Business News
Subscribe to Business News RSS 
17 May 2012
ISEQ loses more ground on Greek crisis
The ISEQ plunged again today amid talk of a bank run in Greece and fears of contagion spreading around Europe, including Ireland.
17 May 2012
Fitch: Top banks may need USD566bn
The world's top 29 banks may need a total $566 billion to meet tougher new capital rules, cutting returns by a fifth and forcing them to curb investor payouts and raise customer charges, Fitch Ratings said today.
17 May 2012
IMF to review Greece after election
The International Monetary Fund will not return to Greece to review its loan program before Athens holds fresh elections on June 17, an IMF official said today.
17 May 2012
Wall St lower after Philly Fed data
U.S. stocks extended losses as data showed manufacturing in the in the U.S. mid-Atlantic region unexpectedly contracted in May, adding to concerns about the global economy as Europe's debt crisis threatens to worsen.
17 May 2012
Aer Lin Regional to fly to Birmingham
Aer Lingus Regional today announced it is to open a new route from Ireland West Airport Knock to Birmingham.
17 May 2012
Merit to create 200 Galway jobs
Medical device manufacturer Merit Medical Systems today said it plans to create 200 new jobs at its new E20 million facility in Galway.
17 May 2012
Key US economic index falls in April
A gauge of future U.S. economic activity fell in April for the first time in seven months, according to an industry survey today that indicated a struggling economic recovery.
17 May 2012
Spanish bank may be wound down
Bankia SA's black hole may be so big that Madrid's only option for the Spanish bank will be to wind it down.
17 May 2012
Euro slides on Greek euro exit woes
The euro slid to a four-month low against the dollar today and was expected to remain under pressure as concerns grow about problems facing some periphery euro zone banks and the prospect of contagion if Greece exits the euro.
17 May 2012
US jobless claims hold steady
New U.S. claims for unemployment benefits were unchanged last week, according to government data today that will do little to ease concerns about a recent slowdown in jobs growth.
17 May 2012
ISEQ plunges as contagion fears grow
The ISEQ plunged this morning amid talk of a bank run in Greece and fears of contagion spreading around Europe, including Ireland.
17 May 2012
Irish bond yields surge to 7.5pc
The yield demanded by investors to hold Irish bonds surged to 7.5pc today amid fears of a run on Greece's banks ahead of what many are saying is inevitable Greek exit from the euro.
17 May 2012
Euro shares battered on Bankia fears
European shares extended their losing streak today as worries over Spanish lender Bankia caused its shares to fall more than 20 percent, hitting markets and adding to growing fears of contagion from Greece's economic crisis.
17 May 2012
Austerity continues to hammer spending
The Government's policy of austerity continues to adversely affect many aspects of the domestic economy with consumer spending in particular in chronic decline.
17 May 2012
Howlin: Half asset sale cash for jobs
The Minister for Public Expenditure and Reform, Brendan Howlin, has said that half of the total money raised by the sale of state assets will be used for job creation and the other half will be used to raise funds for other stimulus projects.
17 May 2012
Aviva to sell some business in overhaul
British insurer Aviva will sell under-performing businesses in a strategic overhaul after irate investors forced out its chief executive last week, it said today.
17 May 2012
Hireland helped create 2,000 new jobs
The Hireland initiative helped put 2,000 people in to employment, it claimed today.
17 May 2012
UTV radio revenue hit by weak euro
Belfast-based broadcaster and media group, UTV, this morning said revenues rose at its Irish radio division in the first four months of this year but was hit by the weakness of the euro against sterling.
17 May 2012
Japanese insurer opens in Ireland
MSI Management UK and Ireland, a member of MS and AD Insurance, Japan's largest non-life insurance group and the seventh largest non-life insurance group in the world, today announced the opening of its Dublin office.
17 May 2012
Spain bond yields leap at auction
Spain's medium-term borrowing costs rose sharply to around five percent in an auction of three- and four- year bonds today, reflecting concerns over the Spanish banking system and economy and the political crisis in Greece.
17 May 2012
IBOA call on AIB to honour agreements
AIB should now honour all contractual payments to staff, according to IBOA General Secretary, Larry Broderick, after rulings by the Industrial Tribunal in the North on two cases sponsored by the Union.
17 May 2012
Copperfasten create 37 Galway jobs
Copperfasten, an Irish software company that produces internet security solutions, today announced that it will create 37 new jobs supported by Enterprise Ireland in Galway.
17 May 2012
A third of firms to raise pay in 2012
One third of Irish employers expect to increase pay levels this year while six out of ten expect to take on new staff, according to an IBEC survey today.
17 May 2012
FTSE pushed lower by uncertainty
British shares slipped back towards five-month lows today, with investors braced for weeks of uncertainty stemming from political turmoil
17 May 2012
Merkel opens door to Greek stimulus
In comments that appeared aimed at calming speculation of a pending Greek exit from the euro, German Chancellor Angela Merkel called for Greece to
17 May 2012
Spain slips into recession 1st Quarter
Spain officially slipped in to recession in the first quarter, final figures confirmed today, leaving the country threatened with a prolonged
17 May 2012
ISEQ lower-Greek exit prospects on hold
The ISEQ opened lower this morning at 1,070 down 14 as markets live with the Greek situation and await the election result in June
17 May 2012
Paddy Power revenues up 28pc
Irish bookmaker Paddy Power said today revenue for the year to date rose by 28 percent as it entered the Italian online market on schedule
17 May 2012
Demand for plastic is key growth measure
China's consumption of plastic could grow by up to 7 percent this year after stalling in 2011, but the rebound will not be enough to melt
17 May 2012
European markets open lower on Greece
European shares edged lower at the start of trading today, having closed down during the last three sessions
17 May 2012
Roundup-Alternatives to Anglo Notes
The Minister for Finance has linked a deal on Ireland's bank debt and the State's emergence from the bailout programme.
17 May 2012
HSBC saves $1 billion in year one
HSBC, Europe's biggest bank, said it cut costs by $2 billion after one year of a 3-year turnaround plan, and is on target to meet its return on equity
17 May 2012
Enbridge plans huge pipeline expansion
Enbridge Inc kicked off one of the most sweeping expansions in its history on Wednesday, a C$3.2 billion ($3.2 billion) series of projects
17 May 2012
Bankia customers withdraw E1 billion
Customers of troubled Spanish bank Bankia, nationalized last week, have taken out over 1 billion euros from their accounts
17 May 2012
Futures point to slight European rise
European stock index futures pointed to a slight rebound today following an almost uninterrupted three-week drop
17 May 2012
Nikkei recovers on good growth data
The Nikkei share average inched back up today as upbeat Japanese economic growth data
17 May 2012
ECB move against Greek banks worries
The European Central Bank has stopped offering liquidity to some Greek banks it does not consider solvent, and international concern about the euro
17 May 2012
Japan economy rebounds in 1st Quarter
Japan's economy bounced back in the first quarter from a year-end lull, powering ahead of other major industrial nations
16 May 2012
ISEQ flat in nervous day's trading
The main Dublin shares index closed with only minor losses as investors ran for cover in the face of growing expectations that Greece will leave the euro and default.
16 May 2012
ECB stops working with some Greek banks
The European Central Bank has stopped monetary policy operations with some Greek banks as they have not been successfully recapitalised, euro zone central bank sources said today.
16 May 2012
IIF: Greek exit disaster for Ireland
The damage to the rest of Europe from Greece leaving the euro would be "somewhere between catastrophic and Armageddon", the chief negotiator for the body representing private sector holders of Greek bonds said today.
16 May 2012
Wall St edges higher at the open
U.S. stocks rose today with traders citing comments from German Chancellor Angela Merkel about keeping Greece in the euro zone as encouraging for markets.
16 May 2012
NUI student in line for World title
NUI Galway student Eve-Marie Costello has been awarded The Outstanding Young Person of Ireland award and has been put forward as a candidate for the Outstanding Young Persons of the World title.
16 May 2012
Apple readies new bigger iPhone
Apple plans to use a larger screen on the next-generation iPhone and has begun to place orders for the new displays from suppliers in South Korea and Japan, people familiar with the situation said today.
16 May 2012
IBOA accept terms on 950 redundancies
Finance sector union IBOA said that its members in Ulster Bank have voted to accept the recommendation from independent mediator, Martin King, on the Bank's restructuring proposals involving the loss of up to 950 jobs.
16 May 2012
Greeks are preparing for euro exit
Greeks are voting with their wallets and pulling euros out of the banks in fear that their country may leave the European single currency despite the declared determination of EU powers Germany and France to keep Athens in the monetary union.
16 May 2012
CRH transfers shares to Semapa
CRH has transferred its 49pc shareholding in Secil, the Portuguese cement producer, to Semapa (SGPS, S.A.), its former joint venture partner, for a sum of E564.5 million.
16 May 2012
Data show hope for US housing market
U.S. housing starts rose more than expected in April, according to a government report today that offered signs of a nascent housing recovery, even though permits for future building fell after touching a 3-1/2 year high the prior month.
16 May 2012
ISEQ down as investors run for cover
The main Dublin shares index fell again this morning as investors ran for cover in the face of growing expectations that Greece will leave the euro and default.
16 May 2012
Noonan fears crisis to impact Ireland
The mood of uncertainty spreading across Europe could scupper Ireland's plans to exit its international bailout with a return to bond markets next year, according to Finance Minister, Michael Noonan, today.
16 May 2012
Rehab Group to create 750 jobs
The Rehab Group announced today that it plans to recruit 750 staff in its operations over the next three years, with over 400 of those to be based in Ireland.
16 May 2012
Irish 3rd best inflation and trade in EU
Ireland has racked up the third lowest inflation rate in the EU and the third largest trade surplus, official figures from EU statistical agency, Eurostat reveal.
16 May 2012
Connemara completes aerial survey
Connemara Mining has completed an airborne survey targeting gold deposits over a block of five licences in the Wicklow/Wexford area.
16 May 2012
Fuel prices sends euro inflation up
Costlier fuel and clothing kept euro zone inflation well above the European Central Bank's target in April, giving policymakers little room to stimulate growth even as Germany signals it may be ready to tolerate more price rises at home.
16 May 2012
Massive exodus from health insurers
Twenty four thousand people cancelled their health insurance cover in the first three months of this year, which represents a massive 80pc-plus increase in the number that opted out in Quarter 1 of 2011.
16 May 2012
Exports and imports rise in March
Seasonally adjusted exports rose by E361 million (or 5pc) and imports rose by E961 million (or 26pc) in March 2012, latest trade figures from the CSO show.
16 May 2012
Airtricity owner buys North's Phoenix
SSE, the UK owner of Dublin-based Airtricity, is to buy Phoenix Supply Limited, Northern Ireland's market leading gas supplier.
16 May 2012
CRANN aims for nano-revolution
Irish scientists have conducted research to develop materials that could revolutionise the manufacture of silicon chips and lead to a new wave of next generation computers and real time 3D video processing.
16 May 2012
Guide to investing in Ireland launched
With Ireland still attracting record levels of foreign direct investment, Deloitte has launched 'Investing in Ireland', a guide for both first time investors and businesses seeking to expand and develop their presence here.
16 May 2012
Survey: Public confused over finances
A national survey today shows clear gaps in the Irish public's understanding of basic personal finance issues.
16 May 2012
Network Recovery buys out Barlan
Network Recovery, a full-service IT provider specialising in Cloud and Disaster Recovery services, has acquired the entire share capital of Barlan, an IT managed services and bespoke software provider for an undisclosed sum.
16 May 2012
Tullow promises strong growth in 2012
Irish oil and gas explorer, Tullow Oil, this morning said the first half of this year has been "excellent" for the company and that 2012 is shaping up for further significant growth.
16 May 2012
Samsung hit as Apple goes elsewhere
Shares in Samsung Electronics Co slumped more than 6 percent today, wiping $10 billion off the electronics giant's market value
16 May 2012
Banks and commodities drive FTSE lower
Britain's top share index dropped through the 5,400 level for the first-time since mid-December 2011 in early deals today
16 May 2012
Commodity prices to fall further
BHP Billiton said it expects commodity markets to cool further and that investors have lost confidence in the longer-term health of the global
16 May 2012
C and C bonus from London Olympics
Irish cider-maker C and C is uncertain whether a sales boost from this summer's Olympics and European football championships will be enough
16 May 2012
ISEQ sharply down-Trade figures today
The ISEQ is predictably lower this morning at 3,060, a drop of 25 points in early trading as markets seem to have nothing to support them
16 May 2012
European markets sharply lower
European shares fell today, in a broad-based sell-off, as concerns surrounding Greece sapped investor appetite for risk
16 May 2012
Roundup-Gov't chasing growth funds
Government ministers made the case for more cash for Ireland in Brussels yesterday amid expectations that European leaders will agree
16 May 2012
Asian markets down 3pc in record drop
Asian shares fell more than 3 percent, the biggest one-day drop in six months, and the dollar rose broadly
16 May 2012
Indian Rupee falls v Dollar continue
India's central bank accepts that it is fighting a losing battle in trying to stem a fall in the rupee, a slide that has mirrored the slump
16 May 2012
China Mobile in talks to carry iPhone
China Mobile, the world's biggest carrier by subscribers and the only Chinese operator that does not officially carry the iPhone,
16 May 2012
Facebook to raise $15 billion in IPO
Facebook Inc will increase the size of its initial public offering by 25 percent to raise about $15 billion,
16 May 2012
Nikkei lower on Greece and China worry
The Nikkei share average lost 1.1 percent today as forecasts for profit declines at some of Japan's major banks
16 May 2012
Oil weakens on US stocks and Greece
Oil fell more than $1 this morning, with the U.S. benchmark dropping to a five-month low, as a larger-than-expected rise in crude stocks
16 May 2012
European markets expect new lows
Financial spreadbetters expect Europe's main stock indexes to set fresh lows today, with investors fretting about a possible Greek exit
16 May 2012
Euro hits record low against Dollar
The euro hit a four-month low today, coming under renewed pressure a day after Greece called a new election that may hand victory to leftists
15 May 2012
ISEQ flat as Greeks go back to polls
The ISEQ inched lower again today after Monday's rout in nervous trading as investors looked with dread to the prospects of a Greek euro exit after new elections.
15 May 2012
Banking lobby fights bonus caps
A cap on bank bonuses in the European Union would be intrusive and encourage banks to bump up basic pay instead, leading bank lobby officials said today.
15 May 2012
Poll: Weakness to plague eurozone
The euro zone economy might return to weak growth in the second half of the year but unemployment looks certain to rise past its current 15-year high, according to a Reuters poll of 70 economists.
15 May 2012
Brooks charged over hacking scandal
Rebekah Brooks, a close confidante of Rupert Murdoch, was charged today with interfering with a police investigation into a phone hacking scandal that has rocked the tycoon's empire and sent shockwaves through the British political establishment.
15 May 2012
Facebook IPO set to raise USD12.1bn
Facebook Inc increased the price range on its initial public offering an average of 14 percent to raise more than $12 billion, giving the world's No. 1 social network a valuation potentially exceeding $100 billion.
15 May 2012
Wall St flat as Greek elections loom
U.S. stocks traded flat today, erasing strong gains in the premarket session after news Greece will hold new elections put the debt-stricken country's bailout package and debt repayments further at risk.
15 May 2012
Greece to hold new elections
Greece will hold new elections after political leaders failed to find agreement on a coalition government today, a spokesman for the Greek president said.
15 May 2012
US retail sales barely move in April
Sales at U.S. retailers barely rose in April as the boost from an unseasonably warm winter faded, pointing to some loss of momentum in consumer spending early in the second quarter.
15 May 2012
State's debt at record high in Q4
The State's total debt rose to a record high in the last three months of last year while households continued to pay off their loans, according to the Central Bank's latest Quarterly Financial Accounts.
15 May 2012
Hours-based part-time pay system fairer
An hours-based system for part-time jobseeker's payments would be much fairer and more equitable, according to a new report by the Oireachtas Committee on Jobs, Social Protection and Education.
15 May 2012
ISEQ inches lower in nervous trading
The ISEQ inched lower again after yesterday's rout in nervous trading as investors looked with dread to the prospects of a Greek euro exit.
15 May 2012
Musgrave Group profits dip 1pc in 2011
Convenience retail chain owners, Musgrave Group, today posted a 1.6pc rise in overall sales but a 1pc dip in profits for the full year to the end of December last as the economic backdrop remain challenging.
15 May 2012
Galway's Crospon wins top Euro award
Crospon, the Galway-based medical device developer, has been recognised with the 2012 European Enabling Technology Award for Surgical Imaging Technology by Frost and Sullivan.
15 May 2012
Call for overhaul of co-op laws
The co-operative business model should benefit from the same privileges investor owned companies have under company law, a major conference marking the UN International Year of Co-operatives heard in Dublin this morning.
15 May 2012
Finance ministers edge towards bank deal
European finance ministers edged closer today to breaking a deadlock on tougher capital standards for banks, a reform designed to prevent another financial crisis but which has exposed deep rifts between Britain and the rest of the EU.
15 May 2012
Eurozone economy just misses recession
The euro zone just avoided recession in early 2012 but the region's debt crisis sapped the life out of the French and Italian economies and widened a split with paymaster Germany.
15 May 2012
Just one strike on during first quarter
There was only one dispute in progress in the first quarter of 2012 involving 75 workers and one firm, latest figures from the Central Statistics Office show.
15 May 2012
Survey sees attitude to savings polarise
While the general attitude of Irish people towards savings continues to improve, the number of people not saving at all continues to increase, the latest Nationwide UK (Ireland) /ESRI Savings Index shows.
15 May 2012
Google's Android gain market share
Google's Android smartphone software stretched its market lead in early 2012, helped by new models from handset makers like Samsung and HTC and piling the pressure on rivals like Research In Motion and Nokia.
15 May 2012
Min: Security problems at Dub Airport
Transport minister, Leo Varadkar, this morning confirmed that an inspection by EU officials had found two security problems at Dublin Airport.
15 May 2012
TVC earnings up on UTV investment boost
Net Asset Value per share (NAV) at Dublin-listed investment group, TVC Holdings rose in its full year to the end of March last after rises in several of its portfolio assets, including UTV.
15 May 2012
DCC: We'll bounce back after profits dip
Dublin-listed business services and fuel distribution group DCC said it would bounce back from an 18pc dip in operating profit, dented by milder weather and higher oil prices during the winter months.
15 May 2012
Flat economy poses problem for Hollande
France's economy stalled in the first quarter as household consumption flatlined, businesses pared back investment and exports slowed,
15 May 2012
German GDP lifts all boats as FTSE rises
A rally by hard-pressed commodity stocks and banks after sharp falls the previous day helped Britain's leading share index bounce back today,
15 May 2012
Technocrat Gov't rejected by Greek left
Greece's president will ask politicians today to stand aside and let a government of technocrats steer the nation away from bankruptcy
15 May 2012
ISEQ steady- DCC results examined
The ISEQ is steady at 3,088 this morning, unchanged from yesterday's lows and in a nervous mood with Greek elections looming.
15 May 2012
Switzerland, land that time begot !
Andrew I-Jen Chen swapped a career crunching numbers at French bank BNP Paribas to take up an apprenticeship at one of Switzerland's most
15 May 2012
German GDP lifts European markets
European equities bounced up from 2 012 lows today, lifted by surprisingly strong German economic data, but concerns about the future of the euro
15 May 2012
Germany growing, France stagnates
Germany's economy confounded expectations by posting robust growth in the first quarter of the year while France could summon up none at all,
15 May 2012
Roundup-Noonan watching Spanish deal
Ireland will pursue an "alternative" way of reducing the bank bailout costs if efforts to change Anglo Irish Bank's promissory note don't succeed
15 May 2012
Coty withdraws Avon bid
Fragrance company Coty Inc withdrew its $10.7 billion takeover bid for Avon Products Inc on Monday
15 May 2012
New find may stoke bid battle for Cove
U.S. explorer Anadarko Petroleum Corp has discovered a major new gas field offshore Mozambique in a move that could stoke a bid battle for one of
15 May 2012
German Steelmakers offer grim outlook
Germany's two biggest steelmakers, ThyssenKrupp and Salzgitter, gave a grim outlook for the rest of the year as the euro zone crisis crimps demand
15 May 2012
Allianz sees profit rise of 40pc
Allianz saw operating profit rise 40 percent to 2.330 billion euros ($3 billion)in the first quarter, as low damage claims
15 May 2012
Futures point to rebound in Europe
European stock index futures pointed to a rebound today following the previous session's sell-off
15 May 2012
Nikkei falls as Greek crisis deepens
Japan's Nikkei share average was dragged down by exporters with exposure to Europe this morning after Greece's struggle to form a coalition
15 May 2012
Brent crude approaches $111 a barrel
Brent crude futures fell towards $111 a barrel today as Greece's political and economic turmoil deepened and worries that the debt-laden country
14 May 2012
ISEQ plunges below 3,100 on Greek woes
The ISEQ followed most European markets lower today tipping under the 3,100 level again as investors weighed the impact of an increasingly possible Greek euro exit and fears that the eurozone is falling in to a deeper recession rose.
14 May 2012
European shares dive to 18-week low
European shares sank to a four and a half month closing low today in a broad-based sell-off as political deadlock in Greece raised the prospect of the country's exit from the euro zone, while concerns over China's economy also undermined sentiment.
14 May 2012
Greek stalemate raises fear of euro exit
Greek political leaders stuck to entrenched positions before another round of coalition talks today, dashing hopes of a last-minute compromise to avoid a new election that risks pushing the country closer to financial default.
14 May 2012
Noonan: Spain bank deal 'interesting'
Finance Minister, Michael Noonan, today said that any proposals from the EU to prop up Spain's banks without shifting the debt on to Spanish taxpayers would be "interesting" from our point of view.
14 May 2012
Tourism Ireland target Thai market
A major travel trade event to grow tourism business from the Asia Pacific, Middle East and Africa (APMEA) region gets under way this week in Bangkok, Thailand.
14 May 2012
JPMorgan executive quits after $3bn loss
JPMorgan Chase and Co sacrificed investment chief Ina Drew today in response to trading losses that could reach $3 billion or more and which have tainted the reputation of the bank's high profile chief executive Jamie Dimon.
14 May 2012
Wall St opens lower on Greek crisis
U.S. stocks fell at the open today, tracking global equity markets lower as a political impasse in Greece heightened concerns about Europe's debt crisis and fears mounted about an economic slowdown in China.
14 May 2012
Euro in 4-month trough on Greek impasse
The euro fell to a near four-month low today as the ongoing political turmoil in Greece highlighted the risk it might exit the euro zone, while worries about slowing Chinese and global growth drove down higher-yielding currencies.
14 May 2012
Britain isolated in bank rules row
Isolated in Europe, Britain has little choice but to back down on its demand for changes to draft EU banking rules it had called idiotic.
14 May 2012
CoderDojo comes to Blanchardstown
ITB (Institute of Technology Blanchardstown) will welcome 60 students aged 10 to 16 into the college to take part in a new initiative created by teen programmer James Whelton about a year ago, after he completed his leaving certificate.
14 May 2012
ISEQ plunges amid new crisis fears
The ISEQ followed most European markets lower this morning as investors weighed the impact of an increasingly possible Greek euro exit and fears that the eurozone is falling in to a deeper recession rose.
14 May 2012
Oil prices fall sharply on economy fears
Oil fell sharply today, as mounting political uncertainty in Greece and worry about the prospects for growth in China added to a sense that the demand outlook is worsening.
14 May 2012
CIF predict big builds from EU stimulus
Hundreds of shovel ready projects around the country could be given an immediate green light if the Government secures an agreement on an EU stimulus package, according to Construction Industry Federation (CIF) chief, Tom Parlon.
14 May 2012
EU Commission wants Greece in eurozone
The European Commission hopes Greece will remain part of the euro zone but Athens must respect its obligations, the European Union's executive arm said today.
14 May 2012
Eurozone for recession as output falls
Output at factories in the euro zone unexpectedly fell in March, the latest in a series of disappointing numbers signalling that the bloc's recession may not be as mild as policymakers hope.
14 May 2012
Laya Health launched with 100 new jobs
Laya Healthcare, the Irish private health insurer that took over from Quinn Health, launched today with the announcement of the creation of 100 new jobs.
14 May 2012
Spain's bond yields rise on Greek crisis
Spain's short-term debt costs rose today and its benchmark premium over German bonds hit a euro era high, with Madrid's newest banking sector clean-up failing to allay the concerns of investors also unnerved by political deadlock in Greece.
14 May 2012
Shares, euro hit as Greek drama unfolds
Uncertainty over the impact of a potential Greek exit from the euro on the debt-laden 17-nation currency bloc drove a rush to safety by investors today, sending the euro to near four month lows and European shares down 1.5pc.
14 May 2012
Brokers: early access pension would work
The vast majority of Irish brokers (83pc), when asked in a survey, say that early access to pension funds would increase rather than reduce pension provision in Ireland.
14 May 2012
Hotel bookings scams on the rise
People are being urged to be vigilant when booking holidays online due to an increase in complaints about fake hotel booking confirmation emails.
14 May 2012
Providence revenues up, losses narrow
Irish oil and gas explorer, Providence Resources, this morning said that it raised its revenues and narrowed its losses in the full year 2011 as oil prices stayed high and it pumped more crude.
14 May 2012
Sharp fall in April construction index
April saw a sudden drop in activity and more jobs shed in the Irish construction sector, the latest Ulster Bank Construction PMI index shows.
14 May 2012
ISEQ lower- Greece election overhang
The ISEQ is lower this morning at 3,132, down 25 points as European markets have nothing to hold onto with Greece heading to another election
14 May 2012
Greece and Growth push FTSE lower
A broad-based sell-off headed by heavyweight banks and commodity stocks dragged Britain's top share index lower today
14 May 2012
S. Europeans in London property market
Worsening financial and political turmoil in southern Europe caused a surge of interest in London property last month with buyers from Greece
14 May 2012
Oil lower as demand prospects easing
Brent crude slipped below $112 today on a worsening oil demand outlook after talks to form a new government in Greece failed
14 May 2012
European markets open lower on Greece
European shares opened sharply lower this morning as Greece's failure to form a government threatened to deepen the euro zone crisis.
14 May 2012
Roundup-Facebook tax affairs in Ireland
Ireland is the only "material" jurisdiction outside the US scrutinising the tax affairs of Facebook, according to the social
14 May 2012
Nigeria fuel subsidy fraud costs billion
A $6.8 billion fuel subsidy fraud scandal is heaping pressure on Nigerian President Goodluck Jonathan to prosecute top officials
14 May 2012
Ford plays catch-up in Chinese market
Frank Chuang proudly surveys his immaculate new car plant as partly assembled versions of the Ford Focus travel down the production line.
14 May 2012
Yahoo changes CEO for 3rd time
Yahoo Inc is replacing its CEO for the third time in as many years, and giving three board seats to a hedge fund led by Daniel Loeb
14 May 2012
China easing lifts Nikkei
Japan's Nikkei share average inched higher today as China's monetary easing countered unease ahead of Greece's last-ditch attempt to form a coalition
14 May 2012
Top executives at JP Morgan to exit
Three top executives involved with a failed hedging strategy that cost JPMorgan Chase & Co at least $2 billion and tarnished its reputation
14 May 2012
Futures point to lower European opening
European stock index futures pointed to a lower start today as Greece's failure to form a government
14 May 2012
Spain faces corrosion not collapse
Students are protesting on Barcelona's elegant boulevards, public-sector wages are being cut for the second time in three years
14 May 2012
Euro hits new 4 month low on Greece
The euro hit its lowest level in nearly four months today after Greek political leaders failed in their latest efforts to form a ruling
11 May 2012
ISEQ closes volatile week higher
The main Dublin shares index closed a volatile week higher as investors remain wary about the Greek political impasse and the growing hole in Spain's bank capital but were encouraged by US economic figures.
11 May 2012
US consumer sentiment near 4-year high
U.S. consumer sentiment rose to its highest level in more than four years in early May as Americans remained upbeat about the job market, a survey released today showed.
11 May 2012
Silvercloud most investable in Ireland
NDRC spin out company, Silvercloud Health, an innovative cloud based platform was named 'Most Investable Business in Ireland' at the ISA/IVCA Software Investment Forum last night.
11 May 2012
Fitch warn Irish risk from Greek exit
Global ratings agency, Fitch, today warned that Ireland would be among a list of countries that would face a downgrade in credit status if Greece were to leave to eurozone.
11 May 2012
Wall St opens flat after week's losses
U.S. stocks were little changed today but remained on track for a second week of declines after JPMorgan Chase and Co revealed a trading loss of at least $2 billion from a failed hedging strategy.
11 May 2012
Euro falls to a 14-week dollar low
The euro hovered near a 3-1/2-month low today as Greek political parties made efforts to form a coalition government, and looked fragile as risk sentiment struggled on weak Chinese data and JPMorgan's shock trading losses.
11 May 2012
ACCA want no delay in insolvency Bill
Incoming President of the Association of Chartered Certified Accountants (ACCA), Tom Murray, said today that any further delays in publishing the Personal Insolvency Bill will harm business development and job creation.
11 May 2012
Begg call for Govt to back Hollande
Congress General Secretary David Begg said today that Government could delay ratification of the Fiscal Treaty - if passed - and stand "four square behind (Francois) Hollande" to ensure there is a new growth strategy for Europe.
11 May 2012
ISEQ flat as markets mull Greek impasse
The main Dublin shares index was flat this morning as investors remain wary about the Greek political impasse.
11 May 2012
Spain commission audit of its banks
Spain agreed to commission an independent audit of its financial system today, trying to dispel market concerns that a state-funded bank bailout, set to be approved by the cabinet, could strain public finances to breaking point.
11 May 2012
Call for regulation of debt collectors
The Sinn Fein Spokesperson on Communications, Energy and Natural Resources Martin Ferris has called on the government to introduce legislation to regulate debt collection.
11 May 2012
The Gathering launched by Taoiseach
The Gathering, which is being hailed as the biggest tourism event ever held in Ireland, was launched by the Taoiseach and Tanaiste in Dublin Castle today.
11 May 2012
Germany to Greece: Euro is your choice
Germany told Greece today that staying in the euro zone was its own choice and that it must not stray from austerity if it expects to get international cash.
11 May 2012
EU predict 0.5pc Irish GDP in 2012
The Irish economy returned to growth in 2011 after three years of contraction and will grow - in terms of GDP - by 0.5pc this year, the Spring Forecast from the EU Commission said today.
11 May 2012
Big boost for exports from euro fall
The euro's sharp slide from the eurozone and Greek crisis should provide a welcome boost to Irish exports and growth in the coming months, the Irish Exporters Association (IEA) said today.
11 May 2012
Accountants launch inward invest scheme
Chartered Accountants Ireland, Ireland's largest and longest established professional body of accountants, today launched a new initiative aimed at boosting foreign direct investment (FDI) into Ireland.
11 May 2012
Eircom deal will not see it sold off
Michael McAteer of Grant Thornton, the examiner appointed by the High Court to eircom, today said he has reached agreement with creditors that will take it out of examinership without being sold off.
11 May 2012
BT Ireland post record full year profits
BT today announced the results for its all-Ireland operation for the full year to the end of March last showing flat revenues but profits that hit a new record with a 9pc rise on the previous year.
11 May 2012
UPC posts rise in subscriber numbers
TV, broadband and telephone provider, UPC Ireland today said that, in the first three months of 2012, it added 36,200 subscriptions to its next generation services from homes and businesses.
11 May 2012
Banks get ready for return of Drachma
Banks are quietly readying themselves to start trading a new Greek currency. Some banks never erased the drachma from their systems after Grece adopted
11 May 2012
Honduras reinvents itself
Shortly after the 2009 coup that overthrew Manuel Zelaya, Honduras's newly elected president, Porfirio Lobo, asked his aides to think big
11 May 2012
JP Morgan impacts as FTSE lower
Banks knocked by news JPMorgan's announcement that it incurred a $2 billion loss from a failed hedging strategy led Britain's top share index
11 May 2012
ISEQ lower-Market sentiment negative
The ISEQ is lower this morning at 3,125, down 10 points on yesterday's close as European markets react to JP Morgan losses, Spain's banking troubles and Greece on the edge.
11 May 2012
Is it time to start worrying about China
Just how worried should we be by yet another set of disappointing numbers on the Chinese economy?
11 May 2012
Banks lead European stocks lower
European shares fell today as uncertainty over Greece's political outlook, a huge loss from JPMorgan and mounting concerns over Spain's banking
11 May 2012
Roundup-Quinns evidence "fantastic"
The evidence of businessman Sean Quinn, his son and nephew, who deny breaching contempt-of-court orders, is "fantastic" and "incredible"
11 May 2012
Telefonica profits halved on writedown
Spain's Telefonica said first-quarter net profit halved after the value of its stake in Telecom Italia plunged
11 May 2012
Nissan returns to profit in 1st Quarter
Nissan Motor Co posted today a one-third jump in quarterly profit and projected a 28 percent rise in the year ahead
11 May 2012
Oil follows Euro below $112 a barrel
Brent crude dropped below $112 a barrel this morning, tracking losses in the euro amid a political deadlock in Greece
11 May 2012
JP Morgan shock adds to Euro pressure
The euro hit a 3-1/2-month low this morning as news of JPMorgan's trading losses from a failed hedging strategy
11 May 2012
JP Morgan takes $2 billion shock hit
JPMorgan Chase and Co, the biggest U.S. bank by assets, said it suffered a trading loss of at least $2 billion from a failed hedging strategy
11 May 2012
China's Ind. Prod. Lowest in a decade
Chinese industrial production weakened sharply in April as investment slowed to its lowest level in nearly a decade,
11 May 2012
Futures point to lower European start
European stock index futures pointed to a lower open today, resuming a two-week retreat
11 May 2012
Nikkei lower on China Ind. production
The Nikkei share average sank below 9,000 today to mark its sixth straight week of losses
10 May 2012
ISEQ rebounds on new Greek hopes
The main Dublin shares index inched out of the red again today as Greece's political turmoil entered its fourth day but odds of a Greek settlement grew and as US jobs data beat expectations.
10 May 2012
Mobile firms braced for cheaper roaming
Consumers in Europe will pay less for mobile phone calls, texts and Internet access when travelling abroad following a ruling today that could also prompt telecom companies to introduce cross-border deals to offset lost revenue.
10 May 2012
IBRC say Quinn evidence 'incredible'
A Dublin court was told today by lawyers representing IBRC, the former Anglo Irish Bank, that evidence from Sean Quinn denying that they had breached court orders in putting assets out of IBRC's reach is "incredible and fantastic".
10 May 2012
EU piles the pressure on Greece
In a loosely coordinated strategy, the EU's top officials are piling the pressure on Greece to formulate a way to stick to the bailout terms.
10 May 2012
Big demand for E27 a cup cat poop coffee
The Celtic Tiger may be extinct but there is growing demand for exotic "cat poop" coffee in Ireland at E26.59 per steaming cup.
10 May 2012
Wall St opens up on bargain hunting
U.S. stocks rose at the open today as recent weakness sent investors looking for bargains, with the S and P 500 appearing to find support after hitting a two-month low in the prior session.
10 May 2012
Greek unemployment hits record high
Greece's jobless rate hit a new record in February, underlining the hardship that drove voters to reject an international bailout and plunge the country deeper into crisis in Sunday's election.
10 May 2012
US jobless claims fall, trade gap widens
The number of Americans submitting new applications for jobless benefits edged down last week, easing concerns the labour market was deteriorating after April's weak employment growth.
10 May 2012
ISEQ down on Greek political chaos
The main Dublin shares index slid further in to the red this morning as Greece's political turmoil entered its fourth day and odds of a Greek exit from the euro grew.
10 May 2012
RaboDirect appoint new Irish manager
Online savings bank RaboDirect, part of the Rabobank Group, has appointed Tim Bicknell as General Manager for Ireland.
10 May 2012
Merkel resists calls for growth stimulus
Chancellor Angela Merkel rejected calls from her centre-left opponents in Germany and Europe for economic stimulus policies that rely on new debt, warning parliament today that "growth on credit" would just tip Europe deeper into crisis.
10 May 2012
Ladbrokes end book on Greek euro exit
Want a flutter on Greece leaving the euro zone? Too late.
10 May 2012
BoE stops QE as inflation worries rise
The Bank of England voted not to give Britain's struggling economy another cash injection today as concerns over stubbornly high inflation outweigh the risk of a prolonged recession and renew dangers from the euro zone debt crisis.
10 May 2012
EU force cosmetics trademark withdrawal
In an EU row over trademarks, Helena Rubinstein and L'Oreal have been told to withdraw their brands "Botolist" and "Botocyl" respectively.
10 May 2012
A Lingus Regional launch Southend route
The first Aer Lingus Regional Dublin to London Southend service was officially launched at Dublin Airport this morning by Minister for Transport, Tourism and Sport, Leo Varadkar.
10 May 2012