Confidence injection needed

In the City of London, the mood at the start of 2003 is pretty much what it was at the end of 2002 ' one of unrelenting gloom. The bad news continues. The Confederation of British Industry, the trade association of the UK's big companies, kicked off the year with a survey predicting massive firings at banks and brokers. A UK consultancy, the Centre for Economics & Business Research, predicted investment banks and brokerage firms will cut about 34,000 positions, or 10% of their workforces