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17/09/2001
Share prices plunge as New York Stock Exchange reopens
Share prices have fallen rapidly on Wall Street after the New York Stock Exchange and the Nasdaq re-opened for the first time since last week’s terrorist attacks on the World Trade Center buildings.
The Dow Jones Industrial Index dropped below the 9,000 points barrier, shedding 225 points, and the Nasdaq dropped over 100 points.
Just before the opening the US Federal Reserve attempted to boost the markets by cutting US interest rates from 3.5 per cent to three percent.
London’s main shares index fell more than six per cent over the week to close at the lowest level in three years, while Frankfurt stocks lost 13 per cent, Paris 11 per cent, and Tokyo fell by 4.8 per cent.
The cuts came sooner than expected, but it failed to prevent the shares from dropping.
There were emotional scenes on Wall Street as the stock market re-opened for the first time since the attacks that have devastated much of the financial district and left thousands of people dead or injured. (CD)
The Dow Jones Industrial Index dropped below the 9,000 points barrier, shedding 225 points, and the Nasdaq dropped over 100 points.
Just before the opening the US Federal Reserve attempted to boost the markets by cutting US interest rates from 3.5 per cent to three percent.
London’s main shares index fell more than six per cent over the week to close at the lowest level in three years, while Frankfurt stocks lost 13 per cent, Paris 11 per cent, and Tokyo fell by 4.8 per cent.
The cuts came sooner than expected, but it failed to prevent the shares from dropping.
There were emotional scenes on Wall Street as the stock market re-opened for the first time since the attacks that have devastated much of the financial district and left thousands of people dead or injured. (CD)
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28 August 2001
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The London stock exchange’s FTSE 100 share index took a dive on Tuesday afternoon as the market reacted to news that US consumer confidence data was weaker than analysts expected. The US data revealed that consumer confidence was at a four-month low.
London FTSE dips on news of weak US consumer data
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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.
01 November 2018
CMA Launches 'Stop Cartels' Campaign
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CMA Launches 'Stop Cartels' Campaign
New research has revealed that many firms don't know enough about how to comply with competition law, according to the Competition and Markets Authority's (CMA). Citing this research, the CMA has launched a cartel awareness campaign, which aims to educate businesses about which practices are illegal.
04 March 2002
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 WeatherThis Evening and Tonight:It will be dry with a few cloud breaks developing later in the night. Feeling quite mild although breezy again in the north with brisk southwest winds. Minimum temperature 10 °C.
