Jobless figures hit hopes of recovery July 2, 2009 US stocks tumbled yesterday, driving the S&P 500 down to its third-straight weekly loss, as a steeper-than-expected slide in June non-farm payrolls revived caution about economic recovery prospects. News that US employers shed nearly half a million jobs last month and the unemployment rate jumped to 9.5 per cent, the highest in nearly 26 years, [...]
FTSE gains on commodities rally after price of oil rises July 1, 2009 THE FTSE 100 closed 2.2 per cent higher yesterday, fuelled by a rise in the oil price which prompted a strong rally in commodity stocks, and on hopes that the recession may be drawing to a close. The index was up 91.50 points at 4,340.71, after closing 1 per cent lower on Tuesday. “When (the [...]
The parachute regiment comes to the rescue July 1, 2009 IF all the talk of bottoming out and green shoots is to be taken seriously, one career sector looking to benefit is interim management, the arena of senior executive trouble-shooters. A development from the older American model of turnaround specialists, interim management – in which executive-level experts are parachuted into companies to address specific operational [...]
US stocks jump on green shoot hopes July 1, 2009 US STOCKS rose yesterday, the start of the third quarter, as reassuring manufacturing data from China, Europe and the United States reinforced hopes that the world’s economy is on the road to recovery. A day after the benchmark S&P 500 wrapped up its best quarter in a decade, investors ploughed new money into stocks, boosting [...]
CAREERS CLINIC July 1, 2009 RICHARD REIDPSYCHOTHERAPIST AND DIRECTOR OF PINNACLE PROACTIVE“I work in a small department, and have completely fallen out with a colleague. He questions everything I say, and I feel I can’t express my ideas. There’s a lot of tension between us and it’s beginning to affect my work, but my manager won’t stand up for me. [...]
Forex traders are focusing their attention on the pound June 30, 2009 TOP of the agenda for many forex traders at the moment are two things – the future of the pound in the face of expansionary quantitative easing and a ballooning UK budget deficit. Indeed, these issues were among the most keenly discussed at the forex breakfast co-hosted by City A.M. and Alpari UK last Friday, [...]
THERE ARE REASONS TO TREAT THE POUND’S RISE WITH CAUTION June 30, 2009 BORIS SCHLOSSBERGDIRECTOR OF CURRENCY RESEARCH, GFT THE pound has been on an uninterrupted rise, following the fortunes of the global equity markets and it hit a fresh high of 1.6743 against the dollar. on Tuesday. But now that cable has gained 22 per cent off its lows, can the rally continue? There are several good [...]
Trainee problem threatens pyramid June 30, 2009 THIS year is turning out to be one of the worst to be a trainee lawyer. This September Clifford Chance will axe 21 of its 70 trainees on qualifying, giving the firm a retention rate of 70 per cent. Last year the firm kept on 95 per cent. American firm Jones Day will keep on [...]
LOOKING TO NEW PLACES FOR LAWYERS June 30, 2009 DAVID MORLEY SENIOR PARTNER, ALLEN & OVERY IN April, the initial findings of the government’s Panel on Fair Access to the Professions were announced. It said that the most socially exclusive professions are law, politics and the media. The situation is getting worse, and these professions more exclusive. Partly, this is down to informal networks [...]
Shrinking economy shakes market but Wolseley grows June 30, 2009 WEAKER than expected consumer confidence figures in the US drove some shares lower yesterday, with banks, miners and food retailers leading the fallers. The FTSE 100 shed one per cent, or 44.82 points, to close at 4,249.21. But the index is up 8.2 per cent on the quarter, the best such performance since the final [...]