Steelworks, Oil or China! What do they have in common?

Nail biting, gut clenching and worried faces from around the world is what they have in common. Words like Global Recession are not what you want to hear when you're about to take to the ski slopes at your favorite Swiss ski resort. And especially, when you are a banking mogul, who has come to de-stress from a hectic week juggling other people's money.

Other people, who more than likely, are watching their hard earned money plummet on the stock exchange as you put down your hot cup of cocoa and bite your lip in earnest. The world watched as popular stocks fell by about 20% and then tried to make their way back up again when the European Central Bank advised they were trying to make a plan with the eurozone's collapsing market. While a light at the end of a dark and damp tunnel, a light nonetheless.

What with China announcing that their GDP only grew by a simpering 6.9% in 2015, their lowest in 25 years, the world leaders are speculating that this will affect more than we can imagine.

Besides this shattering hit to the economy's gut, the know-it-all's of the world are stating that even the smallest, normally insignificant changes will have catastrophic effects on the rest of the world. The word on the street is that there will be very serious and compelling challenges to tackle in the near future, which will involve a mix of short and long-term trials. The journey to lifting our financial heads above this turbulent water will be a hard and grueling one.

When it comes down to tankers, waiting in the mist, filled to the brim with over 50 million barrels of oil, and all they need is the go ahead as to where they are taking their prized possessions, one must ask the burning question.

What is going on in the world?

What is going on in the world?aWell, simply, all tankers from one of the biggest oil producers were sanctioned and they only had those heavy and debilitating sanctions lifted just last weekend. Brokers have been waiting in the wings, with bated, stale breath for the thumbs up to send their tankers to oil starved countries.

Ironically, it has been hypothesized that there will be less of a demand for fuel in the next few months. What with the fracking industry on the up and up, this means that the world's leaders are not so reliant on Middle Eastern oil. So when the demand is less, the price drops. And when the price drops, it affects so many other avenues in the economy.

And it is not just the oil market that is affecting the worlds stocks and shares, the mining industry, that massive giant, is also having trouble keeping up. The problem with the likes of South Africa, Russia and Brazil mining share prices dropping, means that other commodity industries will follow the same path shortly.

Another word one doesn't want to hear is Armageddon and some big financial puppets are being pulled this way and that, struggling to keep up with the ever-slipping stock prices.

A recovery is expected but when one looks at the recovery from 2008, it is clear to see it will not be easy. If you look very closely, you will see the tiny cracks, which have never been filled since 2008. 8 years may seem like enough time to have pulled through cleanly from a crash, but in fact, the signs are showing that all is not well with the economy yet and another recession may just cripple an already limping leg.

So, is there any good news?

Yes. A little! An increase in the world's economy should be around 3.1% but having said that the China crisis, the delicate baby economy of Brazil and Russia as well as the impending increase of interest rates from the US Federal Reserve Bank will be big mountains to jump over before we can breathe easier.

Some more good news for the UK is that analysts are insisting that an interest rate hike isn't the best route right now.

However, good news is followed by more bad news. If anyone remembers the trade war of the 1930's they will know that events like China's falling currency strength will have a domino effect on how the US handles certain tariffs, namely China's steel imports, which affected 750 workers at Tata.

The one statement that had been repeated a few times over the world is ‘not to panic".

This is easier said that done, when your retirement money is hanging in the rafters, pending a lift of the Chinese economy and a possible global recession.

In this era of tight economy, with the threat of recession looming larger than life in the horizon, people tend to adopt a rather stoic and placid attitude towards life in general and jobs in particular, especially when the job market seemingly dull. Forget about pay hike, holding on to the present job itself is considered as an achievement. In such a scenario, one might even assume that requesting a raise could jeopardise the job itself. But that does not resolve the never ending monetary issues. The fact remains that if you want more money in the saving, more money should come in. No amount of penny pinching can ever help in saving money like a hike in the salary can.

So how can one go about earning a bigger pay check without being awkward or risking humiliation? Here is how. Understand and follow these golden guidelines.

1. Know your worth. Websites like salary.com can give fairly good idea about this and based on that information, go for the most reasonable figure you deserve as a raise.

2. Find out how stable and healthy the company is financially. The raise is possible only if the company has the actual means to provide it.

3. Request a meeting with the boss to understand what targets you re expected to achieve.

4. Document all your accomplishments especially those that have added value to the company.

Now ascertain that circumstances are favourable generally before going for it.

If they are not particularly favourable and the budget appears tight, there is another strategy that can be employed as long as there is a positive feedback regarding your work.

5. Tactfully point out the extra work done on top of the expected target along with the accomplishments. Request for a stipend towards the extra work alone till the normal raise if any is due.

6. If not a raise, try for a bonus that is one off pay and therefore practically more feasible.

7. Request for an overtime pay. Working overtime is the most effective way to achieve a bigger salary minus the raise. But unfortunately most of the companies seldom pay for overtime. In such cases try pushing for an overload payment for work overload done within your own timings of work.

8. Referral bonus if applicable can be claimed by referring new talents who are cultural as well as organisational fit to the company, for new recruitment. Here as the company saves time man power and money that could have been otherwise spent on training the recruit. So a known referee in the company makes a world of difference and therefore deserves a bonus.

9. Request for paid time off instead of cash. Earn money doing seasonal work or any part time work during that period. In effect it brings home more cash.

10. Here, the raise is yours without even asking. Care to know how? Be an expert in some area, do twice your normal and outperform yourself. Show your strong commitment towards the company. This is bound to get you noticed by the management. This will automatically ensure your place as the first choice in case the company is considering someone for a raise.

Even though these are really clever tips, nothing is guaranteed. A promotion, a raise or a bonus is something over which you have no control of even if you are the most deserving candidate simply because it has to be offered by someone else. But these tips surely do increase your chance for a raise tremendously.

Chesapeake Energy Corporation, well known as the profoundly indebted shale maker, said for the current week, it is capable of clinging to its four billion dollar bank line provided it posts pretty much all that it possesses as collateral.

Huge numbers of its rivals are faring far more regrettable. Right around 2 years experiencing the most terrible bust of oil in an era, loan specialists including JPMorgan Chase and Co., Bank of America Corporation also, Wells Fargo and Co. are cutting lines of credit for battling energy companies. It's an unsaid affirmation that energy costs aren't returning, and speaks to an unexpected turnaround from a year ago the time banks remained indulgent on battling drillers in the trust that good times were approaching.

Ever since 2016 began, loan specialists have taken out 5.6 billion dollars of credit in the possession of 36 gas and oil makers, a diminish of 12%, resulting in the most serious retreat since crude started falling in the middle of 2014.

What's more, the end has not come yet. Financial institutions are amidst a two times a year survey of loans for energy, where the financial institution choose the amount of credit they can stretch out to low evaluated organizations taking into account the estimation of their gas and oil reserves. With crude floating close 40 dollars for one barrel, drillers' advantages are currently worth a lot short of what they were worth 2 years back.

Under Pressure

Most Financial institutions are reducing their gas and oil exposure to a limited extent since they're confronting pressure from investors and regulators to control risk. JPMorgan communicated that it put aside some 529 million dollars in the main quarter in order to take care of anticipated loss gotten from loans to gas and oil organizations. JPMorgan has a sum of 14 billion dollars of loan loss back up by March, rising from the initial 13.6 billion dollar by the end of the final quarter.

Lower Credit

No less than 15 organizations have witnessed their available credit lines reduced, including Rex Energy Corp., Whiting Petroleum Corp., and Halcon Resources Corporation. Goodrich Petroleum Corporation's loan specialists reduced their credit line since January to 40.3 million dollars from 75 million dollars, placing limitations on how much the money starved organization could get access to.

Boosting reserves

Banks are putting aside more cash to cover misfortunes on loans for energy. Wells Fargo, the company that had 17.4 billion dollars in outstanding gas and oil loans toward 2015 end, put aside 1.2 billion dollars to take care of possible losses.

Morgan Stanley, Goldman Sachs, Bank of America, JPMorgan and Citigroup might require an extra 9 billion dollars to take care of souring gas and oil loans in the direst outcome imaginable, Moody's Investors Administration communicated to the public in an April 7 report. Yet, the loan specialists would have the capacity to assimilate such misfortunes out of one quarter's income or earnings.

The most noticeably period of the oil accident is over and costs ought to be more grounded by year's end, six of the world's greatest energy dealers said during the FT Worldwide commodities Summit as the cost of Brent unrefined moved to another high for the year.

As indicated by some high regarded brokers who talked at the FT Worldwide commodities Summit, oil business were practically consistent in saying the business sector was beginning to come into equalization, with interest anticipated that would begin exceeding supply in the second 50% of 2016. Most dealers present were seen to have agreed. It was likewise noticed that the main impetus for the business sector going ahead is when, not if, the alleged rebalancing happens and supply and request gets once again into equalization

What's more, there will be a great deal of instability going ahead, however starting now and into the foreseeable future, the pattern is up. It won't be as quick as a few examiners think today, however it will happen.

The organizations, which together exchange enough oil day by day to meet just about a fifth of worldwide interest, said the almost two-year value breakdown had set off a surge sought after and prompted a breakdown in interest in new supplies. Brent raw petroleum, the universal benchmark, hit a 2016 high on Tuesday of $43.58 a barrel.

Most dealers still feel they are yet to see the base, unless a disastrous occasion happens. It is trusted that supply and request will be intersection by the time the third or final quarter comes to an end.

Amid the Worldwide summit Ian Taylor, the world's biggest autonomous oil dealer, told the FT that the business sector "is moving marginally towards a superior parity". He included that the world's biggest makers would likely discover consent to "stop" yield the next week.

As indicated by Marco Dunand, CEO of Mercuria, the accident in costs to underneath $30 a barrel toward the start of this current year had quickened the recuperation, driving further venture reductions. Marco Dunand explained that at the point when oil costs as of late plunged beneath 28 dollars, it was a good sign for crude as forward costs fell quicker than present ones, provoking real generation undertakings to be scratched off,

At $30 a barrel there was a second flood of spending cuts. The vast majority foresees costs to recoup in 2017-18, however when the lows were hit, the back-end of the business sector was falling speedier than the front-end and that executed a great deal of ventures.

In any case, Glencore's oil sector head communicated a note of alert, saying that while supply and request would likely adjust in the second half, rough and refined item stockpiles have expanded generously since costs began tumbling from above $100 a barrel in mid-2014.

To get any huge rally, there's an expansive stockpile to work through and it's improbable it will come rapidly.