In short

A roundup of today's other stories in brief.

A roundup of today's other stories in brief.

Nortel links with Imagine on IP project

Telecoms equipment company Nortel has linked up with telecommunications firm Imagine to provide internet protocol (IP) telephony services to small businesses.

Under the all-island initiative, Nortel and Imagine will appoint 40 resellers in the telecommunications industry to distribute its voice over internet protocol (VoIP) platform.

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Nortel employs 300 people in Galway, while Imagine employs 180 people in Dublin and Newry.

Consumers facing price pressures

The next five months will test the resolve of Irish consumers, with further interest rate increases expected, and scheduled hikes in gas prices and health insurance premiums, according to analysts at Davy Stockbrokers.

Households are likely to run down their pots of savings by more than anticipated, meaning that there will be downside risk to consumer spending forecast of 6.5 per cent, Davy said in its weekly market comment yesterday.

Energy prices hit pharmachemicals

Jobs and future foreign direct investment are at risk as a result of high energy costs, according to Pharmachemical Ireland, the industry group for the pharmaceutical and chemicals industries.

"The proposed 34 per cent increase in gas and 20 per cent in electricity prices comes on the back of an approximately 80 per cent cumulative increase in recent years. It is becoming increasingly difficult for Irish managers to justify these massive cost hikes to global head offices," said Matt Moran, director of Pharmachemical Ireland.

Chambers calls for simpler law

Chambers Ireland is calling for a consolidated employment act, requiring the amalgamation of all current acts related to employment into a single piece of legislation, using the Tax Consolidation Act as a template, according to the business group.

There are 25 separate acts and eight different bodies regulating the area of employment.

EasyJet sees rise in passengers

British low-cost airline EasyJet has reported an 11.3 per cent rise in passenger traffic in July, saying yesterday that full-year revenues and costs would be slightly higher than expected.

Rivals Ryanair and British Airways both warned last week that they expected a tough winter period, with stiff competition likely to drive down ticket prices.

Students spend €6,300 on basics

Students spend almost €6,300 each academic year on accommodation, travel, groceries and socialising, according to a new survey conducted on behalf of Ulster Bank.

The survey of 630 students found that over half of students' incomes comes from their parents, with 30 per cent coming from part-time employment.

Students who rent accommodation spend an average of 42 per cent of their total income on rent.