Starbucks to close 500 more shops

Coffee chain Starbucks plans to shut 500 stores in the US on top of the 100 closures it had already announced. Up to 12,000 full and part-time jobs will go, although Starbucks will try to move staff into other stores. While it is closing underperforming stores, the company is still opening new US outlets, although it is cutting back from 250 to 200 next year.

Starbucks opened many stores in areas which have since been hard-hit by the housing slump such as Florida. About 70% of the outlets scheduled to be closed have only been open since 2006. The company has been hard-hit by US consumers feeling the pinch and cutting back on their spending on expensive coffee.

It is disrupting the lives of the people who have worked so hard to deliver superior service to our customers, says Howard Schultz, Starbucks chief executive.

"Everything seems to be heading for the worst. It is very important for the younger generations to be very careful with their choices and decisions for the right college and right field of studies or they will regret it later."

UK Job Market Opportunities Declining

The UK job market weakened rapidly in November as permanent placements declined at a record rate, a new survey from Markit Economics suggests.

The drop in permanent and temporary jobs was the fastest recorded in the survey's 11-year history. The figures provide evidence of the rapid slowdown in the UK economy and suggest unemployment rates will rise.

"The UK jobs market is heading downhill at breakneck speed," said Mike Stevens at KPMG, a sponsor of the survey. The report also showed record survey falls in permanent salaries and temporary staff pay rates.

"Employers in almost all sectors have drastically cut recruitment plans and are shedding contract and temporary staff as fast as they can," Mr Stevens added. Permanent placements declined for an eighth consecutive month in November, with the rate of contraction accelerating to a new survey record.

Temporary and contract staff billings also fell by record levels, as did demand for permanent and temporary staff. The only sector to avoid the downturn was nursing and medical care. Unsurprisingly, record rises in staff availability were also recorded.
The monthly survey, sponsored by the Recruitment and Employment Federation and accountancy firm KPMG, features original data collected by Markit Economics from 400 UK recruitment and employment consultancies.

Fortunately, IT software industry is facing robust growth.

Honda Facing Serious Financial Crisis

Honda is pulling out of Formula One, blaming the world economic crisis for plans to sell its team. Sources told BBC Sport the team were "optimistic" they would continue, but an investor had not yet been found. The decision leaves Englishman Jenson Button and 2009 team-mate Rubens Barrichello without drives, with only a few mid-ranking seats still available.



Honda, which spent more than £300m a year on F1, said it would also no longer supply the sport with engines.
A deadline of January has been set to find a buyer but workers at Honda's Brackley base have been told to expect redundancy letters before Christmas.

"Honda Motor Co. has come to the conclusion that we will withdraw from all Formula One activities, making 2008 the last season for participation," said Honda president Takeo Fukui at an emotional press conference.
"This difficult decision has been made in light of the quickly deteriorating operating environment facing the global auto industry... and the sudden contraction of the world economies," he added.

"Honda must protect its core business activities and secure the long term as widespread uncertainties in the economics around the globe continue to mount." According to the Reuters news agency, team bosses Ross Brawn and Nick Fry told a meeting of the Formula One Teams' Association: "They have a month to find a buyer, otherwise they are closing the team."

If no buyer is found, Honda's decision will leave F1 with just 18 cars on the grid next season. Tough luck ahead for years to come.

Credit Suisse - Cutting Jobs

Troubled Swiss banking giant Credit Suisse has said it is shedding another 5,300 jobs from its global workforce. Most of the jobs being lost are in investment banking. The firm has already shed 1,800 posts this year. The bank has struggled since the onset of the financial crisis and has been forced to write off assets worth billions owing to bad loans.

It said it had a net loss of about 3bn Swiss francs ($2.5bn; £1.7bn) in the two months to the end of November. Credit Suisse said the loss, primarily in investment banking, was due to adverse market conditions and risk reduction. In addition it will take a restructuring charge of 900m Swiss francs.

"Investment banking had a significant pretax loss, reflecting the challenging conditions in the financial markets in the quarter and the costs associated with risk reduction," Credit Suisse said in a statement. Without state aid

The bank is shedding 11% of its workforce as it strives to make savings of 2bn Swiss francs. These job cuts will take place by the middle of the next year, the bank announced. On Monday it said that it would cut 650 jobs from its UK workforce.
Credit Suisse said on Thursday that its chief executive and other top managers will not receive salary bonuses for 2008.
So far Credit Swiss has managed to weather the global financial crisis without state aid.

Even accounting industry is badly affected.

Infineon Technology - Facing Big Loss

Infineon Technology is cutting jobs. German chipmaker Infineon Technologies has posted its seventh straight quarterly net loss because of falling chip prices and weakening demand. The firm reported a net loss of 763m euros ($970m, £652m) in the quarter to the end of September, more than analysts had expected.

Infineon has been hit hard by falling demand from troubled carmakers, its key customer group. The company's shares have fallen almost 80% this year. Shares in Infineon closed down 39.6% at 1 euro on the Dax stock exchange in Frankfurt.

Job cuts
Infineon said it expected revenues from continuing operations to decline by 30% in its next financial quarter. The firm's net loss for the whole of the 2008 financial year reached 2.9bn euros, compared with a 347m euros loss in the previous year. In July, Infineon unveiled plans to cut 3,000 jobs, or about 10% of its total workforce, as the firm looks to cut costs. Infineon is trying to sell its memory-chip unit Qimonda, which has been a drag on its business.

Another bad news to Engineering Students taking Electrical and Electronics Engineering.


Infineon - Kulim, Malaysia

US Carmaker Heading Bankruptcy

Bad News to Engineering Students. Is getting harder to get a job in this industry.

The so-called Detroit Three of troubled US carmakers have asked for a combined total of $34bn (£22.8bn; 26.8bn euros).
Slashing costs, reducing levels of debt and investing in greener technologies form the centre-piece of each proposal.
The chief executives of Ford and GM have even offered to work for $1 a year if Congress approves the emergency aid.

Sales at all three of the carmakers have plunged as US consumers tighten their belts in the face of the severe economic downturn. Ford sold 31% fewer light vehicles in November compared with the same month last year. GM suffered a 41% drop in sales for the month, while Chrysler fared worse still, with sales plummeting 47%.

Tough task




Analysts say the poor sales figures have highlighted what a tough task this will be. "Every manufacturer is posting awful numbers and we are no exception," said Mark LeNeve of GM North America.

Swedish government has ruled out a takeover of Volvo if Ford sells it Indeed, Honda's year-on-year US sales fell by 32% in November, while Toyota's fell by 34%.

"The consumer is scared and sitting on the sideline. We need appropriate economic stimulus to get the consumer back in the game," Mr LeNeve added.

But the White House has already expressed scepticism about the bail-out proposals. "We are sticking to our guns that the companies have to prove that they are viable before taxpayer dollars should be given to them," said White House press secretary Dana Perino. And the Swedish government has ruled out a takeover of Volvo if Ford is unable to sell it.

Automotive Engineering Going Downtrend

German car downturn 'worst ever'



The downturn in the German car market is "at a pace and magnitude that has never happened before", the country's main auto trade body has warned. As a result, the German Association of the Automotive Industry said new car sales in 2009 are expected to be the worst since reunification in 1990. It added that Volkswagen, Daimler and Porsche will all have to cut output, which will "impact" on workers.

Last week Porsche delayed its takeover of Volkswagen, blaming falling sales. Porsche said there were signs of a "serious slump" in global demand.

Challenging

Volkswagen itself has warned that the current sales environment is "difficult", while Daimler, owner of Mercedes-Benz, said the situation is "very challenging indeed". German car sales are expected to slip to 2.9 million next year, down from the expected 3.1 million for 2008, says the trade body.

Car sales are also lower across Europe, with Italy's Fiat warning that its 2009 profits could fall by 65%. Meanwhile Toyota, Honda and Nissan are all trimming production at their European plants.

US loan request
In the US, the big three American car firms - General Motors (GM), Ford and Chrysler - have submitted proposals to Congress for multi-billion dollar loans they say are vital to their survival. They have asked for a combined total of $34bn (£22.8bn; 26.8bn euros). Meanwhile, the Swedish government has said it would be prepared to offer financial support to Ford subsidiary Volvo, and GM unit Saab. However, it said it would not be interested in nationalising the two companies.

In short automotive engineering is not looking very bright for the next 5 years ahead

Charles Darwin University Scholarship

Scholarship Name
Charles Darwin University Scholarship



Field Of Study
Undergraduate Scholarship. Bachelor Degree. Engineering/ Surveying.

Eligibility
- All Malaysians are eligible to apply.
- Exceptional academic record. (Min 7A-SPM / 3A-STPM)
- English requirements (Cambridge ESOL - FCE / IELTS - band 8)
- Must be accepted into the Bachelor of Engineering or the Bachelor of Engineering double degree course in Charles Darwin University (GDU)

How to apply
Applications should be emailed, faxed or mailed to: International Office
Charles Darwin University
Casuarina Campus, Darwin NT 0909
Australia

University Of Newcastle - Scholarship

The University of Newcastle is a dynamic, research intensive University ranked in Australia's top 10. The University has an international reputation for expertise in innovative approaches to teaching and learning.

University of Newcastle have award winning teachers, Federation Fellows, Centres of Excellence and highly cited researchers in many disciplines.



University of Newcastle enjoy significant research and teaching partnerships with universities throughout Asia and the Pacific as well as Europe, North America and Africa.

The University of Newcastle is a public university that was established in 1965 and is located in Callaghan, a suburb of Newcastle, New South Wales. It was founded as part of a newer generation of universities which intended to depart from the traditional methods of the older universities of Australia.

As such, the university prides itself in its unique and challenging core educational programmes that are delivered through five faculties: Business and Law; Education and Arts; Engineering and Built Environment; Health; and Science and Information Technology.

Bachelor of Business (Majors in HRM, International Business, Marketing, Management or Tourism), Bachelor of Commerce (Majors in Accounting, Economics or Finance).

Eligibility

For Malaysian students to study in Australia.

Scholarship is only available for one of the following programs: Bachelor of Business, Bachelor of Commerce.

Student must meet (1) academic and (2) English proficiency requirements (Cambridge ESOL FCE or IELTS band 8) for entry into nominated program.

University of Newcastle Scholarship - MACC Scholar must maintain satisfactory progress every semester for the duration of the study program.

Scholarship Value
Partial Scholarship-50% tuition fees for full duration of program (ie, maximum 3 years).The scholarship does NOT provide financial support in the form of living allowance, nor does it provide for the cost of visa application, Overseas Student health Cover (OHSC), airfares, accommodation, conferences or other costs associated with study

Carver - Next Generation of Vehicle

The Carver One feels just as much at ease turning corners, conquering roundabouts and beating traffic jams, as it does on curvy country roads or endless straights, far away from the world and its worries.

Its sporty engine gives it just the right power in proportion to its weight, reaching a top speed of 185 km/h (115 mph) while its average fuel consumption remains at a very modest 6 L/100 km (40 UK mpg).




But speed on the straights isn’t everything... Go for the corners, that’s where the Carver One pulls out all the stops!

It banks from left to right in just a second. This unrivalled agility lets you cope with any emergency situation, avoid obstacles, and makes for sheer exhilarating fun.



And what fun it is: virtually unrestricted manoeuvrability, surfing through traffic, snowboarding roundabouts and pivoting corners. It is like riding your own roller coaster designed as you carve along. It is like flying a glider at ground level. It is like playing the lead in your own version of Top Gun. It is all this and much, much more.