A round-up of today's other stories in brief
Greenspan to be adviser to Gordon Brown
Newly retired US Federal Reserve chairman Alan Greenspan has agreed to to be honorary adviser to British finance minister Gordon Brown on global economic change, the UK Treasury said yesterday.
Dr Greenspan, who stepped down on Tuesday after nearly 19 years of running the US central bank, has long enjoyed a close professional relationship with Mr Brown.
"I am delighted that Dr Greenspan has agreed to be honorary adviser. His advice on issues relating to global economic change will be much appreciated," said Mr Brown.
Dr Greenspan in turn has lauded Mr Brown as being "without peer amongst the world's economic policymakers." - (Reuters)
Outlook for equity investors 'to ease'
The outlook for equity investors will moderate in 2006, but remain positive for companies exposed to the consumer sector.
Analysis by Hibernian Investment Managers (HIM) suggests that expected increases in interest rates will not harm the economy.
"Despite 2005 being the third consecutive year of double-digit returns, HIM envisage continuing growth in Irish and international equity markets, though at a slower pace than previously," said HIM economist Fiona Hayes.
VRT abolition may cost State €1.15bn
The Department of Finance has claimed that the proposal by the European Commission for the abolition of vehicle registration tax (VRT) would cost the State €1.15 billlion a year in lost revenue.
In a submission to the Oireachtas Committee on Finance, department officials also claimed that if VRT was abolished, it would have to be replaced with other motor taxes,which could see the average motor tax bill rise from €400 to €960 per annum.
The proposal by the commission provides for the abolition of VRT on a phased basis by 2016 and its replacement with an annual carbon tax based on the annual mileage of a vehicle to reduce greenhouse gas emissions.
Prize bond holders win €12.5m in 2005
Prize bond holders won 130,000 tax-free cash prizes worth a total of more than €12.5 million in 2005, according to figures released yesterday by the Prize Bond Company. This represents an increase of 12.6 per cent on the value of prizes awarded in 2004.
Holders can check if they have won any prizes by logging onto www.prizebonds.ie. A list of top winning numbers is also available from post offices.
Airline venture chooses Irish base
AerCap, one of the world's largest aircraft leasing companies, has set up a joint venture with LoadAir, a start-up aviation company from Kuwait for the purchase and marketing of its order of 70 new Airbus aircraft.
The joint venture, named AerVenture, will be based in Ireland. Legal firm McCann FitzGerald were advisers to AerCap.
Axel Springer fails in bid for TV firm
German publisher Axel Springer abandoned its €2.5 billion bid for ProSiebenSat1 on Wednesday as regulatory clearance for the deal became too daunting.
The decision ends Axel Springer's ambition to combine its publishing might with TV broadcasting and to create a rival to German media conglomerate Bertelsmann, which owns TV stations and publishes magazines and books. - (Reuters)
