Centrica Plc has announced plans to cut 5,000 jobs in a bid to streamline its operations and reduce overhead.

It is expected that half of the lost jobs will be from managerial positions, and Centrica has specified that half of its 40-strong senior leadership team will step down by September. The company has claimed that three layers of managers will be stripped out by this move.

Chris O’Shea, who became CEO of the company on 17 March, described the cuts as a “difficult decision” that was made in order to “arrest [Centrica’s] decline”. “Since becoming Chief Executive almost three months ago, I've focused on navigating the company through the [COVID-19] crisis and identifying what needs to change in Centrica,” he said, referring to the company’s structure.

“We have great people, strong brands that are trusted by millions and leading market positions, but the harsh reality is that we have lost over half of our earnings in recent years. Now we must bring focus by modernising and simplifying the way we do business.”

As part of a separate announcement, Centrica said that Sarwjit Sambhi, CEO of its consumer arm, and Richard Hookway, CEO of its business arm, will both step down with immediate effect and leave the firm in July as part of the restructuring efforts.

Centrica employs around 27,000 people, 20,000 of whom are based in the UK.

In a webcast to employees on Monday, BP chief executive Bernard Looney announced that 10,000 jobs will be cut due to the effect of COVID-19 on oil prices.

“The oil price has plunged well below the level we need to turn a profit. We are spending much, much more than we make,” he said.

Looney said that BP’s senior roles would “bear the biggest impacts”, with a new company structure seeing the number of senior-level jobs halved and group leaders cut by a third. “The majority of people affected will be in office-based jobs. We are protecting the frontline of the company and, as always, prioritising safe and reliable operations,” he continued.

This new round of layoffs, most of which will be resolved by the end of the year, marks the end of BP’s three-month redundancy freeze that has commenced since March.

In addition to reducing BP’s capital expenditure by $3 billion and operating expenditure by $2.5 billion in 2020, Looney also suggested that the company will soon be refocusing its efforts to transition away from fossil fuels, and that the COVID-19 pandemic may accelerate the process.

“To me, the broader economic picture and our own financial position just reaffirm the need to reinvent BP,” he said. “While the external environment is driving us to move faster — and perhaps go deeper at this stage than we originally intended — the direction of travel remains the same.”

Since his appointment to CEO in February, Looney has already pledged to transform BP into a carbon-neutral company by 2050.

The Department of Labor’s jobs report was released on Friday and, in a piece of unexpectedly positive news for the US economy, showed that 2.5 million American jobs were created in the month of May, reducing the nation’s unemployment rate to 13.3% – down from 14.7% in April.

The news came as a surprise to many economists, who had estimated an unemployment rate of 19-20% and 8 million lost jobs.

“To add more than two and a half million jobs is, quite frankly, a stunning result,” said Robert Alster, head of investment services at Close Brothers Asset Management. “These figures have quite simply caught everyone off guard.”

The figures’ release saw a positive effect on stocks worldwide. In Europe, the FTSE 100 roseby 1.8%, the DAX by 2.7%, and the CAC 40 by 3%.

American stocks naturally saw a boost of their own, with the S&P 500 rising by 2.34%, the DOW by 2.9% and NASDAQ by 1.4%.

The Department of Labor’s new figures seem to indicate that the US economy is bottoming out, though the recovery is likely to drag on for some time yet. Jay Shambaugh, an economist from the Brookings Institution, commented, “a 13.3% unemployment rate is higher than any point in the Great Recession. It represents massive joblessness and economic pain. You need a lot of months of gains around this level to get back to the kind of jobs totals we used to have.”

That's because both corporate and personal finance jobs call for people with diverse skill sets, varied backgrounds, and open minds. So, if that sounds like you, find out how to break into this rewarding, growing segment of the modern economy. Here are three points to keep in mind before making the leap into the world of numbers, metrics, money, and all things financial.

You Should Enjoy Working with Numbers

In addition to being the type of person who pays attention to details, you should have a facility and at least a modest level of enjoyment when it comes to working with numbers. That doesn't mean you need to be a math genius or statistical expert, but if quantitative and math-related subjects are not your cup of tea, then this field is probably not for you. However, if you did well in high school and college math courses and have even a passing interest in banking, business, the stock market, economics, or similar subjects, then you'll easily find a home in the wide world of financial careers.

Degrees are Worth the Effort

One of the traditional aspects of the financial services sector is that college and graduate degrees are highly valued. There aren't a lot of freelancers for one very simple reason in that many state and federal laws regulate who can offer services as accountants, analysts, consumer counselors, and loan advisors. If you want to rise quickly in this area, it only makes sense to obtain a college degree. Even if you decide later on to go in alone as a sole proprietor, most of your prospective clients will want to know about your academic credentials.

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Getting a student loan to pay for your undergrad or graduate education is a wise investment. People who hold MBAs, master's degrees in business administration, CPAs, certified public accountancy licenses, and CFPs (certified financial planning certificates) all need to have college diplomas, at least, to get jobs in their line of expertise. But pay rates are high and opportunities are many, so it's no surprise that student loans are the primary way many of these skilled folks begin their educational journeys.

Government Work is Always Available

The organisation known as the IRS, or Internal Revenue Service, is a part of the US Treasury Department and are charged with seeing to it that working adults pay the right amount of taxes each year. Of course, the IRS gets its share of negative media attention every April, when the majority of citizens have to settle their tax bills. The good news, for working professionals anyway, is that the IRS regularly hires thousands of people with financial skills. The jobs offer very good pay, the chance to travel, excellent benefits, and one of the best retirement plans around. If you are averse to corporate or solo work, the IRS might be the place to ply your skills.

In a surprise announcement, Virgin Atlantic has announced that it will cut upwards of 3,000 jobs in the UK, citing the effects of the ongoing coronavirus pandemic and its impact on travel as the cause.

Virgin Atlantic chief executive Shai Weiss said in a statement that “now is the time for further action to reduce our costs, preserve cash and to protect as many jobs as possible.”

In addition to cutting jobs, the airline will also discontinue its operations at Gatwick Airport, focusing exclusively on its Heathrow flights.

Virgin Atlantic, majority owned by Virgin Group tycoon Sir Richard Branson, has been seeking a government-backed loan for several weeks. This latest move follows warnings of massive redundancies by rival companies Ryanair and British Airways, with BA indicating that upwards of 12,000 jobs could be lost – and that it, too, may soon end its services at Gatwick.

Virgin’s latest announcement has been met with shock, particularly among the British Airline Pilots Association (Balpa), whose general secretary, Brian Strutton, described it as “devastating”.

“Our members and all staff in Virgin Atlantic will be shocked by the scale of this bombshell. We will be challenging Virgin very hard to justify this,” Strutton said.

The cutbacks by Virgin Atlantic come less than a fortnight after the collapse of its sister airline, Virgin Australia, which employed 15,000 people.

Still, there are countless success stories of humble immigrants coming to the US with not much more than their dreams (and a hard work ethic), beating the odds, and becoming millionaires (and in many cases, billionaires). Elon Musk of Tesla is one of the more recent examples, but there are thousands of other immigrants who came to the US, put in the work, and achieved their dreams. 

So then, how does one start the process of becoming a millionaire? What are some of the nuances of the US economy that immigrants need to be aware of? Should you invest in real estate? What about the stock market, or its less-than-stable cousin cryptocurrency?

Whether you’re looking for tips on forming an investment strategy, want to learn more about how the US economy works, or simply need some advice on saving money, we have you covered. Below we cover everything you’ll need to be prepared for the process of becoming a millionaire in the US. 

Million Dollar Saving Strategies

Believe it or not, most people have the ability to save up to a million dollars in their lifetime. Even if you’re not making a six-figure salary, you can easily employ some basic saving strategies to stretch your dollars into a million (over several years, of course). 

With that being said, there are a few major variables that can affect how long it will take you to save (up to) a million dollars. These variables are listed below:

• What your annual revenue is (i.e. how much money you earn per year)
• What your annual expenses are 
• How much money you’re able to save on a monthly/yearly basis 
• What the growth rate of your investment(s) is
• What your savings rate is (i.e. the percentage you’re saving relative to your income)

The majority of financial planners in the US recommend saving at least 10 to 15% of your annual income. If at all possible, and you want to increase your savings rate, you should try to up that percentage (at least a little bit). Saving as much as possible, cutting costs when it makes sense, and living frugally (note: not cheaply) can all help to maximize your savings strategy. 

Making Your First Million Will Be Difficult: Prepare Yourself 

Lots of people have the quintessential romantic notion that they’ll work hard for a few years, meet the right people, the stars will align, etc., and that making their first million will somehow “just happen.” However, the reality of the situation is that making your first million dollars is almost always an uphill battle.

Lots of people have the quintessential romantic notion that they’ll work hard for a few years, meet the right people, the stars will align, etc., and that making their first million will somehow “just happen.” However, the reality of the situation is that making your first million dollars is almost always an uphill battle.

Luckily, though, that battle really only applies for the first million. As you should know by now, it takes money to make money (and having a million dollars to invest in your business ideas/investments makes it a lot easier to increase your revenue). There are tens of millions of millionaires in the US, and many of those are immigrants. 

Indian-born immigrants account for many of these millionaires. But millionaires can come from anywhere and achieve their wealth through different methods, which means that it’s possible for anyone to become a millionaire - you just need to understand that it will take a certain work ethic and a lot of financial savvy. 

Note: If you’re an immigrant looking to start saving money, you should think about finding a side hustle (or two, or three). Most independently wealthy individuals amassed their wealth through hard work (i.e. not just working a basic 9 to 5). Jobs for Indians in the US can be found via countless online resources.

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Quick Tips for Your First Million

Use some of the basic tips posted below to increase your chances of becoming a millionaire. Remember, becoming a millionaire in the US should be thought of as a journey, and emphasizing the actual process (rather than the result) is what will elevate your finances to the next level.

• Focus on finding investment opportunities to increase your annual revenue
• Increasing your number of revenue streams is vastly undervalued (and very important)
• Avoid taking on debt (even if it’s for business reasons)
• Live as frugally as possible (but don’t neglect your health or mental well-being)
• Constantly be learning and developing new skillsets
• Look for new employment opportunities and/or side hustles that can increase your revenue stream
• Save as much money as possible and then invest that money into emerging markets

These two fields of study fall under the economy category. By choosing a major in each, you’ll get the chance to study many interesting things from blackchain to the real estate industry economics. But, how do you make the choice that best fits your skill set?

Difference Between Accounting and Finance

Before you make your choice, you should differentiate between the two fields of study. Some of the accounting and finance topics from topics mill can help you better explore the fields once you know the difference.

Accounting is narrower than finance. It involves the financial statements’ preparation process. Basically, it explores where money come from, where they’re spent, as well as focuses on making cash flow plans and budgets.

Finance is broader. It doesn’t focus on making statements, but on evaluating the existing statements. The task you’ll have in this field is to understand the financial situation and make important financial decisions, such as where the money should be invested or how they should be spent.

Accounting vs Finance: Choosing Between the Two

In order to choose the right major, accounting or finance, you need to pick what you want to be studying and what you’d be good at.

If you choose to study accounting, you should know that this field is broken into three main categories: tax accounting, auditing, and public accounting. On the other hand, finance is divided into: financial planning and traditional finance.

If you choose to study accounting, you should know that this field is broken into three main categories: tax accounting, auditing, and public accounting. On the other hand, finance is divided into: financial planning and traditional finance.

This decision is a grand one, so naturally, you are spending a lot of time trying to figure things out. It’s wise if you use the best essay writing service in Great Britain to reduce some of the workload while you’re exploring the fields, maybe even volunteer in a company to see what you’re more interested in.

Now, let’s dig deeper into the specialization paths that these fields offer you.

Specializations for a Major in Accounting

Public accounting involves keeping and preparing financial statements and records. It’s the perfect job for those who are detailed and persistent in doing everything perfect, as well as the ones that don’t mind the idea of constantly having to create detailed and accurate statements.

Tax planning involves preparing tax returns, providing tax consulting services, as well as doing tax planning. That being said, such a job requires a lot of learning even after you graduate, since regulations change very often. It’s perfect for those who enjoy research and have highly developed research skills.

Auditing involves evaluation of financial records. Your job in this career will be to check if records are accurate. Most of the time, you’ll be auditing other people’s work, which makes this the perfect task for those who are detail-oriented and enjoy the opportunity to investigate and dig in.

Specializations for a Major in Finance

Traditional finance requires deep knowledge of both economics and finance. If you can’t decide between the two, this is the perfect combo of both fields. It requires knowledge of global markets and an understanding of investments. The perfect person for this job is one with leadership skills, ready to take over the most important and difficult decisions. These are usually the highest paid people in the company, since the entire company or big teams rely on their input and their expertise.

Financial advisor/ planning include helping people by checking their financial statements, income, taxes, insurance, and investments. It requires a great deal of financial planning and knowledge of many fields, as well as great communication skills.

How to Finalize Your Decision

Now that you know what each field expects of you, it should be easier to finalize your decision. As I said, you can get the best picture of how each career path works by shadowing someone who does this, or volunteering in companies that work in the field of finance and accounting.

Also, you definitely want to consider your personality. As you can see, every career path requires a specific personality from the person who does it. Therefore, do your research thoroughly and pick the one that fits you best.

In the world of finance and accounting, things are similar. But, this doesn’t mean that you can change your mind constantly and easily switch from one career to the next one. Both fields require a lot of constant work, practice, and knowledge.

Moreover, for most of the careers in this field, you’ll have to get a degree, certification, or a title that allows you to do that job. It takes some time and a hefty investment to get the education you need to thrive in this field. So, take your job of choosing a major seriously since you’ll probably have to stick with it.

Yes, it is possible to change careers, but it will require an even bigger financial investment and will waste a lot of your time.

Join the World of Finance or Accounting Today!

These two career choices are of high influence and importance in the world. They’ve always been in high demand and this isn’t about to change any time soon. So, whatever you choose, make sure that you study a lot – it will definitely pay off for you!

Author’s Bio

Bobbie Sanchez is a financial advisor. He works privately as a contractor who helps small businesses and business people in keeping their finances organized, spending them wisely, and tracking their money. In his written work, you can read very useful advice in terms of your investments.

Negative interest rates and a slowing economy are forcing lenders, in this case banks, to reduce costs. In a new four-year strategic plan UniCredit has announced it will be cutting back 8,000 more bank jobs as chief executive officer Jean Pierre Mustier rewards investors with EUR 2 billion (£1.7 billion) worth of share buybacks.

UniCredit plans on boosting shareholder remuneration via dividends and share repurchases. The job cuts, which make up around 7% of the bank’s entire workforce, will happen through the closure of around 500 branches worldwide.

In a statement, Mustier said the plan's targets are "pragmatic and achievable… They are based on a realistic set of macroeconomic assumptions, being more conservative than those assumed by the market."

According to Bloomberg’s recent report, these job cuts push the overall banking job losses worldwide, this year, past 73,400, most of which have happened/will happen in Europe (86%).

In this article, we reveal the top four employment opportunities in the financial sector if you are looking for a remote position.

You Can Get An Education Remotely Too

Before we go through the positions you can get which are not bound to an office, you should know that the flexibility of the financial sector extends to formal education as well. Nowadays, you can take an accredited advance accounting course online and get the proper credentials to apply for the positions you always dreamed of. It is up to you if you want to get the classic college experience or if you want to integrate your education into a life plan that you control. In the end, it's all down to the dedication and talent you deliver into getting the best possible financial education. Here are the main remote jobs you can look for after you get your degree:

1. Independent Financial Planner

You can use your financial knowledge to help other businesses thrive by becoming an independent financial planner. You could work with people looking to open new businesses or improve those that they already have. To do this, you do not need to work for a company directly. You could be independent and open your very own office at home. As you can imagine, your home office would have to meet certain standards, but the entire operation would run on the coordinates you provide. In addition, you could take on long-distance customers and organize your meetings online. This would enable you to work entirely remotely.

2. Outsourced Financial Careers

More and more companies are outsourcing jobs in the financial sector, among others. These include positions like financial analyst, expert accountant, tax researcher, and many other well-paid jobs you could take on without having to be bound to an office. In fact, there are recruiting companies that specialize in outsourced labor force and you could be the talent they are looking for. This would give you an edge in finding the top remote jobs in the financial sector worldwide. As an alternative, you can look up the remote positions offered at the top companies in your sector and start the application process online. You can work through your financial career as part of a major corporation from anywhere in the world.

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3. Day Trader

If trading is your calling, then you will definitely not need to be bound to an office to thrive in this profession. You can become a day trader. You would hold positions in stocks for very short periods of time (in the line of minutes of hours) and it would be your goal to maximize the financial potential of those stocks in the limited amount of time you have access to them. As you can imagine, you would make numerous trades each and every single day. Moreover, if you choose a career as a day trader, you will not have a regular salary or a predictable life. But if you are talented enough in this, you can make quite a lot of money by seizing the correct opportunity. As a matter of fact, some traders are able to post returns of 300% or even more on a yearly basis, which is a spectacular amount compared to regular returns. To succeed as a day trader, you don't need an office, but you do need raw talent and access to some specialized tools that can guide you to the best possible decisions.

4. Financial Writer

With a degree in finance and a talent for writing, you could seek a career as a financial writer. While this seems further away from the financial sector, you would be up to date with the latest financial news, changes, and breakthroughs. You could work for finance news platforms, but also finance-themed online magazines. You could build a solid career without ever having to step foot in an office. You can use your financial expertise to relay the latest news in the financial sector in a language that anybody understands. This helps to keep people informed and it goes a long way. Moreover, you could use your skills to write professional articles for the financial sector. Make use of all your talents as a financial writer.

As you can see, there is flexibility in the financial sector for remote positions. You can apply for outsourced positions in major corporations or you can seek an independent career as a day trader, a financial planner, or become a financial writer. There are many opportunities you could seize without stepping foot in an office.

Neither the launch of Facebook’s Libra cryptocurrency nor the rapid appreciation of Bitcoin - which has more than quadrupled in value in 2019 - has so far reversed the trend.

Just two years ago, jobseekers’ interest in Blockchain - the technology which underpins cryptocurrencies like Bitcoin and Libra - surged. In 2017 Indeed recorded a tenfold increase in the number of candidates searching for Blockchain jobs, coinciding with a 2,100% spike in the value of Bitcoin, which peaked at $20,000 in December that year. 

Candidates’ interest in jobs mentioning ‘Blockchain’, ‘Bitcoin’ and ‘Cryptocurrencies’ surged in the first half of 2018, before tailing off sharply in the latter part of the year. Searches for these jobs have fallen further in 2019, with the monthly average this year sliding by 44% on its 2018 level. 

The number of cryptocurrency job postings has also collapsed in 2019, with the June figure down 72% on the record high recorded in March 2018.

Interest in Blockchain, Bitcoin and cryptocurrencies plummets.

The falling interest coincides with extreme volatility in the value of cryptocurrencies. Bitcoin prices fell by nearly 80% in 2018, and though the best known cryptocurrency has rebounded in 2019 - surging past $13,000 at the end of last month - jobseeker interest in the crypto sector has not yet matched that resurgence. 

However, Facebook’s entry into the cryptocurrency market could inject new credibility and mainstream acceptance of the technology, and Indeed’s data reveals that a string of well-known tech and financial services firms continue to advertise Blockchain jobs.

The global banking giant JPMorgan Chase, one of the top 10 companies posting cryptocurrency jobs on Indeed, created the first US bank-backed cryptocurrency last year when it launched JPM Coin. Meanwhile, earlier this year, tech firm IBM created a global payments network to support transactions involving foreign currencies and cryptocurrencies.

Bill Richards, UK Managing Director at global job site Indeed, commented: “The mercurial rise - and then fall - in the value of Bitcoin sparked headlines and jobseeker responses in roughly equal measure.

“But while the rapid rise in value of Bitcoin so far this year has attracted investors, jobseekers have been more wary. 

“Behind the froth of Bitcoin, the true potential of Blockchain is still being revealed, and it’s striking how many companies, including tech and banking heavyweights, are building teams of people with skills in this area.

“Facebook’s launch of Libra is set to extend the reach and acceptance of cryptocurrencies and could power a second boom in Blockchain jobs, but so far this is anything but a foregone conclusion.” 

(Source: Indeed)

Most recently, it was the turn of automotive giants General Motors (GM) to feel the wrath of the POTUS, who waded online to criticise the decision of the firm to close key manufacturing plants in the States as part of a major structural reorganisation.

In this post, we’ll consider the fall-out in a little more detail, while asking whether or not GM are right to consider closing some of its domestic plants.

A Look at the Closures and President Trump’s Reaction

GM dropped the bombshell earlier this week, by announcing that it would end production at a total of five plants in the US and Canada.

This includes three major manufacturing sites in Ohio, Michigan and Maryland, while the firm’s strategic manoeuvre will slash 15% of its domestic workforce and up to 14,000 jobs in total.

Not only this, but the brand is also planning to kill off several of its renowned passenger cars, including the Chevrolet Impala, as it strives to reduce operational costs, boost profits and realign its product range to suit America’s changing tastes in vehicles.

The brand is also planning to kill off several of its renowned passenger cars, including the Chevrolet Impala.

Trump is one of several politicians to have expressed dismay at the move, with the President predictably taking to Twitter to vent his frustration. In one of a number of Tweets, he also claimed that the 25% duty applied to imported trucks and commercial vans play a key role in supporting this facet of the industry, while hinting that a similar tariff may applied to cars.

Trump’s also asserted that applying such duties to car imports would prevent firms like GM from closing their domestic plants, increasing the number of vehicles manufactured in the States and boosting the industry as a whole.

This is typical of the President’s inherently protectionist stance, and with separate tariffs also being considered for Chinese cars that are imported into the US market it’s clear that GM are merely the catalyst for the latest outburst rather than the underlying cause.

Is GM Right to Restructure in this Way?

Under the stewardship of any other administration, this would not be such an emotive issue, but Trump built his election campaign on the notion of restoring America’s car industry and has polarised opinion with his strong views on immigration and foreign trade.

While the aggressive response of the President is understandable (if somewhat misplaced) given his desire to deliver on his manifesto, however, the question that remains is whether GM are right to restructure their business in this way?

The brand are certainly right to consider reviewing their product range, particularly with customer behaviour changing and consumer borrowing across loans and credit growing at a noticeably slower rate in 2018. More specifically, as customers look to spend less on cars and seek out SUV and crossovers as opposed to standard passenger vehicles, GM has sought to be proactive and realign its production to suit demand.

Ultimately, private sector firms are always governed by profit and loss, while they retain the autonomy to structure their venture however they wish in a capitalist economy.

From an economic perspective, America’s GDP growth rate also declined from 4.2% to 3.5% in September 2018, hinting at a slight economic slowdown that has caught the attention of manufacturers across a number of industries.

This, when combined with an uncomfortably high debt-to-GFP ratio of 105% and incrementally rising labour costs, may well have forced the hand of GM executives and encouraged them to restructure their venture as a way of optimising profitability.

The Last Word

Ultimately, private sector firms are always governed by profit and loss, while they retain the autonomy to structure their venture however they wish in a capitalist economy.

So, while the Trump administration can talk in emotive terms about domestic manufacturing and consider the actions of GM in the context of their own protectionist agenda, individual brands should not be concerned with this or have their interests compromised by punitive tariffs.

Earlier this month Z/Yen published their global financial centres index which stated that for the first time in 15 years, New York has overtaken London as the world’s top financial centre. The report focused on a number of factors including infrastructure and reputation and was combined with a survey to show the most attractive financial cities. To follow on from this, job search platform Joblift looked into the financial job markets in both London and New York to find out if these results matched or contradicted the Z/Yen conclusions. While New York may have become the most attractive worldwide financial centre, Joblift’s results show that the crown still lies with London when it comes to job availability and growth.

London has more than twice the number of vacancies and three times as much job growth

According to Joblift, 124,788 financial job vacancies have been posted in London in the last 12 months. In comparison, New York has been the location of 49,526 financial vacancies in the same time period, around 2.5 times less than in the UK’s capital. To further bolster London’s claim as the financial job market top spot, vacancies in the capital have increased at three times the rate of New York’s. While the US city’s financial job market increased by 1% each month on average in the last 12 months, London’s market saw a 3% average rise.

Both cities share the most in-demand professions and top employers but vacancies in new york were more secure

Despite the differences in number of vacancies and job growth, the financial job markets in the two cities have a lot in common. Accountants are the most in-demand professionals in both cities, making up 12% of the job market in London, and 9% in New York. They are followed by Finance Managers in London (11%) and Economists in New York (6%), with these professions switching in each location as the third most in-demand – Economists in London (4%), and Finance Managers in New York (6%). Additionally, while not in the same ranking order, JP Morgan, Goldman Sachs and Morgan Stanley were the top employers in both New York and London. However, while the same professions are in demand, jobs in New York were more secure. In the last year, 87% of the finance vacancies advertised in New York were for permanent contracts, while postings offering the same contract type in London made up just 75% of the capital’s financial market.

(Source: Joblift)