Business

Jobless in America? Find Work in Asia

Published

13 years ago

October 23, 2011

Bchcomber

Jobless in America. Unemployment jumped back up over 400000 new claims

When Don Phan was looking for a job last April, he thought he’d stay in New York. But when he was offered a position in Thailand, he decided he just couldn’t pass up the opportunity to witness rapid economic growth firsthand and capitalize on the country’s emerging private equity industry.

So he packed up and moved to Asia.

Phan, a 28-year-old American, now works as an investment consultant in the Bangkok office of Leopard Capital, a private equity firm founded in 2007 by Doug Clayton, an American expat who moved to the region in 1983 as a military officer and never left.

Phan is one of many seeking career opportunities far from home. Dismal economies in the U.S. and Europe and booming industries in Asia are prompting Westerners to uproot and move at least 7,000 miles away to find jobs, say recruiters and employees in the region. Recruitment firms say the number of resumes they’ve received from Westerners looking for jobs in Asia has surged by between 15% and 35% since the financial crisis hit in 2008.

Mark Ellwood managing director Asia (ex Japan) Robert Walters

“The job market in Asia is generally more favorable than in the West,” said Mark Ellwood, Singapore-based managing director of recruitment firm Robert Walters. “People know that there are many opportunities here, that Asia is a focus for companies and that relocating could translate into a good career move.” His firm has received a 15% to 20% increase in the number of resumes sent in by Westerners over the past three years.

People in all industries are looking East for employment. Professionals in technology, consumer goods, finance and functions including sales, marketing and operations want jobs, according to Kalpana Denzel, a Singapore-based consultant for executive search firm Russell Reynolds Associates. She and her colleagues have received a 30% to 35% increase in the number of Americans and Europeans who have contacted them, unsolicited, to express their interest in working in Asia.

“Years ago, companies had to incentivize Westerners to come to Asia with attractive expat packages,” Denzel said. “Now there is proactive interest on their part to come here given the growth, opportunity, and investment in this part of the world, coupled with the troubled home economies. Having Asia on your CV is seen as an advantage.”

Employers are more optimistic about adding staff in Asia than in other parts of the world, another attraction for Westerners. A recent Duke/CFO Magazine survey found that American chief financial officers expect employment across all sectors to grow only by 0.9% in the next year. In Asia, CFOs expect employment to grow by 7% over the same period.

According to Trading Economics, which tracks economic indicators for 232 countries, unemployment rates in Asian countries are considerably lower than in the U.S. While the U.S. posted 9.1% unemployment last month, China reported 4.1% in the first quarter of 2011, Hong Kong 3.2% in September, Thailand 0.4% in June, Singapore 2.1% in the second quarter of 2011, Japan 4.3% in August, and South Korea 3.2% in September.

Kenneth Wilson, a 40-year-old Scotsman, has experienced the disparity firsthand. Only one job has been posted in his field of Russian Politics in the entirety of the U.K. since he received his doctorate from Oxford University in 2005. “It’s got worse since the financial crisis,” he said. “Universities are making cuts rather than expanding.”

After fruitlessly searching for a teaching position in the U.K, the U.S., Canada and New Zealand, Wilson landed a gig in early 2009 — in South Korea. He’s now an Assistant Professor of Political Science at Dongguk University and has no plans to leave the country any time soon.

Finance people have renewed their interest in Asian jobs since the market turmoil of the summer. “When the financial crisis hit, we saw a significant increase in the volume of CVs from people based in America and Europe who perceived Asia as a safe haven in the crisis,” said Richard Boden, a Hong-Kong-based principal in the financial services practice for executive search firm Heidrick & Struggles. “We are seeing the same situation all over again in the second half of 2011.”

For those just out of school, Asia is a place to gain experience. “People come out here because there is more activity and they want to be a part of it,” said Phan of Leopard Capital. “Here, young people are optimistic and can take on responsibilities that they couldn’t back at home,” like conferring with the boss on a daily basis.

This year, Leopard Capital got 400 applications from MBA students for 10 internship slots, said the firm’s founder Doug Clayton. About 95% came from Western countries including the U.S., Spain, France, Germany, Italy and Ireland. “I doubt we would have gotten that response four or five years ago when we started the firm,” Clayton said.

Entrepreneurs see opportunity in Asia as well. Felix Baden-Powell, a British 25-year-old, moved to Vietnam in February of this year to co-found Bloom Microventures, which extends micro-loans and introduces tourists to local entrepreneurs. He plans on staying at least another year, then wants to emulate the model in Laos and Cambodia.

The focus on Asia as a destination for job-seekers doesn’t look like it will abate in the near term.

“This trend is likely to continue for the foreseeable future,” said Ellwood of Robert Walters. “Especially if Western economies continue to stagnate and opportunities are limited in that part of the world.”

Write to Julie Steinberg at [email protected]

Business

Based on interest from The Range, Homebase’s owner plans to initiate a sale.

Published

2 months ago

July 20, 2024

Salman

(CTN News) – Homebase’s proprietor is currently in discussions with one of the most prominent general goods chains in the United Kingdom regarding the possibility of selling the do-it-yourself retailer.

These discussions are occurring in anticipation of the commencement of a more comprehensive auction of the company that it salvaged six years ago.

The Range, which has discreetly become one of the most successful retail businesses in the country, has extended an offer to Hilco Capital, the company that acquired Homebase in 2018.

The company was experiencing financial difficulties at the time of acquisition. The offer is being discussed as a potential acquisition. This information was reported by Sky News. Sky News acquired this information.

The city sources asserted that the negotiations were not guaranteed to result in a transaction; however, analysts predicted that The Range would likely demand the majority of Homebase’s approximately 140 stores if an agreement were reached. The headquarters of Homebase are located in the United Kingdom.

It is anticipated that a formal selling procedure, which will involve other potential suitors, will commence in the near future, according to an individual who is knowledgeable about the matter. The individual who disclosed this information provided it.

Homebase was controlled by Wesfarmers for a period of time.

An Australian company, the company experienced losses that totaled hundreds of millions of British pounds. Homebase was acquired by Hilco subsequent to the conclusion of this period.

B&M European Value Retail, a discount retailer that is listed on the London stock exchange, is one of the other retailers that have been considered as potential proposals for Homebase in the past. Another company that has been mentioned is Homebase.

The Do-It-Yourself (DIY) chain, which has been nomadic, has been acquired by Home Retail Group, a joint venture between Argos and Home Retail Group. J. Sainsbury managed the chain at various points in time, and it was subsequently acquired by Home Retail Group.

Hilco, a corporation that has previously owned retail brands such as HMV and Cath Kidston, acquired control of the business as a consequence of Wesfarmers’ entry into the United Kingdom. This event was a complete and absolute disaster. Hilco succeeded in acquiring authority of the organization.

Homebase underwent a business voluntary arrangement in 2018, which resulted in the closure of a significant number of stores, the renegotiation of rent agreements, and the loss of approximately 1500 employment. Concurrently, each of these incidents transpired.

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The outbreak and the crises that accompanied it injured the company’s fortunes in terms of the cost of living, despite the fact that the turnaround investor was successful in stabilizing the company.

The initial increase in sales that transpired subsequent to the COVID-19 pandemic was attributable to the fact that consumers were prioritizing home renovation initiatives. Conversely, the market conditions ultimately manifested with increased volatility.

Homebase lost forty million pounds in 2022, according to Companies House.

Conversely, there is a general agreement that the performance of the previous year was significantly better.

Homebase has a presence in Ireland in addition to its operations in the United Kingdom. Nevertheless, it is conceivable that the two divisions could be sold separately at a later date.

Chris Dawson, one of the most successful businesspeople in the world, is the owner and operator of CDS Superstores, which incorporates The Range as a subsidiary. The Range is situated in Devon.

The business paid a sum of seven million pounds to acquire the brand and intellectual property assets of Wilko, which had been placed under administration.

Mr. Dawson has since established numerous Wilko establishments in a variety of locations throughout the region.

The Range, a retailer with over 200 retail locations in the United Kingdom, offers a diverse selection of products, such as homewares, furnishings, and items for do-it-yourself projects.

Mr. Dawson established its inaugural store in Plymouth in 1989.

Due to the distinctive number plate that is prominently displayed on his Rolls-Royce Wraith, he is frequently referred to as “the Del Boy billionaire.” He has become one of the most successful retail business proprietors in the United Kingdom as a result of his unwavering determination and hard work.

Despite an attempt to obtain a statement from Hilco and Homebase, The Range has been unable to be contacted for any further information.

SOURCE: SN

Business

The National Lottery App is down. Users say they have Login Problems.

Published

2 months ago

July 20, 2024

Salman

(CTN News) – A substantial number of individuals from all over the United Kingdom have reported issues with the National Lottery’s mobile app and website. A sizeable number of individuals have brought these issues to the attention of the authorities.

It is clear that a significant number of individuals have reported experiencing difficulties accessing the application, as evidenced by the fact that over one thousand five hundred complaints were registered at roughly 6:30 this morning.

There was a second surge in the amount of complaints that were received at approximately eleven o’clock last night. Downdetector UK received approximately two thousand reports of outages during this time period.

For the second time in a row, National Lottery complaints were up.

It was as a result of an increase in the percentage of complaints that were received that this phenomenon came about. The application is responsible for National Lottery around 53 percent of the disturbances that have been observed, as indicated by the conclusions of the inquiry.

On the other hand, the website and the login were connected to respectively 41% and 6% of the disruptions that occurred.

Glasgow, Manchester, and London were selected as the regions that were experiencing the most major challenges. This was the case despite the fact that a number of problems were recorded in each and every location in the United Kingdom.

The National Lottery’s mobile application and website have been the subject of a number of complaints from users who have said that they have been unable to successfully log in to either of these platforms.

The National Lottery attracted many people to X.

It was once known as Twitter, where they broadcast complaints and expressed their displeasure with the apparent outage. Their actions were intended to convey their dissatisfaction with the current situation. The following comment was provided by a certain individual:

“Come on, @TNLUK, your app and website have been down since last night at nine o’clock.” These issues have been ongoing for a considerable period of time. Even if one considers how long it has been since the dispute began, it is absurd that it has not been resolved.

I was wondering if anyone has been able to access the website of the national lottery or use the app since the clock struck nine o’clock yesterday evening.

Should that be the case, to what extent has this been feasible? The inquiry was initially posed by a different individual than the one who was being asked.

Would it be more likely for the problem to be resolved in time for today’s draw, or will it take more time to be resolved? What is the likelihood of each of the following occurring? Please select one of the following two options. “@TNLUK”

Apparently, the National Lottery app is exhibiting peculiar behavior of its own accord, as stated by a third user who reported the matter.

There is a significant probability that the anarchy that has been brought about by the current state of information technology is the party responsible for this. This is a possibility that cannot be discounted.

According to the official National Lottery account.

The following comment was provided in response to someone who inquired about the matter: “Hello. It has come to our attention that a sizeable number of players are encountering challenges while attempting to access both our website and our mobile application.

It was brought to our attention by a member of our staff that this information is available. At this very moment, the members of our team are conducting an inquiry into the matter in order to ascertain what has transpired. We would like to take this opportunity to apologize for any inconvenience that this may have caused.

The fact that they are conducting an investigation into the matter is something that you should be aware of.

SPURCE: BCSE

Business

Amazon Prime Day Bargains are Approaching. Is it Advisable to Capitalize on Them?

Published

2 months ago

July 15, 2024

Salman

(CTN News) – Since Amazon introduced Prime Day in 2015, July sales have been enormous for businesses. Even with fantastic prices, personal finance experts advise against deceptive advertising and buying unnecessary items.

In recent weeks, people have been growing more enthusiastic about the 10th Prime Day event, which will take place on Tuesday and Wednesday for Prime members who pay $14.99 a month or $139 a year for free shipping and other benefits.

Other stores have capitalized on Prime Day with offers. This summer, Walmart, Target, Kohl’s, TikTok Shop, and Temu started sales before Amazon.

This was done to steal from Amazon deal-seekers.

There will be “best summer deals” at Macy’s from Tuesday to August 8. Why do businesses sell so much during the summer?

July offers aid August back-to-school buying, the second busiest season after the holidays. Electronics, home products, and seasonal items like bikinis and summer dresses cost more when costs are low.

Sales could help businesses battle “a summer lull in retail spending” because people are spending money on holidays and eating out, according to Coresight Research’s head of global research, John Mercer.

Mercer says “it drives a bit of excitement in that mid-year period,” when companies may be struggling to sell. He claimed that businesses utilized sales to increase spending during high interest rates and inflation.

Amazon doesn’t disclose Prime Day earnings, but it has proof. Last year’s “single largest sales day” sold almost 375 million products.

Amazon Prime Day sales might reach $12.5 billion worldwide in 2023, according to Emarketer. The company expects 7% sales growth this year.

What’s the pricing offer?

Change who you ask. It is common for store advertisements to use hyperbole in order to attract customers. Earlier this month, Wirecutter wrote that most of Amazon’s early discounts this year are disappointing.

Santa Clara University management professor and Amazon book author Kirthi Kalyanam says Prime Day offers are good. Halyanam said Amandon promoted small businesses on its website to acquire Apple discounts and cut their costs. People are used to Temu and Shein’s low prices, so Prime Day deals may not matter.

Kalyanam stated that “many of the deals may not be as competitive” as Temu and Shien’s.

Other stores may immediately try to match Amazon’s prices, he added. He said Best Buy dropped two goods when Amazon revealed early deals last week.

Numerator questioned 5,000 customers after Prime Day last year and found 40% discounts on some items. Survey responders discovered 60% or greater discounts on 25% of items.

Some retail workers stated Prime offers were smaller than they appeared.

Is there a way to budget and locate Amazon deals?

Personal finance gurus advise caution before buying if you’re on a budget. LendingClub customer support manager Mark Elliot advises, “Avoid the false sense of urgency of manufactured holidays.” “It’s simply not true by definition to say that the more you spend, the more you save.”

Dan Egan, VP of Betterment, a financial advice and investing business, advises users to list their wants beforehand to make good selections. He advises against late-night or bored shopping.

“Having a list makes it less likely that you’ll be sidetracked by unnecessary items,” he said. I recommend removing shop apps from your phone for a week or two if the list is practically empty. You’ll get several alerts otherwise.

He warned credit card holders that summer sales savings may be wasted on interest payments. “If a deal requires interest, it’s not a deal,” stated.

According to Consumer Federation of America head of consumer protection Erin Witte, summer offers are best with free or short-term memberships. After a while, these programs charge customers’ credit cards.

To cancel your membership, Witte advised setting a reminder.Think about it now. Remember that these companies made signing up for this product easy but canceling difficult.

Install the Amazon app, sign up for invitation-only offers, and wait in line for limited-time, sold-out deals.

Price comparisons matter.

Prime members who pay for Prime Day discounts may buy more. Before buying, compare costs on many websites.

Walmart’s price event this month was open to everyone, unlike Prime Day. Allowing Walmart+ users to sign up early improved the deal.

Target Circle, a new membership program, was promoted over the weeklong event to boost sales and foot traffic. However, only Target Circle members might get deals.

TikTok Shop’s summer sale was available to anyone. Celebrations continue till July 9.

Source: APN