In Short

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

US confidence at its highest in two years

US consumer confidence rose to its highest since March 2008, data showed yesterday, defying for now the growing fears about European debt market turmoil and threats to global growth.

Improving sentiment about the battered labour market was key to consumers recovering their nerve, as the Conference Board’s report said fewer of those surveyed found jobs “hard to get”. Consumers account for more than two-thirds of US economic growth.

Consumer confidence rose for the third straight month in May, to 63.3, the best level since March 2008, from a downwardly revised 57.7 in April. – (Reuters)

4,151 days lost to industrial disputes in first quarter of year

More than 4,000 days were lost to industrial disputes in the first quarter of the year, new figures from the Central Statistics Office show.

Some 4,151 days were lost in the first three months of the year, compared to 11,327 for the same period last year.

The transportation and storage sector accounted for the majority of the disputes, at 1,905 or 46 per cent of the total.

During the period, there were seven disputes in progress involving 236 workers and seven firms. Only five actually began in the quarter.

M&S cautious about consumer outlook

Marks & Spencer says it is cautious about the outlook for consumers as it met forecasts yesterday with a 4.6 per cent rise in annual profit.

The group said it had made a satisfactory start to the first quarter of its new financial year.

“Consumers are naturally concerned about any impact of the budget on June 22nd,” it said, referring to plans by Britain’s new coalition government to announce steps to cut a record state deficit. “We therefore remain cautious about the outlook for the year ahead.”

It made profit before tax and one-off items of £632.5 million (€738 million) in the year to March 27th. – (Reuters)

Dómhnal Slattery's Avolon agrees to acquire six aircraft

Avolon, the Dublin-based aircraft leasing group set up recently by Clare businessman Dómhnal Slattery, has agreed to acquire six A320 aircraft from AerCap, a Dutch leasing company. Avolon has also formed a joint venture with AerCap to buy three A330-200 aircraft.

The list prices for the aircraft imply an order value of $775 million (€629 million) for the six A320s and a half-share in the three A330s, which were manufactured in 2009. Avolon completed an initial capital raising of $1.4 billion recently.

€38,092 judgment against Niall Mellon

Property developer and philanthropist Niall Mellon has had a judgment for €38,092 against him published in this week's edition of Stubbs Gazette.

The judgment is in favour of Scottish building firm John Dickie Construction Ltd, which trades as Rok Dickie Construction.

Mr Mellon did not return calls to the office of the Niall Mellon Township Trust seeking comment on the judgment.

In February, Mr Mellon had a judgment for £308,796 (€360,000) entered against him in favour of IG Markets in London high court.