onths ers & ers
1. Europe A series of bail-outs for crippled eurozone economies, accompanied by promises of austerity, have as yet failed to convince global investors that monetary union can survive its first major hurdle since it was created more than a decade ago.
With China, so far, reluctant about committing cash to the European Financial Stability Facility and no sovereign wealth fund as yet having stepped forward as a buyer of the bonds of the most indebted members of the euro things are looking bleak. Whilst it appears that we will see the likes of Greece leaving the eurozone and returning to the Drachma during 2012, what for the likes of Italy,
Spain and indeed France who are appearing increasingly exposed.
2. Trade Unions The prime minister described Novembers ‘super-strike’ as a “damp squid” as many of the 2 million public sector workers expected to strike simply didn’t. The economy may have taken up to a £500 million pound hit but unless you had children who were turned away from school then you may be forgiven for even realizing a strike was going on.
A Sunday Times poll just prior to the strike showed that despite claims by the Union’s of widespread support, the opposite was in fact true with over half of those polled ‘opposing’ head teachers, teachers and civil servants striking. The poll also found that half of those questioned support the introduction of new laws to ban strikes unless 50% of all members voting in favour, as opposed to 50% of those voting- a slap in the face for over-zealous trade unions such
as Unison who saw only 29% of their members vote in favour of strike action.
3. Ticketmaster Added charges on online purchases, be it flights or concert tickets are a continual source of frustration. So, good news at last, if you’ve ever used Ticketmaster, there’s at least $1.50 worth of overdue justice heading to you. Business Insider has reported that Ticketmaster has buckled in the face of a proposed class-action lawsuit brought by customers who made Ticketmaster purchases between Oct. 21, 1999, and Oct. 19, 2011. Under the settlement agreement, which is still being thrashed out, Ticketmaster has acknowledged that its processing fees were indeed deceptive because they had failed to clearly state that they went beyond covering costs of administration and that Ticketmaster was in fact profiting from them.
Whilst details still need to be finalized it is expected that customers will be able to apply for a credit of $1.50 for each purchase up to a maximum of 17 tickets. Loyal Ticketmaster customers may now have a whopping $25.50 to spend on their next purchase.
13 entrepreneurcountry
ghlights of Global urship Week 2011
Global
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