In Short

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

Supreme Court to hear Bupa case

A five-judge Supreme Court is to hear an application by Bupa for a stay on the introduction of risk equalisation in the health insurance market.

Bupa wants the stay pending the outcome of its appeal against the High Court's rejection of its challenge to the scheme.

Pending the outcome of the stay application, to be heard in this court term, an undertaking by the Minister for Health that the risk equalisation scheme will not come into effect will continue.

CPL chief sells €14m in shares

The chief executive of listed recruitment firm CPL has sold €14 million worth of stock in the company.

Anne Heraty sold two million shares at €7 each. She retains a 34.8 per cent stake in the firm, amounting to 12.9 million shares. CPL stock has nearly doubled in value in the past year.

Alder Capital wins hedge fund award

Alder Capital, the privately owned Dublin specialist currency fund manager, has earned its second international accolade as Europe's top currency hedge fund.

The award, from Global Investor magazine, was presented to Alder Capital director John Caslin at a ceremony in London.

Vodafone to offer YouTube service

Vodafone has announced a plan to offer YouTube content by mobile phone.

The companies have agreed a deal that will allow Vodafone to offer customers access to YouTube through the Vodafone Live service. It will be available initially in the UK before being rolled out to other markets.

€35m in deals at machinery show

Irish companies won export contracts worth €35 million at this week's agricultural machinery show, held at Punchestown racecourse.

Manufacturers won deals with buyers from Brazil and Argentina, as well Europe.

The industry exports about €200 million worth of goods a year and turns over €350 million.

Manufacturing output falls

Manufacturing output declined in the final three months of last year, according to data released by the Central Statistics Office.

Although up sharply in December, this was due to an exceptionally strong year-on-year increase in output from the chemical and pharmaceutical sector, causing output from the "modern" multinational sector to rise annually by 22.1 per cent that month.

Output from the traditional sector rose annually by just 0.6 per cent in December and neither increase was sufficient to offset sharp declines in November output.

For 2006 as a whole, average output was 4.8 per cent higher than 2005.

Siemens to build ESB power plant

ESB International and a joint venture partner, Scottish and Southern Energy, have hired German engineering firm Siemens to build their planned €500 million power plant in Southampton. The gas-fired plant will have a capacity of 840 megawatts and will be completed in 2009.

Income at Mazars Ireland rises 30%

Mazars Ireland increased its income by 30 per cent in 2005-2006, to €21 million, the business advisory firm said yesterday.

The international group published independently audited financial statements yesterday, but did not break down the Irish figures.