yadayada Posted February 13, 2014 Share Posted February 13, 2014 Apparently it will force the reinstatement of Sean as boss of quinn group. I don't see how. Quote Link to comment Share on other sites More sharing options...
Shotoflight Posted February 13, 2014 Share Posted February 13, 2014 Worth a look - ownership down from 68 to 64% Private rented up from 7 to 16% over 11 yrs. + lots more http://www.dsdni.gov.uk/northern_ireland_housing_statistics_2012-13.pdf Quote Link to comment Share on other sites More sharing options...
BelfastVI Posted February 19, 2014 Share Posted February 19, 2014 NI unemployment falls for 12th consecutive month BBC link Quote Link to comment Share on other sites More sharing options...
Shotoflight Posted February 19, 2014 Share Posted February 19, 2014 NI unemployment falls for 12th consecutive month BBC link The seasonally adjusted unemployment rate stands at 7.4% which is above the national average. In fact, the rate which is based on the labour force survey, showed a 0.1% quarterly increase between October and December. Quote Link to comment Share on other sites More sharing options...
Shotoflight Posted February 20, 2014 Share Posted February 20, 2014 Dole queue shrinks, but long-term jobless rises - a bit more analysis http://www.belfasttelegraph.co.uk/business/news/dole-queue-shrinks-but-longterm-jobless-rises-30025995.html Quote Link to comment Share on other sites More sharing options...
Shotoflight Posted February 20, 2014 Share Posted February 20, 2014 Finance Minister Simon Hamilton MLA has welcomed an 18% decrease in external consultancy costs by government departments in Northern Ireland during the 2012-13 financial year. ~ Thursday, 6 February 2014 http://www.northernireland.gov.uk/index/media-centre/news-departments/news-dfp/news-dfp-060214-downward-trend-in.htm Today’s publication of the Department’s Annual Compliance Report on the use of External Consultants shows that expenditure covering 285 external consultancy projects by Government departments, their non-departmental public bodies, and other arm’s length bodies fell to £7.65million in 2012-13. This represents an overall reduction of 77% since annual reporting was introduced in 2007-2008. A hefty 77% cost reduction, though 300 still seems quite a large number Quote Link to comment Share on other sites More sharing options...
Shotoflight Posted February 22, 2014 Share Posted February 22, 2014 (edited) Ulster Bank: RBS chief executive, Ross McEwan, tries to calm job fears http://www.bbc.co.uk/news/uk-northern-ireland-26297567 But a bank workers' union said it was braced for "significant job losses" at the bank. Larry Broderick of the Irish Bank Officials' Association said: "Significant cuts to the branch network on the island of Ireland have also been mooted in some quarters, along with the outsourcing of more of the support functions based in Dublin and Belfast to Edinburgh and further afield." The Ulster Bank employs 6,500 in Northern Ireland and the Republic of Ireland. RBS post office move sparks talk of branch closures http://www.bbc.co.uk/news/business-26294010 The Royal Bank of Scotland (RBS) has announced that customers are going to be able to use more facilities at the network of UK post offices. From later this year, customers of RBS and sister bank NatWest will be able to pay in money at branches - they can already withdraw cash. The scheme is being publicised five days before the bank's annual results. But RBS has refused to comment on speculation that the announcement may be linked to further branch closures. Last year the bank admitted that the number of transactions taking place in branches had fallen by 30% between 2010 and 2013. A spokeswoman told the BBC that any closure decisions would be taken on a case-by-case basis, for example "if footfall had reduced". "If we do close a branch, we make sure customers will still have some banking facilities locally, like a post office or a cash machine," she said. RBS closed more than 80 branches last year and is expected to close more. Its chief executive, Ross McEwan, said the bank had 10% too many branches. Can supermarkets steal more of big banking's business? http://www.bbc.co.uk/news/business-26289191 "It is another area of operation for them, and it is an obvious one for them to expand into because they know so much about their customers, and they have so many customers," says David Black, banking specialist at Consumer Intelligence. "There is also the issue that the banks have a slightly bad reputation among many. So if [supermarkets] can capitalise on that, and use their marketing muscle to showcase their products in the banking and insurance world, they can pick up quite a few customers. They will become a real worry to the banks." Edited February 22, 2014 by Shotoflight Quote Link to comment Share on other sites More sharing options...
Shotoflight Posted February 24, 2014 Share Posted February 24, 2014 Santander agency branches set to close http://www.u.tv/News/Santander-agency-branches-set-to-close/a6ef9aff-274c-4513-84b3-6d57f21f4667 Santander has announced that it has served notice on its five agency branches across Northern Ireland which will see them cease operating under the bank's name. The branches, in Ballyclare, Dundonald, Holywood, Limavady and Kilkeel, offered a limited banking service and are not in the ownership of Santander. Agencies were established as a means of smaller banking institutions and building societies to expand their network by more affordable means than opening fully ledged branches. They would usually have been based in the likes of estate agents or insurance brokers and would have offered basic banking and saving products from the bank or building society under license. Santander has said it has taken the decision to serve notice on its 139 agencies across the UK in a bid to consolidate its service. Santander said that as the agencies were under third party ownership it could not say how many jobs, if any, would be affected. Quote Link to comment Share on other sites More sharing options...
Shotoflight Posted February 26, 2014 Share Posted February 26, 2014 Leisure firm into administration with debts of £3.6m http://www.belfasttelegraph.co.uk/business/news/leisure-firm-into-administration-with-debts-of-36m-30042187.html Shanidar Ltd, led by Dominic Quinn until he stepped down in favour of his son Andrew, ran the Coach, Harry's Bar and the Iveagh Movie Studios in the town and employed over 100 people. The Coach, Harry's and the cinema were put on the market in October last year for £975,000, £475,000 and £1.5m respectively. In December, BDO's Michael Jennings and Brian Murphy were appointed administrators of the company by Bank of Ireland. KPMG is also receiver to the Halls Mill Inn in Banbridge, a pub owned by Mr Quinn but leased to Watermoy Ltd. According to an administrators' report filed this month, Shanidar had been experiencing "difficult trading conditions" over the last few years. The company had already been in a company voluntary arrangement supervised by BDO's advisers since 2009. Mr Quinn also ran vending machine business High Street Investments and arcade game business Treasure Island Amusements. He and his wife Julie were disqualified as directors for nine years over the former in late 2012. Quote Link to comment Share on other sites More sharing options...
Shotoflight Posted February 26, 2014 Share Posted February 26, 2014 Throwing good money after bad? Outlet retail park in Banbridge plans cinema and play centre move http://www.bbc.co.uk/news/uk-northern-ireland-26345878 An £8m investment that would create 200 jobs will attempt to revive the fortunes of one of Northern Ireland's biggest retail parks. The Outlet in Banbridge was opened in 2007 at a cost of £70m, but almost a third of its shop space is vacant. Ulster Bank has owned the park since the original developers got into difficulties. The Outlet was built to capitalise on cross-border trade, but never attracted the numbers of shoppers envisaged. Recently it was valued at £16m. Quote Link to comment Share on other sites More sharing options...
Shotoflight Posted February 26, 2014 Share Posted February 26, 2014 Quantitative easing may have hampered growth, says Andrew Sentance Former Bank of England policymaker claims later asset purchases accentuated the squeeze on real incomes by holding down the value of the pound http://www.telegraph.co.uk/finance/bank-of-england/10663767/Quantitative-easing-may-have-hampered-growth-says-Andrew-Sentance.html Quantitative easing may have slowed Britain’s recovery, according to a former Bank of England policymaker. Andrew Sentance, who sat on the Monetary Policy Committee between 2006 and 2011, said it was likely that the second and third rounds of the Bank's £375bn asset purchase programme - launched in October 2011 and the summer of 2012 - had “hampered growth" rather than helped it. “If anything it accentuated the squeeze on real incomes by holding down the value of the pound," he said at a conference organised by the Institute for Economic Affairs. "I think if the pound had risen, import prices and inflation would have come down more quickly and we would have seen this rebound that came in 2013 more quickly." Mr Sentance said unconventional monetary policies such as QE were not designed to be used for a protracted period of time. "In the short term, QE and big interest rate cuts can deliver a big boost to confidence and financial markets, and stabilise the economy," he said. "But I think the discussion needs to move on to how do we get out of this – [the MPC is] still waiting to get round to this discussion properly." Roger Bootle, managing director of Capital Economics, said loose monetary policies had also reinforced the idea that borrowers would always be bailed out in a crisis. He said while the Bank of England was right to keep interest rates at their record low of 0.5pc and launch QE, he had "a lot of sympathy for savers", who had endured years of financial pain because of the ultra low returns on their savings. "The message that's being given long term for policy is not a very good one. It’s saying that when push comes to shove, this system is going to bail out the housing market, and bail out people who over borrow with no consideration for savers." Quote Link to comment Share on other sites More sharing options...
Shotoflight Posted February 28, 2014 Share Posted February 28, 2014 Women's retailer Internacionale in administration http://www.bbc.co.uk/news/uk-northern-ireland-foyle-west-26381023 The women's clothing retailer Internacionale has gone into administration. The chain has 10 stores in Northern Ireland, employing almost 120 people. It is the third time the business has been in administration since 2008. The administrators said they would welcome offers to buy the firm, but are working with management to agree an orderly wind-down of the company. The shops will continue to trade to sell remaining stock. Staff will be paid, but store closures and job losses seem very likely. Quote Link to comment Share on other sites More sharing options...
Shotoflight Posted February 28, 2014 Share Posted February 28, 2014 Bank insists it is on road to profitability despite losses Figures must be on an "all-island" basis - as will be the job losses http://www.irishnews.com/business/bank-insists-it-is-on-road-to-profitability-despite-losses-1339337 Ulster Bank's losses were just under £1.5bn, although the underlying business continues to improve as it reported operating profits of £317 million. But further crippling impairment charges around the legacy of its property debts - and nearly £1bn being set aside to create an internal bad bank to deal with those property loans over a three-year period - continue to drag the bank down. And Ulster Bank's chief executive Jim Brown confirmed there are likely to be further job losses as part of plans to make savings under a swingeing cost-cutting drive. The headline figures were a considerable improvement on 2012 as Ulster Bank's operating loss reduced by £494m to £546m from £1,040m while total income increased by £26m to £871m. Mortgage impairments also fell by 64 per cent to £235m from £646m as the number of customers more than 90 days in arrears declined for nine successive months. Quote Link to comment Share on other sites More sharing options...
Shotoflight Posted March 2, 2014 Share Posted March 2, 2014 RBS 'considers Ulster Bank merger' http://www.belfasttelegraph.co.uk/news/local-national/northern-ireland/rbs-considers-ulster-bank-merger-30054573.html The taxpayer-backed lender is mulling a tie-up of Ulster with other lenders to strip out costs at the loss-making division and help boost its position in the Irish market, according to The Sunday Times. It is thought that potential merger candidates could be Permanent TSB or the Irish subsidiaries of Danske Banke or KBC. RBS revealed mounting losses at Ulster in last week's annual results, with the business slipping deeper into the red with operating losses of £1.5 billion in 2013 against £1 billion in 2012. It is understood that attempts to find a buyer for the ailing arm have so far failed. But it is a politically sensitive issue for RBS and the Government, given its importance as a lender to the whole island of Ireland and the fact it is the last British-owned retail bank in Northern Ireland. Ulster is the largest bank in Northern Ireland and the third largest in the republic, with more than 1.9 million customers. Quote Link to comment Share on other sites More sharing options...
little fish Posted March 7, 2014 Share Posted March 7, 2014 Throwing good money after bad? Outlet retail park in Banbridge plans cinema and play centre move http://www.bbc.co.uk...reland-26345878 An £8m investment that would create 200 jobs will attempt to revive the fortunes of one of Northern Ireland's biggest retail parks. The Outlet in Banbridge was opened in 2007 at a cost of £70m, but almost a third of its shop space is vacant. Ulster Bank has owned the park since the original developers got into difficulties. The Outlet was built to capitalise on cross-border trade, but never attracted the numbers of shoppers envisaged. Recently it was valued at £16m. Orana Group - a property investment company involved with The Outlet in Banbridge amongst others has gone into liquidation. http://www.belfasttelegraph.co.uk/business/news/investment-firm-with-3000-jobs-promised-goes-into-liquidation-30071110.html Quote Link to comment Share on other sites More sharing options...
BelfastVI Posted March 10, 2014 Share Posted March 10, 2014 Continued economic recovery for NI private sector BBC link Its chief economist Richard Ramsey said: "Firms have now reported an increase in business activity, employment and export orders for eight consecutive months." Quote Link to comment Share on other sites More sharing options...
Shotoflight Posted March 10, 2014 Share Posted March 10, 2014 'Daily signs' of economic recovery http://www.belfasttelegraph.co.uk/news/local-national/northern-ireland/daily-signs-of-economic-recovery-30079401.html During Assembly question time, Mr Hamilton said he was concerned at the level of negative equity among householders - more than 40% of mortgages sold since 2005 - but expressed hope that further recovery in the housing market would resolve that problem for many mortgage holders. Mr Hamilton said while levels of house sales were now at a six year high, the issue of negative equity remained. "I do accept it is a problem," he said. "It is a problem here, as it is a problem elsewhere." But the minister added: "Hopefully a rising property market, a more buoyant confident property market, will resolve many of those negative equity problems here in Northern Ireland." Quote Link to comment Share on other sites More sharing options...
Shotoflight Posted March 11, 2014 Share Posted March 11, 2014 PwC: Northern Ireland's poorest '£1,000 a year worst off' http://www.bbc.co.uk/news/uk-northern-ireland-26520110 Northern Ireland's poorest households are £1,000 a year worse off than 10 years ago, according to new research. A report by PricewaterhouseCoopers (PwC) states they have "suffered most" from a decade of soaring energy and food prices. It said the rising costs were combined with a fall in the real value of wages. Esmond Birnie from PWC said there is evidence Northern Ireland has been "disproportionally impacted by high energy prices". 'Slower rate' More people are in fuel poverty in Northern Ireland than other parts of the UK. According to the report, the lowest earning 10% of the population had experienced consumer price inflation of 40% in the decade up to 2013. The report - UK Economic Outlook - also says that, in real terms, average household incomes in the UK are 7% below the peak levels of 2007. It forecasts they will not fully recover until 2019. Mr Birnie, who is PwC's chief economist in Northern Ireland, said many households needed to budget for rises in interest rates, which he predicted would happen next year. "With Northern Ireland having the highest level of negative equity amongst UK regions, households need to bear in mind interest rate rises in any decisions on mortgages or loans." Quote Link to comment Share on other sites More sharing options...
Shotoflight Posted March 11, 2014 Share Posted March 11, 2014 Northern Ireland employers 'likely to reduce workforces' http://www.belfasttelegraph.co.uk/business/news/northern-ireland-employers-likely-to-reduce-workforces-30080514.html Consumers 'must prepare for interest rate hike' http://www.belfasttelegraph.co.uk/business/news/consumers-must-prepare-for-interest-rate-hike-30080513.html Quote Link to comment Share on other sites More sharing options...
Shotoflight Posted March 11, 2014 Share Posted March 11, 2014 Corporation tax - we've got it http://www.irishnews.com/business/corporation-tax-we-ve-got-it-1341666 T his time next year stormont will finally have the right to set its own rate of corporation tax after an unerring 20-year campaign by business people and politicians. Technical work is currently being drafted up by secretary of state Teresa Villiers and Treasury so that the necessary legislation can go before Westminster immediately after september's scottish Referendum vote and before Parliament dissolves next March. And Northern Ireland's finance minister Simon Hamilton says he is "highly optimistic" that a campaign many detractors believed was "pie in the sky" will now come to fruition and the fiscal powers will be divested to his office. In an exclusive interview with The Irish News, he confirmed: "Things have moved quickly from back burner to front burner, with much dry and technical work going on behind the scenes. "This will ensure that when the right decision is made in the autumn we can get the legislation through in the very short window before Parliament dissolves. "Will it be done? Well, we engage with Treasury regularly and i firmly believe the government are serious about this. "i get a feeling in all my discussions that there is a genuine desire to do something here, so i'm optimistic about it all. Quote Link to comment Share on other sites More sharing options...
Shotoflight Posted March 12, 2014 Share Posted March 12, 2014 ONS stats http://www.ons.gov.uk/ons/rel/regional-trends/region-and-country-profiles/region-and-country-profiles---key-statistics-and-profiles--october-2013/key-statistics-and-profiles---northern-ireland--october-2013.html Quote Link to comment Share on other sites More sharing options...
BelfastVI Posted March 13, 2014 Share Posted March 13, 2014 DVA jobs: 300 go in NI as service moves to Wales BBC link More than 300 jobs at Northern Ireland's Driver and Vehicle Agency (DVA) are being lost. The UK government is centralising services at the DVA in Swansea, Wales. Northern Ireland's Environment Minister Mark H Durkan described the job losses as a "devastating blow". Most of the Northern Ireland jobs are based at the DVA's office in Coleraine, County Londonderry. Quote Link to comment Share on other sites More sharing options...
BelfastVI Posted March 13, 2014 Share Posted March 13, 2014 Belfast shops 'see sales increase' BBc link Shops in Belfast city centre have had a good end to 2013 and good start to 2014, according to two surveys. The surveys, carried out by Belfast City Centre Management in December and January, have both shown an increase in sales in the city. The number of people visiting shops is also up. Michelle Jackson, manager of Victoria Square shopping centre and chair of the Retail Steering Group, welcomed the findings. "Following a particularly challenging first half of the year in 2013, the upturn in trade shows that confidence in Belfast city centre as a shopping destination is returning," she said. "Early signs are already indicating that performance figures in 2014 are continuing to reflect this positive growth." Quote Link to comment Share on other sites More sharing options...
Shotoflight Posted March 13, 2014 Share Posted March 13, 2014 Loss of hundreds of DVA jobs devastating - Durkan http://www.northernireland.gov.uk/index/media-centre/news-departments/news-doe/news-doe-130314-loss-of-hundreds.htm This decision represents the loss of funding for over 300 jobs, 235 of which are in Coleraine and an assessment by independent economists estimates that the knock-on impact will equate to the loss of around 500 jobs and will remove £22million from the economy. Quote Link to comment Share on other sites More sharing options...
Shotoflight Posted March 13, 2014 Share Posted March 13, 2014 Assembly Finance Minister: Grim warning on public spending cuts http://www.bbc.co.uk/news/uk-northern-ireland-26567010 NI Assembly Finance Minister Simon Hamilton has sounded a grim warning about future cuts in public spending. In a speech in Belfast he said it was becoming increasingly clear that the next number of years would eclipse even the last four years of austerity. He said that while the economy was on the mend, the Treasury had signalled a 17% drop in expenditure over the next five years. Mr Hamilton said it was not yet clear what that meant for Northern Ireland. "We do not have data for that far in advance," he said. However, he has already committed to savings of £300m between 2013 and 2016. Quote Link to comment Share on other sites More sharing options...
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