Fewer new jobs and more competition in City, firm says
The number of qualified staff for each vacancy in the City of London is at the highest for two years, according to a financial services recruitment firm.
There are 5 qualified candidates for each job, compared to 1.7 at the start of the year, Astbury Marsden said.
In November, the firm said there were 2,670 new vacancies in the City - fewer than the previous month.
Banks have been cutting jobs as the weak UK economy and eurozone debt crisis takes it toll.
The Royal Bank of Scotland, for example, has cut 27,500 jobs since the beginning of the financial crisis.
Lloyds Banking Group has also cut 27,500 jobs since 2009 and in June said that it would cut 15,000 more.
Astbury Marsden said there was a high number of investment bank staff in the capital's financial area searching for new roles, and a decrease in the number of new jobs.
"It means they are being pitted against more intense competition then they may have faced for years," said Mark Cameron, chief operating officer at Astbury Marsden.
"However, this is the silver lining for those few institutions or departments looking to hire; they should be able to pick a higher calibre of candidate from a wider pool."
It said the number of qualified staff for each City vacancy is at its highest level since December 2008 - the height of the financial crisis.
Banking and financial services such as insurance account for nearly 20% of London's total income, and around 10% for Great Britain, according to the City of London Corporation.
It said that there were about 349,200 people employed in the sector in 2008.
Sarkozy and Merkel kick off week of euro crisis talks
French President Nicolas Sarkozy and German Chancellor Angela Merkel are to meet to agree on joint proposals aimed at resolving the eurozone debt crisis.
They will take their ideas to an EU summit on Friday that is being seen as crucial for the single currency.
Germany favours strict EU central control while France wishes to preserve more national sovereignty.
Meanwhile, two badly-hit Eurozone countries, Italy and Ireland, are preparing tighter austerity measures.
In Italy, Prime Minister Mario Monti is due to seek approval for his government's plans in parliament.
Taxes on the assets of the wealthy will go up, as will pension ages. There will be a major drive to tackle tax evasion.
And Irish Prime Minister Enda Kenny has said the population must prepare for a tough budget this week.
Public spending will be cut by 2.2bn euros (£1.9bn) a year and taxes raised by 1.5bn euros, with VAT increasing to 23%.
Treaty talk
Monday's Franco-German meeting in Paris kicks off a week of meetings involving European leaders, the European Central Bank (ECB) and US Treasury Secretary Timothy Geithner, culminating in Brussels on Friday with an EU summit.
With financial markets putting pressure on some of the eurozone's largest - and most highly indebted - nations, President Sarkozy said the stakes were high.
"What will remain of Europe if the euro disappears?" he asked. "Nothing."
France and Germany must play a key role to ensure "a zone of stability", he said last week.
"We must confront those who doubt the stability of the euro and speculate on its break-up with total solidarity."
Mrs Merkel has promised "concrete steps towards a fiscal union" - in effect close integration of the tax-and-spend polices of individual eurozone countries, with Brussels imposing penalties on members that break the rules.
"We need budget discipline and an effective crisis management mechanism," she said. "So we need to change the treaties or create new treaties."
Mr Sarkozy faces an election early next year and is under pressure not to cede sovereignty to unelected officials in Brussels.
Mrs Merkel and Mr Sarkozy have been working so closely in recent weeks that commentators have taken to calling the two Merkozy.
Treaty change could take many months, but the hope is that a strong, unified expression of intent on Friday could reassure markets enough to lower borrowing costs for Italy, Spain and other countries with high debt and spluttering economies.
If governments can not pay their debts - if they default - the resulting shock could bring down the banks that lend to them and create another global economic crash.
US Treasury Secretary Timothy Geithner's presence in Europe this week for several meetings with leaders is a measure of US concern that Europe's woes could spread beyond the continent.
On Thursday the ECB holds its monthly policy meeting. It has come under pressure to do more to ease Europe's debt crisis but has ruled out the idea of "eurobonds" backed by all eurozone members.
Germany is against the notion as is the ECB itself because such a move could lessen pressure on governments to control their spending.
However, ECB head Mario Draghi has hinted that the bank could take more aggressive action to help governments.
The ECB has been buying modest amounts of government bonds on the secondary market but could step that up, which would stabilise or lower borrowing costs.
Tiger Woods ends two-year title drought
Tiger Woods won his first event for two years at the Chevron World Challenge, finishing birdie-birdie to see off rival Zach Johnson on the 18th hole.
Woods was one behind overnight leader Johnson going down the 17th but sunk a 15-foot birdie putt to draw level.
Johnson missed his birdie attempt on 18 before Woods drained a six-footer to clinch his first title since the Australian Masters in November 2009.
Paul Casey closed with a 69, like Woods, to finish third on five under.
"It feels great," said a jubilant Woods after his spectacular finish ended a run of 26 tournaments without a victory.
"It was a lot of fun coming down the stretch. Zach put a lot of pressure on me. He turned the tide [with birdie on 16], next thing I am one down playing the last couple of holes. Then I made two good putts."
Fourteen-time major winner Woods's three-under-par 69 at Sherwood Country Club meant he secured the 95th tournament win of his career and his first in the United States since the BMW Championship in September 2009.
Woods' world ranking plummeted from number one to 52nd while he struggled with fitness and form and his private life imploded.
And asked to describe his feelings after ending his lengthy title drought, the 35-year-old replied: "It feels awesome, whatever that is."
Johnson, seeking his first victory since last year's Colonial Invitational, was left to curse his form on the greens after closing with a 71.
The World Challenge event was founded by Woods and his charitable foundation in 1999 as a fundraiser.
Woods, who has now won it five times, lost in a play-off last year to Northern Ireland's Graeme McDowell.
Italy cabinet meets to discuss austerity measures
Prime Minister Mario Monti has speeded up plans to approve a number of austerity measures to bolster Italy's economy and head off the crisis threatening to engulf the eurozone.
At a cabinet meeting, called 24 hours ahead of schedule, he was expected to unveil new austerity measures.
They are thought to include savings, tax increases and pension reform set to force more Italians to work longer.
They come at a time of grave concern about the state of Italy's finances.
Italy has recently been compelled to pay the kind of very high rates of interest that eventually forced Greece to call for an international bailout.
Mr Monti wants to show the outside world he is determined to put this country back on a sound financial footing, and he clearly hopes this will ease the intense pressure on Italy in the money markets, says the BBC's Alan Johnston in Rome.
On Monday, German Chancellor Angela is due to meet French President Nicolas Sarkozy in Paris to outline joint proposals on closer ties between eurozone economies which they announced last week.
Eurozone leaders have warned the bloc is entering a decisive phase in its bid to resolve the debt crisis. They are due to meet on Thursday and Friday in Brussels to try to agree a broader rescue plan for the bloc.
Mr Monti, a former EU commissioner, said there would be no room for error at the summit and that financial markets would punish inaction.
"The choice is between adopting tough austerity measures and starting the euro rescue, or Italy not being able to stand on its feet, and we risk the collapse of the euro," said Emma Marcegaglia, head of Italian employers' lobby Confindustria.
Putin's United Russia party suffers exit poll blow
An exit poll for Russia's parliamentary elections points to a sharp drop in support for Prime Minister Vladimir Putin's United Russia party.
The poll for Russian state TV showed 48.5% support for United Russia, down from 64% in 2007.
That would give Mr Putin's party 220 members in the 450-seat lower house of parliament, down from 315.
Russia's only independent monitoring group, Golos, logged 5,300 complaints alleging violations of election laws.
Another exit poll, by state pollster VTSIOM, gave United Russia 48%, while one by the FOM group put it at 46%.
If the result is confirmed, United Russia could lose its current two-thirds majority which allowed it to change the constitution unchallenged.
Nonetheless, party chairman Boris Gryzlov says the party hopes to get a majority in the Duma.
Exit polls suggest the Communists will take second place, with about 20% of the vote.
"We have received thousands of calls from regional offices, confirming massive violations and fraud," said party deputy head Ivan Melnikov on the party website.
"Throughout the day, it was like receiving reports from a war zone."
The BBC's Steve Rosenberg, in Moscow, says if confirmed, the result will be a significant embarrassment to Mr Putin, three months before he is scheduled to run again for the Russian presidency.
He says opposition parties are alleging widespread fraud, including the stuffing of ballot boxes and voters being offered money.
Source-BBC
Prosecutor files assault report against TCI AG, Huw Shepheard
A senior lawyer in the Turks and Caicos Islands Attorney General’s Office has made a report to the police alleging that he was physically assaulted by Attorney General Huw Shepheard.
Police sources confirmed to that an official report was made by veteran prosecutor Leonard Franklyn who claimed that the incident occurred on Thursday December 1st, in the Attorney General’s office.
RTC News understands that Franklyn has since been placed on administrative leave with full pay, but Government officials are saying that this disciplinary action was imposed because of a heated exchange which occurred prior to the alleged incident, and not because Franklyn reported the AG to the police.
In a press statement, spokesman in the Governor’s Office Neil Smith, said: “We can confirm that a member of the Attorney General’s Chambers has been placed on administrative leave under Ordinance 8.1.11 on full pay and until further notice, following an incident yesterday, Thursday, 1 December 2011. The Royal Turks and Caicos Islands Police Force is investigating a complaint in relation to this incident.”
Police officials say they will have to take formal statements from both Shepheard and Franklyn and do a thorough investigation in order to determine whether any charges will be brought.
Shepheard, a barrister from the UK, has held the office of Crown Counsel and served as Acting Deputy Solicitor-General in the Bermudan Attorney General's Chambers since 2007.
His previous positions have included work for a local authority in Wales and within central government for Her Majesty's Procurators-General and Treasury Solicitor in London.
Franklyn, native of St. Vincent who also holds citizenship of the Turks and Caicos Islands, has been in the AG’s Chambers for more than two decades.
2011 Hurricane Season Ends
The Department of Disaster Management and Emergencies (DDME) marks the official end of the 2011 Atlantic Hurricane Season by reminding TCI residents how blest we were that there were no lives lost, as where there is life there is hope.
The TCI was threatened on several occasions, but the only impact came from Hurricane Irene which resulted in significant flooding across the country, especially on Providenciales. A number of lessons were learnt from TCIG’s response activities and these are being targeted for implementation by the beginning of the next hurricane season.
Key among them is greater utilisation of TCIG human resources in disaster mitigation and a review of government’s vehicle use policy.
In the meantime, the DDME would like to highlight the participation of a team of TCIG professionals in the Caribbean Comprehensive Disaster Management Conference in Trinidad and Tobago December 5th to 9th. TCI Youth Parliament Debaters are also attending the conference as defending champions and will compete against a regional team selected through an elimination process. We wish all those participants good luck in representing the TCI.
The DDME encourages all residents of the TCI to continue to remember the importance of being prepared as hazardous events can occur anytime of the year as with the Haitian Earthquake which occurred in January.
CHTA STATEMENT CONCERNING UK AIR PASSENGER DUTY
The Caribbean Hotel & Tourism Association (CHTA) is deeply disappointed by the UK Treasury's announcement on November 29, 2011 that Air Passenger Duty rates to the Caribbean out of the UK will increase by 8% starting in April 2012.
The UK Government will publish its response to the consultation on APD reform on December 6, 2011. This document will set out the UK's view on the representations that have been made by the Caribbean, its airline partners, the community in the UK and others.
CHTA will wait until publication of this document before making a full statement.
Data suggests that APD increases in the past two years have contributed significantly to falling arrivals from the UK, a prime source market for visitors for many Caribbean destinations.
Any failure by the British Government to address the discriminatory nature of the banding system will be deeply concerning and will justify the strongest possible condemnation by Caribbean Governments and territories.
Beyonce Reveals Baby Details on ABC’s 20/20
In a recent interview with Katie Couric on ABC’s 20/20, Beyonce discussed her pregnancy, including rumors that she was wearing a fake baby bump, opening her own production company, and her new concert DVD “Live at Roseland: Elements of 4.”
The DVD includes footage from the four sold out performances at New York City’s Roseland Ballroom, as well as other intimate footage and clips from earlier moments in her career including her childhood. Beyonce also shared that she was editing parts of it herself using Final Cut Pro at her newly opened production company, The Parkwood Group, which she toured with Couric during the show.
During the interview, Beyonce also spoke on announcing her pregnancy at the MTV Video Music Awards, saying it was only fitting to make the announcement on stage and in front of millions watching at home, as it was hard to keep such big news to herself. In regards to the positive reaction she received after wordlessly announcing the pregnancy on stage by rubbing her stomach, she said it was a “beautiful feeling,” admitting that she cried tears of joy after she went off stage to hug her mother and husband, Jay-Z. She also added “you can’t even imagine” how excited her husband is and that for them “the time can’t come fast enough.”
Beyonce also used the interview as a platform to make light of and deny rumors of her alleged bizarre pregnancy cravings, which included ice cream covered in hot chili sauce. She also denied rumors that she was wearing a fake baby bump, saying that these “ridiculous and over the top” rumors were so far off that they didn’t even bother her. She remained mum on the gender of the baby, even when Couric brought up how one of her best friends, Kelly Rowland, referred to the baby as a she. Beyonce made it known that she had no preference on whether the baby was a boy or girl, telling Couric, “I just want a healthy baby.”
Source-Allhiphop
DMX and Ex-Wife Tashera Are Going to ‘Relationship Rehab’
As DMX makes his way back to the industry and living a very public life, he and his ex-wife Tashera Simmons have agreed to appear on VH1’s upcoming “Relationship Rehab” according to TMZ.
On the show, the two will attempt to work out their differences after their failed marriage.
Tashera and the rapper split up in July 2010 after 20 years and four kids together. But they remain close friends, according to a source close to the pair.
Allegedly, DMX repeatedly cheated on his wife and even fathered six other children during their marriage. Ouch. Hard to forgive, but maybe they can make it work.
With professional help, maybe the two will repair their family and get it back together.