Connect with us

Theresa May, U.K. prime minister, listens to a question from reporters as she delivers a statement on the Brexit agreement during a news conference inside number 10 Downing Street in London, U.K., on Thursday, Nov. 15, 2018. 

David Levenson | Bloomberg | Getty Images

Theresa May, U.K. prime minister, listens to a question from reporters as she delivers a statement on the Brexit agreement during a news conference inside number 10 Downing Street in London, U.K., on Thursday, Nov. 15, 2018. 

The British pound rose sharply on Friday morning after U.K. Cabinet misters revealed that a delay to the official Brexit data looks increasingly likely.

This is a breaking news story, please check back later for more.

Source link

World

Europe has little ammunition to deal with the next crisis

Published

on

The last financial crisis has left Europe with very few tools to address the next economic downturn, the chief executive officer of Dutch multinational DSM told CNBC Tuesday.

The International Monetary Fund warned Monday of risks to economic growth in euro zone countries, coming specifically out of Germany and Italy. However, there are concerns that the sovereign debt crisis and the European Central Bank’s (ECB) subsequent bond-buying program have left the region with little options to address another economic crisis.

“We need to realize that from a monetary perspective there is no ammunition left in Europe, (the) interest rate is at an all-time low, and also the QE (quantitative easing) program which we are now building down … So if we really get to an economic slowdown in Europe, I think the central banks and governments, from a monetary point of view, have no ammunition left to address it,” Feike Sijbesma, CEO of DSM told CNBC at the World Economic Forum in Davos.

Source link

Continue Reading

World

IT salaries in Asia beat Europe, led by Singapore, Japan

Published

on

Information technology professionals in Asia are set for a lucrative future, according to a new report that found tech wages in the region are on the rise.

U.S.-based software management firm Puppet surveyed 3,000 IT professionals globally and found that salaries in Asia Pacific outpaced Europe in 2018. IT practitioners and managers in Asia earned an average of $75,000 to $100,000 last year compared to their counterparts in Europe, who took home an average of $50,000 to $75,000.

The shift was led by a hike in salaries in Singapore and Japan, which, as more developed economies, have been doubling down on their IT competitiveness on the global stage by boosting employee incentives. Last year in Japan, fewer than 9 percent of IT professionals earned under $50,000. In Singapore, that figure was closer to 27 percent.

The two countries reflect a wider regional trend, however. In 2017, half of respondents in Asia reported making less than $25,000, while in 2018 that figure was closer to 20 percent. At the other end of the scale, just 10 percent reported salaries of over $100,000 in 2017 compared to 30 percent in 2018.

Source link

Continue Reading

World

Trade war makes dealing with China more difficult, CEO says

Published

on

Official data published Monday showed China’s economy grew at its slowest rate in almost 30 years.

The world’s second-largest economy expanded at a rate of 6.6 percent in 2018, largely in line with analysts’ forecasts.

A downturn in China’s growth rate has stoked fears about the possible knock-on effect on the global economy, with Bejjani highlighting “practical hindrances” between China and the Middle East in recent months.

But, while the ongoing U.S.-Sino trade war has certainly complicated matters, the world’s second-largest economy was already trying to manage a slowdown.

Beijing is trying to balance a crackdown on high debt levels while also maintaining economic growth.

This is likely to benefit the economy in the long run, but it has resulted in a far slower pace of growth than the country has seen in recent years.

Source link

Continue Reading

Trending