Other finance stories in brief
Dell shares soar on strong profit figures
Dell posted a higher-than-expected quarterly profit today, driven by cost cuts and strong demand from consumers and foreign markets, and its shares jumped nearly 10 per cent.
The world's second-largest personal computer-maker, which employs more than 4,500 people in Ireland, pointed to the strong performance as evidence that a year-long turnaround led by founder Michael Dell, who returned to the chief executive post in January 2007, was yielding results.
Net income in the three months to May 2nd rose to $784 million (€504 million), or 38 US cents per share, from $759 million, or 33 cents per share, a year earlier. Revenue was $16 billion, up 9 per cent from a year earlier. - (Reuters)
Cash crisis spells end for Silverjet
Silverjet, a British carrier that sold business-class tickets to New York for one-third the price of British Airways, grounded planes yesterday after running out of cash, the industry's latest casualty as fuel costs spiral.
The airline, whose last flight left Dubai yesterday for the company's base at London Luton Airport, appointed administrators after failing to get $5 million in emergency funding from Middle Eastern investor Viceroy Holdings LLC, it said in a statement.
More than a dozen carriers have collapsed in the past six months after the price of oil jumped 41 per cent. - (Bloomberg)
Irish firms win Mexican contracts
A number of Irish firms have won contracts totalling €3.6 million in Mexico as part of an Enterprise Ireland-led trade mission to Latin America. The deals, involving firms including Galway firm Fintrax and Dublin-based OpenJaw Technologies, follow €5.5 million in Brazilian contracts earlier in the week.
Pre-tax losses narrow at Glencar
Gold explorer Glencar Mining narrowed its full-year pre-tax losses, notwithstanding the decline in the dollar over the period, the company reported yesterday.
The Dublin and London-listed company, posted a pre-tax loss of $578,177 for the year to December 31st, 2007, down from a pre-tax loss of $1.45 million reported a year ago. Administrative expenses rose to $755,888 for the period from $630,492 earlier.
Société Générale executive to quit
Jean-Pierre Mustier will quit his job as head of investment banking later this year, Société Générale said yesterday, just days after saying he had the full confidence of the bank's new chief executive.
Mr Mustier is to be replaced by Michel Péretié, chairman of Bear Stearns International, who used to work for SocGen's arch-rival BNP Paribas, France's biggest bank. - (Financial Times service)
Providence pays O'Reilly 560,000
Explorer Providence Resources paid chief executive, Tony O'Reilly jnr, €560,000 in salary, bonuses and shares last year, according to the company's annual report. In 2006, he received €485,000.
His colleague, finance director Stephen Carroll, received €151,000.
Mr O'Reilly's father, Independent News Media chief executive, Sir Anthony O'Reilly, owns 40 per cent of Providence.
Aminex begins testing in Tanzania
Aminex said yesterday that it had begun testing at its Kiliwani interest in Tanzania after the necessary equipment arrived from the Arabian Gulf. Results will be announced after results from full testing have been verified.
