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Julianna Willis Technology

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CMC - NEWS

UK banks will face tougher regulation and consumers will get more protection, under reforms to the financial system proposed by the chancellor.


Alistair Darling said the Financial Services Authority (FSA) would have more powers to deal with risk-taking in banks and penalise misconduct.

The current scheme to compensate savers would be improved, he added.

Shadow chancellor George Osborne said the reforms were "a totally inadequate response" to the financial crisis.

Mr Osborne also called for more powers for the Bank of England.

Consumer protection

Mr Darling said the financial system needs to ensure robust regulation, and banks and financial institutions should be better managed.

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THE VIEW FROM BRISTOL


Dave Harvey

Dave Harvey, BBC business correspondent in the West of England.


Everyone has their own dipsticks for spotting the recovery. Mine is inexplicable optimism on the High Street.


And on my walk to work at the BBC in Bristol there are two new delicate shoots poking through the hard soil of the retail allotment.


Whiteladies Road is pockmarked with boarded up shops, restaurants, estate agents and mortgage brokers. But two down from Woolies, a new restaurant opens.


BBC tracks growing optimism among small firms

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Worst of the recession 'is over'


The worst of the UK's recession is over, according to the British Chambers of Commerce (BCC) business group, but talk of a recovery is premature.

Its report, based on a survey of 5,600 companies, found there had been "welcome progress" in confidence levels between April and June.

But the BCC still expects unemployment to reach 3.2 million by 2010.

However, official data showed that manufacturing output fell 0.5% in May. Analysts had forecast a rise of 0.2%.

The Office for National Statistics (ONS) said the monthly fall was driven by a 2% decline in the paper, printing and publishing industries.

Industrial production, a wider measure which includes energy supply, mining and oil and gas as well as manufacturing, fell 0.6% against forecasts of a rise of 0.2%.

Economists say the surprise contraction now makes it less likely that the economy returned to growth in the second quarter.

Michael J. Lotito: The Employment Law Revolution


5 Ways to Protect Yourself During Layoffs

Implementing structured hiring, training and review processes can prevent a lawsuit.

By Michael J. Lotito   |   July 06, 2009

With unemployment at a quarter-century high and uncertainty one of the few constants in today’s economy, companies across the country face the possibility--or the reality--of layoffs.

Terminating employees either for cause or financial reasons is a difficult task often exacerbated by the specter of legal liability. There are, however, a number of preventive measures employers can take well before it becomes necessary to dismiss an employee--and before deciding to hire a job applicant--that both enhance employee performance and better enable the organization to make rational business decisions when problems arise.

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