In Short

A round-up of today's other stories in brief

Microsoft lawsuits target 'cybersquatters'

Microsoft will today launch a series of lawsuits in the US and Europe against "cybersquatters", and will urge other companies to tackle what it says is a growing problem on the internet.

Cybersquatting is the registration of a trademarked domain name - or one similar to it, such as "micrsoft.com" - with the intent to profit from it.

The practice is a nuisance for the growing number of companies that do business over the internet and are loath to lose valuable traffic to rogue websites. - ( Financial Times service )

Irish firm seals tidal farm deal

Irish energy technology company OpenHydro has signed an agreement with Alderney Renewable Energy to develop tidal farms in the Channel Islands.

As part of the deal, which the company said was worth several million euro, OpenHydro will supply Alderney with marine turbines for generating renewable energy from tidal currents.The turbines are expected to be deployed in 2008/2009. OpenHydro estimates it could generate three gigawatts of energy.

OECD predicts 'soft landing' for US

The US economy is slowing but not abruptly, Europe's economy continues to expand and Japan's growth is solid if imbalanced, the Organisation for Economic Co-operation and Development (OECD) said yesterday.

The OECD said all was going as expected for the world economy, with Europe picking up the slack and Asia holding up well as the US economy slowed to what it predicted would be a "soft landing". - ( Reuters )

Record quarter for Goldman Sachs

Goldman Sachs yesterday reported another record quarter and said it saw no sign that turmoil in the sub-prime mortgage market was spreading to prime mortgages or other areas of the capital markets.

It earned $3.2 billion (€2.4 billion) for the first quarter, or $6.67 per share, up 29 per cent from $2.48 billion, or $5.08 per share, last year.

The results trounced expectations of $4.97 per share. Revenue from outside the US hit 50 per cent, and growth in Europe and Asia again outpaced the US. - ( Financial Times service )

Amarin director buys 500,000 shares

AIM-listed drug development company Amarin announced yesterday that Dr Simon Kukes, a non-executive director, has bought 500,000 shares in the company.

This brings his total holding to just under eight million shares, which represents 8.81 per cent of its issued share capital.

Belfast conference for accountants

The Institute of Chartered Accountants will hold its annual conference in Belfast for the first time in May.

Keynote speakers at Securing Competitive Advantage will include police ombudsman Nuala O'Loan, economists Michael Smyth and John Fitzgerald, and IDA Ireland chief executive Seán Doran.

Oil prices rise by a dollar

Oil prices rose about a dollar yesterday after the International Energy Agency said the world would need extra Opec oil in the coming months. The producer group, meeting in Vienna tomorrow, is expected to leave existing supply restrictions in place.

US crude for April delivery was trading 89 cents higher at $59.80 a barrel while London Brent crude was $1.21 higher at $61.95 a barrel. - ( Reuters )