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FT survey reveals global business community demands bolder action to combat unemployment

Research published today by the Financial Times in the run up to the FT ArcelorMittal Boldness in Business Awards reveals growing pressure from business leaders for bold action to address unemployment. Over a quarter of those questioned called for urgent action to address a rise in joblessness.

Nearly two-thirds (63%) of people questioned feel that the UK coalition government has been bold enough in addressing the budget deficit since it came to power. Yet three quarters of respondents believe European governments have not been bold enough in addressing the Eurozone’s debt crisis. Furthermore 75% state that US lawmakers have not been bold enough in addressing problematic issues within the US economy.

The survey of 754 Financial Times readers also discloses that the majority of respondents (37%) believe business will be somewhat more bold in 2011 compared to 2010. Fiscal policy (20%) is seen as the second most important area where action is needed with one in five surveyed believing financial regulation requires robust action.

Germany is singled out as the developed country taking the boldest decisions (34%), in front of the US with 18% of the vote. China is seen as the emerging economy with the boldest direction (47%) ahead of Brazil (20%).

The energy sector is predicted by those surveyed to make the boldest decisions in 2011 (27%) with technology is seen as the second most bold (23%). Transport (2%), Telecoms (3.7%) and health (4.2%) are seen as the least bold in 2011.

The FT ArcelorMittal Boldness in Business Awards celebrate the boldest and most innovative businesses and decision makers in mature and emerging markets. Winners of the third Awards will be announced at a ceremony on 16 March 2011 at the Saatchi Gallery, London, hosted by Lionel Barber, Editor, Financial Times and Lakshmi Mittal, Chairman and CEO, ArcelorMittal.

Lionel Barber, Editor of the Financial Times, said: “The results of the survey show that there is a considerable appetite for bold decisions from the business community. The FT ArcelorMittal Boldness in Business Awards will once again celebrate those individuals and businesses that, despite continuing global economic and political uncertainty, innovate and prosper.”

Judges for this year’s awards are:

  • Lionel Barber, Editor, Financial Times

  • Lakshmi Mittal, Chairman and CEO, ArcelorMittal

  • John Authers, Head of the Lex Column, Financial Times

  • J Frank Brown, Dean, INSEAD

  • Luke Johnson, Chairman, Risk Capital Partners

  • Anne Méaux, Founder & President, Image Sept

  • Terry Smith, Chief Executive, Tullett Prebon and founder of Fundsmith

  • Leo Johnson, Partner, PWC

The 2011 awards recognise those companies and individuals that have grasped the opportunity for innovation and change, and have taken calculated risks to stand out during another tumultuous year for businesses around the world.

The award categories represent the critical decisions faced by businesses and individuals in 2010: Drivers of Change; Corporate Responsibility; Entrepreneurship; Environment; Emerging Markets; Newcomer and Person of the Year. The keynote speaker is to be confirmed.

The Financial Times will publish a bespoke magazine and micro-site containing news and results from the event following the awards ceremony.

- Ends-

About the FT

The Financial Times, one of the world’s leading business news organisations, is recognised internationally for its authority, integrity and accuracy. Providing essential news, comment, data and analysis for the global business community, the FT has a combined paid print and digital circulation of 597,015 (Deloitte assured, 2 October 2010 to 4 January 2011) and a combined print and online average daily readership of 1.9 million people worldwide (PwC assured, May 2010). FT.com has three million registered users and the FT has 206,892 paying digital subscribers. The newspaper, printed at 24 print sites across the globe, has a daily circulation of 390,121 (ABC figures December 2010).

About ArcelorMittal

ArcelorMittal is the world’s leading steel company, with operations in more than 60 countries.

ArcelorMittal is the leader in all major global steel markets, including automotive, construction, household appliances and packaging, with leading R&D and technology, as well as sizeable captive supplies of raw materials and outstanding distribution networks. With an industrial presence in over 20 countries spanning four continents, the Company covers all of the key steel markets, from emerging to mature.

Through its core values of Sustainability, Quality and Leadership, ArcelorMittal commits to operating in a responsible way with respect to the health, safety and wellbeing of its employees, contractors and the communities in which it operates. It is also committed to the sustainable management of the environment and of finite resources. ArcelorMittal recognises that it has a significant responsibility to tackle the global climate change challenge; it takes a leading role in the industry’s efforts to develop breakthrough steelmaking technologies and is actively researching and developing steel-based technologies and solutions that contribute to combat climate change.

In 2009, ArcelorMittal had revenues of $65.1 billion and crude steel production of 73.2 million tonnes, representing approximately 8 per cent of world steel output.

ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT), Brussels (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).
For more information about ArcelorMittal visit: www.arcelormittal.com.

For further information please contact:

James Matheson / Richard Lambert, Braben
T: 020 7025 8021
E: FT@braben.co.uk

Lizzie Allen, Financial Times
T: +44 (0)207 873 4463
E: lizzie.allen@FT.com

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