Posts Tagged ‘Public Sector Jobs’

300,000 UK Public Sector Jobs Face Axe; No Sacred Cows Including Quangos; What the Hell are Quangos?

300,000 UK Public Sector Jobs Face Axe; No Sacred Cows Including Quangos; What the Hell are Quangos?

Courtesy of Mish 

India To Be World's Most Populous Country Within 20 Years

Cheers to Austerity in the UK. Here is something the US needs to see twentyfold minimum: 300,000 jobs in public sector face the axe

AT least 300,000 Whitehall and other public sector workers may lose their jobs as the coalition government sets to work cutting the £156 billion budget deficit.

As George Osborne, the chancellor, prepares to unveil the first £6 billion of cuts tomorrow, the full scale of the job losses that will follow has begun to emerge.

The initial savings to be announced will target such items as civil servants’ perks, which include taxis, flights and hotel accommodation.

The package will also include a £513m cut in the budgets for quangos, with some being abolished altogether.

“The outgoing chief secretary [Liam Byrne] said it all, there is no money,” said a Treasury source. “There is no time either.”

Some estimates suggest that the number of job losses could reach 700,000. These will include tens of thousands of health service managers as well as many thousands of doctors and nurses, according to internal documents from the National Health Service.

Three out of the 10 strategic health authorities have disclosed that they will reduce their headcounts by a total of 30,132, an average of 8.7%. If these cuts were replicated nationwide, the total job losses would amount to 120,000.

A similar analysis of 75 local authorities suggests that at least 100,000 council workers across the country will lose their jobs.

Thousands of police officers and their civilian support staff will lose their posts, with the Metropolitan police alone forecasting 445 job cuts.

About 20,000 jobs will be lost at the Ministry of Defence as the department faces a demand to reduce its administrative costs by 25%. Ministry insiders say the cuts are set to hit military personnel, including some frontline soldiers.

Ministers have tried to insist that any public sector job losses would be mainly among the “penpushing” bureaucrats, but answers received under freedom of information requests suggest that a wide variety of different professions will be hit.

No Sacred Cows 

The Times Online also stipulates No sacred cows as the cuts begin

Tomorrow George Osborne, the chancellor, will announce £6 billion of Whitehall efficiency savings, a taster for the draconian cuts


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Zero Hedge

US Foreclosures Rise For First Time In 36 Months

Courtesy of ZeroHedge. View original post here.

One month ago we discussed why according to the recent data, the "Housing Market Headed For "Broadest Slowdown In Years." Fast forward to today, when we received the latest confirmation that the US housing market appears to have recently hit a downward inflection point: according to the just released July 2018 U.S. Foreclosure Market Report released by ATTOM Data Solutions, foreclosure starts in July increased by 1% from a y...



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Phil's Favorites

Saudi showdown spotlights Canada's energy insecurity

 

Saudi showdown spotlights Canada's energy insecurity

Khalid Al-Falih Minister of Energy, Industry and Mineral Resources of Saudi Arabia, has said the diplomatic dispute won’t affect oil exports to Canada. (AP Photo/Ronald Zak, File)

Courtesy of Larry Hughes, Dalhousie University

In mid-August, Khalid al-Falih, Saudi Arabia’s energy minister, announced that the diplomatic rift with Canada wouldn’t affect the flow of Saudi crude oil to the Irving refinery in Saint John, N.B.

There are at least two reasons why this decision should ...



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ValueWalk

Whitney Tilson:Tesla Should Raise Money Now

By Jacob Wolinsky. Originally published at ValueWalk.

Excerpted from Whitney Tilson’s latest email to investors

1) As part of our seminar on How to Launch and Build an Investment Fund, we teach an in-depth module on how to create a first-class, compelling investor pitch deck, using multiple real-world examples (as we do with everything we teach). The first example is my own deck, which I think was at best a B – decent but a lot of room for improvement, as I discussed in our webinar earlier this month – here’s the video of it: https://player.vimeo.com/video/285653427 (8 min).

Pease use “VW10” for a discount!

If you find what we’...



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Digital Currencies

Stop worrying about how much energy bitcoin uses

 

Picture via Pixabay

Stop worrying about how much energy bitcoin uses

Courtesy of Katrina Kelly-Pitou, University of Pittsburgh

The word “bitcoin” is as likely to garner feverish excitement as it is glaring criticism. The financial community sees speculative promise in the form of trade that currently has little to no regulation. Meanwhile, others argue that it’s a distraction that detracts from the overall longevity of U.S. financial institutions.

Bitcoin’s energy consumption has become a recent talking point in the debate. ...



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Kimble Charting Solutions

Doc Copper down 20%, sending a macro message?

Courtesy of Chris Kimble.

CLICK ON CHART TO ENLARGE

Doc Copper has had a rough go of it over the past 7-years and especially of late.

Since the highs back in 2011, Doc Copper has created a series of lower highs and lower lows.

Since the lows in 2015, it has experienced a strong rally, creating a series of higher lows, as interest rates and several commodities did the same.

In June Doc Copper may have created a double top at (1), as it was testing last years highs. Since hitting 2017 highs at (1), Doc Copper has declined nearly 20% in the past 10-weeks.

The decline now has it testing potential dual support at (2...



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Insider Scoop

Goldman Sachs: Newly Public Aurora Mobile Set To Gain Market Share

Courtesy of Benzinga.

Related 28 Stocks Moving In Monday's Mid-Day Session Benzinga's Top Upgrades, Downgrades For August 20, 2018 ...

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Biotech

Approval of first 'RNA interference' drug - why the excitement?

Reminder: Pharmboy is available to chat with Members, comments are found below each post.

 

Approval of first ‘RNA interference’ drug – why the excitement?

Single strands of ribonucleic acid (RNA) are now being used to treat disease. By nobeastsofierce / shutterstock.com

Courtesy of Thomas Schmittgen, University of Florida

Small interfering RNA sounds like something from a science fiction novel rather than a revolutionary type of medicine. But this odd-sounding new drug of...



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Chart School

Weekly Market Recap Aug 19, 2018

Courtesy of Blain.

A good amount of volatility this past week, but once again indexes are just sort of hanging around as we work through some news items, specifically facing trade issues.  We ended last week with some hand wringing over Turkey – while nothing was really resolved, U.S. markets looked past that… however emerging markets continue their struggle.  The U.S. indexes have simply been range bound for weeks on end.

The Turkish central bank pledged in a statement Monday to provide “all the liquidity the banks need.” It also said banks would be able to borrow foreign-exchange deposits from the central bank at one-month and one-week maturities. Analysts said T...



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Members' Corner

There Are 3 Main Theories That Explain Trump's Approach to Putin and Russia-Which One Makes the Most Sense?

What do you think?

Thom Hartmann suggests that the "Manchurian Candidate theory" is the least likely explanation for Trump's pro-Russia behavior in "There Are 3 Main Theories That Explain Trump’s Approach to Putin and Russia—Which One Makes the Most Sense?" (below).  disagrees and suggests that Putin probably has "the goods" on Trump in "Trump’s Plot Against America". (To be fair, Hartmann acknowledges that his three theories are not mutually exclusive.) Jonathan Chait argues ...



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Mapping The Market

Mistakes were Made. (And, Yes, by Me.)

Via Jean-Luc:

Famed investor reflecting on his mistakes:

Mistakes were Made. (And, Yes, by Me.)

One that stands out for me:

Instead of focusing on how value factors in general did in identifying attractive stocks, I rushed to proclaim price-to-sales the winner. That was, until it wasn’t. I guess there’s a reason for the proclamation “The king is dead, long live the king” when a monarchy changes hands. As we continued to update the book, price-to-sales was no longer the “best” single value factor, replaced by others, depending upon the time frames examined. I had also become a lot more sophisticated in my analysis—thanks to criticism of my earlier work—and realized that everything, including factors, moves in and out of favor, depending upon the market environment. I also realized...



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OpTrader

Swing trading portfolio - week of September 11th, 2017

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Promotions

Free eBook - "My Top Strategies for 2017"

 

 

Here's a free ebook for you to check out! 

Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

This chapter isn’t about risk or leverage. Phil present a few smart, practical ideas you can use as a hedge against inflation as well as hedging strategies designed to assist you in staying ahead of the markets.

Some other great content in this free eBook includes:

 

·       How 2017 Will Affect Oil, the US Dollar and the European Union

...

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All About Trends

Mid-Day Update

Reminder: Harlan is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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