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David Prosser: The jams are no easier this side of the Atlantic

Outlook While the collapse of America's largest car manufacturers continues to fascinate and appal in equal measure, relatively little attention has been paid to the dismal outlook facing the US auto giants' opposite numbers in Europe. Britain's car industry, for example, is in a desperate state, with sales down 23 per cent last month to their lowest levels since 1991.

Building supplies firm Wolseley to shed 2,000 jobs

Plumbing and building supplies firm Wolseley today announced plans to cut 2,000 jobs and close more than 200 branches in the UK and Ireland.

CEOs Urge at Least $300B in Next Fiscal Stimulus
Chief executives of leading U.S. companies called for a fiscal stimulus package worth at least $300 billion and urged president-elect Barack Obama to swiftly name his economic team.
Hamish McRae on the shape of the downturn: will it be a U, a V, or even an L?

Short and deep or long and shallow? Now that use of the R-word is officially sanctioned by the Bank of England and the Chancellor we can have a proper debate about the likely profile of the recession. You can think of it innumbers – what the drop peak-to-trough will turn out to be – or in the shorthand of letters: what growth might look like when plotted on a graph: a V, a W, or a U. And if you want to be really pessimistic, add an L.

Surprise as High Street fights back

Official sales figures from the UK high street continued to defy expectations today.

Housing starts now at lowest level for 50 years

Construction of new homes in the United States plunged last month to the lowest level for nearly 50 years as builders slashed production while Wall Street nosedived.

Market Report: Debt fears weigh on Johnston Press

The Regional newspaper publisher Johnston Press lost more than 19 per cent of its value last night after analysts at Teathers said that a covenant breach looked "likely" in light of new assumptions about the impact of the current advertising slowdown.

It's official: eurozone collapses into its first recession

Europe's economy officially collapsed into recession for the first time since its inception during the third quarter, boosting hopes that the European Central Bank will be forced to cut interest rates again in December.

Game Review: Grand Theft Auto IV

There aren’t many games that let you steal cars, get involved in a cop chase and punch passing pedestrians, all in between picking out a spiffy new shirt and bringing your date to the local bowling alley.

US acquisition helps to boost Trintech's Q3 revenue by 31pc

Financial software company Trintech has reported a 31pc increase in revenues to $10.1m (€8.03m) for its third quarter. Revenue for the Irish-founded company increased from last year's third-quarter figure of $7.7m. Net income before tax was $550,000 for the three-month fiscal period up to the end of October. The balance sheet has net cash at $18.1m.

Market Report: DSG hits 27-year low on Citi downgrade

DSG International slumped to its lowest level since the early Eighties last night after its house broker Citigroup, reiterating its "sell" rating, slashed its earnings forecasts for the troubled retail group.

Mortgage lenders to demand 20pc cash deposits

THE housing market suffered a new blow after it emerged last night that house buyers will have to come up with at least 20pc of the value of properties they plan to buy.

Property activity may increase, but prices will suffer further falls

John Moran forecasts further falls in commercial property prices in the short-term but believes that the market is nearing its trough. But the incoming managing director of one of Ireland's top four commercial property consultants Jones Lang LaSalle also sees a number of silver linings in the clouds overhanging the property market.

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