The Legal and General is reporting that economic indicators are flagging up a 95 percent chance of economic slowdown and subsequent recession.
According to an analyst at the company these indicators are even more pronounced than in 2001, the last time the UK economy fell upon hard times. This time the country is even more reliant on borrowing and the criteria for lending money is tighter than before. It has also been said that, even if access to credit becomes easier the startlingly fast rise in the price of fuel will keep the pressure on consumers and the economy.
The Legal and General analysts are factoring in the global slowdown that is needed, saying that countries such as the UK and USA will be hardest hit. All in all these look like trying times for the economy and consumers.
The Alliance and Leicester claims that the majority of entrepreneurs that do well are the first born child and have at least one brother or sister.
Having spoken to business owners across the country the Alliance and Leicester found that 60 percent of them were the eldest child in the family, with 85 percent of them having younger siblings. This suggested that they could have developed their teamwork and leadership skills.
Other personal traits that are the sign of a successful entrepreneur include dependability, consideration and being a good listener. The Alliance and Leicester also found that state education works well for the entrepreneur, with over 70 percent having a regular state education.
One of the largest banks in Japan, Sumitomo Mitsui Financial Group, is considering buying into Barclays Bank as they seek to raise GBP4 billion capital.
Sumitomo Mitsui is considering a 100 billion Yen investment, which would be around GBP500 million. Barclays also have serious interest from some other investors too and if everything goes as planned then the GBP4 billion needed will be achieved with money to spare.
An announcement is expected from Barclays Bank in the next week or so, though existing Barclays investors have to give their final approval before the deals can go ahead. Sumitomo Mitsui are certainly very keen on the deal since they have been finding it difficult to locate good investment opportunities in China.
