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News Tag: economic slowdown

June 8, 2010

Microfinance defies economic slowdown

by David Masters
Microfinance defies economic slowdown
Microfinance is one of the few sectors to have escaped the impact of the financial slowdown, according to a new report published this week. Unitus-Hewitt Microfinance Compensation & Benefits Survey found employee compensation in India-based microfinance institutions (MFIs) has held steady through the recession. Looking at employee compensation is a considered a reliable measure of how much a sector has been forced to make cuts. The ...

February 1, 2010

Exxon posts 23% fall in Q4 profits

by Kay Murchie
Exxon posts 23% fall in Q4 profits
Exxon Mobil, which is the world’s largest oil company, has today announced a 23% fall in fourth quarter profits. The company reported profits of $6.05 billion (£3.8 billion) for the three months to December 31, compared with $7.82 billion in the same period a year earlier. Revenues grew 7% to $89.84 billion exceeding analysts expectations and up from the $84.7 billion ...

November 28, 2008

Unemployment rises in eurozone, inflation falls

by Kay Murchie
Unemployment in the eurozone has risen to 7.7%, according to figures published by the EU's statistics office. The rise represents the highest level for two years and highlights the severity of the economic slowdown. The lowest unemployment level among the 15 European nations was reported in Spain, where the rate increased from 12.1% to 12.8%. Meanwhile, in France the rate increased from 8% ...

October 15, 2008

Sharp rise in unemployment in the UK

by Kay Murchie
Figures from the Office for National Statistics (ONS) have revealed that in the three months to August, unemployment in the UK soared by 164,000 to 1.79 million. The rise marks the fastest for 17 years and many reports suggest that the number of people unemployed could hit the two million mark by Christmas. Capital Economics recently suggested that the figure could ...

August 25, 2008

Economic slowdown to continue warns BoE deputy governor

by Kay Murchie
The current economic slowdown could ‘drag on for some considerable time‘ warns Charles Bean, the Bank of England's deputy governor. Speaking to the BBC from the annual conference of the world’s leading central bankers in Jackson Hole, Wyoming, Mr Bean described the downturn as challenging as in the 1970s and that every time the markets improve, another grenade exploded. However, ...

August 11, 2008

Economic slowdown hits recruitment activity

by Kay Murchie
A survey has revealed that job losses are set to increase. According to a survey of 1,200 British companies, carried out by KPMG and the Chartered Institute of Personal Development (CIPD), less than a third plan to recruit staff between July and September, compared with 37% in the period April to June. Furthermore, the number of employers planning redundancies has risen from 22% to ...

June 23, 2008

Hundreds of thousands of jobs to go as a result of economic slowdown

by Kay Murchie
As the economy grinds to a virtual standstill, up to 350,000 people will lose their jobs according to a survey by the Centre for Economic and Business Research (CEBR) and the Hay Group, a management consultant. This estimate was based on interviews with 120 bosses in charge of companies who generate annual sales of at ...

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