Thousands of workers and their families are expected to march on Teesside later in protest over the looming closure of a Corus plant in Redcar. The steelmaker has warned it may have to close the plant because a consortium of customers has withdrawn from a 10-year contract to buy its steel.
Unions say the closure will result in the loss of 2,000 jobs at the plant, as well as another 1,000 jobs elsewhere.
The dominoes of the Steel Industry that I mentioned earlier continue to fall....HARD!
Quant....I too saw the news from the HBF, however until the banks start widespread lending again its pretty meaningless. They can build all the houses they want but if there's no way for people to finance them then whats the point. According to the bloke who represents the banks that was on BBC breakfast, they're lending an additional £7bn a month but they're very reluctant to lend to anyone that they feel may not be able to meet the repayments.......Have the banks found their morals or is this just another excuse not to use the £billions of taxpayers money to start the market moving again????
2W2R
