’ HBOS (Halifax & Bank of Scotland) bosses have been found to be incompetent and guilty of colossal mismanagement that led to the near collapse of the company that was rescued by Lloyds in 2008/2009.

The report went on to say that even had there not been a global economic crisis the company would have still collapsed such was the ineptitude of the three executives running the company.

HBOS is/was the largest lender of UK mortgages.

The government expects the working class to be responsible but what about the ruling elite?! Where is their punishment and condemnation? Jeopardising people’s savings and homes with absolutely no regard to them at all. Disgraceful.

For more details click here.

Daily Headline – 23/03/13

UK outlook ‘negative’

British austerity flagCredit rating agency Fitch has changed the UK’s outlook to negative, setting up a future downgrade.

The Conservatives came to power on the grounds of reducing public debt…

“Fitch said Britain’s lack of growth and growing debt mountain meant there was a “heightened probability of a downgrade in the near term”.”

Failed again tories!

Instead the Conservative/Liberal coalition has blindly followed ideologically driven policies that have no possibility of working out for the country.

Not that they care of course! Their policies are aimed, as they always have been, at making the rich wealthier and the poor poorer.

“Chris Leslie, Labour’s shadow Treasury minister, said: “This is yet another blow to a downgraded chancellor who made keeping the confidence of the credit rating agencies the number one test of his economic policy. What really matters are the economic realities which Fitch are responding to including, as their statement says, ‘the persistently weak performance of UK growth’.””

Indeed Chris but don’t forget it was your party that got us into this mess!

If you are going to go down the party politics route then the top four parties (Con, Lab, Lib, UKIP) can be instantly dismissed.
Though real change is not with party politics, it’s with the people, it’s with dissent.

Daily Headline – 19/03/13

Banks, the corporate world can’t be trusted

Hongkong and Shanghai Bullshit Corporation

Hongkong and Shanghai Bullshit Corporation

More evidence has come to light over HSBC’s money laundering and tax evasion facility.

As early as 2003 it has been known to authorities that, to put it politely, HSBC has been lax on anti-money laundering practices. Failure by the banking giant to do anything about it led to regulations being tightened in 2003 and then again in 2010.

Still HSBC continued ignoring the law and clearly having no ethics or morality.

In 2012 HSBC set up offshore accounts for drug-dealers and other criminals. Also in 2012 HSBC was fined $1.9 billion USD for ignoring US money laundering laws.

Now in 2013 HSBC comes under fresh accusations from Argentina stating that they are using fake receipts to facilitate money laundering and tax evasion to the sum of £50m

HSBC said that it would cooperate with the investigation, adding that the allegations were “of great concern”
Yeah, a great concern that you got caught again!