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Last Updated:
May 21, 2012 - 10:29 AM |
News
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International
Markets: Spain to contract again in second quarter; Yahoo sells half stake back to China's Alibaba
Markets news on stocks, currencies and commodities: Spain to contract again in second quarter; Yahoo sells half stake back to China's Alibaba.
May 21, 2012 - 10:24 AM
News
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Irish
Monday Newspaper Review - Irish Business News and International Stories - - May 21, 2012
Principal news stories from the Irish Independent, Irish Times and Irish Examiner.
May 21, 2012 - 9:38 AM
News
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Irish
Ryanair reports record annual profits
Ryanair, Europe’s biggest low cost airline today reported a 25% increase in full year profits to €503m. Revenue increased 19% to €4,325m as traffic grew 5% and average fares rose 16%. Unit costs rose by 13% due to a 30% increase in fuel costs and a 6% increase in sector length. Excluding fuel, sector length adjusted unit costs were flat.
May 21, 2012 - 9:03 AM
News
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Irish Economy
Irish Economy 2012: 85% of businesses across the island of Ireland are not growing
Irish Economy 2012: The results of the latest Business Monitor for Q1 2012 issued by InterTradeIreland, show that 85% of businesses across the island of Ireland are not growing. The protracted downturn continues to have a significant adverse impact on businesses in Ireland, where just over a tenth (13%) of those surveyed are either growing or expanding. This impact appears to be greater in Ireland than for their counterparts in Northern Ireland where just over a fifth (21%) of businesses report that they are growing.
May 21, 2012 - 7:26 AM
News
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Global Economy
G-8 leaders push for growth in Eurozone; Agree on oil release from strategic reserves if nuclear stalemate with Iran disrupts supplies
Leaders of the G-8 countries (Group of Eight: United States; Japan, Germany, France, UK, Italy, Canada and Russia) have urged Angela Merkel, the German chancellor, to boost stalling Eurozone growth. There was also agreement to increase pressure on Iran with a decision to release oil from strategic reserves if there is further disruption to supply.
May 21, 2012 - 7:17 AM
News
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Irish Economy
Irish Economy 2012: Home mortgage approvals in first quarter 2012 sink to levels not seen since 1960s
Irish Economy 2012: The IBF/PwC Mortgage Market Profile report published Friday, shows that 2,630 new mortgages to the value of €450m were issued during the first quarter of 2012. The current series of official statistics are from 1970 and the annualised quarterly performance in 2012 is 16% below the level in 1970 - - back possibly 45 years into the 1960s.
May 19, 2012 - 5:27 AM
News
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International
Markets: Facebook valued at $104bn; Spanish banks downgraded; Irish trading updates
Markets news on stocks, currencies and commodities: Facebook valued at $104bn; Spanish banks downgraded; Trading updates from INM, IFG, Datalex and Total Produce.
May 18, 2012 - 10:19 AM
News
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Property
Irish House Rentals: Average property rent nationwide unchanged in year to first quarter of 2012
Irish House Rentals: The average rent nationwide in the first quarter of 2012 was largely unchanged from a year previously (down 0.1%), according to the latest report published by Ireland's biggest property website, Daft.ie. This marks the eighth consecutive quarter of stable rents, with the average rent nationwide now €812.
May 18, 2012 - 10:01 AM
News
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Irish
Friday Newspaper Review - - Irish Business News - - May 18, 2012
Principal news stories from the Irish Independent, Irish Times and Irish Examiner.
May 18, 2012 - 8:54 AM
News
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Irish Economy
IBM to create 'several hundred new jobs' in Dublin -- Kenny/Bruton
Taoiseach Enda Kenny and Minister for Jobs, Enterprise and Innovation Richard Bruton TD, today welcomed the announcement that IBM is to create several hundred new jobs (neither the number or time-scale of the job creation was disclosed), with the opening of a new Global Services Integration Hub, in Mulhuddart, West Dublin.
May 18, 2012 - 7:12 AM
News
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Innovation
Hewlett-Packard is expected to announce 30,000 job cuts next week
Hewlett-Packard, the world's biggest PC company and a leader in printers and
computer services is expected to announce 30,000 jobs next week.
May 18, 2012 - 6:30 AM
Analysis/Comment
Dr Peter Morici: The eclipse of American Banking
Dr Peter Morici: Investors may have overreacted to J.P. Morgan’s $2.3 billion dollar trading loss, and traders may have an opportunity for quick gains in bank stocks. Longer-term US banks may never recover to their past glory.
May 18, 2012 - 4:02 AM
News
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US Economy
US Leading Economic Index fell slightly in April 2012
The Conference Board Leading Economic Index (LEI) for the US declined 0.1% in April 2012 to 95.5 (2004 = 100), following a 0.3% increase in March, and a 0.7% increase in February.
May 17, 2012 - 4:18 PM
News
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EU Economy
ZEW Indicator of Economic Sentiment for Germany fell in May 2012
The ZEW Indicator of Economic Sentiment for Germany has decreased by 12.6 points to a level of 10.8 points in May 2012. Thus, the indicator has deteriorated for the first time after registering five consecutive increases. As a result expectations about the development of the German economy in the next six months are still at positive territory, but have tarnished compared to the previous survey. It may have contributed to this month’s decline that the outcome of the elections in Greece and France has made it more doubtful that European governments will resolutely fight the sovereign debt crisis.
May 17, 2012 - 4:11 PM
News
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US Economy
Number of US workers filing new applications for jobless benefits was flat last week
The number of US workers filing new applications for jobless benefits was flat last week, signalling that labour market is stabiliaing.
May 17, 2012 - 4:01 PM
News
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International
Markets: Japan reports strong GDP performance in Q1 2012; Paddy Power says revenues are up 28% in 2012
Markets news on stocks, currencies and commodities: Japan reports strong GDP performance in Q1 2012; Paddy Power says revenues are up 28% in 2012.
May 17, 2012 - 10:19 AM
News
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Irish Economy
Taoiseach announces 187 jobs at US and Irish-owned firms - - Merit Medical and Copperfasten Technologies - - in Galway
Taoiseach Enda Kenny is in Galway today announcing new jobs -- a minister would only comment on job losses when there are in his/her constituency or the numbers are a big story in the national media. Over 150 jobs are to be created in Galway by the US multinational Merit Medical while Copperfasten, an Irish software company, has received an investment of €500,000 from Enterprise Ireland and Oyster Technology Investments Ltd, to help create 37 jobs.
May 17, 2012 - 9:38 AM
News
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Irish
Thursday Newspaper Review - Irish Business News and International Stories - - May 17, 2012
Principal news stories from the Irish Independent, Irish Times and Irish Examiner.
May 17, 2012 - 9:06 AM
News
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Irish Economy
IBEC says about one-third of employers expect to increase basic pay in 2012
Ahead of its Annual Employment Law Conference at Clontarf Castle, Dublin, later today, IBEC, the main Irish business lobby group, published data from its latest pay survey, which found that about one-third (33%) of employers expect to increase basic pay in 2012 and two-thirds (67%) will either freeze or reduce basic pay rates. The jobs outlook has also improved with almost six out of ten (56%) companies planning to hire new permanent or temporary staff in the next six months.
May 17, 2012 - 8:22 AM
Analysis/Comment
Dr Peter Morici: Why and how Greece must exit the Euro
Dr Peter Morici: Austerity is imposing intolerable unemployment and political chaos in Greece, and won’t permit it to repay its debts. Athens must abandon the euro and reintroduce the drachma.
May 17, 2012 - 7:47 AM
News
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US Economy
US home construction grew in April and industrial output rebounded in month
US home construction grew in April, the latest signal of a tentative recovery in the housing market. Separately, US industrial output rebounded in April, a sign of healthy demand for factory goods.
May 16, 2012 - 4:17 PM
News
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Irish Economy
Irish Economy 2012: Rise in Irish merchandise exports and imports in March but exports dip in Q1 2012
Irish Economy 2012: Preliminary figures for March 2012 indicate a seasonally adjusted increase in both Irish merchandise exports and imports. Seasonally adjusted exports rose by €361m (or 5%) and imports rose by €961m (or 26%) in March 2012. The increase in imports was largely due to significant imports of Other transport equipment in March 2012 (likely aviation leasing companies) according to the Central Statistics Office. Exports fell in Q1 2012 and were unchanged compared with Q1 2011, while imports rose.
May 16, 2012 - 1:43 PM
News
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UK Economy
UK unemployment in surprise development fell by 45,000 to 2.63m between January and March 2012
UK unemployment in a surprise development, fell by 45,000 to 2.63m between January and March 2012, according to official figures issued today.
May 16, 2012 - 1:24 PM
News
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EU Economy
Eurozone annual inflation was 2.6% in April 2012, down from 2.7% in March
Eurozone annual inflation was 2.6% in April 2012, down from 2.7% in March. A year earlier the rate was 2.8%. Monthly inflation was 0.5% in April 2012, according to Eurostat, the statistical office of the European Union. EU annual inflation was 2.7% in April 2012, down from 2.9% in March. A year earlier the rate was 3.3%. Monthly inflation was 0.5% in April 2012.
May 16, 2012 - 12:09 PM
News
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International
Markets: C&C reports 9% rise in 2011/2012 operating profit
Markets news on stocks, currencies and commodities: C&C reports 9% rise in 2011/2012 operating profit.
May 16, 2012 - 10:06 AM
News
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Irish
Wednesday Newspaper Review - Irish Business News and International Stories - - May 16, 2012
Principal news stories from the Irish Independent, Irish Times and Irish Examiner.
May 16, 2012 - 8:08 AM
News
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US Economy
General Motors plans to stop advertising with Facebook citing little impact on consumers' car purchases
General Motors plans to stop advertising with Facebook because the social media site has little impact on consumers' car purchases, according to a report today.
May 16, 2012 - 8:01 AM
News
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Global Economy
Growing majority of global investors would like to see more fiscal stimulus policies from governments around the world
A growing majority of global investors would like to see more fiscal stimulus policies from governments around the world, amid resurgent fears about the Greek economy, according to the BofA Merrill Lynch Survey of Fund Managers for May.
May 16, 2012 - 7:05 AM
News
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EU Economy
Hollande sworn in as president of France; Greece heading for new general election
François Hollande was sworn in as president of France on Tuesday, putting the country under the leadership of a Socialist for the first time since 1995. The inauguration of the new president was on the day that it was reported that the French economy grew at a zero percentage rate in the first quarter of 2012. Meanwhile, Greece is heading for a new general election after talks chaired by the president failed to get an agreement on a coalition government.
May 15, 2012 - 3:48 PM
News
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Irish Economy
Central Bank says Irish public debt hit all-time record of €173.3bn in fourth quarter of 2011
The Central Bank's financial accounts for the fourth quarter of 2011 shows that Irish public debt rose to €173.3bn - - an all-time record. The total increased €3.2bn or 2% on the previous quarter. The increase in government liabilities over the period reflected the receipt of further funding from the EU/IMF programme of €7.7bn.
May 15, 2012 - 2:59 PM
News
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EU Economy
GDP growth was 0.0% in the Eurozone and 0.1% in the EU27 in the first quarter of 2012
GDP (gross domestic product) growth was 0.0% in the Eurozone (EA17) and 0.01% in the EU27 in the first quarter of 2012, compared with the previous quarter, according to flash estimates published by Eurostat, the statistics office of the European Union. In the fourth quarter of 2011, growth rates were -0.3% in both zones.
May 15, 2012 - 10:17 AM
News
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International
Markets: French GDP growth dipped to 0.0% in Q1 2012; DCC reports fall in 2011/2012 profit
Markets news on stocks, currencies and commodities; French GDP growth dipped to 0.0% in Q1 2012; DCC reports fall in 2011/2012 profit.
May 15, 2012 - 9:38 AM
News
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Irish
Tuesday Newspaper Review - Irish Business News and International Stories - - May 15, 2012
Principal news stories from the Irish Independent, Irish Times and Irish Examiner.
May 15, 2012 - 8:45 AM
News
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EU Economy
Germany's economy grew better than expected in the first quarter of 2012
Germany's economy, the biggest in Europe, grew better than expected in the first quarter 2012, driven by a surge in net exports, data released Tuesday shows.
May 15, 2012 - 8:33 AM
News
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EU Economy
Moody's downgrades credit ratings of 26 Italian banks; Spanish bond yields spreads over German Bunds hit a euro-era high
Moody's Investors Service announced on Monday that it had downgraded the credit ratings of 26 Italian banks, a move that coincides with fears about Greece's future in the euro system and the wobbly position of Spanish banks. Meanwhile, Spanish bond yields spreads over German Bunds hit a euro-era high.
May 15, 2012 - 6:38 AM
News
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EU Economy
Industrial production down by 0.3% in Eurozone in March 2012; Down by 0.4% in EU27
In the month of March 2012, seasonally adjusted industrial production fell by 0.3% in the Eurozone (EA17) and by 0.4% in the EU272. In February production rose by 0.8% and 0.4% respectively. In March 2012 compared with March 2011, industrial production dropped by 2.2% in the Eurozone and by 1.9% in the EU27. These estimates were released today by Eurostat, the statistical office of the European Union.
May 14, 2012 - 2:40 PM
News
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International
Markets: Yahoo replaces CEO for third time in as many years
Markets news on stock, currencies and commodities: Yahoo replaces CEO for third time in as many years.
May 14, 2012 - 9:45 AM
News
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Irish
Monday Newspaper Review - Irish Business News and International Stories - - May 14, 2012
Principal news stories from the Irish Independent, Irish Times and Irish Examiner.
May 14, 2012 - 8:57 AM
Analysis/Comment
Dr. Peter Morici: Europe’s single currency is a bust
Dr. Peter Morici: Europe’s single currency is a bust. With unemployment reaching depression levels in the Mediterranean states, time has long passed to negotiate an orderly return to national currencies.
May 14, 2012 - 7:18 AM
News
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Property
Irish construction activity declines at fastest pace since October 2011
Activity in the Irish construction sector decreased markedly in April as fragile client confidence led to a drop in new business. Falling workloads led to reductions in both employment and buying activity, and the rates of decline accelerated in each case. Meanwhile, confidence among constructors with regards to the year ahead fell markedly. The Ulster Bank Construction Purchasing Managers’ Index (PMI) - - a seasonally adjusted index designed to track changes in total construction activity - - fell to 45.4 in April, from 46.7 in March, to signal an acceleration in the rate of contraction in activity. Moreover, the fall in total activity was the sharpest since last October. Where activity decreased, panellists reported weak economic conditions and a lack of confidence among clients.
May 14, 2012 - 7:07 AM
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