Summary
BUSINESS leaders claim the Tees Valley is set for "at least two years" of hurt after the failed EUR700bn rescue of the US financial system and record profit falls among UK financial services firms.
A survey by the CBI and PricewaterhouseCoopers said only 10% of firms had increased business volumes in the three months to September, against 61% reporting a drop - a balance of - 51% and the weakest result since the survey started in December 1989. Meanwhile profitability among UK financial services firms declined at a record rate, with a balance of 49% of firms reporting a fall.See the full content of this document
Extract
'Two Years of Hurt' for Tees
With the US House of Representatives rejecting a EUR700bn rescue proposa...
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