The global corporate default rate is on track to end 2003 at above average levels, marking the fifth consecutive year of above average default rates, according to a report published by Standard & Poor’s Risk Solutions. Corporate defaults declined slightly during the third quarter of 2003, however, to 33 companies defaulting on $16.0 billion of debt. The sluggishness of the decline in default rates is the result of weak corporate credit quality and a bland economic recovery, and it signals continued high default rates for the foreseeable future, according to Standard & Poor’s. ‘Further gradual declines in the default rate may be seen in the coming months as a rudimentary economic recovery takes effect,’ said Brooks Brady, Associate Director for Corporate Default Research, Standard & Poor’s Risk Solutions. To date in 2003, 106 companies have defaulted on $50.2 billion, which is far from last year’s 235 companies defaulting on $189.9 billion.
UK firms investment in training and development will increase, on average, by a fifth in the next year, claims Robert Half recruitment after interviewing 100 financial services (FS) executives.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.