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21/09/2001
Economic gloom spreads as markets slide
The spreading fiscal ripples of last week’s terrorist attack on America looked more and more like turning into an economic tsunami as US share prices dived to their lowest level for five years on a massive 14% fall on the week’s trading.
At one point on intra-day lows market analysts estimated that US investors had lost over a trillion dollars, while UK investors had seen £70 billion wiped off London’s top-100 shares.
Investors appeared to be fleeing the share market as fears grew about the war footing being adopted by America and Britain. Recession was a word appearing in reports, as shares across the board hit the greased slide to new depths as UK companies were faced with falling exports as the US slips into a technical recession.
Among the biggest losers on Friday were insurance companies such as Sun Alliance who have significant US dealings, but the UK government brokered a rescue deal for airlines facing a crisis over insurance policies.
The September survey from the Confederation of British Industry showed that the manufacturing sector in the UK, already in recession for six months, had slumped to a three-year low.
Of the few factors propping up the UK economy, consumer confidence and a buoyant retail sector are sure to have suffered a blow, but the unanswered question is how much of a blow?
Nevertheless despite the current economic gloom many US analysts fully expect that the US recession will be short-lived as inventory runs out there will be an economic rebound effect inside a few months. (SP)
At one point on intra-day lows market analysts estimated that US investors had lost over a trillion dollars, while UK investors had seen £70 billion wiped off London’s top-100 shares.
Investors appeared to be fleeing the share market as fears grew about the war footing being adopted by America and Britain. Recession was a word appearing in reports, as shares across the board hit the greased slide to new depths as UK companies were faced with falling exports as the US slips into a technical recession.
Among the biggest losers on Friday were insurance companies such as Sun Alliance who have significant US dealings, but the UK government brokered a rescue deal for airlines facing a crisis over insurance policies.
The September survey from the Confederation of British Industry showed that the manufacturing sector in the UK, already in recession for six months, had slumped to a three-year low.
Of the few factors propping up the UK economy, consumer confidence and a buoyant retail sector are sure to have suffered a blow, but the unanswered question is how much of a blow?
Nevertheless despite the current economic gloom many US analysts fully expect that the US recession will be short-lived as inventory runs out there will be an economic rebound effect inside a few months. (SP)
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Guinness is really 'good for you' - or at least it is for marketing purposes. The Chartered Institute of Marketing's (CIM) Brand New 2010 Conference and Awards has confirmed that 'investing in a brand does work'.
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09 July 2009
North-South Ministers Target Infrastructure
A delegation of Irish ministers met in Dublin this week to discuss further cross-border cooperation on infrastructural projects. Stormont Roads Minister Conor Murphy, along with NI Enterprise Minister Arlene Foster, held talks with the Republic's counterpart Tánaiste Mary Coughlan at Dublin Castle on Wednesday.
North-South Ministers Target Infrastructure
A delegation of Irish ministers met in Dublin this week to discuss further cross-border cooperation on infrastructural projects. Stormont Roads Minister Conor Murphy, along with NI Enterprise Minister Arlene Foster, held talks with the Republic's counterpart Tánaiste Mary Coughlan at Dublin Castle on Wednesday.
25 June 2009
Belfast 'Village' Boosts Economy
The newly-built Social Economy Village in west Belfast can help to stimulate economic growth in the local area. That was the message from NI Enterprise Minister, Arlene Foster, as she welcomed the official opening of the new 13,200 square foot development in west Belfast, today.
Belfast 'Village' Boosts Economy
The newly-built Social Economy Village in west Belfast can help to stimulate economic growth in the local area. That was the message from NI Enterprise Minister, Arlene Foster, as she welcomed the official opening of the new 13,200 square foot development in west Belfast, today.
31 March 2009
Armagh 'Woolies' Site Lease Agreed
Best Property services have confirmed that the site of the former Woolworths, Armagh has been agreed for lease this month to discount retail giant Around a Pound. Woolworth in Armagh was one of 19 stores to close in January when the administrators were brought in amid mounting debts of £385m.
Armagh 'Woolies' Site Lease Agreed
Best Property services have confirmed that the site of the former Woolworths, Armagh has been agreed for lease this month to discount retail giant Around a Pound. Woolworth in Armagh was one of 19 stores to close in January when the administrators were brought in amid mounting debts of £385m.
25 February 2009
Downpatrick Masterplan Consultants Appointed
Consultants have been appointed to develop the masterplan for Downpatrick town centre, the Regeneration Minister has revealed. Margaret Ritchie said the consultants will advise on transportation, access and parking changes for the town. They will also identify key town centre sites and make recommendations on their development.
Downpatrick Masterplan Consultants Appointed
Consultants have been appointed to develop the masterplan for Downpatrick town centre, the Regeneration Minister has revealed. Margaret Ritchie said the consultants will advise on transportation, access and parking changes for the town. They will also identify key town centre sites and make recommendations on their development.
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Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
