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Gold/Mining/Energy : Gold Price Monitor

GDXJ 105.33

+5.2%

Nov 26 4:00 PM EST

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To: Alex who wrote (15474)	8/7/1998 5:05:00 PM
From: Lalit Jain	Read Replies (2) of 116770

Hi Alex, More companies go bust Over 250 companies are going bust each week in England and Wales according to official government figures. The Department of Trade and Industry said that 3,346 companies became insolvent in the UK in the second quarter of 1998. The rate of growth in the number of insolvencies is rising sharply as the UK economy slows down. The number of companies going bust rose 4.7% from the first quarter of the year, and was up 6.4% from the same period last year. The increase will be regarded as another indicator of the growing recession that is hitting the UK manufacturing sector. The government has estimated that around 1.2% of actively trading companies became insolvent in the 12 months to July 1998. Individual insolvencies also rose to 6,214, an increase of 2.2% from the previous quarter. news.bbc.co.uk

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