This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/7321948.stm
The article has changed 4 times. There is an RSS feed of changes available.
| Version 2 | Version 3 |
|---|---|
| 10,000 finance job cuts forecast | 10,000 finance job cuts forecast |
| (1 day later) | |
| At least 10,000 jobs could be lost in the UK's financial services industry during the next three months, according to a forecast by the CBI. | At least 10,000 jobs could be lost in the UK's financial services industry during the next three months, according to a forecast by the CBI. |
| The employers' organisation's quarterly survey of the sector found that most companies thought the credit squeeze would get worse in the next six months. | The employers' organisation's quarterly survey of the sector found that most companies thought the credit squeeze would get worse in the next six months. |
| CBI chief economist Ian McCafferty said: "This is a very serious crisis." | CBI chief economist Ian McCafferty said: "This is a very serious crisis." |
| The report predicts that the UK will avoid outright recession, but says that finance jobs are already being cut. | The report predicts that the UK will avoid outright recession, but says that finance jobs are already being cut. |
| Key characteristics | Key characteristics |
| Some have suggested it's the worst financial crisis since the Second World War Ian McCafferty. chief economist, CBI City fears jobs losses | Some have suggested it's the worst financial crisis since the Second World War Ian McCafferty. chief economist, CBI City fears jobs losses |
| Conditions in the financial sector - which includes banks, building societies and insurance companies - have not improved since the credit crunch began six months ago, Mr McCafferty said. | Conditions in the financial sector - which includes banks, building societies and insurance companies - have not improved since the credit crunch began six months ago, Mr McCafferty said. |
| "Some have suggested it's the worst financial crisis since the Second World War," he added. | "Some have suggested it's the worst financial crisis since the Second World War," he added. |
| "I think one of the key characteristics is that it will go on for quite some time to come." | "I think one of the key characteristics is that it will go on for quite some time to come." |
| The financial crisis, which began after banks made huge losses on investments backed by US mortgages, has caused chaos on US and global markets. | The financial crisis, which began after banks made huge losses on investments backed by US mortgages, has caused chaos on US and global markets. |