In short

Today's other stories in brief

24-hour delay in payment of Army pension

Army pensioners did not receive their pensions on time this month, as a human error at the Department of Defence meant the pensions were not paid as scheduled at midnight on August 20th.

A spokeswoman for the department said the money would be transferred at midnight last night and would be in pensioners' accounts by this morning.

Some 8,700 Defence Force pensioners were affected by the 24-hour delay in the electronic funds transfer, which happened when a member of the department's pension cheques office in Renmore, Co Galway, put the wrong date into the system.

NCB raises IN&M share price target

NCB has raised its share price target for Independent News & Media, citing growth opportunities, the group's global spread of assets and the positive outlook for the industry.

In a note released yesterday, the broker said it had raised its share price target to €3.70 and was recommending that investors buy the stock. The shares are currently trading at about €3.10. It also said speculation in relation to Denis O'Brien's presence on the share register would fuel interest in the shares.

IN&M said yesterday it had bought back 182,000 shares at prices between €3.10 and €3.13, as part of its continuing buyback programme.

Elan highlights Tysabri benefits

Pharmaceutical group Elan yesterday reiterated earlier comments saying that patients treated with its multiple sclerosis drug Tysabri had shown a "significant" improvement in quality of life when compared to a placebo.

The results of the phase three study were released to the stock market yesterday to coincide with their publication in a medical journal. Goodbody analyst Ian Hunter said that, while the data was not new, its appearance in a journal was an important step for the drug's scientific acceptance.

Aminex gets licence extension

Aminex, the Dublin- and London-listed oil and gas group, has been granted a six-month extension to its Nyuni/East Songo-Songo exploration licence offshore Tanzania. The two-well drilling programme was due to be complete by the end of November, but problems with the rig mean it has been delayed. The group now has until the middle of May next year to complete the work.

Providence starts Hook Head drilling

Providence Resources said yesterday it had started drilling at its Hook Head appraisal well in the Celtic Sea. The drilling is expected to take up to 20 days to reach target depth and a further 15 days for testing.

NI-based firm near 1,000-job goal

An Indian-owned call-centre firm set up in the North last year is well ahead of schedule in creating 1,000 jobs, it said yesterday.

Firstsource set up its first base in Belfast last August and another in Derry in December, promising to deliver the jobs total in 2008. "We are well ahead of schedule with 950 jobs created so far," said Seán Canning, Firstsource's UK operations director. - (PA)

McDonald's to put €800m into Europe

McDonald's wants to invest up to €800 million in its European business this year. "We will invest as much money there this year as we will invest in the US market, despite the fact that there are only half as many restaurants in Europe," said Ralph Alvarez, president and chief operating officer. - (Financial Times service)