In the last year, Britain has had a Royal Wedding, a Diamond Jubilee celebration for the Queen, and soon, the Olympics.
Things aren't so celebratory for those who'd like to make England their career home. Recent changes to English visa laws may result in the departure of top traders and bankers who transferred from other countries, Bloomberg reports.
Under the Intra Company Transfer system, employees who transfer within their companies and move to the U.K. can only stay five years. Once their visa expires, they need to leave the country for at least a year. They also aren't allowed to stay permanently, according to the rules.
Critics contend that those rules are making it difficult for the U.K. to maintain its attractiveness as a financial center for multinational companies. After all, having your staff get kicked out, along with their families, every five years isn't something you want to advertise to top talent.
A November report by the City of London Corporation found that companies already had cut headcount in the U.K. as a result of the immigration policy.
"We are giving the impression that we aren't open for business," Mark Boleat, City of London Corporation's policy chairman, told Bloomberg.
Morgan Stanley may be readying its guillotine. The company is "maniacally focused" on cutting costs outside of compensation. That could take the form of layoffs.
Hiring Away (BusinessWire via MarketWatch)
Auto insurer Geico will hire more than 100 new associates before the end of the year. The company needs sales agents, customer service people and claims representatives.
Expanding in China (Bloomberg)
Goldman Sachs is bringing back former employee Mark Schwartz to head its Asia business from Beijing, a definite sign the company is interested in the country.
Jim O'Sullivan just won the MarketWatch Forecaster of the Month award for the ninth time. And yet he's still unemployed after being laid off from MF Global last November.
Revolving Doors (American Banker)
Today's hearing featuring Jamie Dimon is notable because of the connections the Senate committee has to the firm.
Harvard Business School's Class of 2014 is 40% women. Across the entire class, the average GMAT score was 730. Better get studying.
At some companies, if you stick around long enough, you'll be rewarded with an outdoor fire pit commemorating your anniversary. Or a blender.
Buzz Around the Office
Older Dads Are Good For Something (BBC)
A new study shows that kids conceived from older men tend to live longer.
List of the Day: Get Up Early
The most successful people start doing things before breakfast. Here's how to do it.
1. Set a proper bedtime and stick to it.
2. Figure out something that will make you happy to get out of bed.
3. Build the habit.
(Source: MoneyWatch)
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