Saturday 18 November 2017

Boost for Greek bonds from bailout deal

Greece's government bonds are expected to trade higher this week
Greece's government bonds are expected to trade higher this week

Greece's government bonds are expected to trade higher this week after euro-area finance ministers agreed to extend the nation's bailout funds for four months, avoiding a cash crunch that threatened to push it out of the currency bloc.

The securities of the region's other higher-yielding nations, including Portugal and Spain, may be boosted by the deal, as concern dissipates that contagion from Greece would spread.

Prada hurt by falling demand in China, Europe

Italian luxury fashion house Prada reported a 1pc dip in annual revenue and said it would have to contain costs as growing retail sales in the Americas and Japan failed to offset declines in China and Europe.

Revenues totalled €3.55bn in the financial year ended January 31, just short of a forecast of €3.57bn from analysts.

Chief executive Patrizio Bertelli blamed a "more uncertain and complex" environment than anticipated for holding back Prada's expansion and vowed to contain costs to protect profit margins. The Milanese label will open fewer shops than planned in 2015. It had 594 directly operated shops after years of breakneck expansion.

Financial services bosses struggle to find staff

Financial services firms are finding it more difficult to source staff, new research by PwC has found. Seven out of 10 of the financial services chief executives surveyed said talent availability is a key threat, up from 59pc last year.

"The key challenge financial services chief executives globally and in Ireland are faced with is in how to attract, train and retrain people who combine digital and financial skills - few as yet possess such hybrid capabilities" said PWC Ireland tax director Gerard McDonough.

"In tandem, the image of financial services has been eroded, making it harder to compete with other industries in attracting people with prized skills."

Irish Independent

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