Businesses gloomy over euro troubles September 19, 2011 BUSINESS leaders throughout the world hold an extremely gloomy outlook for the near future, a survey has revealed this morning. Seven in 10 senior business workers say it is “very likely” or “somewhat likely” that a global economic recession will arrive in the coming months, according to research by the Harvard Business Review. Europe’s ongoing [...]
Tyco divides itself into three September 19, 2011 DIVERSIFIED manufacturer Tyco International is moving to separate its businesses into three independent publicly traded companies, becoming the latest US conglomerate to do so. Investors cheered the move and drove the company’s shares up nine per cent in pre-market trade yesterday. Consumer companies Kraft Foods, Ralcorp Holdings, finance-to-education conglomerate McGraw-Hill and energy giant ConocoPhillips have [...]
Debt-ridden and credit-fuelling states made crisis worse, top economist says September 19, 2011 HIGH government spending deficits and the credit-fuelled boom left many wealthy countries particularly vulnerable to the financial crisis, a leading economist said in London yesterday. In contrast, some emerging economies avoided the credit boom and had budget surpluses at the time of the crunch, subsequently coping better with the economic crisis, Professor Maurice Obstfeld of [...]
Qantas says thousands hit by strike over pay and jobs September 19, 2011 AUSTRALIA’S Qantas Airways has cancelled 28 flights scheduled for today due to a planned four-hour strike by ground staff, which the airline said will affect more than 6,100 passengers. Qantas said in a statement yesterday it expected a further 27 flights to be delayed by up to 35 minutes and warned passengers of further disruptions [...]
…but no set OAP age may hurt young September 19, 2011 SCRAPPING the default retirement age could lead to old workers staying on and fewer young people being able to take their vacancies, according to figures from Norton Rose, released ahead of a report set to be published on 3 October. Almost half of respondents – 46 per cent – told the law firm the lack [...]
Scottish jobs growth slowing September 19, 2011 Employment prospects north of the border continued to improve in August, despite a slower growth in vacancies than seen the previous month. Both permanent and temporary jobs growth was recorded in the latest Bank of Scotland labour market barometer, released yesterday. The survey recorded a score of 53.9 in August – its lowest since March, [...]
Construction up in Eurozone September 19, 2011 Eurostat figures yesterday showed growth of 1.4 per cent month-on-month in the Eurozone construction sector. That compares to a decline in output of 1.3 per cent over June. Fluctuations in output over the year mean the construction sector expanded by 1.2 per cent over the year to July. The picture was even less rosy in [...]
US housing confidence flatlines September 19, 2011 Builders’ confidence remained low as the economic outlook worsened and credit conditions failed to improve, according to the National Association of Home Builders’ (NAHB) housing market index. Numbers over 50 show more US builders believe conditions are good than poor. The index fell to just 14 in September, and has hovered between 13 and 16 [...]
WE ARE BOOSTING YOUTH EMPLOYMENT, CLAIM RETAILERS… September 19, 2011 BRITISH shops are boosting youth employment, with more than four in 10 new retail jobs going to people aged between 16 and 21. And around 40 per cent of 16 to 19 year olds with jobs are employed in the sector, the British Retail Consortium (BRC) will argue at the Liberal Democrat conference today.
Sany Heavy to launch Hong Kong listing September 19, 2011 SANY Heavy Industry, China’s largest construction machinery maker, aims to raise up to HK$26bn (£2.1bn) in what could be Hong Kong’s second-biggest stock offering this year, as it defies volatile markets to fund an expansion. Sany Heavy’s offering is one of several deals that are pushing through Hong Kong’s narrowing initial public offering window, with [...]
