UK to lose 350,000 jobs in downturn - papers 24 June

clock

More than a third of a million jobs will be lost to the economy over the next 18 months, according to a survey of business leaders, The Independent reports.

Research from the consultants Hay Group and the Centre for Business and Economic Research suggests that the downturn will cause a fall in employment of 350,000, with £900m wiped off corporate profits. The Hay/CBER forecast indicates that the impact on profitability and employment of the combined effects of the credit crunch and the commodities price boom will last until 2010. However, the researchers say, Britain "will – just – avoid out-and-out recession". A LONDON HEDGE fund manager collected almost £46m in pay and performance fees last year despite the fallout from the credit crunch l...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on uncategorised

Building Society-owned Newcastle Financial Advisers acquires Openwork firm

First of a number of acquisitions

Hannah Godfrey
clock 09 December 2019 • 1 min read

Bond managers fear hedges being undermined as liquidity dries up

The recent sell off in the bond market and growing liquidity issues have forced bond investors to use similar hedging techniques, undermining their effectiveness and causing concerns about how much downside protection funds really have.

Anna Fedorova
clock 03 July 2013 •

Police launch investigation into mortgage middleman fined £1m

West Midlands Police have launched a fraud investigation into a Birmingham financier over his role in sale and rent back agreements.

clock 25 June 2013 •