London is 21st in job hotspots and this piece of news is a reality check of the condition of the job market in the UK. Bloomberg’s analysis of millions of job advertisements handled by the firm Reed Recruitment in England revealed a disproportionate concentration of job listings in Manchester, compared to other areas in the north. London was discovered to be ranked 21st which suggests that job opportunities in these regions are still lagging. The report points out that the jobs advertised in big and successful places were mainly in accounting, IT and telecommunications, and administrative and secretarial roles in areas where the jobs market was weak.
Just three weeks ago, the UK saw a budget announcement from Prime Minister Rishi Sunak that was based on a prediction that inflation would be near 3% by the autumn. However, a recent OPEC+ decision to cut 1.1 million barrels has led to a leap in oil stocks and a rising trend in global inflation. This could pose a great challenge for both the US Presidential Race and the UK general election as lower inflation and lower prices become an election-critical topic.
David Fickling of Bloomberg Opinion suggests that we are witnessing something profound, a sign of OPEC’s lack of confidence in oil demand. Fickling’s argument is that Saudi Arabia’s decision to make the cuts implies that they think oil demand is unlikely to surge higher by the end of this year. This would mean oil-producing nations will have to focus on investments on other projects like green hydrogen plants and tourist facilities.
The pandemic threw many of us off balance, but Ramadan celebrations in London have returned and Londoners can enjoy Middle Eastern, Indian and other cuisines. However, several tax fraud suspects, including some at UBS and Credit Suisse are under investigation, with Switzerland’s top prosecutor launching a probe into potential crimes with the takeover. Paris voters chose to ban shared electric scooters and UK banks are warning regulators to not get ahead of the rest of the world in post-Brexit banking rules. Morgan Stanley’s Michael Wilson has suggested that the rally in US tech stocks that is surpassing 20% is not sustainable and will likely return to new lows. GB News is also being investigated by Ofcom for potentially breaking impartiality rules in an interview with Chancellor of the Exchequer Jeremy Hunt.
Reed Recruitment is a company established in London in 1971 and has grown to be a successful global recruitment business with a network of local brands, a range of online services, and a portfolio of international websites. Allegra Stratton’s career has spanned a range of areas including work as Prime Minister Rishi Sunak’s Press Secretary when he was Chancellor. Stratton has also been involved in the development of an environmental consultancy called Zeroism which works to reduce global emissions in an effort to combat climate change.