This Week

The recent trend of companies cutting costs i.e. downsizing or restructuring, continues with the news this week that Aer Arann is laying off 25% of its workforce and Yahoo are planning to cut 10% of its workforce worldwide. The effects of the global recession continue.

The dollar continues to rise in value against the Euro. The current exchange rate is now €1= $1.28
The Euro continues to decline as the ECB is expected to cut interest rates in the next 6 months.

For those studying Economics: Why would interest rates have an effect on the exchange rate?

Keep up to date with the daily business news.

I will be posting next week about Business on the Web – podcasts, videos and other business websites. Meanwhile, Yahoo have a section on their site called Yahoo Answers. This is where the public can ask questions and share information. Take a look at the Business & Finance page on Yahoo Answers.

As you know, Youtube is not available in school. So, the remainder of this post will be blank if you are on the school network. Here is a good video on Warren Buffett by a Youtube user.

There aren’t many good movies about the stock market or shares. The two most well known ones are Wall Street and Rogue Trader.

Gordon Gekko – Greed is Good

Nick Leeson

Nick Leeson

Rogue Trader
is the story of UK trader Nick Leeson, the man who brought down the world’s oldest bank through unauthorised share trades.

Where is he now?


3 Responses to “This Week”

  1. 1 Joe October 24, 2008 at 12:15 am

    Due to the decline in tourists coming from America to ireland, The affect on the US tourism will also see a drop as the exchange rate does not benefit any individual.
    With the close relationship between the United states and ireland, It strikes me that the americans will be seeing alot less of the Irish,even in immigration.

    The united states and ireland signed an agreement recently , allowing Irish people to travel to any destination of the united states to work and live there for a full 12 months.

    you will find information on this subject on the following site

  2. 2 shanereilly October 24, 2008 at 12:46 am

    Altough its a comedy, Trading Places gives a good lessons on short-selling and commodities. I think you can find the final scene on youtube.

  3. 3 Daragh October 24, 2008 at 11:19 pm

    in this climate companies are forced to cut costs as they can not afford to keep so many workers and pay their companies expenses.

    this is understandable as companies must maintain profits.

    generally companies are set up to make maximum profits.
    in order for companies to do this they must have the costs of production at a minimum.
    so what im wondering is, if these companies can afford to (lay off 25 percent of its workforce) it gets you wondering from the companies point of view, why are they only doing this now.

    i no there is less wealth around but not 25 percent less

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