In Short

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

Share options for IN&M executives

Independent News & Media (IN&M) has granted shares options to its chief executive Sir Anthony O'Reilly and five of its top managers.

Sir Anthony paid €150 to receive options over 1.5 million IN&M shares exercisable for seven years after December 19th, 2010. The options were priced at €2.23 each, 13 cent less than IN&M's closing price €2.36 last night.

Gavin O'Reilly, Donal Buggy, Vincent Crowley, Ivan Fallon and Brendan Hopkins each paid €100 for options over one million IN&M shares each exercisable in the same period at the same price.

Crisps will cost more next year

The price of crisps brands Tayto, Hunky Dorys and Perri will increase by 7 per cent on January 7th, their owner Largo Foods said yesterday. Largo cited "significant" increases in the cost of its raw materials, stating that cost of sunflower oil was up 66 per cent, maize was up 30 per cent and potatoes were up 7 per cent.

Dorgan appointed to FBD board

Outgoing IDA Ireland chief Seán Dorgan has been appointed to the board of insurance group FBD Holdings. He has also been appointed to the audit committee of the group's board. A former secretary general of the Department of Industry and Commerce and the Department of Tourism and Trade, he retires from IDA Ireland at the end of the year after nine years in the role.

Radio Kerry's Clare expansion

Radio Kerry has informed the Broadcasting Commission of Ireland that it will seek approval for its €7.2 million takeover of Clare FM at its next board meeting on January 28th.

The deal was due to be approved by shareholders of Clare FM last night. These include the Diocese of Killaloe, Minister of State Tony Killeen and the Galvin family, who own the Clare Champion newspaper, Kerry Foods and the Clare GAA.

The move signals further expansion for Radio Kerry after its purchase of Shannonside FM and Northern Sound Radio in 2005. Clare FM employs 30 staff. Clare FM's sale will also be subject to the approval of the Competition Authority.

Ulster Bank pulls its sponsorship

Ulster Bank has withdrawn its sponsorship of the Ernst & Young "Entrepreneur of the Year" competition, citing US rules on auditor independence. The development follows the takeover of ABN Amro bank by a consortium involving Royal Bank of Scotland, Ulster's parent.

Ernst & Young will audit ABN Amro's 2007 books. Ulster has ended its sponsorship of the competition in light of Securities & Exchange Commission rules, which disallow sponsorship arrangements between an auditor and its client company.

Broadband roll out continues

Eircom has enabled another 19 telephone exchanges for broadband this week. This represents an additional 13,000 lines bringing the total number of lines upgraded this year to 65,000. The telecoms company said 1.4 million telephone lines in Ireland can now support broadband.

The exchanges upgraded this week are Borrisoleigh, Lixnaw, Kilsheelin, Killurin, Kildorrery, Camolin, Castlepollard, Clonlara, Crettyard, Durrow, Ferns, Glendalough, Glin, Goresbridge, Killinick, Kilworth, Monivea, Patrickswell and Tyrrellspass.