More than a third (35 percent) of employers intending to hire temporary workers expressed concerns over the availability of agency workers with the required skills—with the construction sector expecting the largest crunch in this area—while almost half (47 percent) of employers said they were using agency staff to manage uncertainty. To read the full article in People Management, click: Falling Economic Confidence Now Affecting Hiring Decisions, Says Survey.
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The EU is making increasingly positive noises that a Brexit deal is within reach. But don’t breathe easy just yet—there are still battles to come when Prime Minister Theresa May brings her deal back to Parliament. To read the full article in Bloomberg, click: Brexit Bulletin: A Deal, and Then the Drama.
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Brexit Seen Delivering Brutal but Brief Blow to UK Economy The UK economy is on “a very different path” from that of a few months ago, with business investment and consumer spending due for a short, sharp post-Brexit shock, according to a forecast by the EY Item Club. The organization has slashed its UK growth forecast for 2016 to 0.4% from 2.6% and predicts the pound will be down 15% by year’s end. Gwyn Topham discusses the issue. To read the full article in The Guardian, click: UK Economy Must Endure ‘Short, Sharp Shock’ After Brexit Vote.
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Jeff K. Davis, managing director of Mercer Capital’s Financial Institutions Group, attended Creditflux’s private credit conference in New York a couple of days before the Brexit vote. He explains that there was not much concern mentioned among mostly U.S. credit investors about it as a market or economic catalyst; nor was there much concern expressed about an aging credit cycle. To read the full article in Mercer Capital’s Financial Reporting Blog, click: Income Post-Mortem and Coupon Clipping. This article is republished from Mercer Capital’s Financial Reporting Blog. It is reprinted with permission. To subscribe to the blog, visit: http://mercercapital.com/category/financialreportingblog/.
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Brexit Market Losses Reached a Record $2T Global markets lost more than $2 trillion in paper wealth following news that the UK had voted to leave the EU. That made the largest single-day drop in history, surpassing a $1.9 trillion sell-off during the financial crisis in September 2008. Edward Krudy describes what happened. To read the full article in Reuters, click: Post-Brexit Global Equity Loss of Over $2 Trillion Worst Ever: S&P.
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This blog outlines some recent changes to the impairment testing regime which provides corporate finance managers with periodic updates and commentary around several topics including impairment testing. Lucas Parris, senior member of Mercer Capital’s Financial Reporting Valuation Group, provides some insight as to what impact this may have. To read the full article in Mercer Capital’s Financial Reporting Blog, click: New Rules for Goodwill Impairment? This article is republished from Mercer Capital’s Financial Reporting Blog. It is reprinted with permission. To subscribe to the blog, visit: http://mercercapital.com/category/financialreportingblog/.