IRISH GUINNESS drinkers are once again proving good for the drink's parent group, Diageo, after sales of the iconic stout grew 2.3 per cent in its home market in the 12 months to the end of June.

THE CLAIM by Ryanair deputy chief executive Michael Cawley that the airline did not agree to increased charges at Cork Airport appears to be contradicted by Cork Airport Authority documents.

BABCOCK BROWN'S stewardship of Eircom is set to end in the coming months after the troubled Australian investment bank said it was reviewing its management arrangement with the listed satellite fund that has direct ownership of Eircom.

HOUSEBUILDER McINERNEY has cut more than 500 jobs in a bid to combat the construction downturn and to return the business to profit.

HOUSE BUILDING halved in the first six months of the year, indicating that around 60,000 jobs could be lost in residential construction this year.

THE FLOW of UK companies moving their tax bases to Ireland continues to gather pace as asset manager Henderson Group and engineering firm Charter Group are set to become the latest UK firms to make the move. Moreover, Brit Insurance has also indicated that it is considering a redomiciliation, while several other major UK corporates are reviewing their options.

EIRCOM GREW revenues by 4 per cent to €2.06 billion in the year to the end of June last which saw earnings up by 8 per cent to €698 million.

A THREEFOLD increase in sales of multiple sclerosis drug Tysabri helped Elan reduce losses significantly in the first half of the year.

HFC BANK has confirmed the closure of its operations based in the Republic, with the loss of 41 jobs.

SHAREHOLDERS IN Iona Technologies voted overwhelmingly in favour of the company’s acquisition by Progress Software at meetings convened in Dublin yesterday.

TURBULENT MARKET conditions saw the value of new business at insurance and investment firm Friends First decline by 57 per cent in the first half of 2008, leading to a knock-on decline of 15 per cent in new business volumes at its parent company Eureko.

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