In Short

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

ACCBank records 5% rise in income

Rabobank subsidiary ACCBank recorded a 5 per cent increase in total income to €159.7 million during 2007, as its increased loan book generated additional interest.

Profit for the year before tax totalled €43 million. Total loans and advances to customers rose by €215 million to more than €6.75 billion during the year.

The bank's shift in focus to small and medium-sized businesses has paid off, with commercial loans, which represent almost two-thirds of total customer loans, increasing 10 per cent.

Subprime lenders' deadline closes

The deadline for subprime lenders to apply to the Irish Financial Services Regulatory Authority for permission to operate closed yesterday. Start Mortgages and GE Money said they had applied, while Nua Homeloans declined to comment.

BG seeks to buy Australian firm

BG Group suffered a near 6 per cent drop in its share price yesterday after the UK oil and gas exploration company made an unsolicited offer to buy Origin Energy of Australia, valuing it at A$12.9 billion (€7.8 billion).

Origin, which is Australia's second-biggest gas and electricity supplier, said it had not yet considered the proposal. - (Financial Times service)

€2.29m for Total Produce directors

Directors' remuneration at fruit distribution firm Total Produce rose to €2.29 million last year from €1.88 million in 2006, according to its latest annual report.

Chief executive Rory Byrne received €836,000 and Frank Gernon, finance director, received €684,000. Carl McCann, the company's chairman, received €636,000.

Inquiry on Ryanair- Shannon deal

The multimillion euro deal between Ryanair and the Shannon Airport Authority has been subject to an EU Commission investigation, it emerged yesterday.

In response to a Freedom of Information request, the Department of Transport has confirmed lengthy correspondence from the commission on the issue.

Siemens reports higher orders

Siemens, Europe's biggest engineering company, reported higher orders and restructuring charges that slightly beat expectations to send its shares higher yesterday despite a worse-than-expected 67 per cent dive in quarterly net profit. - (Reuters)

Profits fall 12% at Aventis

Sanofi-Aventis, France's largest drugmaker, said first-quarter profits fell 12 per cent, hurt by generic competition to the Ambien sleeping pill and the decline of the dollar. - (Reuters)