The UK economic crisis on businesses Essay Example | Topics and Well Written Essays - 3500 words

The UK economic crisis on businesses - Essay Example The situation in the capital market was bad. The situation was further worsened by the fact that the housing loans were packaged as financial debt instruments and were sold in the capital markets. Companies around the world purchased the instruments and with the default of the loans, the instruments also became bad. Therefore, the economy overall was affected badly. (Walayat, 22nd August, 2007). The economy of the UK officially entered the recession with the decreased level of growth in two successive quarters. The Government and the banks helped the economy to face the tough situation with pumping in money and effecting rate cuts. This resulted in the Government borrowing money and thus was in a bad situation in the repayment of the loans. The companies were in a bad situation and they were looking to cut costs. There was huge job cutting among the companies and the unemployment reached massive levels. (Oxlade, 12th March, 2010; Bank warns of recession into 2009, 12th November, 2009 ). The recession was hard on the employees and the workers in different industries. The organizations restricted most of the benefits to the workers for cutting costs. A survey found that in the UK among a sample size of 704 organizations, 55% of the sample was planning to decrease the bonus and the pay or to freeze the process altogether. Among the sample size, 61% had no plans for recruiting new workers and 34% were contemplating on not recruiting the graduates. The labor market was in total disarray and the companies increased the off shoring process. The companies in order to cut costs were operating in flexible hours to allow the workers to work more. Bonus and incentives were not paid by most of the respondents. (Broughton, 10th August, 2009) . The situation was the same all over the world. Almost all the countries were more or less perturbed by the recession. Some of the major economies of the world were the most affected. In this paper, the countries of Japan and

Arbitration Coursework Example | Topics and Well Written Essays - 250 words - 1

Arbitration - Coursework Example hen a law doctrine does not adequately serve the purpose of complementing the intended Act and the law keepers are unwilling to enforce the law contract as it is due to the jurisdiction nature: the doctrine can be said to be unfair due to creation of more ambiguity rather than providing an amicable solution. In the case of Hamlyn Versus Talisker, during the late 19th Century there was a burst of enthusiasm over a ruling that had been made through the separability notion in Germany. Scholars having gone through different types of contracts feel that the arbitral clause was contained in a broader agreement that was a procedural contract. With the law procedure being governed by the law forum, in the case of a contract, the contract ought to have been governed by another law in another part of the agreement1. Hence, in the case of Hamlyn Versus Talisker should have been enforcement of arbitration clause instead of the contract that had taken the center stage of the case. With the cited cases and other similar cases in France it can be concluded that the doctrine of separability is essential in guiding rulings based on main contract but in some cases it offers guidance that can be subject to criticism. In addition, there are some instances that the doctrine is void due to illegality that can be evidenced in the case of Harbor Assurance Versus Kansa. Therefore, separability doctrine should be rejected because it is not dependable unanimously, and it is