- Ibec boss is in his element
THE FRIDAY INTERVIEW: Danny McCoy, director general, Ibec - IMF analysis underlines flaws in its earlier estimatesECONOMICS: Last week's startling figures raise questions about the quality of previousexternalpolicy surveillance, writes
JIM O'LEARY
- Planet BusinessA roundup of the world's business news in brief
- Canadian bank system gets the balance rightOnce considered boring for its fiscal conservatism, Canada has emerged as a model of stability, writes
SIMON CARSWELL , Finance Correspondent, in Toronto
- 'Enforcement' is the key to keeping institutions in checkCANADIAN FINANCE minister Jim Flaherty says the enforcement of banking regulations is the sine qua non for the inherent strength of the country’s banking system.
- Something for everyone in Elan dealANALYSIS: Elan’s sale of rights to its Alzheimer’s drug programme will dramatically cut its debt, writes
DOMINIC COYLE .
- Former entrepreneur of the year applies for 'arranging debtor' statusIN THE COURTS: A Cork-based specialist kitchen and bathroom company grew fast but wasn’t profitable, writes
COLM KEENA .
- Bank secures €6m judgment against property developerACCBank has secured a summary judgment order for some €6.2 million against developer Thomas McFeely over non-repayment of a commercial development loan issued four years ago.
- Woman claims builders failed to fix 'serious defects'A WOMAN has claimed before the High Court she was unable to move into her new home in Co Dublin because the builders failed to correct “serious structural defects” in the property.
- Slump drives increase in court casesTHERE WERE 192 new cases admitted to the Commercial Court in the first five months of the year, compared to 243 in the whole of last year.
- Grafton turnover down €450mDIY GROUP and builders’ merchants Grafton has reported a €450 million drop in turnover in the first half of the year compared to the same period last year amid what the company said was “the most challenging trading conditions in decades”.
- Estate agents and surveyors criticise proposal to end upward rent reviewsTHE GOVERNMENT’S decision to proceed with legislation abolishing upwards-only rent reviews in commercial properties has come in for severe criticism from estate agents and the Society of Chartered Surveyors.
- Paddy Kelly opposes $5.7m Florida judgmentPROPERTY DEVELOPER Paddy Kelly and two other businessmen are resisting a bid to enforce here a $5.77 million (€4.13 million) judgment granted against them by a Florida court. They argue the judgment was secured on foot of a settlement which may breach US tax law.
- Decline in service sector at slowest rate in 14 monthsSERVICE SECTOR activity declined again in June, but the pace of contraction eased to its slowest pace in 14 months, according to data published yesterday.
- Unemployment rising fastest among those under 25YOUNG PEOPLE are facing the brunt of the economic downturn, it was claimed yesterday, as figures released by the Central Statistics Office (CSO) confirmed that unemployment among the under-25s is rising at above the national average.
- Rabobank reports €44.3m profitRABOBANK IRELAND, the IFSC-based firm owned by the Dutch bank, made a profit of €44.3 million in 2008 compared with a loss of €26.6 million the previous year after a better performance on the sale of financial assets.
- One51 scraps plan to buy waste firmDUBLIN-BASED investment group One51, which is headed by Philip Lynch, has abandoned its approach to acquire the publicly quoted UK hazardous waste business Augean.
- Airtricity to create 200 new jobs in IrelandSCOTTISH-OWNED electricity supplier Airtricity has announced the creation of 200 new jobs as it embarks on a drive to win new customers.
- Celebrating US independence and noting Irish hopesJIM McLAUGHLIN is on a business trip to Ireland, touting his wares as a consultant to the medical business.
- Irish clothing company weathers the downturnAFTER THE BOOM: WITH RETAIL sales around the globe severely hit by the economic downturn, times are tough for the clothing industry. One Irish company which is trying its to ride out the recession is Irish clothing company, Jack Murphy. The firm, which is based in Balbriggan, North Dublin, was founded 13 years ago by Gerard McAuley and Michael Murphy. Specialising in lifestyle and outdoor fashion, the company supplies shops and department stores in Europe and the US. It also has one outlet store in Balbriggan.
- Bank of Ireland agm sets tone for other banksDUBLIN REPORT Iseq: 2,693.34 (+27.65) Settlement date: July 8th
- Two Dublin daily freesheets to be merged under 'Metro Herald' titleThe Irish Times Ltd and Associated Newspapers, joint owners of
Metro Ireland , and Independent News and Media, owners of
Herald AM , have agreed to merge the two newspapers into a single new title,
Metro Herald , with each shareholder retaining one-third of the merged business.
- Smurfit's 600m loans extendedLenders to packaging firm Smurfit Kappa have agreed to extend their revolving credit facilities on loans totalling €600 million.
- American chamber calls for Yes voteTHE AMERICAN Chamber of Commerce in Ireland has called for a Yes vote in the forthcoming Lisbon referendum, arguing that approving the treaty will promote economic security.
- Lift restrictions to boost jobs - ÚdarásÚdarás na Gaeltachta has called on the Government to lift restrictions which are preventing the agency from offering State support to companies in Irish-speaking areas. Speaking on RTÉ radio this morning, the authority’s chief executive, Pádraig Ó hAoláin, said a directive issued by the Department of Finance restricting spending by State agencies earlier this year meant it could not proceed with projects which could lead to the creation of up to 250 jobs over the next two to three years.
- Zapa secures €2.5m in venture capitalZapa Technology, a new Irish company set up by former Alphyra chief executive John Nagle, has secured €2.5 million in venture capital.
- Companies Bill approved in DáilThe Companies (Amendment) Bill 2009 has been approved in the Dáil.
- Ryanair traffic up 13% in JuneRyanair said its June traffic had risen by 13 per cent year-on-year to 5.8 million, the largest number of passengers the airline has carried in a month.
Dublin Today »
| Company | Latest Price € | % Change |
|---|---|---|
| AGI THERAPEUTICS PLC - IEX | 0.11 | 15.79 |
| GLENCAR MINING Plc - IEX | 0.058 | 11.54 |
| PROVIDENCE RESOURCES PLC - IEX | 0.039 | 11.43 |
| READYMIX PLC | 0.2 | -4.76 |
| TOTAL PRODUCE PLC - IEX | 0.3 | -4.76 |
| PETRONEFT RESOURCES PLC - IEX | 0.16 | -11.11 |
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