Businessweek round-up: Ireland’s future, how the markets influence sheep thieves and Christmas shopping in Wales

Cardiff Business News

An uncomfortable week ahead for the Irish

It will be an uneasy week for Ireland as its Budget for 2011 will be announced on Tuesday. The Guardian has called for the Irish politicians to go back to the IMF to renegotiate its bailout package as the Irish taxpayer is expected to pay one out of every five pounds in interest on its debt. If it a renegotaition is not reached, writes the Guardian, a further bailout deal could lead to a ‘Treaty of Versailles’ scale legacy on the Irish Economy.

Irish Prime Minister (Taoiseach) Brian Cowen
A worried Brian Cowen, Ireland’s Prime Minister

Sheep Thieves influenced by market trends

It is very rare that the Financial Times makes me laugh, but this weekend’s edition induced a chuckle as I read the headline “Ram-raiders flock to rustle sheep as global trends shepherd in price rises.” It wasn’t so much the Sun-esque headline that grabbed my attention but the fact that farmers will have to be watching the markets to anticipate new trends in the activities of thieves. The FT’s North of England Correspondent, Andrew Bounds, explains: “The weak pound means many sheep are being exported, while traditional sellers such as New Zealand are struggling with drought and sending what lambs they do have to newly wealth Asia. This is helping push up prices at home.”

As prices are pushed up, stealing sheep becomes more profitable. The same happens when commodity prices such as steel rise. In such instances theives have stolen manhole covers.

Lying sheep
Sheep Raiding is at a 10 year high

A round up of the Welsh Business News

Christmas is on its way and many shoppers are holding off for a bargain in the early sales. But Director of St. Davids Mall, Steven Madaley, has warned retailers won’t be slashing prices before the official post-Christmas sales. The higher rate of VAT is to come in this January, encouraging pre-Christmas buying.

Don’t bank on pre-Christmas sales, warns centre director

The Welsh Assembly Government has announced a consultation session on the future of the banking system as the Independent Commission on Banking (ICB) comes to Wales next week. The ICB will be at the Pierhead in Cardiff Bay on December 8 to debate and hear evidence.

Have a say on banking system

Other Cardiff Related Business News:

Languages needed to boost exports

Biotech firm makes acquisition

Doubts over Cardiff Bay plan for sector aid to companies

More next week.

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