- Pressure mounts on Eircom as debt advisers called inSUZANNE LYNCHHOLDERS OF Eircom’s senior debt have appointed restructuring experts Houlihan Lokey as advisers as they prepare to negotiate with the troubled telecommunications company about billions of euro of outstanding debt.
- Government may amend copyright law after rulingCAROLINE MADDENTHE OUTGOING Government is considering putting through amendments to Ireland’s copyright regime before it leaves office to ensure the State is compliant with European legislation.
- Irish trade surplus cut by 10% in DecemberCIARA O'BRIENIRELAND’S TRADE surplus narrowed in December as the value of imports rose 12 per cent on November.
- EU corporate tax rates should be limited to certain range, says MerkelIRELAND’S CORPORATE tax rate led to “misallocations” that helped cause the country’s banking crisis, German Chanc-ellor Angela Merkel said.
- Libyan turmoil set to hold oil price high into second quarterLIBYA’S ESCALATING violence represents the biggest threat to global oil supply since the invasion of Iraq eight years ago as political unrest sweeping the Middle East centres on an Opec (Organisation of Petroleum Exporting Countries) exporter.
- Sweden's SEB Life buys Irish Life International for €26mSUZANNE LYNCHIRISH LIFE International, a subsidiary of Irish Life & Permanent, has been sold to Swedish company SEB Life for €26 million.
Sectors »
- Financial ServicesAnalysts predict October rate riseThe European Central Bank will hold fire on raising interest rates until at least October, according to a poll of economists who sound increasingly at odds with markets, which expect a hike sooner.
- Construction & PropertyAnglo's NY hotel deal brochure 'did not disclose risks'MARY CAROLANTHE “CAVALIER” ethos and attitude displayed by Anglo Irish Bank in promoting and managing an investment fund for two hotels in New York “readily explains how Anglo single-handedly brought this country to the position it finds itself in”, the Commercial Court was told yesterday.
- Energy & ResourcesLibya unrest drives oil above $110Brent crude futures have climbed above $110 a barrel as turmoil in Libya fuelled fears that unrest could spread to other oil-producing nations and choke supplies.
- Health/PharmaElan announces research dealCIARA O'BRIENPharmaceutical group Elan has agreed a deal with global contract research organisation PPD.
- Media & MarketingABC figures show drop in sales for Irish newspapersCIARÁN HANCOCK Business Affairs CorrespondentNEWSPAPER SALES declined in the second half of 2010 for all Irish-owned daily and Sunday titles, according to the latest “Island of Ireland” survey published yesterday by the Audit Bureau of Circulations (ABC).
- ManufacturingKerry Group revenues up 10% to €5bn in yearSUZANNE LYNCH
KERRY GROUP surpassed market expectations yesterday with full-year results which showed a 10 per cent jump in revenues to €5 billion. Trading profit rose to €470 million, an 11.3 per cent increase on the previous year. - Retail & ServicesHotelier to buy franchise for pizza chainBARRY O'HALLORANHOTELIER MICHAEL Holland plans to buy the Four Star Pizza franchise in Ireland and Britain as part of a rescue plan for the chain, which has been under High Court protection from its creditors since November.
- Transport & TourismVisits to Ireland continue to declineCIARA O'BRIENThe number of visitors to Ireland fell in the last quarter of 2010, as the tourist industry experienced one of its "most difficult years on record".
- Other SectorsBill Gates being a sport, but JJB's future may lie in hands of angry landlordsFIONA WALSHLONDON BRIEFING: What was once Britain’s biggest seller of sports goods is losing several million pounds a week
Markets »
- ISEQ TodayKerry Group bucks falling trend gaining more than 3%
- LondonFootsie declines on fears increasing oil prices will curtail economic growth
- EuropeEuropean shares slip as Libya tensions increase
- United StatesWal-Mart earnings data weighs on Wall Street
- AsiaEquities across region plunge on rising oil prices
Dublin Today »
| Company | Latest Price € | % Change |
|---|---|---|
| PROVIDENCE RESOURCES PLC - ESM | 3.6 | 9.09 |
| PETROCELTIC INTERNATIONAL PLC - ESM | 0.14 | 7.69 |
| ARYZTA AG | 34 | 4.07 |
| BANK OF IRELAND | 0.332 | -3.77 |
| ELAN CORPORATION PLC | 4.65 | -4.42 |
| ALLIED IRISH BANKS PLC - ESM | 0.22 | -18.52 |
Libya pumps about 3.3 per cent of world output, so disruption to supply is likely to drive prices higher, and it also has the largest reserves in Africa. Photograph: Bloomberg
Blogs »
- Business podcast: February 17thJohn Collins | Current Account »John Collins talks interest rates with Conor Pope and the disability business case with Caroline...
- iPad 2?Ciara O'Brien | Minibyte »It’s the worst-kept secret in the world, but this invite from Apple that just landed in my inbox...
- Crackbird: The tweet-to-eat Temple Bar pop-up restaurant that’s all gone on the credit cardLaura Slattery | The Index »“This is on a credit card,” says Joe Macken, owner of Rathmines restaurant Jo’Burger, of his...
Retail Sales
Technology »
- Apple supplier may agree new compensationA Taiwan-based company that supplies displays to Apple may pay more money to workers in China poisoned by chemicals while making touch-screen panels.
- HP shares fall as forecasts cutHewlett-Packard Co trimmed its 2011 revenue projections on weak consumer PC demand and a lacklustre showing from its IT services arm, sending its shares plummeting more than 12 per cent.
- Norkom offer 'unconditional'BAE Systems today said its offer for financial software firm Norkom has become unconditional after it received acceptances representing about 84 per cent of Norkom's shares.
- US senate overturns FCC rulingThe US House of Representatives voted yesterday to overturn proposed rules that bar internet service providers from blocking legal content but give some discretion to ration access for bandwidth hogs.
- Google's Android steps out of Apple's shadowCIARA O'BRIEN at the Mobile World Congress in Barcelona
The growing popularity of smartphones was a dominant feature at the Mobile World Congress
Economic Indicators
Economy »
- Irish trade surplus narrowsThe trade surplus narrowed in December as the value of imports rose 12 per cent during the month.
- UK public finances improveBritain showed a bigger than expected seasonal surplus on its January public sector net borrowing measure, after unusually strong annual growth in income tax receipts, official data showed today.
- Moody's warns of Japan rating cutMoody's Investors Service today warned that it may cut Japan's sovereign rating if government policies fall short of a comprehensive tax reform needed to bring ballooning public debt under control.
- German growth fuels concern of interest rate riseRALPH ATKINS in ParisEURO ZONE output price inflation has seen the biggest jump in almost a decade as record manufacturing growth and soaring business confidence in Germany power an economic rebound across the region, according to surveys.
- CantillonInside the world of business
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The Irish Times Tech 50 »
The main movers this week in The Irish Times Tech 50, a ranking of Ireland's highest-potential technology companies, produced in association with YouNoodle For the full table click here.
