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

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...