Profits 'tumble' at finance firms

[temi]

I just saw this news at BBC (Excerpts below) I wonder why I am not surprised by this profit fall at finance firms:




Financial services companies have been hit by a record fall in profits, business organisation CBI has warned.
The warning came as a CBI survey of 87 such firms found that two-thirds suffered a fall in business between October and December of last year.
The study, co-conducted by accountancy firm PricewaterhouseCoopers, also found a sharp fall in vacancies and investment and training budgets.
It predicts a continuing decline in business, resulting in more job losses.

[TeamPlayer]

You`re right, no surprise. It`s a knock on effect of reducing sales of cars, machinery etc as the slump hits.