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[1/5] China's and Hong Kong's flags are seen on the pedestrian footbridge as decorations for the celebration of National Day, at the financial central district in Hong Kong, China October 3, 2023. "The last few years have created a very negative image of Hong Kong," said Inaki Amate, chairman of the European chamber in Hong Kong, one of the speakers at the M+ event. Executives point to the changing fabric of Hong Kong with mainlanders making up more than nine-out-of-ten of all those approved to work under government talent schemes. "If we believe that Hong Kong will be able to recover its most international Asia city status by continuing on this trend, we are very wrong," said Amate. “You’ve got what happened with the national security law, the pandemic and now you’ve got a pretty big problem with China’s economy.

Persons: Tyrone Siu, Inaki Amate, Paul Chan, haven’t, ”, Tara Joseph, “ You’ve, you’ve, Hong, Robert Walters, Patrick Ip, David Baverez, Baverez, Dorothy Kam, Scott Murdoch, Simon Cameron, Moore Organizations: REUTERS, Tyrone, European Union, Hong, Monetary, American Chamber of Commerce, Colliers, Companies, National Bank Australia, ASEAN Investment Cooperation, COVID ., COVID . Asia Pacific, Thomson Locations: Hong Kong, China, HONG KONG, Hong, British, Asia, Singapore, Dubai, COVID, COVID . Asia, Europe, “

☆ Singapore firms scramble to soften blow of soaring rent costs
▼ + stars: | 2023-05-08 | by ( Chen Lin | ) www.reuters.com time to read: +5 min

But with private housing rents in Singapore maintaining the scorching pace of gains in 2023, those steps are likely falling short, forcing expatriate workers to even consider leaving the city for good. An exodus of foreign talent due to unaffordable housing costs would be a setback to Singapore in fulfilling its ambitions of becoming a technological and innovations hub. EXPAT WOESRecruitment companies said most expats in Singapore do not get housing allowances as companies are controlling their costs amid an uncertain global economy. That is cold comfort for Briton Natalie, who has been living in Singapore for 15 years and is facing a S$3,200 increment in monthly rent. ($1 = 1.3274 Singapore dollars)Reporting by Chen Lin in Singapore; Editing by Xinghui Kok and Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

☆ Recruiter PageGroup sees 29% slump in annual profit on tough market conditions
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies First-quarter gross profit down 2.4% at 262.7 mln poundsQuarterly gross profit in U.S. market declines 15%Sees FY operating profit of 140 mln poundsApril 17 (Reuters) - PageGroup (PAGE.L) on Monday became the latest recruiter to warn of tough conditions in the labour market as it forecast a near 29% slump in 2023 profit, partly hit by weakness in the technology and banking sectors in the United States. PageGroup along with peers Hays and Robert Walters have flagged weakness in the permanent hiring market because employers were turning to interim hires to ride out market uncertainty amid a tough economic outlook. PageGroup's gross profit in permanent recruitment fell 7.2% in the first quarter on constant currency terms, while temporary jobs jumped about 15%. It now expects annual operating profit to be in line with a company-compiled consensus of 140 million pounds ($173.9 million), way below the 196.1 million pounds it reported for fiscal year 2022. The FTSE midcap (.FTMC) firm also posted a 2.4% decline in gross profit at 262.7 million pounds for the three months to March 31.

☆ London's FTSE 100 climbs ahead of Easter break
▼ + stars: | 2023-04-06 | by ( Sruthi Shankar | ) www.reuters.com time to read: +2 min

The FTSE 100 (.FTSE) rose 0.5% and is on course to end the holiday-shortened week about 1% higher, with gains in oil & gas and healthcare stocks offering support. Shell (SHEL.L) rose 1.7% as the energy giant forecast higher liquefied natural gas (LNG) output in the first quarter. The midcap FTSE 250 index (.FTMC) rose 0.2%, with London-listed shares of travel firm TUI jumping 7.2% after sharp losses this week. "The report noted mortgage rates have continued to trend downwards, housing transactions have picked up slightly and the employment market remains robust. We still see challenges ahead as affordability remains under pressure," said Derren Nathan, head of equity research at Hargreaves Lansdown.

☆ Consumer stocks drag FTSE 100 lower amid recessionary jitters
▼ + stars: | 2023-01-10 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

SummarySummary Companies FTSE 100 down 0.3%, FTSE 250 off 0.4%Robert Walters down on profit warningInvestors await Fed Chair speechJan 10 (Reuters) - Britain's FTSE 100 retreated from a three-and-a-half-year high on Tuesday, led by consumer stocks amid recession worries, after hawkish comments from two U.S. Federal Reserve officials raised worries about future rate hikes. The blue-chip FTSE 100 (.FTSE) declined 0.3%, while the domestically focussed FTSE 250 mid-cap index (.FTMC) fell 0.4%. On Monday, Fed officials said inflation data due later this week would sway the central bank's decision about rate hikes. Among individual stocks, recruiter Robert Walters (RWA.L) slumped 8.1% after the company warned that its full-year profit was expected to be slightly below market expectations. Reporting by Shashwat Chauhan in Bengaluru; Editing by Dhanya Ann Thoppil and Subhranshu SahuOur Standards: The Thomson Reuters Trust Principles.

☆ Employees Are Using Job Offers to Win Big Raises From Their Employers
▼ + stars: | 2022-11-28 | by ( Aki Ito | ) www.businessinsider.com time to read: +10 min

Employers, not surprisingly, hate that people are using job offers as bargaining chips. That strategy may work for employers in a normal job market, when it's hard to find another job, let alone a better-paying one. "Employees are finding that there's a big gap between where they are and what they can get." "The job market is still performing very well," says Jay Denton, the chief analytics officer at LaborIQ, a compensation-data provider. Independence, it turns out, pays way, way better than loyalty.

☆ Robert Walters posts higher profit on strong hiring trends
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +1 min

Oct 11 (Reuters) - British recruitment firm Robert Walters (RWA.L) on Tuesday reported a 22% jump in its third-quarter gross profit, as hiring stayed robust amid intense competition to fill up vacancies. Register now for FREE unlimited access to Reuters.com RegisterThe company's gross profit rose to 112 million pounds ($123.5 million) for the quarter ended Sept. 30, compared with 91.8 million pounds a year earlier. Its quarterly gross profit for UK, however, fell 6%, owing to more challenging market conditions across technology recruitment and resource solutions. Peers PageGroup (PAGE.L) and Hays (HAYS.L), which have also seen a combination of talent shortages and wage hike leading to sharp increase in their net fees, are expected to report their quarterly results this week. Robert Walters, which forecast its annual profit to be in line with current market expectations, also named Leslie Van de Walle as non-executive chair.

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