CSI300, Shenzhen composite index and Shanghai composite index: The full scale of China’s stock market carnage January 4, 2016 Chinese stocks kicked off the new year dispiritingly, after trading was suspended on its blue-chip CSI300, which suffered its worst day in nine years. The CSI300 crashed down seven per cent, and triggered the so-called "circuit breaker" suspension mechanism. The measure, which was introduced to curb volatility in the wake of Black Monday, was used for the first time today. [...]
How do you pick a career? Fear is a key motivator for a quarter of UK workers, but at least we’re tackling it face on January 4, 2016 It's not childhood dreams or passion for a particular subject that motivates many people to pick their career path. Research from jobs website CV-Library has found that just over a quarter (26 per cent) of UK workers choose their job because they were trying to avoid certain workplace fears. In the survey of more than [...]
Chinese trading suspended after benchmark CSI300 plummets January 4, 2016 Trading on China's stock market was suspended today, in the wake of a sell-off sparked by a survey showing Chinese manufacturing activity contracted for a 10th consecutive month in December. China's blue-chip CSI300 suffered its worst day in nine years, tumbling around seven per cent to just 3,469.07 points. Officials subsequently halted trading for the rest of the day [...]
New year, new job? More than one in five employees expected to seek out new role in 2016, with better pay and benefits being the biggest motivator January 4, 2016 More than one in five (21 per cent) employees will be polishing off their CV and looking for a new job in 2016. A survey of 1,000 full-time employees released today by people management consultancy Penna discovered that nearly half (48 per cent) of those planning to leave for pastures new were doing so to [...]
EU referendum: UK financial chiefs’ favour for staying in the EU falls, and many feeling wary about 2016 January 4, 2016 The proportion of UK finance chiefs supporting the country’s stay in the EU has fallen, and many are approaching the new year with a great deal of caution. According to professional services firm Deloitte’s most recent chief financial officer (CFO) survey, less than two-thirds (62 per cent) said they were in favour of the UK [...]
Business services drive rebound in private sector growth January 4, 2016 The private sector gained momentum toward the end of the year, according to survey figures released this morning. The Confederation of British Industry’s (CBI) growth indicator strengthened in the final three months of 2015, with growth driven by the services sector. Manufacturers continued to struggle, the CBI said. The difference between the percentage of firms reporting [...]
Ukraine gears up for London legal battle: Russia is taking its neighbour to court over an old political loan January 4, 2016 The tense standoff between Ukraine and Russia over a $3bn loan will enter its next stages in London as we head into 2016. Russia said at the end of last week that it will be taking Ukraine to an English court after the country failed to repay a $3bn bond due last month. The countries’ debt [...]
Alexis Tsipras defiant ahead of crunch negotiations on pension reform January 4, 2016 Greek Prime Minister Alexis Tsipras has said he will not give in to “unreasonable” demands as he braces for negotiations with creditors over pension cuts. The country is aiming to pass the bill through parliament by January 15. The pension reforms form part of an €86bn (£63bn) bailout package agreed to in August, of which [...]
City A.M.’s journalists take a look at what 2016 has in store for the world of finance and business January 4, 2016 BANKING Strengthening outlook despite more regulatory bumps ahead Bank of England governor Mark Carney may have declared the banking crisis officially over at the end of last year, but 2016 looks to be far from a challenge-free year for Britain’s biggest banks. To be sure, all seven of the UK’s leading lenders passed the Bank’s [...]
Business confidence dips as the City braces itself for a challenging 2016 January 4, 2016 The City is bracing itself for a tough 2016, with data out today showing that business confidence has taken a knock and finance chiefs are approaching the new year with caution. Lloyds Bank’s business confidence index – a gauge of expected sales, orders and profits – declined to a score of 38 per cent this [...]