News digest 25 January 2013

News digest 25 January 2013

25 January 2013

The top story today is the march towards the triple dip recession. GDP data published this morning showed that the UK economy contracted by 0.3 per cent in the last quarter, a fall in the next quarter could see the UK economy enter a triple dip recession. The data comes after deputy prime minster Nick Clegg questioned the Con-Dem coalition’s cuts saying that the government had cut too far and too fast. Unite general secretary, Len McCluskey called again for the government to change course: "This is now an urgent question of acting in the national interest. This government has been exposed as failures and fraudsters, and firmly responsible for the continued ruination of our economy. In the past 24 hours alone, George Osborne’s one-gear cuts only policy has been demolished. The IMF’s call for him to cease his austerity obsession, the disastrous GDP figures and now his own deputy prime minister’s admission that it was wrong to shrink spending in the teeth of a global recession all tell the same story: you have got it seriously wrong.” The message is simple, time to end austerity and invest in a strategy for growth.

There was one chink of light in the attack on tax avoiders as the prime minister David Cameron yesterday said that tax dodgers should ‘wake up and smell the coffee’ with Cameron pledging a global crackdown. Whether it becomes a reality is another question, but the Telegraph reports that business is questioning his tax plans.

But what Cameron really needs to crack down on is the unfettered capitalism and rapacious companies that suck all the profits for an elite and treat their workers with disdain. One example of a corporate gone wrong is cake maker Greencore which is trying to cut its workers already low wages even further – workers are facing a drop of £40 a week when inflation and other costs are rising – and all to fund more lolly for the bosses of a company that generated profits of £70 million last year alone. The workers will take strike action next week.

And also taking action are people marching against threatened cuts to hospital services in south London. Hundreds of Lewisham residents are expected to protest tomorrow against proposals to shut the A&E and maternity departments at Lewisham hospital. The closure is another broken promise from the Con-Dem coalition and warns that the axe is falling heaviest on A&E services in some of the most deprived communities. And that axe is hovering across the country so get out and take action to help save our NHS

 Morning Star

 Daily Mirror




 Times (no links all stories behind paywall)

  • Women troops on march towards frontline combat (p1/6-7)
  • Voters want Britain to quit EU, [53-47] poll shows (p1)
  • Free schools get head start to start up in offices, theatres and shops (p9)
  • Police under suspicion as crime figures show big fall (p13)
  • [Insulation industry] workers left in cold after British Gas pulls green plan (p35)
  • JLR sales lift off but profits wobble (p39)
  • Blow to Punch as Greggs gobbles chief (p39)
  • Pay gap widens for women on board (p40)
  • Thames airport ‘risky’ for investors (p41)
  • easyJet soars (p41)
  • Nokia abandons payout (p43)




 FT (no links all stories behind paywall)

  • Libor heat rises for Barclays (p1)
  • Coalition to pledge £1.5 billion for childcare (p1)
  • Osborne to persist with austerity push (p2)
  • Fall in crime figures spurs questions on accuracy (p2)
  • Retailers press for action on tax avoidance (p3)
  • Warning on £30 billion cost of new airport (p4)
  • Sony fined for data breach (p4)
  • Cameron’s EU speech was a big leap into the unknown – Paul Goodman (p11)
  • Banks fears rise over ECB funds (p15)
  • Blow to Punch as chief goes to Greggs (p16)
  • Apple falls victim to own success (p17)
  • Jaguar profit warning (p19)
  • Nokia cancels dividend (p19)
  • Chemring profits drop 78 per cent (p20)
  • Wonga to expand overseas (p21)
  • easyJet buoyed (p21)

 Edited by Mik Sabiers

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