City job cuts could cost the Government more than £1.3bn in lost tax revenue as investment banks draw up plans to cut thousands of staff after the summer break. Democrats and Republicans remained deadlocked on Saturday night over whether and how to raise the US debt ceiling – with just two days to go before Tuesday's critical deadline which could see the US default on its debt obligations. UK households are suffering a tighter squeeze on disposable incomes than either the US or the rest of Europe, due largely to the weakness of sterling. Lansdowne Partners, Europe's biggest hedge fund, has sold its entire $850m (£517m) position in Goldman Sachs in a move that underlines growing concerns about the prospects for the global banking sector. High street banks are being accused of asking perfectly sound small businesses to leave them so they can free up capital to take on new customers to meet the Government's small business banking targets.City job cuts to cost the UK Government £1.3bn in lost tax
US debt deal talks in deadlock
UK households squeezed harder than US
Lansdowne Partners sells Goldman stake
Banks 'ask customers to leave' to hit targets
Sunday, 31 July 2011
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