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03rd of July 2011
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News Tag: slump

June 28, 2011

Carpetright profits hit by challenging conditions

by Kay Mitchell
”Carpetright
Carpetright has today added to the doom and gloom surrounding the retail sector by announcing a 70% fall in annual profits. The company blamed "very challenging trading conditions” after profits for the year to 30 April came in at £6.6 million – down from £22.3 million a year ago. Meanwhile, annual revenues were down 6% at £486.8 million. The figures come on the same ...




April 4, 2011

Spanish unemployment continues to climb

by Kay Mitchell
Spanish unemployment continues to climb
Figures have today revealed the unemployment rate in Spain rose to 20.5% - twice the euro zone average. According to the Ministry of Labour, there are now 4.33 million people out of work - the highest since 1996. Meanwhile, the benefit claimant count rose by 34,406 people. Spain currently has the highest unemployment rate in the industrialised world. The country has been hit by ...




January 28, 2011

Spanish unemployment rate back above 20%

by Kay Mitchell
”Spanish
The national statistics institute INE today announced the unemployment rate in Spain is at the highest level since the second quarter of 1997. Spain, which has the highest unemployment rate in the EU, has been hit by a severe slump within its key construction industry, which has led to a significant amount of job losses. Figures today revealed there were 4.697 million ...




January 18, 2011

Rics: Housing activity slumped in December due to big freeze

by Kay Mitchell
Rics: Housing activity slumped in December due to big freeze
The Royal Institution of Chartered Surveyors (Rics) has today revealed activity in the UK housing market fell in December as heavy snowfall gripped most of the country during the month. The Institution said new buyer enquiries were down, while new instructions from vendors fell to an 18-month low. Uncertainty surrounding the economy and the ongoing mortgage rationing also continued ...




November 17, 2010

US housing starts dive in October

by Kay Mitchell
US housing starts dive in October
The Commerce Department has revealed a severe decline in US housing starts for the month of October - falling to a near record low. According to the Commerce Department, construction of new US homes fell 11.7% on a monthly basis to a seasonally adjusted annual rate of 519,000 units – the lowest since April 2009 when an all-time low of 477,000 was ...




October 31, 2010

Spanish unemployment rate falls below 20% mark

by Kay Mitchell
Spanish unemployment rate falls below 20% mark
Spain’s statistics office has revealed that the country’s unemployment rate has finally fallen - to 19.8% in the July-September period. It was the first fall in unemployment in three years but the rate still remains the highest in Europe. Spain’s jobless rate is almost double the 10% for the euro zone as a whole with the total number of unemployed in the ...




October 28, 2010

Santander hit by bad loan provisions

by Kay Mitchell
”Santander
Spanish banking giant, Santander, has today reported a fall in third quarter profits, due to changes on bad loan provisions. The bank, which is the euro zone’s largest, said third quarter profits fell 13% to €2.1 billion (£1.8 billion) as provisions for bad loans hampered results. Before the changes to one-off provisions, which were put in place as a precautionary reserve for ...




June 14, 2010

Survey reveals record fall in UK business confidence

by Kay Mitchell
”Survey
A survey among UK companies has found that confidence has plunged to a level not seen since 1995, as a result of the Government’s tough spending cuts. BDO’s Business Trends index, which covers 11,000 companies from a range of industries, slumped to 97 in May from 103.3 in April - the largest fall since the survey commenced. The survey, which is ...




April 27, 2010

Spain’s unemployment rate exceeds 20%

by Kay Mitchell
Spain’s unemployment rate exceeds 20%
Official figures have today revealed that Spain’s unemployment rate has reached 20.05% - the highest level in 13 years. The economy has been hit by a severe slump within its key construction industry, which has led to a significant amount of job losses. Spain’s jobless rate is double the 10% for the euro zone as a whole with the total number of jobless in ...




March 29, 2010

WTO sees pick up in world trade after 2009 slump

by Kay Mitchell
WTO sees pick up in world trade after 2009 slump
The World Trade Organisation (WTO) said it expects to see a strong recovery in world trade this year after experiencing the sharpest decline in over seven decades. According to the WTO, world trade fell by 12.2% last year as the economic crisis resulted in a slump in consumer confidence and dented demand. The world’s wealthiest economies such as the ...




March 16, 2010

Shell steps up cost-cutting programme with further job losses

by Kay Mitchell
”Shell
Oil giant Royal Dutch Shell has today announced it will axe a third of its global petrol station network and shed a further 1,000 jobs by the end of next year, as part of its ongoing cost cutting programme. The Anglo-Dutch firm, which is Britain’s second largest oil company, has been hit by a slump in demand for ...




March 15, 2010

Passenger numbers in record slump at UK airports

by Kay Mitchell
”Passenger
Figures published by the Civil Aviation Authority (CAA) have revealed a severe decline in passenger numbers across UK airports in 2009. According to the CAA, the UK's airports handled 7.4% fewer passengers in 2009 than in 2008 - marking the biggest drop since records began just after World War II. It was also the first time levels have fallen two years ...




March 11, 2010

“Blue skies ahead”, say IATA

by Kay Mitchell
“Blue skies ahead”, say IATA
According to the International Air Transport Association (IATA), the global airline industry is improving, with both passenger and freight numbers expected to grow this year. In January, the industry body said 2009 saw the biggest decline in air passenger traffic since the aftermath of World War II. The global economic downturn had a devastating impact on the airline industry, which led to a slump ...




February 4, 2010

Shell Q4 profits plunge 75%

by Kay Mitchell
”Shell
Oil giant Royal Dutch Shell has today posted a 75% fall in profits for the fourth quarter to $1.2 billion (£755 million), compared with the $4.8 billion the company made a year ago. The Anglo-Dutch company, which is Britain’s second largest oil company, has been hit by a slump in demand for oil from a weak global economy. For the full 2009-year, the ...




January 27, 2010

Airline industry suffers worst ever year

by Kay Mitchell
”Airline
The airline industry has been hit hard during the global economic downturn, which has led to a slump in demand for air travel with fewer people travelling. Many airlines went bust during the downturn, not just due to a fall in demand but also as a result of higher fuel prices. According to the International Air Transport Association (IATA), 2009 saw the biggest ...




January 25, 2010

Ericsson announces more job losses as profits slump

by Kay Mitchell
”Ericsson
Swedish telecoms equipment maker Ericsson is to eliminate a further 1,500 jobs, as it posted a 92% slump in fourth quarter profits. The company said net profit for the October to December period was 314 million kronors (£27 million), compared with 3.89 billion kronors in the same period a year earlier. The results were far worse than analysts had expected. Meanwhile, ...




January 13, 2010

German economy contracts record 5% in 2009

by Kay Mitchell
German economy contracts record 5% in 2009
The Federal Statistics Office has today revealed that the German economy, which is Europe’s largest, contracted by a record 5% in 2009 - the first time in six years the economy had shrunk and the deepest since World War II. The record contraction was due to a slump in demand in exports and investment. In 2009, exports plunged by 14.7% on the ...




January 11, 2010

Bankruptcy looming for Japan Airlines

by Kay Mitchell
”Bankruptcy
Troubled Japan Airlines (JAL) is expected to enter bankruptcy proceedings within the next couple of days, according to reports. It is believed the state-owned Development Bank of Japan has already agreed to the bankruptcy. The airline, which is Asia’s largest carrier, is grappling with a mountain of debt and it is currently under the watchful eye of the state-backed turnaround body (the Enterprise Turnaround ...




December 7, 2009

German factory orders see unexpected fall in October

by Kay Mitchell
German factory orders see unexpected fall in October
The Economy Ministry in Berlin has today revealed a fall in German factory orders for the month of October. The monthly fall of 2.1% was the first in eight months and came as a surprise after analysts had expected the recent rise in orders to continue. The fall was led by a slump in export demand. Germany is Europe's largest ...




JAL shares up on Government funding rumours

by Kay Mitchell
”JAL
Struggling Japan Airlines (JAL) saw it shares soar 7% to 107 yen today after speculation that the Japanese Government is looking to guarantee about 700 billion yen ($7.8 billion; £4.7 billion) in loans to the debt-laden airline. Since 2001, JAL, which is Asia’s largest carrier, has been bailed out four times by the Government. The airline has been struggling amid the global ...




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