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China Growth Forecasts Raised as Consumer Spending Strengthens bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
Bloomberg News, Bloomberg News People take an escalator in the Lujiazui financial district in Shanghai, China, on Monday, Dec. 21, 2020. Chinaâs central bank is striking out on its own with signals of tighter monetary policy, widening a divergence with other large economies that will shape global capital and trade flows next year. Photographer: Qilai Shen/Bloomberg , Bloomberg (Bloomberg) Chinaâs two largest investment banks are making broad cuts to travel budgets that will impact junior bankers as well as senior directors as they seek to reign in costs and boost profitability. Starting this month, CSC Financial Co. managing directorsâ domestic travel will be downgraded to economy flights and second class or hard-berth train seats, according to a memo seen by Bloomberg. Larger rival Citic Securities Co. also asked managing directors to fly coach, according to a separate memo, which did not specify ....
A Credit Suisse Group AG has portentously unveiled a new vision for its employees’ work-life balance with “The Way We Work.” The initiative, which promises maximum flexibility, is just too good to be true or manageable. It’s the latest example of what’s becoming an all-too-common theme: large employers virtue signaling that they’re now all hip and flexible when it comes to how and where their people work. With the Swiss lender’s recent history multi-billion-dollar losses due to the Greensill and Archegos scandals it is tempting to think the company ought to be having more oversight not less. And the new model runs the risk of becoming just another corporate public relations exercise, especially as it is presently just for Swiss employees. (Its rollout in other regions will depend on country-specific Covid guidelines.) While the press release sounds nice, the bank seems far from clear on how to make such flexibility work in practice, and what happens ....
The Next Big Divide in Finance Takes Shape in Your Office msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.