The Greek parliament was set to approve detailed austerity and privatisation bills on Thursday to secure emergency funds and avert imminent bankruptcy, but longer-term dangers still lurk.
The euro and global stocks rose after Wednesday's first vote to adopt a five-year austerity plan despite fierce public opposition to more pay and spending cuts, as investors expressed relief an immediate meltdown had been avoided.
Belgian Finance Minister Didier Reynders said, as a result, euro zone finance ministers were likely to agree to release a next tranche of loans to Greece at a meeting Sunday.
That 12 billion euro loan will prevent Greece defaulting in mid-July or at the latest on August 20, when it must honour a big bond redemption, and shift the focus to a second assistance package likely to be about the same size as last year's 110 billion euro bailout.
But credit insurance markets are still pricing in an 80 percent chance of Greece defaulting on its 340 billion euro debt mountain -- 150 percent of annual economic output -- within five years, and a likely 40 percent write-down for bondholders on three-year debt.
Prime Minister George Papandreou's socialist government may find it hard to enforce tax increases and state asset sales against massive public resistance, while a violent fringe always present in Greek politics has burst to the fore.
Rioters armed with stones and clubs fought several hours of running battles with police firing huge clouds of teargas in central Athens until the early hours of the morning, leaving a field of debris for street cleaners to clear.
"The implementation law will pass without problems," said Costas Panagopoulos, head of ALCO pollsters.
"The problem for Papandreou is not in parliament, it is what is happening outside parliament: not in Syntagma Square, which is just a few hundred protesters, but with the whole of Greece's 11 million people."
ROLLOVER TALKS
North European creditor countries, led by chief paymaster Germany, are insisting that private sector bondholders must share the cost of any further rescue, so intensive talks are under way on a "voluntary" rollover of maturing Greek debt.
German bankers were due to discuss a French rollover plan that has drawn widespread interest with finance ministry officials Thursday, but differences remain over incentives for private investors and possible official guarantees.
European Central Bank President Jean-Claude Trichet, who has repeatedly warned the EU against triggering a devastating credit event or downgrade of Greek debt, gave a cautious response to the French proposal in testimony in the European Parliament.
"At this stage we have not yet (got) a position... we are very alert but I cannot give you a precise judgement on what is going on. There are several concepts being examined," he said. "We advise against all concepts that are not purely voluntary."
Three banking sources told Reuters Wednesday that politicians and bankers were confident that implementing the French plan would not trigger a payout of credit insurance or a default that would inflict losses on banks.
Banks had received positive signals from ratings agencies that they would not call the rollover plan a default, the sources said.
But officials cautioned that many details of the plan, including whether there would be any official guarantee, remained to be negotiated.
"We have had many discussions at the technical level to see what are the best solutions," Reynders said, adding a decision could be taken at a European finance ministers' meeting on July 11 and 12.
"IMPLEMENTATION RISK"
As Athens recovered from a night of violence, market concerns shifted from the danger of an immediate disorderly default for the first time in the euro zone to the medium-term prospect of a Greek debt restructuring.
"There's still implementation risk over the next few months but for now the default risk has been taken off the table so long as today's vote goes through," said Lloyds Bank strategist Eric Wand.
He forecast renewed pressure on the bonds of weaker euro zone countries on the edges of the single currency area after a temporary respite.
"There should be a brief hiatus in the periphery-bashing we've had in the last few weeks, but there are other problems."
Those included the prospect of early Spanish elections and squabbling within Italy's centre-right coalition as the country faces a credit rating downgrade.
Italy's cabinet is due to adopt Thursday a more ambitious deficit reduction plan than initially planned aimed at saving 47 billion euros by 2014 to try to ward off a loss of creditworthiness.
But Prime Minister Silvio Berlusconi's Northern League coalition partners have said the government is at risk over plans to raise the retirement age and cut spending.
Source: Reuters Daniel Flynn and Leigh Thomas
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Thursday, June 30, 2011
Wednesday, June 29, 2011
Why Lagarde got the IMF job today
For me the interesting thing about Christine Lagarde becoming the new managing director of the IMF is not the news itself. I said she’d get the job as long ago as May 15, and I’ve considered her a lock since May 20. Rather, the interesting thing for me is the timing: everybody expected the announcement on Thursday, the 30th, but instead it came today, the 28th. Why push things up?
Because in the fraught negotiations with Greece, every day counts — the IMF disbursement was originally due tomorrow, the 29th, and can’t wait much longer than that before Greek debt maturities in July start piling up and forcing a default. And the headless IMF, it turns out, has not been an effective actor in those negotiations. Here’s Mohamed El-Erian, an old IMF hand:
The post of managing director is not to be taken lightly in an institution that operates like a well-disciplined army, with staff looking up to the unquestioned general for decisive leadership.
This is why the resignation of Dominique Strauss-Kahn has been so disruptive to the functioning of the IMF.
With Lagarde now moving swiftly from an international campaign to actual management of the Fund, the world’s technocrats will all be hoping that she will prove a forceful and decisive leader on the urgent subject of Greece. The Greeks have a certain amount of freedom here, since it’s pretty much unthinkable that Lagarde’s first act would not be to disburse bailout funds. But one sign of a leader is getting results even when your actions are severely constrained. Lagarde has an immediate opportunity to prove herself, and it’s absolutely in Greece’s long-term interest to make her look tough and effective. She might well put these extra two days to very good use.
Source: Reuters
Because in the fraught negotiations with Greece, every day counts — the IMF disbursement was originally due tomorrow, the 29th, and can’t wait much longer than that before Greek debt maturities in July start piling up and forcing a default. And the headless IMF, it turns out, has not been an effective actor in those negotiations. Here’s Mohamed El-Erian, an old IMF hand:
The post of managing director is not to be taken lightly in an institution that operates like a well-disciplined army, with staff looking up to the unquestioned general for decisive leadership.
This is why the resignation of Dominique Strauss-Kahn has been so disruptive to the functioning of the IMF.
With Lagarde now moving swiftly from an international campaign to actual management of the Fund, the world’s technocrats will all be hoping that she will prove a forceful and decisive leader on the urgent subject of Greece. The Greeks have a certain amount of freedom here, since it’s pretty much unthinkable that Lagarde’s first act would not be to disburse bailout funds. But one sign of a leader is getting results even when your actions are severely constrained. Lagarde has an immediate opportunity to prove herself, and it’s absolutely in Greece’s long-term interest to make her look tough and effective. She might well put these extra two days to very good use.
Source: Reuters
Tuesday, June 28, 2011
Finding Your Career Passion
Passion may seem an odd word choice when paired with career, but rest assured that one of the most important elements of personal happiness is being passionate about your career and your job. You do not want to be one of those people who live for the weekends and dread Sunday evenings. Life is too short to not love the work you do.
Will you love your work and your career as much as your passion for other things and people? Why not? It is completely possible to not only find the career that is a perfect match for your skills and interests, but one that also inspires you and fuels your desire to perform better, work harder.
Do you think you're too old, too entrenched in your current career? Or maybe too young and filled with too many ideas (or doubts) about what you want to do with your life? Or maybe a recent college grad who now realizes you chose the wrong major and career path?
Regardless of where you are in life -- where you are in your career -- there is always time to discover -- or rediscover -- what you're truly passionate about and turn that interest and passion into a new career.
Finding a career that you have a passion for is all about obtaining fulfillment. Some of these jobs may also not be the highest-paying jobs in the world, but career passion is not about the money, it's about how the job makes you feel inside. Loving your job and career will go a long way to loving your life -- so, take the time to find your career passion. The ideal scenario is one where you find a career that combines what you love to do with you're great at doing.
One of the best tools for clarifying your underlying interests, passions, and possible career paths is to sit down and reflect on a series of questions about how you have lived your life thus far. These questions are designed to really make you think and reflect on who you are as a person and what you want to become.
So, find a place where you can sit down for a while, grab a pen and some paper, and start the process. You don't have to respond to all these questions in one sitting… and it might be best, once you have answered all the questions, to take a break before you try to determine what your answers mean for your future. The only real rule for this exercise is to be honest with yourself.
About your favorite activities. What do you love to do in your free time? Try to brainstorm 5-8 activities. Don't count activities you have to do or are doing to make yourself look better to college admissions folks. Identify the activities that you truly enjoy. Once you're done writing them down, look for a theme.
About the skills that come naturally to you. What are the skills that come to you without thought and effort? Are you a math whiz who can easily add and subtract large numbers in your head? Can you hear a foreign language and immediately be able to replicate the inflections? What are some of the things you are a "natural" at? Brainstorm 3-5 of these skills.
About your favorite classes and subjects. Looking back through your school years, what were the classes -- or specific subjects -- that you enjoyed the most -- that inspired you to learn more? These do not need to be the classes in which you received the highest grades; rather, these are the classes that you actively attended because you loved the course material. Make a list of your favorite classes and subjects and look for some themes.
About your dream jobs and careers. If you could do any job in your life, what would you choose? You may have done this exercise in elementary school, but it's time to do it again; however, you can keep the same ones you chose then and any others that interest you now. The key is to ignore any roadblocks and simply choose dream careers. So, for example, even if you always wanted to be a fighter pilot but are not eligible because of health reasons, still put it on your list. Write down at least five careers that you think you would enjoy.
About discovering the types of things that energize you. What types of things energize you? Think about people, places, and activities. For example, if you are a diehard competitor who rises to the occasion no matter how tired you are, then competition should be on your list. If visiting the zoo is still something that gets you excited, put it on your list. Try to develop 3-5 examples.
About examining your lifelong interests. Examine the past 5 or 10 years for activities, subjects, or causes that you have been deeply involved with at a personal level. What are some of your long-term interests? For example, if you have always loved bicycling, have a poster of Lance Armstrong (or one of his wristbands), ride your bike as often as you can -- and for as long as you can remember, put biking on your list. Record your list of interests -- and then look for themes and connections.
About areas where you are already perceived as an expert. What are a couple of areas where your friends and family see you as an expert -- or at least as someone who is knowledgeable about the issue? Are you the person in your family whom everyone finds when they are having a problem with their computers? Are you an expert on all things related to baseball? Write down as many examples as you can think of where you are an expert.
About removing outside influences and pressures about what others think should be your career. Sometimes we think we want a career in a certain career field simply because we have been told so many times that we're perfect for it (even if we hate the thought of ever doing it). So... try and separate true interests from ones where you have been influenced by others -- or ones you are pursuing because you feel you should to please someone else. Write them down your true interests (if you have not done so already earlier).
About the values you most cherish. What are the values you hold dear and that help guide how you live your life? Make a list of them. This one may be the toughest for you to tackle, but think about the core values and principles with which you live your life. Typically, these are most influenced by your upbringing -- your family's values and your religious beliefs. This question is critical because you will never be happy or satisfied in a career that does not offer the same values that you possess.
About the subject areas you most enjoy reading about. When you are in a bookstore or the library, what are the subjects of the types of books and magazines that you are drawn to? What Websites do you visit the most and devote the most time to? These subjects can be related to your classes and schoolwork but should not be ones that you are required to read; rather, these are subjects you enjoy reading for your own pleasure and knowledge. Develop a list of your favorite subjects.
About discovering the best types of work environment for your personality. What type of work environment fits you best -- the fast-paced, always changing, or the slow-paced, predictable? If you're a student, this question might be a little premature for you to answer, but you could also think about the various classroom or teaching styles you have experienced in the past and see if you prefer one style over all others.
About reviewing your volunteering and community service experiences. What types of volunteering have you done or wish you have done? Again, as you make this list, think about experiences you would participate in even if you were not using them for college applications. What types of community service appeals to you? Look for a theme in terms of the types of organizations, types of people, or types of service you perform.
About examining the majors and prospective career paths taken by your friends. Make a list of the careers that your closest friends work in (or plan to work in). See anything that really grabs your interest? Write them down. Please note that this examination is not about copying what your friends are doing, but rather, because friendships are formed around common interests and bonds, examining their plans may provide some insight into your interests.
About understanding your deeply rooted beliefs -- your life's calling. Have your friends and family told you repeatedly that you would be excellent in a particular job or career? Do you have a deeply held desire for a particular career? Do you think about your calling in life? It sounds corny -- or maybe even sacrilegious -- but some people are born for certain careers. For me, it about being a teacher, about empowering people and making a difference in their lives. What's yours? Write them down.
About the types of things you currently do to help people. When your friends or family ask you for help, what are the types of things they ask you to help with? What are the types of things you wish people would ask you to do? If you're still struggling with this one, use this prompt: People I know often ask me for help with… Make a list.
About the goals in life you want to achieve. What are some of the big goals you want (or still want) to achieve in life? Do you want to save lives? Makes lots of money? Be a movie star? Live in a big house? Save the Earth? Become president? Think big here -- and think about the top couple of goals that mean the most to you right now. (Note, of all your answers, these will probably change the most as you move through life.) What types of careers might help you accomplish these goals? Write down answers for both goals and careers.
Finally, it's about putting together all your self-discovery results. Gather your assessments, preliminary research, and answers to the questions and see if you can find a couple of obvious themes running through them. Don't rush this process... contemplate. Make a final list of potential jobs and career paths.
Final Thoughts
Everyone deserves the opportunity to live a life of fulfillment and passion. Whether you are a student struggling to find a major or someone later in life looking for a new career and a fresh start, you can (or should) always find time to discover the right career for you -- the career that will fulfill your career passions and lead to a life of happiness and fulfillment. Look deeply inside yourself and remove all obstacles (real and perceived), and you will be on your way in your journey for finding your career passion, achieving career success, and living your life.
Source: quintcareers.com By by Randall S. Hansen, Ph.D.
Will you love your work and your career as much as your passion for other things and people? Why not? It is completely possible to not only find the career that is a perfect match for your skills and interests, but one that also inspires you and fuels your desire to perform better, work harder.
Do you think you're too old, too entrenched in your current career? Or maybe too young and filled with too many ideas (or doubts) about what you want to do with your life? Or maybe a recent college grad who now realizes you chose the wrong major and career path?
Regardless of where you are in life -- where you are in your career -- there is always time to discover -- or rediscover -- what you're truly passionate about and turn that interest and passion into a new career.
Finding a career that you have a passion for is all about obtaining fulfillment. Some of these jobs may also not be the highest-paying jobs in the world, but career passion is not about the money, it's about how the job makes you feel inside. Loving your job and career will go a long way to loving your life -- so, take the time to find your career passion. The ideal scenario is one where you find a career that combines what you love to do with you're great at doing.
One of the best tools for clarifying your underlying interests, passions, and possible career paths is to sit down and reflect on a series of questions about how you have lived your life thus far. These questions are designed to really make you think and reflect on who you are as a person and what you want to become.
So, find a place where you can sit down for a while, grab a pen and some paper, and start the process. You don't have to respond to all these questions in one sitting… and it might be best, once you have answered all the questions, to take a break before you try to determine what your answers mean for your future. The only real rule for this exercise is to be honest with yourself.
About your favorite activities. What do you love to do in your free time? Try to brainstorm 5-8 activities. Don't count activities you have to do or are doing to make yourself look better to college admissions folks. Identify the activities that you truly enjoy. Once you're done writing them down, look for a theme.
About the skills that come naturally to you. What are the skills that come to you without thought and effort? Are you a math whiz who can easily add and subtract large numbers in your head? Can you hear a foreign language and immediately be able to replicate the inflections? What are some of the things you are a "natural" at? Brainstorm 3-5 of these skills.
About your favorite classes and subjects. Looking back through your school years, what were the classes -- or specific subjects -- that you enjoyed the most -- that inspired you to learn more? These do not need to be the classes in which you received the highest grades; rather, these are the classes that you actively attended because you loved the course material. Make a list of your favorite classes and subjects and look for some themes.
About your dream jobs and careers. If you could do any job in your life, what would you choose? You may have done this exercise in elementary school, but it's time to do it again; however, you can keep the same ones you chose then and any others that interest you now. The key is to ignore any roadblocks and simply choose dream careers. So, for example, even if you always wanted to be a fighter pilot but are not eligible because of health reasons, still put it on your list. Write down at least five careers that you think you would enjoy.
About discovering the types of things that energize you. What types of things energize you? Think about people, places, and activities. For example, if you are a diehard competitor who rises to the occasion no matter how tired you are, then competition should be on your list. If visiting the zoo is still something that gets you excited, put it on your list. Try to develop 3-5 examples.
About examining your lifelong interests. Examine the past 5 or 10 years for activities, subjects, or causes that you have been deeply involved with at a personal level. What are some of your long-term interests? For example, if you have always loved bicycling, have a poster of Lance Armstrong (or one of his wristbands), ride your bike as often as you can -- and for as long as you can remember, put biking on your list. Record your list of interests -- and then look for themes and connections.
About areas where you are already perceived as an expert. What are a couple of areas where your friends and family see you as an expert -- or at least as someone who is knowledgeable about the issue? Are you the person in your family whom everyone finds when they are having a problem with their computers? Are you an expert on all things related to baseball? Write down as many examples as you can think of where you are an expert.
About removing outside influences and pressures about what others think should be your career. Sometimes we think we want a career in a certain career field simply because we have been told so many times that we're perfect for it (even if we hate the thought of ever doing it). So... try and separate true interests from ones where you have been influenced by others -- or ones you are pursuing because you feel you should to please someone else. Write them down your true interests (if you have not done so already earlier).
About the values you most cherish. What are the values you hold dear and that help guide how you live your life? Make a list of them. This one may be the toughest for you to tackle, but think about the core values and principles with which you live your life. Typically, these are most influenced by your upbringing -- your family's values and your religious beliefs. This question is critical because you will never be happy or satisfied in a career that does not offer the same values that you possess.
About the subject areas you most enjoy reading about. When you are in a bookstore or the library, what are the subjects of the types of books and magazines that you are drawn to? What Websites do you visit the most and devote the most time to? These subjects can be related to your classes and schoolwork but should not be ones that you are required to read; rather, these are subjects you enjoy reading for your own pleasure and knowledge. Develop a list of your favorite subjects.
About discovering the best types of work environment for your personality. What type of work environment fits you best -- the fast-paced, always changing, or the slow-paced, predictable? If you're a student, this question might be a little premature for you to answer, but you could also think about the various classroom or teaching styles you have experienced in the past and see if you prefer one style over all others.
About reviewing your volunteering and community service experiences. What types of volunteering have you done or wish you have done? Again, as you make this list, think about experiences you would participate in even if you were not using them for college applications. What types of community service appeals to you? Look for a theme in terms of the types of organizations, types of people, or types of service you perform.
About examining the majors and prospective career paths taken by your friends. Make a list of the careers that your closest friends work in (or plan to work in). See anything that really grabs your interest? Write them down. Please note that this examination is not about copying what your friends are doing, but rather, because friendships are formed around common interests and bonds, examining their plans may provide some insight into your interests.
About understanding your deeply rooted beliefs -- your life's calling. Have your friends and family told you repeatedly that you would be excellent in a particular job or career? Do you have a deeply held desire for a particular career? Do you think about your calling in life? It sounds corny -- or maybe even sacrilegious -- but some people are born for certain careers. For me, it about being a teacher, about empowering people and making a difference in their lives. What's yours? Write them down.
About the types of things you currently do to help people. When your friends or family ask you for help, what are the types of things they ask you to help with? What are the types of things you wish people would ask you to do? If you're still struggling with this one, use this prompt: People I know often ask me for help with… Make a list.
About the goals in life you want to achieve. What are some of the big goals you want (or still want) to achieve in life? Do you want to save lives? Makes lots of money? Be a movie star? Live in a big house? Save the Earth? Become president? Think big here -- and think about the top couple of goals that mean the most to you right now. (Note, of all your answers, these will probably change the most as you move through life.) What types of careers might help you accomplish these goals? Write down answers for both goals and careers.
Finally, it's about putting together all your self-discovery results. Gather your assessments, preliminary research, and answers to the questions and see if you can find a couple of obvious themes running through them. Don't rush this process... contemplate. Make a final list of potential jobs and career paths.
Final Thoughts
Everyone deserves the opportunity to live a life of fulfillment and passion. Whether you are a student struggling to find a major or someone later in life looking for a new career and a fresh start, you can (or should) always find time to discover the right career for you -- the career that will fulfill your career passions and lead to a life of happiness and fulfillment. Look deeply inside yourself and remove all obstacles (real and perceived), and you will be on your way in your journey for finding your career passion, achieving career success, and living your life.
Source: quintcareers.com By by Randall S. Hansen, Ph.D.
Monday, June 27, 2011
Dublin property prices rise for first time in three years
Property prices in Ireland's capital rose 0.4 percent in May compared with the previous month, the first rise since April 2008, data on Wednesday showed.
Irish property prices have nosedived on the back of an economic collapse and Dublin has been hardest hit, with the price of houses and apartments in the capital having roughly halved.
The Central Statistics Office warned that individual monthly figures could indicate short-term volatility rather than the start of a new upward trend.
Nationally, Irish residential property prices fell 1.2 percent in May compared to a 1 percent drop in April.
Source: reuters (Created by Carmel Crimmins)
Irish property prices have nosedived on the back of an economic collapse and Dublin has been hardest hit, with the price of houses and apartments in the capital having roughly halved.
The Central Statistics Office warned that individual monthly figures could indicate short-term volatility rather than the start of a new upward trend.
Nationally, Irish residential property prices fell 1.2 percent in May compared to a 1 percent drop in April.
Source: reuters (Created by Carmel Crimmins)
Wednesday, June 22, 2011
When is it the right time to change jobs?
There are a lot of things to consider when deciding when and why to move on. To begin with, you need to assess where you are now, what you have achieved and where you want to be in a few years time.
What do you enjoy about your present job? What don’t you enjoy? What do you feel is missing? What have you enjoyed about any previous roles you have done? What is the ideal situation for you? How will you know when you have achieved it? What obstacles are in your way? What can you do to overcome them?
Try to be systematic in answering these questions. Discuss them with friends, family or a professional career change expert and write them down. It’s always easier to make an accurate assessment of a situation if it’s clearly staring back at you from a piece of paper.
As well as your own personal motives for wanting to change jobs, there are plenty of other reasons out of your control that cause you to leave your current position, including:
potential financial difficulties for your employer
your company moving into an area of business you don’t agree with
a culture change in your company caused by a takeover or merger
a collapse in communication with your manager or colleagues
Spotting when the time is right
If you do decide to leave a job, quitting at the wrong time can hit you in the pocket if you’re not careful. For example, leaving just before your big bonus is due is not very sensible. It’s a good idea to think about whether you’re currently paid in advance or in arrears as any change may affect your monthly cash flow.
If you’ve got a holiday planned, wait until you get back before handing in your notice. Your new employer won’t take kindly to you booking two weeks off during your probation period.
Because so many people take time off during summer and winter, May and October are often prime times to look for a new job. In preparation for a lot of their workforce being away, employers look to train up new recruits to cover the anticipated gaps. On the other hand, you may be missing out on overtime opportunities in your current role if you leave before the holiday period is over.
Leave in a position of strength
Once you’ve made the decision to leave, make sure you have somewhere to go before handing in your notice. Don’t be tempted to storm off in a huff or make some sort of statement if it means leaving yourself vulnerable. It’s much easier to find a job when you already have one. Long periods of unemployment sends out a bad signal to a future employer, with all sorts of questions about why you left, and could leave you out of work for longer than you think.
Don’t ignore the consequences of quitting before you have a new job lined up, no matter how much you dislike where you’re working. Apart from looking bad as you start applying for new jobs, voluntarily leaving your former role could compromise your eligibility for unemployment benefits.
Money shouldn’t be the only reason
If money is the overriding issue in your desire for change, have the courage to address it before thinking about leaving. Find out the going rate for your job and, if you don’t feel you’re getting paid enough, ask for more. This can be a scary experience, but it could solve your problem. If your request is turned down, then you can take a view on whether it’s the right time to leave. If you have the option to think in the long term, you may even consider taking a pay cut, but moving to a company where the career progression and wage increases will occur more regularly.
Source: Monster.ie
What do you enjoy about your present job? What don’t you enjoy? What do you feel is missing? What have you enjoyed about any previous roles you have done? What is the ideal situation for you? How will you know when you have achieved it? What obstacles are in your way? What can you do to overcome them?
Try to be systematic in answering these questions. Discuss them with friends, family or a professional career change expert and write them down. It’s always easier to make an accurate assessment of a situation if it’s clearly staring back at you from a piece of paper.
As well as your own personal motives for wanting to change jobs, there are plenty of other reasons out of your control that cause you to leave your current position, including:
potential financial difficulties for your employer
your company moving into an area of business you don’t agree with
a culture change in your company caused by a takeover or merger
a collapse in communication with your manager or colleagues
Spotting when the time is right
If you do decide to leave a job, quitting at the wrong time can hit you in the pocket if you’re not careful. For example, leaving just before your big bonus is due is not very sensible. It’s a good idea to think about whether you’re currently paid in advance or in arrears as any change may affect your monthly cash flow.
If you’ve got a holiday planned, wait until you get back before handing in your notice. Your new employer won’t take kindly to you booking two weeks off during your probation period.
Because so many people take time off during summer and winter, May and October are often prime times to look for a new job. In preparation for a lot of their workforce being away, employers look to train up new recruits to cover the anticipated gaps. On the other hand, you may be missing out on overtime opportunities in your current role if you leave before the holiday period is over.
Leave in a position of strength
Once you’ve made the decision to leave, make sure you have somewhere to go before handing in your notice. Don’t be tempted to storm off in a huff or make some sort of statement if it means leaving yourself vulnerable. It’s much easier to find a job when you already have one. Long periods of unemployment sends out a bad signal to a future employer, with all sorts of questions about why you left, and could leave you out of work for longer than you think.
Don’t ignore the consequences of quitting before you have a new job lined up, no matter how much you dislike where you’re working. Apart from looking bad as you start applying for new jobs, voluntarily leaving your former role could compromise your eligibility for unemployment benefits.
Money shouldn’t be the only reason
If money is the overriding issue in your desire for change, have the courage to address it before thinking about leaving. Find out the going rate for your job and, if you don’t feel you’re getting paid enough, ask for more. This can be a scary experience, but it could solve your problem. If your request is turned down, then you can take a view on whether it’s the right time to leave. If you have the option to think in the long term, you may even consider taking a pay cut, but moving to a company where the career progression and wage increases will occur more regularly.
Source: Monster.ie
Monday, June 20, 2011
Why job hopping still works
It’s that time of year again. Bonuses have been paid and those looking for greener pastures have moved or are in the process of doing so.
A friend of mine recently changed jobs – not surprising in itself, except that he’d only been in his previous position for just over a year, and had only lasted two years in the one before that.
Come to think of it, a number of my other acquaintances also fit this bill: they are serial job hoppers. So what’s their plan and why do they do it?
Their time horizon is usually one to two years and with each move comes better pay and possibly a promotion. They are taking advantage of a tight job market, and by all accounts are doing well financially.
But is this a sound strategy?
If my inbox is anything to go by, the job market is heating up again, and it’s not just the usual, seasonal musical chairs.
I’ve recently received mass emails from recruitment agencies (who I haven’t heard from for ages) encouraging me to “take advantage of exceptional opportunities” or “pass on any industry contacts who would be interested”. These are usually for entry to mid-level roles, such as assistant relationship managers or business analysts.
Is it a good strategy to pursue these opportunities if you’ve only recently settled into your current role? I think that depends on what your goals are and (crucially) what stage in your career you are at.
At an entry level, you are still learning the business and potential employers might not mind whether you’ve done six years at the same employer, or three two-year stints in similar roles at different firms. Conversely, at senior levels, firms may want to see sustained achievement and commitment in previous roles, which is hard to demonstrate if you only stayed a year or two.
Moreover, compared with senior positions, hiring managers usually have greater discretion on pay decisions for junior jobs. Large percentage increases for less experienced bankers come off a lower base and are thus more likely to fly under the radar.
My job-hopping acquaintances have managed to both progress up the banking career ladder and increase their compensation in a relatively short time. For some, it seems that job hopping does work.
Written by The Banker, Source Efinancialcareers.com.sg
A friend of mine recently changed jobs – not surprising in itself, except that he’d only been in his previous position for just over a year, and had only lasted two years in the one before that.
Come to think of it, a number of my other acquaintances also fit this bill: they are serial job hoppers. So what’s their plan and why do they do it?
Their time horizon is usually one to two years and with each move comes better pay and possibly a promotion. They are taking advantage of a tight job market, and by all accounts are doing well financially.
But is this a sound strategy?
If my inbox is anything to go by, the job market is heating up again, and it’s not just the usual, seasonal musical chairs.
I’ve recently received mass emails from recruitment agencies (who I haven’t heard from for ages) encouraging me to “take advantage of exceptional opportunities” or “pass on any industry contacts who would be interested”. These are usually for entry to mid-level roles, such as assistant relationship managers or business analysts.
Is it a good strategy to pursue these opportunities if you’ve only recently settled into your current role? I think that depends on what your goals are and (crucially) what stage in your career you are at.
At an entry level, you are still learning the business and potential employers might not mind whether you’ve done six years at the same employer, or three two-year stints in similar roles at different firms. Conversely, at senior levels, firms may want to see sustained achievement and commitment in previous roles, which is hard to demonstrate if you only stayed a year or two.
Moreover, compared with senior positions, hiring managers usually have greater discretion on pay decisions for junior jobs. Large percentage increases for less experienced bankers come off a lower base and are thus more likely to fly under the radar.
My job-hopping acquaintances have managed to both progress up the banking career ladder and increase their compensation in a relatively short time. For some, it seems that job hopping does work.
Written by The Banker, Source Efinancialcareers.com.sg
Tuesday, June 14, 2011
Where Is FEAR Holding You Back?
“The enemy is fear. We think it is hate; but, it is fear.” Mahatma Gandhi
I recently heard this acronym at a seminar and it made so much sense.
FEAR = False Evidence Appearing Real
Then it was followed up with a statistic that 80% of our fears never happen.
Where In Life Is Fear Holding You Back?
Relationships? Career? Finances? Health?
Look at your life right now and where is fear holding you back?
Fear is a natural part of the human make up, especially when attempting something new. When ever we get out of our comfort zone its natural to have some trepidation about approaching something new, everyone experiences it. The question is; do you move forward and work through it and get over it or do you stand still, take no action and continue to stay in that place of comfort?What’s dangerous about letting our fears and self-doubt take over is that our thinking becomes limited about opportunities available to us. We get so fixated on those little things that we lose sight of all the good we gain in the process.
“Twenty years from now you will be more disappointed by the things that you didn’t do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover.” Mark Twain
What is holding you back?Whatever you answer, it will in many cases boil down to fear in some form.Now, fear can be useful to keep yourself alive. But many times, especially if you live a life where you have the possibility to read these words, fear is just a big obstacle in your path.
But what can you do about fear? How can you overcome it?In this article I’d like to explore a few of the timeless things that people have learned about that throughout the last few thousands of years.
1. Face your fear to become stronger.“I must not fear.Fear is the mind-killer.Fear is the little-death that brings total obliteration.I will face my fear.I will permit it to pass over me and through me.And when it has gone past I will turn the inner eye to see its path.Where the fear has gone there will be nothing.Only I will remain.”Frank Herbert
“You gain strength, courage and confidence by every experience in which you really stop to look fear in the face. You are able to say to yourself, ‘I have lived through this horror. I can take the next thing that comes along.’ You must do the thing you think you cannot do.”Eleanor Roosevelt
Every time you face a fear you gain the 3 important qualities that Eleanor Roosevelt mentions above. And the next thing that comes along will be easier to handle. And if you have to handle a big fear, whatever it may be, and later realise you actually survived it, many things in life you may have feared previously seem to shrink. Those fears become smaller. They might even disappear.You might think to yourself that what you thought was a fear before wasn’t that much to be afraid of at all. Everything is relative. And every triumph, problem, fear and experience becomes bigger or smaller depending to what you compare it to.But to gain a wider perspective of human experience and grow you really have to step up and face your fear.
2. Facing your fear can be surprisingly anticlimactic.“When a resolute young fellow steps up to the great bully, the world, and takes him boldly by the beard, he is often surprised to find it comes off in his hand, and that it was only tied on to scare away the timid adventurers.”Ralph Waldo Emerson
This is perhaps my favourite quote about fear. From a distance and in your mind things may seem very difficult and frightening. But when you actually step up and take action I think many of us have been surprised of how the beard of that bully just comes off. Why? Let’s move on to the next tip…
3. Take action and get busy.“Inaction breeds doubt and fear. Action breeds confidence and courage. If you want to conquer fear, do not sit home and think about it. Go out and get busy.” Dale Carnegie
“Worry gives a small thing a big shadow.” Swedish proverb
You can’t sit around think and waiting for courage and confidence to come knocking on the door. If you do, you may just experience the opposite effect. The more you think, the more fear you build within. We often build scary monsters in our heads.Maybe because of things we have learned from the news, the TV or the movies. Or we just think so much about something that our minds start to create totally unlikely horror scenarios of what may happen.As you may have noticed in your own life, 80-90 percent of what we worry about never really comes into reality. Instead things can become anticlimactic when we take action. The beard of the bully comes off surprisingly easily if we just step up and take action.And many times we get the courage we need after we have done what we feared. Not the other way around.
4. Fear is often based on unhelpful interpretation.“Fear: False Evidence Appearing Real.”UnknownAs humans we like to look for patterns. The problem is just that we often find negative and not so helpful patterns in our lives based on just one or two experiences. Or by misjudging situations. Or through some silly miscommunication. Be careful about the thoughts you think. When you get too identified with your negative thoughts you’ll believe anything they tell you. A more helpful practice may be to always reach for a better feeling thought from wherever you are at.
5. Don’t cling to your illusion of safety.
“Avoiding danger is no safer in the long run than outright exposure. The fearful are caught as often as the bold”Helen Keller
“Security is mostly a superstition. It does not exist in nature…. Life is either a daring adventure or nothing”.Helen Keller
Why do people sit on their hands? Is it just because they become paralyzed with fear? I’d say no. Another big reason why people don’t face their fears is because they think they are safe where they are right now. But the truth is what Keller says; safety is mostly a superstition. It is created in your mind to make you feel safe. But there is no safety out there really.
It is all uncertain and unknown.
You may get laid off.
Someone may break up with you and leave.
Illness will probably strike.
Death will certainly strike in your surroundings and at some point come to visit you too.
Who knows what will happen?
This superstition of safety is not just something negative. It’s also created by your mind so you can function in life. No point in going all paranoid about what could happen a minute from now day in and day out. But there is also not that much point in clinging to an illusion of safety. So you need to find balance where you don’t get obsessed by the uncertainty but also recognize that it is there and live accordingly.As you stop clinging to your safety life also becomes a whole lot more exciting and interesting. You are no longer as confined by an illusion and realize that you set your limits for what you can do and to a large extent create your own freedom in the world. You are no longer building walls to keep yourself safe as those walls wouldn’t protect you anyway.
6. Be curious.“Curiosity will conquer fear even more than bravery will.” James StephensWhen you are stuck in fear you are closed up. You tend to create division in your world and mind. You create barriers between you and other things/people.Curiosity on the other hand is filled with anticipation and enthusiasm. It opens you up. And when you are open and enthusiastic then you have more fun things to think about than focusing on your fear.Curiousness also opens you up to gain understanding of something. And with understanding vague, fog-like fears disappears.The emotions you experience are often as a result of what you focus your mind on. Change what you focus on about something and you can change your emotions about that thing.How do you become more curious? One way is to remember how life has become more fun in the past thanks to your curiosity and to remember all the cool things it helped to discover and experience. And then to work at it. Curiosity is a habit. The more curious you are the more curious you become. And over time it becomes more of a natural part of you.
7. Remove separation. Remove fear.“Who sees all beings in his own self, and his own self in all beings, loses all fear.”Isa Upanishad, Hindu Scripture
The ego wants to divide your world. It wants to create barriers, separation and loves to play the comparison game. The game where people are different compared to you, the game where you are better than someone and worse than someone else. All of that creates fear. Doing the opposite removes fear.That there is no real separation between beings, that we are one and the same, might sound a bit corny.But one thought you may want to try for a day is that everyone you meet is your friend.Another one is to see what parts of yourself you can see in someone you meet. And what parts of yourself you can see in him/her.There is often an underlying frame of mind in interactions. Either it asks us how we are different to this person. Or how we are the same as this person. The first frame is based in how the ego likes to judge people and create separation to strengthen itself (either through feeling better or more like a victim). The second one creates warmth, an openness and curiosity within. There is no place to focus on fear or judgment anymore.This is of course not easy, especially if you have held the first frame of mind for many years. But you can get insight into this by doing the rest of the things above. As you face your fears the barriers and separation you have built in your mind decreases. You come closer and feel more of a connection to other people.
With action, curiousness and understanding we come closer to each other. We gain a greater understanding of ourselves and others. And so it becomes easier to see them in you. And you in them
“Most people are about as happy as they make up their minds to be.”Abraham Lincoln
“You gain strength, courage and confidence by every experience in which you really stop to look fear in the face. You are able to say to yourself, ‘I have lived through this horror. I can take the next thing that comes along.’ You must do the thing you think you cannot do.” Eleanor Roosevelt
Author: Helen Roberts at CPG Executive Consulting.
I recently heard this acronym at a seminar and it made so much sense.
FEAR = False Evidence Appearing Real
Then it was followed up with a statistic that 80% of our fears never happen.
Where In Life Is Fear Holding You Back?
Relationships? Career? Finances? Health?
Look at your life right now and where is fear holding you back?
Fear is a natural part of the human make up, especially when attempting something new. When ever we get out of our comfort zone its natural to have some trepidation about approaching something new, everyone experiences it. The question is; do you move forward and work through it and get over it or do you stand still, take no action and continue to stay in that place of comfort?What’s dangerous about letting our fears and self-doubt take over is that our thinking becomes limited about opportunities available to us. We get so fixated on those little things that we lose sight of all the good we gain in the process.
“Twenty years from now you will be more disappointed by the things that you didn’t do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover.” Mark Twain
What is holding you back?Whatever you answer, it will in many cases boil down to fear in some form.Now, fear can be useful to keep yourself alive. But many times, especially if you live a life where you have the possibility to read these words, fear is just a big obstacle in your path.
But what can you do about fear? How can you overcome it?In this article I’d like to explore a few of the timeless things that people have learned about that throughout the last few thousands of years.
1. Face your fear to become stronger.“I must not fear.Fear is the mind-killer.Fear is the little-death that brings total obliteration.I will face my fear.I will permit it to pass over me and through me.And when it has gone past I will turn the inner eye to see its path.Where the fear has gone there will be nothing.Only I will remain.”Frank Herbert
“You gain strength, courage and confidence by every experience in which you really stop to look fear in the face. You are able to say to yourself, ‘I have lived through this horror. I can take the next thing that comes along.’ You must do the thing you think you cannot do.”Eleanor Roosevelt
Every time you face a fear you gain the 3 important qualities that Eleanor Roosevelt mentions above. And the next thing that comes along will be easier to handle. And if you have to handle a big fear, whatever it may be, and later realise you actually survived it, many things in life you may have feared previously seem to shrink. Those fears become smaller. They might even disappear.You might think to yourself that what you thought was a fear before wasn’t that much to be afraid of at all. Everything is relative. And every triumph, problem, fear and experience becomes bigger or smaller depending to what you compare it to.But to gain a wider perspective of human experience and grow you really have to step up and face your fear.
2. Facing your fear can be surprisingly anticlimactic.“When a resolute young fellow steps up to the great bully, the world, and takes him boldly by the beard, he is often surprised to find it comes off in his hand, and that it was only tied on to scare away the timid adventurers.”Ralph Waldo Emerson
This is perhaps my favourite quote about fear. From a distance and in your mind things may seem very difficult and frightening. But when you actually step up and take action I think many of us have been surprised of how the beard of that bully just comes off. Why? Let’s move on to the next tip…
3. Take action and get busy.“Inaction breeds doubt and fear. Action breeds confidence and courage. If you want to conquer fear, do not sit home and think about it. Go out and get busy.” Dale Carnegie
“Worry gives a small thing a big shadow.” Swedish proverb
You can’t sit around think and waiting for courage and confidence to come knocking on the door. If you do, you may just experience the opposite effect. The more you think, the more fear you build within. We often build scary monsters in our heads.Maybe because of things we have learned from the news, the TV or the movies. Or we just think so much about something that our minds start to create totally unlikely horror scenarios of what may happen.As you may have noticed in your own life, 80-90 percent of what we worry about never really comes into reality. Instead things can become anticlimactic when we take action. The beard of the bully comes off surprisingly easily if we just step up and take action.And many times we get the courage we need after we have done what we feared. Not the other way around.
4. Fear is often based on unhelpful interpretation.“Fear: False Evidence Appearing Real.”UnknownAs humans we like to look for patterns. The problem is just that we often find negative and not so helpful patterns in our lives based on just one or two experiences. Or by misjudging situations. Or through some silly miscommunication. Be careful about the thoughts you think. When you get too identified with your negative thoughts you’ll believe anything they tell you. A more helpful practice may be to always reach for a better feeling thought from wherever you are at.
5. Don’t cling to your illusion of safety.
“Avoiding danger is no safer in the long run than outright exposure. The fearful are caught as often as the bold”Helen Keller
“Security is mostly a superstition. It does not exist in nature…. Life is either a daring adventure or nothing”.Helen Keller
Why do people sit on their hands? Is it just because they become paralyzed with fear? I’d say no. Another big reason why people don’t face their fears is because they think they are safe where they are right now. But the truth is what Keller says; safety is mostly a superstition. It is created in your mind to make you feel safe. But there is no safety out there really.
It is all uncertain and unknown.
You may get laid off.
Someone may break up with you and leave.
Illness will probably strike.
Death will certainly strike in your surroundings and at some point come to visit you too.
Who knows what will happen?
This superstition of safety is not just something negative. It’s also created by your mind so you can function in life. No point in going all paranoid about what could happen a minute from now day in and day out. But there is also not that much point in clinging to an illusion of safety. So you need to find balance where you don’t get obsessed by the uncertainty but also recognize that it is there and live accordingly.As you stop clinging to your safety life also becomes a whole lot more exciting and interesting. You are no longer as confined by an illusion and realize that you set your limits for what you can do and to a large extent create your own freedom in the world. You are no longer building walls to keep yourself safe as those walls wouldn’t protect you anyway.
6. Be curious.“Curiosity will conquer fear even more than bravery will.” James StephensWhen you are stuck in fear you are closed up. You tend to create division in your world and mind. You create barriers between you and other things/people.Curiosity on the other hand is filled with anticipation and enthusiasm. It opens you up. And when you are open and enthusiastic then you have more fun things to think about than focusing on your fear.Curiousness also opens you up to gain understanding of something. And with understanding vague, fog-like fears disappears.The emotions you experience are often as a result of what you focus your mind on. Change what you focus on about something and you can change your emotions about that thing.How do you become more curious? One way is to remember how life has become more fun in the past thanks to your curiosity and to remember all the cool things it helped to discover and experience. And then to work at it. Curiosity is a habit. The more curious you are the more curious you become. And over time it becomes more of a natural part of you.
7. Remove separation. Remove fear.“Who sees all beings in his own self, and his own self in all beings, loses all fear.”Isa Upanishad, Hindu Scripture
The ego wants to divide your world. It wants to create barriers, separation and loves to play the comparison game. The game where people are different compared to you, the game where you are better than someone and worse than someone else. All of that creates fear. Doing the opposite removes fear.That there is no real separation between beings, that we are one and the same, might sound a bit corny.But one thought you may want to try for a day is that everyone you meet is your friend.Another one is to see what parts of yourself you can see in someone you meet. And what parts of yourself you can see in him/her.There is often an underlying frame of mind in interactions. Either it asks us how we are different to this person. Or how we are the same as this person. The first frame is based in how the ego likes to judge people and create separation to strengthen itself (either through feeling better or more like a victim). The second one creates warmth, an openness and curiosity within. There is no place to focus on fear or judgment anymore.This is of course not easy, especially if you have held the first frame of mind for many years. But you can get insight into this by doing the rest of the things above. As you face your fears the barriers and separation you have built in your mind decreases. You come closer and feel more of a connection to other people.
With action, curiousness and understanding we come closer to each other. We gain a greater understanding of ourselves and others. And so it becomes easier to see them in you. And you in them
“Most people are about as happy as they make up their minds to be.”Abraham Lincoln
“You gain strength, courage and confidence by every experience in which you really stop to look fear in the face. You are able to say to yourself, ‘I have lived through this horror. I can take the next thing that comes along.’ You must do the thing you think you cannot do.” Eleanor Roosevelt
Author: Helen Roberts at CPG Executive Consulting.
Tuesday, June 7, 2011
The International Monetary Fund backed the British government's plans to reduce the budget deficit on Monday, but said tax cuts or more quantitative easing may be needed if growth proves persistently weak.
Britain's economy is likely to grow by around 1.5 percent in 2011 before achieving growth of about 2.5 percent in the medium term, the IMF estimated. But it acknowledged that there were major risks to this outlook, as for all big economies.
These risks include euro zone debt problems, volatile commodity prices, the health of Britain's housing market and the amount of spare capacity in the UK economy.
Chancellor George Osborne welcomed the IMF's annual economic assessment, which comes after he dismissed criticism from more than 50 left-leaning economists over the weekend that his plans risked derailing economic recovery.
If the economy grew as expected, the government and Bank of England policy looked about right, the IMF said.
"We consider the current deviations from forecast represent temporary factors and that the current policy mix strikes us as appropriate," IMF Acting Managing Director John Lipsky told a news conference after the report was published.
Economists saw little change in the tone of the IMF's assessment of the UK, despite the fact that growth had been slower than the IMF had forecast when it made its last so-called Article IV report in September.
"All told ... the IMF statement gives the Treasury a useful thumbs-up," said David Tinsley, a UK economist at National Australia Bank.
The new 2011 forecast is slightly below the 1.7 percent estimated in the IMF's April set of global economic forecasts, and the 2 percent forecast in the September report.
HIGH UNEMPLOYMENT
Lipsky said unemployment remained "unacceptably high" and encouraged the government to press ahead with increasing the retirement age, cutting public sector pensions and relaxing planning rules to boost the economy.
Business Secretary Vince Cable warned trade unions earlier on Monday that the government would legislate to make it harder for them to call strikes if they opposed this type of plan.
Lipsky did not back opposition calls for the government to set out a clearer "Plan B" to slow cuts if growth falters.
However, the IMF did say that if growth proved persistently slow and inflation fell, then the government should think about tax cuts to help the poor and boost investment, and the Bank of England would need to consider more quantitative easing.
Nonetheless, action to boost the economy in a renewed downturn depended on inflation being under control, the IMF said.
If inflation remained high and growth slow, the government and BoE would be in a trickier position. While high inflation due to further temporary spikes in commodity prices could probably be ignored, inflation caused by a shortage of capacity in the British economy would need higher interest rates.
"A narrower output gap would also imply a higher than currently estimated structural deficit and therefore would require further fiscal tightening over the medium term," the IMF said.
Inflation was likely to remain above 4 percent this year before falling back to near its 2 percent target by the end of next year, the IMF added. If growth strengthened as expected, the BoE would probably also need to raise interest rates at a gradual pace, it said. Faster growth would require a faster pace of rate rises.
Source: Reuters By David Milliken
These risks include euro zone debt problems, volatile commodity prices, the health of Britain's housing market and the amount of spare capacity in the UK economy.
Chancellor George Osborne welcomed the IMF's annual economic assessment, which comes after he dismissed criticism from more than 50 left-leaning economists over the weekend that his plans risked derailing economic recovery.
If the economy grew as expected, the government and Bank of England policy looked about right, the IMF said.
"We consider the current deviations from forecast represent temporary factors and that the current policy mix strikes us as appropriate," IMF Acting Managing Director John Lipsky told a news conference after the report was published.
Economists saw little change in the tone of the IMF's assessment of the UK, despite the fact that growth had been slower than the IMF had forecast when it made its last so-called Article IV report in September.
"All told ... the IMF statement gives the Treasury a useful thumbs-up," said David Tinsley, a UK economist at National Australia Bank.
The new 2011 forecast is slightly below the 1.7 percent estimated in the IMF's April set of global economic forecasts, and the 2 percent forecast in the September report.
HIGH UNEMPLOYMENT
Lipsky said unemployment remained "unacceptably high" and encouraged the government to press ahead with increasing the retirement age, cutting public sector pensions and relaxing planning rules to boost the economy.
Business Secretary Vince Cable warned trade unions earlier on Monday that the government would legislate to make it harder for them to call strikes if they opposed this type of plan.
Lipsky did not back opposition calls for the government to set out a clearer "Plan B" to slow cuts if growth falters.
However, the IMF did say that if growth proved persistently slow and inflation fell, then the government should think about tax cuts to help the poor and boost investment, and the Bank of England would need to consider more quantitative easing.
Nonetheless, action to boost the economy in a renewed downturn depended on inflation being under control, the IMF said.
If inflation remained high and growth slow, the government and BoE would be in a trickier position. While high inflation due to further temporary spikes in commodity prices could probably be ignored, inflation caused by a shortage of capacity in the British economy would need higher interest rates.
"A narrower output gap would also imply a higher than currently estimated structural deficit and therefore would require further fiscal tightening over the medium term," the IMF said.
Inflation was likely to remain above 4 percent this year before falling back to near its 2 percent target by the end of next year, the IMF added. If growth strengthened as expected, the BoE would probably also need to raise interest rates at a gradual pace, it said. Faster growth would require a faster pace of rate rises.
Source: Reuters By David Milliken
Dell to create 150 new jobs in Ireland
Computer giant Dell is to create 150 jobs at its operations in Dublin and the mid-west over the next two years, it was announced today.
Dell has about 2,300 staff in Ireland: 1,000 in Limerick in service and support and 1,300 in Cherrywood, Co Dublin involved in direct sales and telephone-support operations.
ICT Ireland, the IBEC group that represents the high-tech sector, today welcomed the announcement saying Ireland remains a prime location for technology investment
ICT Ireland director Paul Sweetman said: ?Today?s announcement of 150 jobs in the cloud-computing space highlights Ireland?s potential to be a global leader in cloud technology?.
Dell has about 2,300 staff in Ireland: 1,000 in Limerick in service and support and 1,300 in Cherrywood, Co Dublin involved in direct sales and telephone-support operations.
ICT Ireland, the IBEC group that represents the high-tech sector, today welcomed the announcement saying Ireland remains a prime location for technology investment
ICT Ireland director Paul Sweetman said: ?Today?s announcement of 150 jobs in the cloud-computing space highlights Ireland?s potential to be a global leader in cloud technology?.
Thursday, June 2, 2011
The U.S. central bank's two rounds of asset purchases will boost GDP by about 3 percent and add about 3 million jobs by the second half of next year, a top Federal Reserve official said on Wednesday
The long-term securities programs, which began in 2008 and are set to end this month, also probably kept the United States from falling into deflation, San Francisco Federal Reserve Bank president John Williams said in remarks prepared for delivery at the regional Fed bank's headquarters to the American Economics Association.
"Of course, once the economy improves sufficiently, the Fed will need to raise interest rates to keep the economy from overheating and excessive inflation from emerging," he said.
The Fed can do so by raising the interest it pays on excess bank reserves along with its short-term interest-rate target, and by reducing its long-term securities holdings, added Williams, who is not a voting member on the FOMC.
Williams' vigorous defense of the Fed's so-called quantitative easing comes as a flurry of weak economic data has raised questions over whether the Fed's current $600 billion round of bond-buying will be enough to keep the recovery on track.
U.S. companies hired far fewer workers than expected in May, manufacturing output slowed to its lowest level since 2009, consumers are less optimistic, and housing prices sank to a new record low.
Futures traders have ratcheted up bets that the Fed will keep rates lower for longer, and trading suggests they do not expect the Fed to raise rates until next June at the earliest.
The Fed's latest round of asset-buying, which began last November, came under sharp criticism from politicians at home and abroad, who said it was probably fueling inflation.
Williams did not comment on the state of the U.S. economy, except to say that the Fed's asset purchases have improved financial conditions and helped stimulate economic activity.
Although the Fed's asset-buying programs boosted excess reserves at banks, the Fed can keep those reserves from fueling inflation by raising the interest it pays on them, Williams said.
Source: Reuters(Reporting by Ann Saphir; Editing by Ramya Venugopal)
"Of course, once the economy improves sufficiently, the Fed will need to raise interest rates to keep the economy from overheating and excessive inflation from emerging," he said.
The Fed can do so by raising the interest it pays on excess bank reserves along with its short-term interest-rate target, and by reducing its long-term securities holdings, added Williams, who is not a voting member on the FOMC.
Williams' vigorous defense of the Fed's so-called quantitative easing comes as a flurry of weak economic data has raised questions over whether the Fed's current $600 billion round of bond-buying will be enough to keep the recovery on track.
U.S. companies hired far fewer workers than expected in May, manufacturing output slowed to its lowest level since 2009, consumers are less optimistic, and housing prices sank to a new record low.
Futures traders have ratcheted up bets that the Fed will keep rates lower for longer, and trading suggests they do not expect the Fed to raise rates until next June at the earliest.
The Fed's latest round of asset-buying, which began last November, came under sharp criticism from politicians at home and abroad, who said it was probably fueling inflation.
Williams did not comment on the state of the U.S. economy, except to say that the Fed's asset purchases have improved financial conditions and helped stimulate economic activity.
Although the Fed's asset-buying programs boosted excess reserves at banks, the Fed can keep those reserves from fueling inflation by raising the interest it pays on them, Williams said.
Source: Reuters(Reporting by Ann Saphir; Editing by Ramya Venugopal)
Wednesday, June 1, 2011
Kennedy-Wilson Holdings, Inc. To Acquire Bank Of Ireland Real Estate Investment Management
Kennedy-Wilson Holdings, Inc. announced the acquisition of Bank of Ireland Real Estate Investment Management (BOI REIM), a business that manages commercial real estate on behalf of Bank of Ireland clients. The acquisition, carried out in conjunction with BOI REIM's senior management, will see the establishment of a new entity, Kennedy Wilson Europe. The Company will operate from Dublin and London and serve as the base for Kennedy Wilson to develop its asset management and real estate investment business throughout Europe. Terms of the transaction were not disclosed.
Source Reuters
Source Reuters
Job Growth Picks Up Pace
Recruiters filled permanent vacancies at the fastest rate in six months in January, according to a survey released on Wednesday, pointing to growing confidence among employers.
"Permanent staff placements and temporary/contract staff billings both rose at faster rates in January," the Recruitment and Employment Confederation said in a statement.
The REC/KPMG permanent placements index rose to a six-month high of 57.4 in January from 54.9 in December. The temporary index rose to a seven-month high of 56.5 from 52.8 the previous month.
Index levels above 50 indicate net hiring among the panel of 400 recruitment companies polled each month.
Britain's coalition government hopes the private sector will be able to create extra jobs to sustain growth as spending cuts begin to bite this year.
"The latest figures are encouraging," said Bernard Brown, partner and head of business services at accountancy firm KPMG, which sponsors the survey.
"However, it is too early to speculate whether these are the signs of a private sector-led recovery. With looming public sector job cuts, the VAT (sales tax) rise and slowing economic growth, the UK job market is likely to remain volatile over the coming months," he added.
Average salaries for permanent staff continued to rise in January, but their rate of growth eased slightly, the survey showed.
The rates of pay index for permanent staff slipped to 54.1 in January from 54.5 in December. The rate for temporary workers slipped further, falling to 49.5 from 51.3 in the previous month.
Source: Reuters
"Permanent staff placements and temporary/contract staff billings both rose at faster rates in January," the Recruitment and Employment Confederation said in a statement.
The REC/KPMG permanent placements index rose to a six-month high of 57.4 in January from 54.9 in December. The temporary index rose to a seven-month high of 56.5 from 52.8 the previous month.
Index levels above 50 indicate net hiring among the panel of 400 recruitment companies polled each month.
Britain's coalition government hopes the private sector will be able to create extra jobs to sustain growth as spending cuts begin to bite this year.
"The latest figures are encouraging," said Bernard Brown, partner and head of business services at accountancy firm KPMG, which sponsors the survey.
"However, it is too early to speculate whether these are the signs of a private sector-led recovery. With looming public sector job cuts, the VAT (sales tax) rise and slowing economic growth, the UK job market is likely to remain volatile over the coming months," he added.
Average salaries for permanent staff continued to rise in January, but their rate of growth eased slightly, the survey showed.
The rates of pay index for permanent staff slipped to 54.1 in January from 54.5 in December. The rate for temporary workers slipped further, falling to 49.5 from 51.3 in the previous month.
Source: Reuters
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