Beijing vows to buy stocks to prop up stock market, regulator says, as shares slump then rise after Monday’s frenzied selling
Beijing has vowed to step up its interventions in China’s volatile stock market following a traumatic day on Monday when stocks suffered their greatest losses since 2007.
A government-controlled stock-buying agency would “continue to buy stocks to stabilise the market”, said Zhang Xiaojun, a spokesperson with China’s security’s regulator, the CSRC.
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Resolution Foundation claims drop in people moving between jobs reduces prospects of pay rises and creates ‘promotion blockage’ for young UK workers
If every cloud has a silver lining, then in the case of the UK labour market it appears that every bright spot has a shadow. That’s the suggestion in new research from the Resolution Foundation into how a rise in job stability over the last two decades has stymied the careers of young people.
Rather than being merely cause for celebration, the drop in the rate at which people move between jobs since the financial crisis in 2008 is likely to reduce the prospects for promotion, pay rises and productivity gains, the thinktank says. It warns of a “promotion blockage that risks permanently scarring the earnings of a generation of young workers”.
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“Job security is crucial to the pursuit of full employment as it will make work more attractive to those facing the biggest barriers to work. But we should also be mindful about the falling rate of job moves, which are a vital way for young workers to build their careers.”