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03/12/2001
UK service sector confidence continues to fall
The latest quarterly survey of the UK service sector by the Confederation of British Industry (CBI) and Deloitte & Touche has found business volumes, confidence, profitability and prices are all falling.
While the slowdown in the UK service sector is getting worse and more interest rate cuts may be needed according to a new report, many experts are arguing that the Bank of England's Monetary Policy Committee (MPC) should consider cutting the UK interest rate further.
However, the Bank of England has already cut rates seven times this year, bringing the UK base rate down to 4 per cent, as it tries to steer the UK's economy away from a recession many analysts have been predicting has been on the cards.
The survey found the volume of business dropping sharply across all service areas. Consumer services had slipped 39 per cent down to stand at minus 59 per cent, compared to minus 20 per cent. While in business and professional services the balance was down 17 per cent, to minus14 per cent, compared to plus 3 per cent in the survey last quarter.
Prices, profits and confidence also fell over the three-month period and the sector is set for a tough three-months ahead. (MB)
While the slowdown in the UK service sector is getting worse and more interest rate cuts may be needed according to a new report, many experts are arguing that the Bank of England's Monetary Policy Committee (MPC) should consider cutting the UK interest rate further.
However, the Bank of England has already cut rates seven times this year, bringing the UK base rate down to 4 per cent, as it tries to steer the UK's economy away from a recession many analysts have been predicting has been on the cards.
The survey found the volume of business dropping sharply across all service areas. Consumer services had slipped 39 per cent down to stand at minus 59 per cent, compared to minus 20 per cent. While in business and professional services the balance was down 17 per cent, to minus14 per cent, compared to plus 3 per cent in the survey last quarter.
Prices, profits and confidence also fell over the three-month period and the sector is set for a tough three-months ahead. (MB)
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15 March 2002
London still most expensive city for office space
London remains the world's most expensive city to rent office space, with average annual occupancy costs of around £1,072 per square metre. International property consultants Healey & Baker looked at 45 countries around the world, analysing the total costs of occupying office space in 100 locations.
London still most expensive city for office space
London remains the world's most expensive city to rent office space, with average annual occupancy costs of around £1,072 per square metre. International property consultants Healey & Baker looked at 45 countries around the world, analysing the total costs of occupying office space in 100 locations.
11 October 2001
Motorola cuts a further 7,000 jobs
Mobile phone maker Motorola is set to axe a further 7,000 jobs worldwide bringing the company’s total job cuts to 39,000 since the start of the year. Motorola chief Robert Growney revealed that around 4,000 of the latest losses were associated with sold businesses, with a further 3,000 earmarked for loss through cuts and attrition.
Motorola cuts a further 7,000 jobs
Mobile phone maker Motorola is set to axe a further 7,000 jobs worldwide bringing the company’s total job cuts to 39,000 since the start of the year. Motorola chief Robert Growney revealed that around 4,000 of the latest losses were associated with sold businesses, with a further 3,000 earmarked for loss through cuts and attrition.
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Top Consignia directors decline 10 per cent pay hike
Two senior directors of postal company Consignia have decided not to accept a 10 per cent pay rise following anger among postal unions.
Top Consignia directors decline 10 per cent pay hike
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21 February 2002
Oftel urges BT to cut internet costs
Telecommunications regulator Oftel has recommended that BT slash their costs for unmetered Internet access. Oftel wants BT to cut the amount it charges Internet service providers to use their existing telephone network by seven per cent.
Oftel urges BT to cut internet costs
Telecommunications regulator Oftel has recommended that BT slash their costs for unmetered Internet access. Oftel wants BT to cut the amount it charges Internet service providers to use their existing telephone network by seven per cent.
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Northern Ireland WeatherToday:A generally dry and bright day with some sunny spells. However, thicker cloud could give patchy rain at first near North Channel coasts, perhaps the odd shower breaking out in the west later in the afternoon. Maximum temperature 16 °C.Tonight:Any showers in the west soon dying out, dry for most with some clear spells. Showery outbreaks of rain could develop across parts of the south overnight. Minimum temperature 7 °C.
