Belfast Telegraph

February: UTV sells TV division

Biggest business stories of 2016

A £100m deal by UTV Media plc to sell its TV assets - UTV Ireland and UTV in Northern Ireland - to ITV completes. The remaining business of UTV Media plc is renamed as the radio-dominated Wireless Group.

IN one of 2016's most dominant themes in Northern Ireland business, aerospace giant Bombardier announces 1,080 job losses in Belfast over 2016 and 2017 - around one-fifth of its workforce here. The company points to tough global conditions and lower-than-expected orders for its CSeries passenger jet as the reasons for the decision, which is replicated at its sites across the globe.

HOMEGROWN insurance broker Abbey snaps up rival Open + Direct in a multimillion-pound deal.

THE owner of engineering firm Sheridan and Hood blames Stormont in-fighting over budgets for the collapse of his business. Brian Hood - whose father, Stewart, founded mechanical and electrical contractor Sheridan and Hood almost 50 years ago - says the failure of his firm was "like losing a child".

THEN Enterprise Minister Jonathan Bell announces a decision late on a Friday to shut down the Renewable Heat Incentive scheme after it runs out of money. The industry estimates that approximately 2,000 jobs are at risk in the renewables sector as a result of the decision. The chaos over the scheme erupted earlier this month when it was revealed that it could cost taxpayers some £400m or even more over the next 20 years.

BUSINESS chiefs, including Dale Farm boss David Dobbin, rally in support of the UK staying in the EU as David Cameron urges fellow MPs against the "leap in the dark" of Brexit.

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