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FT News Briefing
Vanguard doubles down on wealth management
Dec 10, 2024
The UK faces a sharper decline in hiring compared to other economies, raising concerns about its job market. Vanguard is restructuring to boost its advisory services amid growing competition, while Japan is ambitiously trying to become a semiconductor power with its new Rapidus initiative. Tensions rise in the Middle East as Israel expands its territory, provoking a strong reaction from Egypt. Additionally, the evolving landscape of financial services highlights a competitive rivalry between Vanguard and Robinhood.
11:39
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Quick takeaways
- The UK is facing a significant hiring decline due to slow economic growth and increased employment taxes, impacting recruitment efforts.
- Vanguard's restructuring of its wealth management services aims to enhance client relationships and compete against banks and fintechs.
Deep dives
Declining Job Market in the UK
The UK is experiencing a significant decline in job postings, with numbers dropping nearly 25% compared to last year. This decrease outpaces declines seen in other major economies such as the U.S., Germany, and Australia. Factors contributing to this trend include slow economic growth, rising wages, and increased employment taxes introduced by the labor government. These elements are creating a challenging environment for recruiters, further complicating the hiring landscape in the UK.
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