Singapore’s Business Times reports that 99% of Singapore workers expect a pay rise in 2014, even though many are not sure about how strong the economy will be.
The research was done by recruitment firm Berkley Group, which said that the result was one of the highest it has ever recorded in its surveys.
Berkly says that the finding indicate an increasing number of organisations rethinking retention programmes as well as the rising cost of living in the region.
US authorities are investigating the hiring practices of JP Morgan Chase in India, South Korea and Singapore following a probe into its activities in China where it employed children of influential officials to win lucrative business deals, according to Asian Banking & Finance.
HSBC Holdings, Europe’s largest bank by market value, is under investigation by regulators probing the potential manipulation of foreign-exchange rates. reports Bloomberg.
The lender is among firms from which the UK’s Financial Conduct Authority and regulators around world have requested information, London-based HSBC said in a statement today. The bank, which posted a 30% increase in third-quarter pretax profit, is cooperating with the inquiries. No current employees have been suspended.
HSBC joins the list of at least seven banks that have said they are cooperating with authorities probing the $5.3 trillion-a-day currency market. Citigroup, JPMorgan Chase & Co, and Barclays have all suspended or put on leave some of their most senior currency traders amid the investigation. No one has been accused of wrongdoing.
London Stock Exchange Group Plc is in talks with Singapore Exchange Ltd. to provide technology to clear cash equities for Southeast Asia’s biggest bourse operator, according to a Bloomberg report. A deal would see LSE’s MillenniumIT unit implement a securities-processing platform for SGX.
The Business Council of Australia is pushing radical measures to promote women into senior executive jobs, including regular testing of chief executives and board members for unconscious gender bias and female-only hiring short lists, reports the Financial Review.
The Wall Street Journal says that a new report by banking group ANZ shows that the number of jobs being advertised across the country was about the same in October as a month earlier, continuing a recovery from a string of sharp declines.
Asian Investor says that a big consolidation is planned for the ETF sector in Asia, with a number of firms withdrawing due to low assets under management and growing regulatory scrutiny.