[2024]Digital Global Overview Report 2024 Meltwater.pdf
Feb Economic Report
1. ECONOMIC UPDATE
Economic and
Market Overview
as at February 1st 2010
Are you using
Teamwork to
beat the
recession?
Chatting with the many business leaders harder and harder over longer and
I meet the talk is always of how they longer hours. This is not about effort.
are looking to beat the recession, either My challenge is; are they working
through ‘hunkering down’, finding new “Smart”? awareness of the 5 questions (for
markets or reducing costs. Nobody can themselves and their colleagues) to the
deny the harsh realities that have come The opportunity is to harness the power benefit of the organisation.
with falling demand resulting in of teamwork and the quality of
approaches that seek to minimise the collaboration within an organisation. In The bottom line of this is the basic
impact of recessionary conditions on our studies of high performing human condition of “if we spend time
shareholder returns. Sadly too this has organisations the first common thread together we will build more
been a euphemism for Voluntary is the realisation that high performing understanding.” The more we
Redundancy and operational budget teams are continually nurtured rather understand, the higher is the potential
reductions. But what if you could find than “built”. Nurturing is seen as a of giving each other greater support
a way of actually achieving more with continuous process where the elements and more effective challenge. So are
less resources? of great team work are husbanded. we saying that we should all go to the
pub and all will be fine? Not exactly…I
What strikes me in almost every case Individuals in high performing am suggesting you challenge how you
is the obvious question “are you getting organisations can always answer 5 key
foster and improve the levels of trust
the most out of how your teams work questions:
and how they work together?” The between individuals within teams and
quality of collaboration within a business 1. What is my role? between teams within your organisation.
and between its employees is a rich 2. What am I getting for my efforts? To this end; what is your continuous
source of huge efficiency and 3. What difference does my job make? plan to develop the quality of
productivity benefits and we have 4. How am I doing? collaboration within your organisation?
worked successfully to help 5. How do I fit into the bigger picture?
organisations untap this potential with If you would like Rocket to provide a
staggering results in terms of enhanced What would be the impact on team Collaboration Review to estimate the
productivity, reduced acquisition costs performance if every member of your hidden potential hidden in your
and reduced staff turnover. The starting staff could accurately answer each of organisation, please contact us and we
point is always to business leadership these questions? Simple questions that would be happy to share best practice
and the simple question: when answered knowingly by engaged initiatives and help you beat the
team members can create staggering recession through teamwork, simply
“If your team were working at its results. email me.
maximum potential, what percentage
productivity improvement do you OK, let’s say that your employees pass
think would be achieved?” the top five test .. what is next? Best Wishes
The usual answer is somewhere A recent study by Google recognised
between 20 – 50 percent! that the teams that socialised together
were more productive. They foster more Ian Howell
Let’s be clear, I can never fault the opportunities for employees to interact
commitment and work ethic within the and build understanding of peoples’ Email:
businesses I meet. They are working roles and challenges i.e. they use their ian@rocketperformance.co.uk
2. ECONOMIC UPDATE
Key Economic Data Summary
as at 26/01/10
CPI 2.9% Up 1% from October
RPI 1.4% Up 1.1% from October
Fiat Thanks Scrappage Schemes across
Employment 72.4% Down by 0.1% this quarter
Western Europe (BBC News 26/01/10)
Unemployment 7.8% Down by 0.1% this quarter The Italian firm said global sales of its Fiat,
BoE Base Rate 0.5% As of 05/03/09 (no change this month) Lancia and Alfa Romeo models had risen 5.7
percent to 1.84 million cars. It said the
LIBOR (GBP 3M BBA) 0.6156 25/01/10 scrappage scheme in Germany saw its
Crude Oil $75.18 a barrel Prices falling this month German sales almost double, while UK sales
had risen by 17.7 percent. However, parent
Gold $1096.60 per oz. (25/01/10) Prices falling back from company Fiat Group made an annual net
November high. loss, which it blamed on its taking of a 20
percent stake in Chrysler. Although Fiat Group
did not pay for this share of the US carmaker
National House Price Index January last June, it said "the strategic realignment
2009 (source Lloyds Banking Group as at 07/01/10) with Chrysler" caused significant restructuring
costs and write-downs. This contributed to an
annual loss of 800m euros ($1.1bn; £702m),
Average House Price £169,042 which compares with a profit of 1.7bn euros
Monthly Change +1.0% in 2008.
Annual Change -1.1% House Price Rises to Taper Off This Year
( R e u t e r s 1 9 / 0 1 / 1 0 )
The dramatic slide in house prices has ended
Personal Loan Rates (as of 25/01/10) - Based but economists in a Reuters poll only see them
creeping back up over the next couple of years
upon £5K (unless noted) over 36 months ex insurance with a recent rally tapering off as sellers return
and subject to underwriting to the market. Average house prices are seen
rising 1.6 percent this year and then 2.5 percent
in 2011, according to a poll of over 30 analysts
Lender APR Notes published on Tuesday, in line with forecasts for
Sainsbury's Finance 9.8% Lower rate consumer price inflation. The survey results,
Tesco Personal Finance 8.9% collected Jan 14-19, are roughly similar to the
1.8 and 2.2 percent predicted in the last Reuters
Santander UK 8.9% UK housing market poll in November, and stand
Post Office 9.9% No change in stark contrast to the double-digit growth seen
Nat West/RBS 12.9% No change in the boom years. Forecasts in the survey were
wide, ranging from a 10.5 percent fall and a 12.5
M&S 12.9% Borrowers haveto be a UK resident aged 30 percent rise for this year and between an 8.0
or over or a house owner
percent fall and a 13 percent rise next year.
Halifax 9.9% Loans available to existing Halifax customers Twenty of 29 analysts said house prices had
only. Minimum advance £7000 now stabilised with five saying they would within
HSBC 8.7% Min Advance £7000 a year, three saying it would be one to two years
Lloyds TSB 11.3% Min Advance £7500 before they bottomed and just one saying it
would be more than two years. Three quarters
Barclays Bank 10.9% New higher rate for existing customers only of those surveyed said British house prices were
Clydesdale / Yorkshire Bank 13.9% New higher rate for existing customers only still overvalued. They gave prices a median
AA Personal Loans 8.9% to 15.3% Restrictions apply rating of six on a scale where 10 was extremely
Co-Op Bank 12.9% overvalued and one extremely undervalued.
That is the same finding as the November poll.
Mortgage Costs - Standard Variable Banks Set for Radical Reform –
RocketComment
Rates (SVR) (as of 25/01/10) President Obama has set the scene for a radical
overhaul of the banking sector and Mervyn King,
Please note these rates may be subject to deposits/loan to value levels and underwriting
the governor of the Bank of England backs the
President’s calls. In principle banking could
become ‘boring’ once more. The calls are for
Lender Aug ‘09 Comments banks to become more risk averse; to avoid
SVR high risk, fast growth products, to ensure reserves
Halifax 3.5% closer match lending and for banking services
to be spread over more companies (mega banks
Nationwide BS 2.5% Existing customers only are set to go out of fashion). In the latter case,
the call is for more competition and a spread of
Santander UK 4.24% New Name for Abbey / A&L / 11/01/10 banking risk for countries across the world.
Lloyds TSB/C&G 2.5% Governments do not want to be called upon
again to bail out a bank. The outcome will be
Northern Rock 4.79% more expensive borrowing for all and it is likely
Barclays (Woolwich) 4.48% Calculated on Barclays base rate+1.99%, currently 2.49% to be harder to borrow money. The difficulty in
the short term according to Mervyn King is how
RBS 4.00% to bring in such policies without strangling
HSBC 3.94% recovery – but in the UK isn’t that is what has
already been happening for the last year?