Job openings in London’s financial services industry declined for the seventh straight month last month and the industry is likely to remain weak for the next year, a survey by recruitment firm Morgan McKinley said.
The number of vacant positions fell 16 percent last month to 8,568 from a year earlier, the London-based firm said in a statement yesterday.
Three out of four executives said it’s harder to get approval to hire staff than a year ago.
Securities firms in London and New York have eliminated more than 100,000 jobs in the past year as investment banking revenue declines and the pace of takeovers sinks to a three-year low, data compiled by Bloomberg indicated.
The Bank of England earlier this month predicted virtually no growth over the next year and said at least one quarter of contraction is possible, its most downbeat assessment of the British economy in a decade.
“Considerable levels of uncertainty remain within the financial services industry and in turn, the recruitment market,” Robert Thesiger, chief executive officer of Imprint Plc, Morgan McKinley’s parent, said in the monthly survey.
Most financial services employers remain cautious about salary packages, with 66 percent of those surveyed expecting pay to stay flat, Morgan McKinley said. Still, salaries in the City of London, the country’s main financial district, rose 6 percent from June to US$99,700 from the previous month, the survey said.
Morgan McKinley said it surveyed 161 executives in the first week of this month.
LONG FLIGHT: The jets would be flown by US pilots, with Taiwanese copilots in the two-seat F-16D variant to help familiarize them with the aircraft, the source said The US is expected to fly 10 Lockheed Martin F-16C/D Block 70/72 jets to Taiwan over the coming months to fulfill a long-awaited order of 66 aircraft, a defense official said yesterday. Word that the first batch of the jets would be delivered soon was welcome news to Taiwan, which has become concerned about delays in the delivery of US arms amid rising military tensions with China. Speaking on condition of anonymity, the official said the initial tranche of the nation’s F-16s are rolling off assembly lines in the US and would be flown under their own power to Taiwan by way
OBJECTS AT SEA: Satellites with synthetic-aperture radar could aid in the detection of small Chinese boats attempting to illegally enter Taiwan, the space agency head said Taiwan aims to send the nation’s first low Earth orbit (LEO) satellite into space in 2027, while the first Formosat-8 and Formosat-9 spacecraft are to be launched in October and 2028 respectively, the National Science and Technology Council said yesterday. The council laid out its space development plan in a report reviewed by members of the legislature’s Education and Culture Committee. Six LEO satellites would be produced in the initial phase, with the first one, the B5G-1A, scheduled to be launched in 2027, the council said in the report. Regarding the second satellite, the B5G-1B, the government plans to work with private contractors
‘NARWHAL’: The indigenous submarine completed its harbor acceptance test recently and is now under heavy guard as it undergoes tests in open waters, a source said The Hai Kun (海鯤), the nation’s first indigenous defense submarine, yesterday began sea trials, sailing out of the Port of Kaohsiung, a military source said. Also known as the “Narwhal,” the vessel departed from CSBC Corp, Taiwan’s (台灣國際造船) shipyard at about 8am, where it had been docked. More than 10 technicians and military personnel were on deck, with several others standing atop the sail. After recently completing its harbor acceptance test, the vessel has started a series of sea-based trials, including tests of its propulsion and navigational systems, while partially surfaced, the source said. The Hai Kun underwent tests in the port from
MISSION: The Indo-Pacific region is ‘the priority theater,’ where the task of deterrence extends across the entire region, including Taiwan, the US Pacific Fleet commander said The US Navy’s “mission of deterrence” in the Indo-Pacific theater applies to Taiwan, Pacific Fleet Commander Admiral Stephen Koehler told the South China Sea Conference on Tuesday. The conference, organized by the Center for Strategic and International Studies (CSIS), is an international platform for senior officials and experts from countries with security interests in the region. “The Pacific Fleet’s mission is to deter aggression across the Western Pacific, together with our allies and partners, and to prevail in combat if necessary, Koehler said in the event’s keynote speech. “That mission of deterrence applies regionwide — including the South China Sea and Taiwan,” he
RSS