The Portuguese government has denied that it needs a EU-led bail out and instead called for confidence in its economy. Nevertheless speculation is growing that Portugal is struggling to cope with vast public debts. The EU already had to bail out Greece and Ireland, and speculation is growing that Portugal will be the third country to need financial support.
The markets are still trading nervously as rumours abound regarding the need for Portugal to follow the Irish republic and receive a bail out. Despite the Portuguese government making public denials, the yields on Portuguese’s bonds continue to rise, a key indicator of loss of confidence in a sovereign state.
Mark O’Sullivan, director of dealing at Currencies Direct, said: “As with Ireland, public government denials do very little to calm the markets, it’s the bond markets that reveal all and as confidence fades away and yields rise, a bailout becomes inevitable – you cannot outrun the markets.”
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.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.