Business news
- Banks must curb 'undue' bonuses - Trichet15:36Banks should step up their lending to support economic growth while taking steps to curb "undue" bonuses, European Central Bank head Jean-Claude Trichet said today.
- Two AIB managers investigated14:31AIB is conducting an investigation into the involvement of two senior managers in property businesses.
- ECB to tighten bank rating requirements14:24The European Central Bank will tighten its rating requirements for banks using asset-backed securities (ABS) as security in its lending operations, it said today.
- 21,000 lose jobs in industrial sector12:43More than 21,000 people working in the industrial sector lost their jobs in the 12 months to June of this year, according to the official data.
- Goldman urged to be less 'greedy'11:56Big shareholders at Goldman Sachs have asked the US bank, on track to deliver $20 billion in bonuses, to pass more profit to investors after it quadrupled quarterly net profit, theWall Street Journal reported.
- Oil prices steady below $7809:15Oil prices steadied below $78 a barrel today, looking for fresh direction after a strong US dollar and weak
stock markets triggered a 2 per cent overnight fall. - Ebay completes sale of Skype08:16Ebay said last night it had completed its sale of its Skype unit, as it had vowed to do before the end of the year.
- Dell profits dive on weak sales07:57Computer maker Dell's quarterly profit plunged 54 per cent on lower-than-expected sales as it lost market share to competitors engaged in a price war in the PC market.
- EBS to get capital by early 201007:51EBS Building Society, the State's biggest customer-owned lender, will probably get government capital by early next year to cushion losses on impaired loans to developers, chief executive Fergus Murphy said.
- Nationwide profits slump 62%07:41Nationwide Building Society, the UK's biggest customer-owned lender, said first-half profit fell 62 per cent because of increased provisions for impairments and lower margins caused by record low interest rates.
- Japan keeps rates near zero07:33The Bank of Japan kept interest rates near zero and raised its economic assessment even as government pressure for it to fight deflation intensified.
The Irish Times
- Anglo hires KPMG to cost options including wind-upSTATE-OWNED Anglo Irish Bank has hired consultants from the international headquarters of accountancy firm KPMG in Holland to cost various options facing the bank, including the winding down of the lender over time.
- Esot may have to buy €10.3m shares as part of STT dealTHE EIRCOM employee group Esot, which owns 35 per cent of the company, could have to pay up to €10.3 million to buy additional shares in the business as a condition of the sale of the company to Singapore Technologies Telemedia (STT).
- Shares' value may be wiped out, warns PayzoneIRISH LISTED e-payments group Payzone warned yesterday that shareholders could have the value of their holdings wiped out as part of a planned financial restructuring with its lenders.
- Senior AIB manager was a director of several property companiesA senior executive, based at AIB headquarters in Dublin, is a director or former director of a number of companies in the property sector, including one in which he worked alongside a senior AIB manager from Galway
- Exploring new world of opportunityTHE FRIDAY INTERVIEW - Ray Nolan, technology entrepreneur: AT $340 MILLION (about €230 million), Ray Nolan’s baby last week became the single-largest company exit of the past decade in Ireland, surpassing E-Tel, Iona Technologies, StockByte and Sterile Technologies.
- Notions of 'fairness' should not dictate fiscal policyECONOMICS: What may appear eminently fair to one group may seem profoundly unfair to another
- Manager sees no conflict in dealingsA SENIOR AIB manager in Galway has said there is no conflict involved in his being personally active with property companies.
- Planet BusinessA look back at the week in business.
- Insurance group FBD takes 3.3% stake in INMINSURANCE GROUP FBD has taken a 3.3 per cent stake in Independent News Media (INM) as part of the debt for equity swap agreed in the restructuring of the media group’s borrowings.
- Kerry expects to raise 2009 earnings to higher forecastKERRY GROUP is expecting to increase its earnings for the full year to the higher end of forecasts as business volumes showed a modest improvement.
- Ryanair to seek review of decision on chargesRYANAIR IS planning to seek a judicial review of Minister for Transport Noel Dempsey’s direction last month to the aviation regulator on airport passenger charges at Dublin Airport.
- Datalex third quarter revenues fall 19%CONTINUED DIFFICULT conditions in the travel industry caused revenue at travel software firm Datalex to fall 19 per cent in the third quarter.
- Department notified over AIB chief's payALLIED IRISH Banks (AIB) notified the Department of Finance informally late last week about the bank’s intentions on the proposed salary for the new managing director, Colm Doherty.
- Greencore announces €20m deal to sell loss-making bottled water divisionGREENCORE HAS announced that it is to sell its loss-making bottled water division to British water company Highland Spring in a deal worth almost €20 million (£17.5 million).
- Aer Lingus planning to outsource jobs, staff groups claimGROUPS REPRESENTING Aer Lingus staff have accused the company of planning to outsource jobs, a claim that Aer Lingus denies, insisting that two joint ventures in the UK and US do not represent an outsourcing of jobs.
- More action needed for recovery, says OECDFURTHER FISCAL measures will be needed to aid Irish economic recovery, including cuts in public expenditure and further increases in revenue, as public indebtedness increases sharply, the Organisation for Economic Co-operation and Development (OECD) said yesterday.
- Dutch group cuts value of Irish property by €21mDUTCH BUILDING and civil engineering giant, Royal BAM, took a €21 million hit on the value of its Irish properties so far this year.
- Tote Ireland has 2008 losses of €800,000A FALL in turnover, tightened margins and increased costs left State-owned horseracing pool betting operator, Tote Ireland, with an €800,000 loss last year.
- Blow to UK recession hopes as loan levels prove far higher than expectedBRITISH PRIME minister Gordon Brown’s hopes of an end to recession in the UK have received a major blow with news that government borrowing in October was billions higher than had been expected.
- Financing limited until Nama starts - REOLISTED PROPERTY developer Real Estate Opportunities (REO) said yesterday that bank finance in the Republic will continue to be limited until the State’s rescue agency, Nama, begins its work.
- 'Threat to jobs' if case delayed US unemployment figures stabilise EU clears Avaya's Nortel purchaseUS telecom equipment maker Avaya has received EU regulatory clearance for its planned buy of assets owned by bankrupt Canadian peer Nortel Networks. Avaya is buying Nortel’s enterprise business, which builds networks and voicemail systems for companies and government agencies, for about $900 million.
- Lull continues on another quiet day for tradersDUBLIN REPORT: Iseq: 2,867.83 (-38.53) Settlement date: November 24th
- It's time to revisit the debt penaltyUrgent reform is needed to drag our Victorian personal debt system into the 21st century, writes Caroline Madden
- Further asset bubbles appear inevitableSERIOUS MONEY: Federal Reserve bailouts have contributed to an unhealthy disrespect for risk, writes CHARLIE FELL
- Extending bank guaranteeQ&A: Q IN REPLY to a number of letters recently, you have said that the extension of the bank guarantee to 2013 is in the National Asset Management Agency (Nama) legislation. Now that this legislation has passed all stages, can you confirm that it is still included?
- Payments firm founder named 'Internet Hero'INTERNET ENTREPRENEUR Colm Lyon, who founded online payment service Realex Payments, was named last night as 2009 Internet Hero at the Eircom Golden Spiders Awards.
- Get known online or fail, firms toldENSURING YOUR company is engaged with the latest developments in digital and social media may ensure it survives the downturn, a conference in Dublin heard during the week.
- Technology 'could save HSE millions'THE HSE could save €79 million a year by introducing electronic patient records and €195 million a year by treating chronic illness in the home, according to a report prepared by a coalition of 17 telecoms and technology firms.
- Tech ShortsA roundup of today's other technology news in brief
- Microsoft risks losing its grip in smartphone revolutionWhat matters is that there’s a fight in the industry, and a new phase of clever development
- 14 out of 17 projects have commercial backingTHE NATIONAL Digital Research Centre invested €12 million to support 17 research projects over the past year, the organisation’s first annual report reveals.
- Tech venture capitalist riding highTim Draper is famous for spotting the potential of Hotmail and Skype, and his company now manages more than $6 billion in funds, writes Karlin Lillington
- Cybersecurity threat is stalking the globeMelissa Hathaway says the US must do more to avoid a creeping technological menace and urges Ireland to take on a dedicated adviser, writes Gordon Smith
- Is that text message really worth a life?NET RESULTS: Using a mobile while driving can impair judgment even more than driving over limit. So why do we do it? asks KARLIN LILLINGTON
- Twitter: the talk of the townThere is much debate over the personal and commercial possibilities of the microblogging phenomenon, writes Richard Gillis
- Salesforce insists it is a force to be reckoned withFirm squares up to heavyweights Microsoft and SAP, writes Ian Campbell in San Francisco
- Tech ToolsThis week's gadgets
- 14 out of 17 projects have commercial backing €12m invested in digital research
- Web LogThis week's web roundup
- A whole new ball game for sports catalogue firmUNDER THE RADAR - Philip McLaughlin, McSport: IF THE free market is a form of natural selection for the commercial world and the secret of survival is the ability to adapt to change, Philip McLaughlin is managing to stay well ahead of the evolutionary curve.
- O'Leary not impressed by ex-highflier's appointmentNOEL DEMPSEY’S ears must have been burning yesterday as Ryanair boss Michael O’Leary gave the Department of Transport a lashing at a press conference in relation to passenger charges at Dublin Airport.
- Toying with the idea of financing a family businessWHILE MOST Irish viewers were glued to RTÉ watching Thierry Henry’s handball rob us of a place in next year’s World Cup finals, British satellite channel More 4 was showing Gerry’s Big Decision , a reality TV show featuring troubled Donegal department store group Foy Company.
- Eircom's Esot windfall ongoingWHILE THE rest of the economy stutters along, the tax-free Esot gravy train for current and former workers at Eircom continues on its merry way.
- Little ThingsREVENUES AND profits at Appleby Westward, the British food distributor owned by the Irish wholesale cash and carry group BWG, led by Leo Crawford (right), fell last year, according to accounts just filed.
Dublin Today »
| Company | Latest Price € | % Change |
|---|---|---|
| AGI THERAPEUTICS PLC - IEX | 0.09 | 12.50 |
| BLACKROCK INTERNATIONAL LAND PLC - IEX | 0.07 | 7.69 |
| PETROCELTIC INTERNATIONAL PLC - IEX | 0.18 | 2.86 |
| PROVIDENCE RESOURCES PLC - IEX | 0.043 | -6.52 |
| ZAMANO PLC - IEX | 0.2 | -9.09 |
| SITESERV PLC - IEX | 0.08 | -11.11 |
Latest
- 21:30Six dead in Colombia bus attack
- 21:19ISPCC calls for constitutional reform
- 21:17Uefa shocked by huge match-fixing ring
- 20:42Major disruption caused by widespread flooding
- 20:28Irish pleas for a replay rejected again
- 19:27HSE issues strike contingency plans
- 19:05Bank guarantee scheme extended
- 18:21Points may be withheld during strike
ADVERTISEMENT
