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07/09/2001
Global stock markets take further tumble
Although the Nasdaq recovered slightly in afternoon trading thanks to some good news in the technology sector, a higher than expected rise in the US unemployment rate served to reinforced the current downward trend in global stock markets.
Official data from the US Department of Labour shows that in the US unemployment jumped to 4.9 per cent in August, almost half-a-percent more than expected by most economists.
The statistics show American unemployment figures now standing at their highest rate since September 1997, prompting concerns over a further ‘emergency’ cut in US interest rates, aimed at staving off a possible recession.
Following the news, the Dow Jones industrial average index of leading shares lost over 100 points in the first few minutes of trading. However, the Nasdaq index received a boost in the form of firm third quarter results from chip maker Intel.
But by mid-afternoon the FTSE 100 had fallen even further than the previous day’s low to take the index to a new three-year low.
The news, combined with negative growth figures for the Japanese economy, have seen the Asian stock markets take a similar tumble, with share prices plummeting throughout Taiwan, Hong Kong and Japan, as the latter approaches a potential recession, in tandem with the US. (CL)
Official data from the US Department of Labour shows that in the US unemployment jumped to 4.9 per cent in August, almost half-a-percent more than expected by most economists.
The statistics show American unemployment figures now standing at their highest rate since September 1997, prompting concerns over a further ‘emergency’ cut in US interest rates, aimed at staving off a possible recession.
Following the news, the Dow Jones industrial average index of leading shares lost over 100 points in the first few minutes of trading. However, the Nasdaq index received a boost in the form of firm third quarter results from chip maker Intel.
But by mid-afternoon the FTSE 100 had fallen even further than the previous day’s low to take the index to a new three-year low.
The news, combined with negative growth figures for the Japanese economy, have seen the Asian stock markets take a similar tumble, with share prices plummeting throughout Taiwan, Hong Kong and Japan, as the latter approaches a potential recession, in tandem with the US. (CL)
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19 May 2011
Foster Welcomes 0.8% Fall In Dole Queue
Unemployment is showing a marginal decrease with the latest data released today for the period January - March 2011 showing that the Northern Ireland unemployment rate decreased over the quarter to 7.2%.
Foster Welcomes 0.8% Fall In Dole Queue
Unemployment is showing a marginal decrease with the latest data released today for the period January - March 2011 showing that the Northern Ireland unemployment rate decreased over the quarter to 7.2%.
20 June 2011
BBC's Formula One 'Heading For Pits'
With programming costing a huge £1 per viewer, the BBC may be forced to drop its Formula One (F1) motor racing coverage. The BBC must make savings and the £60m a year F1 costs - or £3m for each race - it is the most expensive programme being broadcast.
BBC's Formula One 'Heading For Pits'
With programming costing a huge £1 per viewer, the BBC may be forced to drop its Formula One (F1) motor racing coverage. The BBC must make savings and the £60m a year F1 costs - or £3m for each race - it is the most expensive programme being broadcast.
12 March 2009
German Airline Deal Takes Off For Bombardier
A local aircraft manufacturer is flying high today with news of a major international contract - which is also boosting jobs.
German Airline Deal Takes Off For Bombardier
A local aircraft manufacturer is flying high today with news of a major international contract - which is also boosting jobs.
15 May 2002
News Corp reveals multi-billion pound write down
Rupert Murdoch's global media network News Corporation has announced a profits gain in the third quarter, but had to write down a massive £2.74 billion investment in the Australia-based Gemstar television during the same period.
News Corp reveals multi-billion pound write down
Rupert Murdoch's global media network News Corporation has announced a profits gain in the third quarter, but had to write down a massive £2.74 billion investment in the Australia-based Gemstar television during the same period.
21 February 2002
German news agency to establish English service in Cork
Mary Harney, Tánaiste and Minister for Enterprise, Trade and Employment has announced that Deutsche Presse-Agentur Gmbh (dpa), Germany's leading news agency, is to create 20 new high quality jobs in Cork by the end of this year.
German news agency to establish English service in Cork
Mary Harney, Tánaiste and Minister for Enterprise, Trade and Employment has announced that Deutsche Presse-Agentur Gmbh (dpa), Germany's leading news agency, is to create 20 new high quality jobs in Cork by the end of this year.
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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.
