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Baker Tilly Mooney Moore reacts to Executive decision on Covid-19 restrictions

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Photo/Paul McErlane

Reacting to the Executive decision on Covid-19 restrictions, Stephen McConnell, Business Services Partner at Baker Tilly Mooney Moore said:

“Today’s announcement, and any further restrictions in response to the Omicron variant, must be followed with an appropriate financial support package if the affected businesses are to withstand this latest phase. Many companies, including in the hospitality sector, are now making repayments to the Bounce Back Loan Scheme and various other support measures, meaning they are facing another period of restrictions as they pay off debts from the last one.”

“Business owners here have demonstrated their resilience and pragmatism as they adapted to various levels of restrictions since the onset of the pandemic in March 2020. Many did return to full operations in the past number of months and began making repayments to the various loan schemes before footfall began to drop again in line with a fall in public confidence. Now, with VAT set to return to 20% and business rates to reset to normal in just a matter of months, these businesses are facing another Christmas and New Year with limitations on their ability to make financial gain. We know that they have the resilience to adapt once again, but business owners will be awaiting details of a further financial support package to help them stay afloat.”

What’s next for Bay Bridge after coming up short at Royal Ascot?

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Bay Bridge

After a stunning victory in the Group 3 Brigadier Gerard Stakes at Sandown in late May, Bay Bridge was one of the most talked about horses in the build up to Royal Ascot — and the Sir Michael Stoute-trained four-year-old was heavily tipped in the horse racing betting markets to make June an even better month for the veteran trainer, after Desert Crown strolled to victory in the Derby at Epsom.

However, despite setting off as 10/11 favourite for the Prince Of Wales’s Stakes on the second day of the royal meeting after that impressive performance on his seasonal reappearance at Sandown, Bay Bridge came up just short of the mammoth £599,708-winning prize purse in his first challenge against Group 1 opposition — losing to 5/1 chance State Of Rest.  

The four-year-old was expected to blow away the field in similar fashion to his five-length triumph over Mostahdaf in the Brigadier and when Frankie Dettori had an absolute nightmare getting the blindfold off second favourite Lord North in the stalls — completely missing the break and losing many lengths — it seemed Bay Bridge’s task of landing that maiden Group 1 victory was made a lot easier.

But State Of Rest made all the running in the one-mile, two-furlong contest, increasing the tempo at the two-furlong marker and kept on well in the closing stages to the point where Bay Bridge and Ryan Moore, who were also keeping on well, were never going to catch the Joseph O’Brien-trained horse.

Ultimately, Bay Bridge and Moore — in the red and blue sash silks of James Wigan and Ballylinch Stud — finished a length behind the winners, resulting in plenty of bet slips up and down the country being shredded into pieces and followers of the horse feeling somewhat underwhelmed by the performance — even though it was by no means poor display, nor a bad first attempt at Group 1.

But it does leave you begging the question: What is next for Bay Bridge? Well, Stoute, who is one of the oldest trainers left in the sport, has hinted that he could be upped in trip to a mile and a half after claiming that his horse ‘ran a very big race’ and that he was delighted with the performance.  

“The race didn’t pan out brilliantly for Bay Bridge but he ran a very big race and we were absolutely delighted with him,” the veteran handler said. “We didn’t know about him on this quicker ground but it didn’t inconvenience him.

“He has plenty of options and we need to think about whether we stick with a mile and a quarter or go up to a mile and a half, but we won’t make a decision for a little while.”

The potential of being upped in trip to a mile and four furlongs means that Bay Bridge could miss the Eclipse back at Sandown, where he, of course, won the Brigadier, on July 2nd. The four-year-old is the 5/1 second favourite behind Irish 2,000 Guineas winner Native Trail in the Group 1 race’s ante-post market at the time of writing.

Of course, if Bay Bridge is successful if asked to go the extra two furlongs, then the prestigious Prix de l’Arc de Triomphe could an option later in the season — where the four-year-old could go up against Derby winner Desert Crown, who is already as short as 2/1 to win the famous Longchamp contest.

Perhaps the King George VI and Queen Elizabeth Stakes back at Ascot next month could be the first test of Bay Bridge over a mile and a half. He would face stiff competition from the likes of Desert Crown, Hurricane Lane and Emily Upjohn, but he might as well be tested.

There’s no point jumping to conclusions at this stage, Stoute has said he is going to take his time before making the decision. So, all we can do is wait for that verdict, either way it will be interesting to see if Bay Bridge can bounce back from this.

Aer Lingus Regional Announces Two New Routes to Cardiff and Southampton from Belfast City

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Emerald Airlines,

Emerald Airlines, exclusive operator of Aer Lingus Regional, announces two new services to Cardiff and Southampton from Belfast City Airport.

Already servicing Birmingham, Edinburgh, Leeds Bradford, Glasgow, Exeter, and Manchester, Aer Lingus Regional will now operate Cardiff and Southampton routes from Belfast City Airport further reinforcing its presence as the largest airline at the city centre airport.

Commenting on the announcement, Ciarán Smith, Head of Commercial at Emerald Airlines said:

“As we near the peak summer months, the launch of our Cardiff and Southampton services will provide those travelling from Belfast with more choice when planning their holidays. When quick getaways are on the top of everyone’s mind, we are offering convenient timings and low fares, increasing connectivity to and from Northern Ireland.


“We are extremely pleased with the feedback we have received since beginning our operations from Belfast City Airport and believe Cardiff and Southampton are great new connections that will cater to both business and leisure travellers with direct, convenient and cost-effective flights from Belfast. In addition, we will continue to add more routes and increase frequencies over the coming months.”

Ellie McGimpsey, Aviation Development Manager at Belfast City Airport, said:

“Aer Lingus Regional’s base at Belfast City Airport has been operational for just over 3 months and we are thrilled to already see expansion in both the number of routes served by the airline and the frequency of its services.


“With the addition of Cardiff and Southampton, Aer Lingus Regional will now operate routes to 8 of the 21 destinations Belfast City Airport will fly to this summer.

“We are seeing more and more passengers choosing Belfast City Airport due not only to our extensive choice of flights, but because of our proximity to the city centre – just a five-minute drive – and our excellent security processing times which average six minutes.”

Passengers can also book flights from Belfast City Airport to Birmingham, Edinburgh, Leeds Bradford, Manchester, Glasgow, and Exeter. Passengers will be able to earn Avios points on all Aer Lingus Regional flights, providing continuity and benefits of the current services offered by both Aer Lingus and British Airways at Belfast City Airport. Tickets can be booked through AerLingus.com and britishairways.com.

Aer Lingus Regional flights will be operated by the ATR72-600, the latest generation of turboprop aircraft combining unmatched environmental and economic performance.  These ultra-low fuel burn aircraft emit up to 40% less CO₂ on these short, regional flights.

Recruitment is ongoing at Emerald Airlines for positions in Belfast and Dublin. Further information on vacancies can be viewed here.

Customers who book onto these routes operated by Emerald Airlines through www.ba.com  or www.aerlingus.com can also earn and burn Avios and Tier points as part of British Airways’ Executive Club and Aer Lingus’ AerClub programme.

BHD – Cardiff Schedule

FromToStart DateFrequencyDep Time
BelfastCardiff07 JulyM Th F S Su10:10
CardiffBelfast07 JulyM Th F S Su12:00

BHD – Southampton Schedule

FromToStart DateFrequencyDep Time
BelfastSouthampton07 JulyM T W TH F SU15:00
SouthamptonBelfast07 JulyM T W TH F SU17:10
BelfastSouthampton07 JulyS09:55
SouthamptonBelfast07 JulyS12:05

29 Artists Taking Part In The 2022 Belfast City Blues Festival

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Running from June 24-26, the Guinness Belfast City Blues Festival will be taking place in venues across the city, coming back in full swing after a virtual event in 2020 and a successful run in 2021/22 at The Guinness Blues Café at the Deer’s Head.

The three-day festival allows for both established and budding blues artists to demonstrate their talents across 24 venues, with audiences being able to pick from almost 70 gigs across the last weekend of June.

The Belfast Blues Festival 2022 is dedicated to the late Rab McCullough, Belfast blues legend, in addition to paying tribute to two of the festival’s major contributors over the years,  Gregory “Murph The Blues Brother” McGeown and James “Jamesy” Carson. 

This year, the Blues Festival is also supporting The People’s Kitchen, a Belfast-based charity which runs a food bank, delivers food to people in need all over the city, and supplies clothes and advice to families in need and those who are homeless.

Here are the 29 artists performing over the weekend:

1. The Rev Doc & The Flying Squad

Friday 24th June – Kelly’s Cellars

3.30pm – 6.30pm | Free Admission

2. Crow Black Chicken

Friday 24th June – Black Box

8pm | Admission £13

3. The Ronnie Greer Band

Friday 24th June – Granny Annies 

4pm – 6pm | Free Admission

4. Mike Wilgar & The Crack Pot Preachers

Friday 24th June – Ulster Sports Club

4.30pm – 7pm | Free Admission

5. Kick The Bucket Blues Band

Friday 24th June – The Dirty Onion

4.30pm – 6.30pm | Free Admission

Sunday 26th June – Ulster Sports Club 

3.30pm – 6pm

6. Frank Carberry Blues Set 

Friday 24th June – 2 Taps Restaurant

4.00pm – 6.30pm | Table Bookings Essential

Saturday 25th June – St George’s Market

11.00am – 2.30pm | Free Admission

7. Speedy Mullan Blues Band 

Friday 24th June – Whites Garden

4.00pm – 6.30pm | Free Admission

Saturday 25th – The John Hewitt

3.30pm – 6pm | Free Admission

8. The Robin BiBi Band

Friday 24th – The John Hewitt

9.30pm – Late | Free Admission

Saturday 25th June – The Dirty Onion

4pm – 6.30pm | Free Admission

Saturday 25th June – Common Market

9pm – 11pm | Free Admission

Sunday 26th June – Granny Annies

4pm – 6pm | Free Admission

End Of Festival Wrap Party with Special Guests – all profits to The People’s Kitchen

Sunday 26th June – The Deer’s Head

Doors 7pm | Admission £10

9. The Unholy Gospel Band

Friday 24th June – Common Market

6.30pm – 8.30pm | Free Admission

10. Otis & The Elevators

Friday 24th June – FLAXX…Social Village

6.30pm – 9pm | Free Admission

11. The Red Hot Roosters

Saturday 25th June – Kelly’s Cellars

3.30pm – 6pm | Free Admission

The Annual Rock n Roll Party

Sunday 26th – The John Hewitt 

3pm – 6pm | Free Admission

12. The Pat McManus Band

Remembering Rory

Saturday 25th June – Black Box

Doors 1pm | Admission £14

13. Sam Davidson’s Taste

Remembering Rory

Saturday 25th June – Black Box

Doors 1pm | Admission £14

14. The Willie Byrne Band

Remembering Rory

Saturday 25th June – Black Box

Doors 1pm | Admission £14

15. Symply Skynyrd

Saturday 25th June – Black Box

Doors 8.30pm | Admission £12

16. The Rev Doc Duo

Dedicated to Rab McCullough

Saturday 25th June – Ramada By Wyndham

9pm – Late | Free Admission

17. The Chris Taplin Blues Band

Saturday 25th June – Granny Annies

4pm – 6pm | Free Admission

Saturday 25th June – 39 Gordon Street

8pm – 10.30pm | Free Admission

Sunday 26th June – The Dirty Onion

4pm – 6.30pm | Free Admission

18. Tony Villiers & The Villains

Saturday 25th June – The Deer’s Head

Doors 2pm | Admission £10

19. Backbone Blues Band

Saturday 25th June – Ulster Sports Club

4pm – 6.30pm

20. Davy Watson Solo

Saturday 25th June – 2 Taps Restaurant

4pm – 6.30pm | Table Bookings Essential

21. Ian Sands & The Blues Katz

Saturday 25th June – Whites Garden

3.30pm – 6pm | Free Admission

Sunday 26th June – 39 Gordon Street

4pm – 6.30pm | Free Admission

22. The Ronnie Greer Band Featuring Anthony Toner

Saturday 25th June – FLAXX…Social Village

4.30pm – 7pm | Free Admission

23. The Sabrejets

Sunday 26th June – Kelly’s Cellars

3.30pm – 6pm | Free Admission

24. LIGHT

Belfast’s Finest – An Afternoon With The Amazing LIGHT

Sunday 26th June – Black Box

Doors 1pm | Admission £10

25. Dom Martin & His Band

Sunday 26th June – The Deer’s Head

Doors 2pm | Admission £12

26. Brian Mc Kenna’s Swing Tribute

Sunday 26th June – St George’s Market

11.00am – 2.30pm | Free Admission

27. Terry Sharpe & Co

Sunday 26th June – 2 Taps Restaurant 

4.00pm – 6.30pm | Table Booking Essential

28. Taylor Sisk & Co

Soul R&B Review

Sunday 26th June – Whites Garden

3.30pm – 6pm | Free Admission

29. The Lee Hedley Band

Sunday 26th June – Common Market

1.30pm – 3.30pm | Free Admission


For more information, festival listings and tickets log onto belfastcitybluesfest.com or connect with the Belfast City Blues Festival official Facebook page.

‘GIRL GOT GAME’THE OFFICIAL SONG OF THE NORTHERN IRELAND EURO 2022 WOMEN’S TEAM ANNOUNCED

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UEFA Women’s Euro 2022


Listen here: https://open.spotify.com/album/5RQr3WS8mbur8s3sNBIxJ7

Belfast based artist Jessica Hammond has come together with the Irish Football Association, the governing body for football in Northern Ireland, to record and release the official song of the Northern Ireland senior women’s team ahead of the UEFA Women’s Euro 2022 finals in July.

The feel-good, infectious two-minute pop track focuses on the message of female empowerment within the sport and features plenty of the Green and White Army sing along lyrics for good measure. 

From Belfast, Jessica started her music career at 14 on Disney’s ‘My Camp Rock’ performing alongside Demi Lovato and has worked with some of the best producers and Grammy award-winning writers including Amy Wadge (Thinking Out Loud/Ed Sheeran) and Ollie Jacobs (The Saturdays).

A highly skilled producer in her own right, Jessica self-produces all of her own releases alongside her long-time collaborator and co-producer Matty Graham from their base at Black Studios in Belfast.

 Jessica’s continuing recent rise builds on a hugely successful 18 months releasing several singles and collaborations gaining Top 10 Shazam chart positions in Ireland along with significant editorial support across numerous streaming services and tastemaker outlets worldwide. Her growing Spotify audience of 225k monthly listeners and over 3M streams with releases on Irish based label Paragon Records & European dance labels Chill Your Mind + Loudkult shows no sign of slow-down.

 Jessica recently released the single ‘Hold You’ alongside well-known Belfast Dj / Producer Hix.

Jessica commented; “ ‘Girl Got Game’ is a female empowerment song. I wanted to write a song where the vibe was uplifting and motivating, I wanted to write lyrics using football terminology like “always ready to attack” and “don’t take your eye off the ball” while also keeping it vague enough to be relatable outside of the game, and be a feel-good song for all women, even outside of the sport.”

Angela Platt, Director of Women’s Football for the Irish FA, said: “This summer will see levels of interest and excitement in our women and girls’ game at an all-time high. Our team has made history by qualifying for the Euros and I’m delighted to have Jessica’s soundtrack backing our team every step of the way.” 

The song is released through Paragon

Records. Facebook:          https://www.facebook.com/JessicaHammondMusic   

Instagram:         https://www.instagram.com/jessicahammondx
Twitter:               https://twitter.com/Jessicamusicx  

Youtube:            https://www.youtube.com/jessicahammondx

We Kid You Not! Jet2holidays has a Free Child Place On Every Single Flight Until End of August!

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Jet2holidays

Jet2holidays, the UK’s leading tour operator to many destinations across Europe, the Mediterranean and Canary Islands is helping holidaymakers and families get a ‘hol’ lot more sun, thanks to a huge campaign which has seen a Free Child Place added onto every single flight departing from the UK in June, July and August 2022.

The new campaign means there are tens of thousands of extra Free Child Places up for grabs from across ten UK bases this summer, giving holidaymakers a summer to really look forward to.

The offer is open to Jet2holidays bookings returning on or before 31st August 2022. Bookings must have at least two passengers paying the full adult price. Customers need to be quick as when they’re gone, they’re gone!

Despite international travel making headlines recently, Jet2.com and Jet2holidays have not cancelled any flights due to staff shortages and have continued to receive positive feedback from customers and independent travel agents.

Jet2.com and Jet2holidays took action to recruit well ahead of the bounce back and as such have thousands of dedicated colleagues, including a very visible uniformed presence (referred to as the Red Team) in UK airports as well as in main overseas airports and in resorts. This team have been working tirelessly to make sure customers get to enjoy their well-deserved holidays.

The campaign launching today has been designed to further boost the holiday plans of thousands of UK holidaymakers this summer, after the last two years were impacted by the pandemic.

As well as securing a Free Child Place by visiting www.jet2holidays.com/free-child-place-finder, families booking with Jet2holidays also get to enjoy the award-winning customer service which just last month saw the company win Which? Travel Brand of the Year.

That VIP customer service comes alongside in-resort Customer Helpers, transfers, and ATOL protection, as well as a choice of thousands of 2-5 star hotels and villas.

Steve Heapy, CEO of Jet2.com and Jet2holidays said: “We are all about getting people away on their well-deserved holidays this summer and there is no better feeling than heading to the sunshine knowing you have grabbed a Free Child Place too. This is our biggest ever giveaway of Free Child Places and although there are thousands of places available, we know that they will be enormously popular with families and family groups looking to get away so people will need to act quick to secure one. With more seats on sale than ever this summer, we are already looking ahead to a busy and successful summer, and this campaign will only help us deliver that.”

For terms and conditions, please visit: https://www.jet2holidays.com/promotions#FCP

For further information and to book visit www.jet2.com or www.jet2holidays.com   

Lord Mayor joins in as over twenty different languages and cultures celebrated in mini-festival of events at Stranmillis Primary School

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Stranmillis Primary School

A jam-packed day of events and music has taken place at Stranmillis Primary School, to celebrate the wide diversity of the school. Even the Lord Mayor, Councillor Tina Black Lord Mayor joined in, as twenty three different languages and cultures were celebrated in a mini-festival last weekend on Saturday 18th June 2022.

Stranmillis Primary School is a unique school community, drawing children from home backgrounds that are rich and diverse in their cultural, ethnic, social and religious origins.  This ranges from Cantonese, Arabic, Russian, Hindi to Polish, Serbian, French, Greek, Urdu, Czech and Italian. The school organised an impressive range of activities to celebrate this including African drumming, Salsa dancing, Russian art, Tai Chi, Diversity storytelling, Sign language, henna tattoos and Arabic calligraphy.

Principal Linda Wilson said:

“Culture Day at Stranmillis Primary day is the most important day of the year for us. The rich diversity of our children and their families adds enormously to our school and helps provide our children with a stimulating and challenging environment in which to develop and flourish. We are delighted to be able to celebrate each and every child and their families in this very uplifting, joyous way.”

Lord Mayor Councillor Tina Black added,

“I was delighted to be there. I can’t believe there are 23 different cultural backgrounds in one school, and all feeling like one big community. The atmosphere on the day was superb.”

Will Jonny Evans go down as Northern Ireland’s greatest defender of all-time?

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Jonny Evans

For one reason or another, Jonny Evans doesn’t seem to get the praise that his glittering career is deserving of. Perhaps it has something to do with Evans’ decision to avoid the limelight and lead a quieter life off the pitch than some of the Premier League’s glitzier stars.

There may also be an argument to be made about Evans being considered a bit-part player who came through the Manchester United ranks alongside players like John O’Shea and Darron Gibson. When looking back on his formative years at Old Trafford, it’s easy to assume that Evans was more of the consummate professional who chipped in rather than ever stood out. 

Whilst the undeniable truth is that Evans has made a career out of being a reliable teammate, the Belfast-born defender has also won every major club trophy there is to win over the course of a 16-year career that, incredibly, is still going strong.

Indeed, Evans will help Leicester City challenge for a top-four finish in the 2022/2023 season which is an eventuality priced at 13/1 in the latest football odds. This will, in all likelihood, be the Northern Irishman’s swansong at the King Power Stadium as his contract comes to an end in the summer of 2023, with Evans turning 35 only a few months prior to that. 

It may not be the end of the road for the player in the professional game, but if it is, then he would have staked his claim as the greatest defender in Northern Ireland’s history. Astonishingly, Evans has accumulated three Premier League titles, one Champions League trophy, an FA Cup, and two League Cups. On top of this, Evans was also part of the Manchester United team that became the first British side to win the FIFA Club World Cup in 2008.

The records are varied and impressive when it comes to the 34-year-old’s feats in the game and this haul of trophies, statistically speaking at least, makes him the most decorated player, never mind defender, in Northern Ireland’s history. 

The only accolade missing in the race to be crowned the Northern Irish player to have won the most is the Ballon d’Or that George Best was able to walk away with in 1968. But still, Evans managed to win one more Premier League title and a League Cup, which Best retired without having ever done. Despite this, however, very few would put Evans above Best in terms of ability, and rightly so. But as a central defender, the 34-year-old was as skilled as any centre-back to have played in England’s top flight. 

Indeed, Evans’ game has been built on expert timing when tackling as well as a composed temperament when the opposition is in the ascendancy.

Of late, this assured approach has been vital in helping a young Leicester side win the FA Cup in 2021 after beating a star-studded Chelsea team who weren’t able to score on an unforgettable day at Wembley for the Foxes.

This was, of course, just one of many triumphant moments for Evans in a career that was full of them, and in reality, there can be very little debate about it, the Belfast-born centre-back is the greatest defender in Northern Ireland’s history.

Comedy kings Grimes and McKee are back with a brand new comedy

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St Mungo’s - The Ladies

Local craic merchants Grimes and McKee present St Mungo’s – The Ladies, part of this summer’s Féile an Phobail, which will premiere at the Lyric Theatre Belfast Tue 9 – Sun 21 August 2022.  

Following the stage shows, St Mungo’s Luganulk, and St Mungo’s Luganulk 2: The Umpire Strikes Back, which have toured clubs and theatres throughout Ireland and was recently filmed for BBC One NI, the duo have created the final part of the St Mungo’s trilogy. St Mungo’s – The Ladies will guest star Caroline Curran (Maggie’s Feg Run) and will be directed by Ciaran Nolan (‘Em Two Balloons).

Ladies Gaelic Football is the fastest growing sport in the country and now it has come to little Luganulk.

The GAA football club are content with their mid-table second division survivors’ status when Dearbhla McDermott asks St Mungo’s if she can set up a ladies team. The chairman can’t really say no; she’s his god-daughter after all. So long as it doesn’t affect the men’s team, of course. 

And so unfolds an inevitable war of training pitch availability disputes, mini-bus bust-ups and summits about the state of the toilets.  And many, many cups of tea. But the biggest problem is: The women are beginning to get better than the men. Seems that the ladies are not here just to take part; they’re here to take over. 

And the novelty act for the big Scór competition is a total balls up.

Something’s got to crack.

This hilarious look at the rise of female sport has a rocking soundtrack and a rollicking laugh every 12.5 seconds. It’s the nailed-on show to see this summer in Belfast.

St Mungo’s The Ladies will be playing at the Lyric Theatre Belfast from 9-21 August 2022, as part of Féile an Phobail.

Tickets available at www.lyrictheatre.co.uk or on 02890 381081.

What was behind the surge in CFD trading last year?

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close up photo of monitor
Photo by energepic.com on Pexels.com

CFDs, also known as contracts for difference, have seen an incredible rise in popularity over the recent years, becoming one of the most popular leveraged financial instruments available to traders. With CFDs, you can speculate on the rise or fall of asset prices, making profit on accurate predictions without actually owning any assets.

The basics of leverage in trading

CFDs make use of a trading mechanism called leverage. Leverage is used by traders to increase their exposure to the market, giving them the ability to trade without paying the full value of their position upfront. Traders only have to pay a percentage of the full value, called the margin.

If, for example, a trader was to buy £10,000 worth of assets at a 5% margin using CFDs, they would only have to pay £500 upfront, while still being able to benefit from profits calculated based on the full value. This highly increases profit potential, but also comes at a higher risk – the loss potential is bigger than in traditional trading, requiring traders to implement a proper risk management strategy. Leverage is a very popular trading mechanism in forex trading because of the market’s very high liquidity, which makes it easy to open and close large positions at will.

How do CFDs work?

Contracts for difference are a tax-efficient method of making profits on financial market speculations. They can be used for a wide variety of assets, including forex, stocks, indices, commodities, and more. These contracts, which usually are only short-term, establish an agreement between a trader and a spread betting company – at the end, both parties exchange the difference between the opening and closing positions of traded assets.

CFDs are financial derivative products that use leverage and can be also used for short selling in case you speculate prices will go down. In the United Kingdom, CFDs can be used for trading without having to pay stamp duty, as no assets exchange hands within the contract. Many traders use CFDs for hedging, reducing the risk of loss on their other positions.

What are the risks of CFDs?

While there are great many benefits to trading CFDs, there’s always the potential to lose your entire capital – and more. With traditional trading, you can only lose 100% of what you’ve paid. With CFDs and leveraged trading in general, losses can be magnified by a much larger margin. Losses can exceed the deposits – be careful when trading CFDs and always incorporate a risk management strategy to avoid overwhelming losses.

Market volatility: the reason behind CFDs’ surge

Over 2020, many global markets became unprecedentedly unstable, featuring never before seen price fluctuations. While this made traditional trading riskier and less profitable, it allowed CFD trading to boom, giving traders a tool to make a profit in a market in turmoil. Because of the margin used in CFDs, profit can be made on prices heading down, allowing traders to operate even in bear markets.

Over 550,000 traders used CFDs every month in 2020 – an increase of more than 30% over the previous year. With very low capital requirements and no direct fees for opening positions, CFDs are bringing in more and more traders each year. The emergence of so-called “meme stocks” popularized short-term trading, as platforms like Reddit and Twitter spread news about the latest market opportunities.

Online platforms make it easier to start trading at home, offering a user-friendly interface and plenty of educational materials for newcomers. This simplification of the process attracted many new traders to try contracts for difference, some of which suffered losses because of a lack of strategy. CFDs are regulated and is considered an advanced financial instrument that require patience and excellent research to make a profit on.

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail client accounts lose money when spread betting and/or trading CFDs. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.

NI CHAMBER PRESIDENT CALLS FOR AN EXECUTIVE THAT “FOCUSES ON WHAT THEY CAN AGREE ON, RATHER THAN ON WHAT DIVIDES THEM”

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The President of Northern Ireland Chamber of Commerce and Industry (NI Chamber) has called for the return of an NI Executive – with politicians “focusing on what they can agree on – rather than on what divides them.”

Addressing almost 500 guests from business and politics at the NI Chamber Annual President’s Lunch at Belfast City Hall today (24 June 2022), NI Chamber President Gillian McAuley, who is also Group HR Director at Devenish Nutrition, said:

“Businesses are at the heart of social progress, innovation, decarbonisation and supporting thriving nations. When we talk to our members and the various political representatives, there is a great deal of commonality in terms of the issues that need to be addressed. It is therefore vital we have an Executive up and running, focusing on what they can agree on, rather than on what divides them – and businesses will respond.

“Right now, almost two months after the Assembly election, we should be in the optimistic early days of a new administration, discussing a Programme for Government; a multi-year budget that prioritises the economy whilst transforming health and education, and reaching an agreement on the NI Protocol – ironing out its problems and maximising its potential. Instead politics here is once again in abeyance. It is extremely frustrating and to the detriment of all the people who live here.”

Outlining the priorities for her term as President, she continued: “NI Chamber and our members have identified three pillars for growth on which an NI Executive and businesses could collaborate with immediate effect in order to build a better future for the region. These are: unlocking Northern Ireland’s potential in the UK, Europe and around the world to deliver international and regional growth; skilling up for a green, digital and inclusive economy and securing a clean and green future for Northern Ireland.”

Attendees at the Annual Lunch also heard from award-winning actor, director and writer, Adrian Dunbar during a Q&A session hosted by the BBC’s Tara Mills.

The NI Chamber Annual President’s lunch was sponsored by Communications Partner BT, along with supporting sponsors Cleaver Fulton Rankin, Fujitsu, GMcG Chartered Accountants and Dell Technology.

Speaking at the event, Paul Murnaghan, Director for BT’s Enterprise business in Northern Ireland, said:

“As we look to the future, BT remains as committed to supporting local businesses and the public sector. Our ongoing digital skills programme and our new digital marketing tools continue to help businesses here to get better positioned for recovery and growth following the pandemic.

“As one of Northern Ireland’s largest investors and employers, we will continue to play a pivotal role in the economic support and recovery of our economy here. We’re investing locally in people, innovation and our networks and our multi-million-pound refurbishment of Riverside Tower will be complete at the end of this year. I’m also pleased to say that we’re continuing to develop and deliver 5G led innovations with our partners and customers.”

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