City & Business: Sinking feeling

Shipbuilding and foreign exchange dealing are industries worlds apart. But both are ultimately dependent on trade. Booming international trade has dramatically boosted demand for both. Britain has been phenomenally successful at foreign exchange dealing, capturing large chunks of market share from both Wall Street and Tokyo, as we report on page 1.

But before you unfurl your Union Jack, turn to page 7 for an analysis of our disquieting record in shipbuilding.

Our only two surviving large commercial shipyards are both owned by the Norwegians. And we now have the distinction of making fewer ships than either Romania or - wait for it - Croatia.