In Short

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

World Bank in China pollution report changes

Beijing engineered the removal of nearly a third of a World Bank report on pollution in China because of concerns that findings on premature deaths could provoke "social unrest".

The report, produced in co-operation with Chinese government ministries over several years, found about 750,000 people die prematurely in China each year, mainly from air pollution in large cities.

China's State Environment Protection Agency and health ministry asked the World Bank to cut the calculations of premature deaths from the report when a draft was finished last year, according to sources. - ( Financial Times service)

Eircom invests £5m in North

Eircom has announced plans to further develop its business presence in Northern Ireland and is to initially invest €£5 million in its network and service operations there.

Work on its core network around Northern Ireland started in 2006 and this will be completed later this year. Yesterday's announcement also included establishing a network operations centre in Belfast that will employ 15 people in high-value roles.

Profits down at Tipperary Co-op

Pre-tax profits at Tipperary Co-op fell by 6.5 per cent to €707,000 in 2006 in what the company described as a challenging year with a changing market and increased manufacturing costs.

However, sales for the year were up €10 million to €126.1 million, while cash inflow for the year was €2.7 million.

Cheese production rose by 19 per cent on the previous year.

Extra sales of €10 million arose from additional output from the co-op and from increased sales of cheese in France.

Island's gas well test off Kinsale

Island Oil & Gas said that it had "successfully tested dry gas at a rate in excess of 18 million standard cubic feet per day" from a well off the Old Head of Kinsale in the Celtic Sea.

However, the well is being suspended as a potential gas producer. The company said it will make a further announcement in due course regarding the next stage in the evaluation and potential development of the Old Head of Kinsale gas field.

Independent News & Media

Contrary to a report on Saturday, Independent News & Media has pointed out that it did not withdraw an incorrect stock market notification on shares held by Sir Anthony O'Reilly. The notice was withdrawn by solicitors Matheson Ormsby Prentice, who issued it in error.

UK banks warned on insider trading

Investment banks that do not put in place proper controls to stop price-sensitive information leaking into the market could in future face hefty fines, the UK Financial Services Authority has warned.

The caution, circulated to banks and investment houses in a newsletter yesterday, is evidence of the City watchdog's determination to crack down on widespread insider trading ahead of mergers and acquisitions. - (Financial Times service)

Waterford's €280m redevelopment

Work is set to begin in September on a €280 million development planned for Waterford city centre by KRM Construction Partnership after Waterford City Council confirmed it is to grant planning permission for the project.

Construction work will immediately create some 600 jobs with 1,300 to be created in the medium- to long-term on a 5.1 acre site that borders Michael Street, New Street, Stephen Street and Brown's Lane.