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Last Updated:
Feb 22, 2012 - 4:08 PM |
News
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US Economy
Existing US home sales rose in January; Distressed sales accounted for 35% of the market
Existing US home sales rose in January, marking three gains in the past four months, while inventories continued to improve, according to the National Association of Realtors. Distressed sales accounted for 35% of the market.
Feb 22, 2012 - 4:05 PM
News
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EU Economy
New industrial orders up by 1.9% in Eurozone in December
In the month of December 2011, the Eurozone (EA17) new industrial orders index rose by 1.9%, after a fall of 1.1% in November. In the EU27 new orders increased by 1.3% in December 2011, after a decrease of 1.2% in November. Excluding ships, railway & aerospace equipment, for which changes tend to be more volatile, industrial new orders gained 2.5% in the Eurozone and 2.6% in the EU27.
Feb 22, 2012 - 3:37 PM
News
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Irish
Irish Government agrees with EC-ECB-IMF troika on sale of State assets up to value of €3bn
The Irish Government has agreed with the EC-ECB-IMF troika on the sale of State assets up to a value of €3bn based on "the guiding principles that there will be no firesales. Integral transmissions and distribution systems will be retained in State ownership and full value will be derived for the State."
Feb 22, 2012 - 1:56 PM
News
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International
Markets: Obama to propose cut in US corporate tax rate
Markets news on stocks, currencies and commodities: Obama to propose cut in US corporate tax rate.
Feb 22, 2012 - 9:36 AM
News
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EU Economy
Eurozone business activity slips back into contraction in February; Output rose slightly in Germany and France
Eurozone business activity slipped back into contraction in February. Output rose slightly in Germany and France with manufacturing rising overall and services slipping.
Feb 22, 2012 - 9:07 AM
News
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International
Wednesday Newspaper Review - Irish Business News and International Stories - - February 22, 2012
Principal news stories from the Irish Times and Irish Examiner.
Feb 22, 2012 - 7:50 AM
Analysis/Comment
Germany and France push ahead of EU with tax harmonisation
On Tuesday, Germany and France announced new plans to bring together their business tax regimes as they progress their plans for full fiscal union. The aim will be to align their tax systems, starting in 2013. The proposals also support the recent Euro Plus Pact, which sets out the rules for future economic and fiscal co-ordination between the EU members, excluding the UK, Sweden, Czech Republic and Hungary which did not join the new treaty. One early potential change will be France cutting its main corporate tax rate.
Feb 22, 2012 - 7:04 AM
Asia Economy
China's manufacturing PMI improved marginally in February according to flash estimate
China's manufacturing PMI improved marginally in February, according to a flash estimate that was issued today.
Feb 22, 2012 - 6:51 AM
News
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Irish Economy
PayPal to create 1,000 jobs over the next four years in Dundalk; Four-digit new jobs announcements rare in recent years
PayPal, the global online payments company, owned eBay, and Taoiseach Enda Kenny TD today announced the creation of 1,000 jobs over the next four years at PayPal’s new European Operations Centre in Dundalk, Co Louth. The jobs are supported by Government through IDA Ireland. Four-digit new jobs announcements have been rare in recent years.
Feb 21, 2012 - 12:52 PM
News
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International
Markets: Kerry Group reports rise of almost 11% in 2011 profit
Markets news on stocks, currencies and commodities; Kerry Group reports rise of almost 11% in 2011 profit.
Feb 21, 2012 - 9:31 AM
News
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EU Economy
Eurozone finance ministers agree second bailout for Greece; Troika sustainability report says outlook is grim
Eurozone finance ministers agreed a second bailout for debt-stricken Greece in the early hours of Tuesday that will save the country from bankruptcy but according to a troika sustainability report, the outlook is grim.
Feb 21, 2012 - 8:28 AM
News
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International
Tuesday Newspaper Review - Irish Business News and International Stories - - February 21, 2012
Principal news stories from the Irish Times and Irish Examiner.
Feb 21, 2012 - 6:35 AM
News
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Property
NAMA says Sunday Independent story on Google jobs completely 'inaccurate and misleading'; Baseless claims increasing with enforcement
NAMA -- the National Asset Management Agency - said today that claims in The Sunday Independent yesterday that the agency could have cost 230 Google jobs that were being created in Dublin, were completely 'inaccurate and misleading.' The agency said as it increases the level of enforcement activity, it has observed the number of baseless claims and critical stories are increasing.
Feb 20, 2012 - 3:40 PM
News
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Irish Economy
Enterprise Ireland says Irish-owned indigenous firms responsible for 6.4% of Irish exports to China in 2011
Enterprise Ireland, the State enterprise agency responsible for promotion of indigenous enterprises, said today that Irish-owned firms were responsible for 6.4% of Irish exports to China in 2011.
Feb 20, 2012 - 1:57 PM
News
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International
Markets: Eurozone finance ministers meet in Brussels on Greek bailout; S&P affirms Japan’s AA sovereign debt rating with negative outlook
Markets news on stocks, currencies and commodities; Eurozone finance ministers will meet in Brussels on Greek bailout; S&P affirms Japan’s AA sovereign debt rating with negative outlook.
Feb 20, 2012 - 9:30 AM
Analysis/Comment
Proponents of a Eurozone exit for Greece underestimate devastating consequences
Country comparisons should be viewed with caution and are often used to support a fixed view while inconvenient information is ignored. Wittingly or unwittingly, proponents of a Eurozone exit for Greece underestimate the devastating consequences - - the risks are also high for Ireland given that it is the developed country that is more dependent on foreign-owned firms than any other.
Feb 20, 2012 - 8:10 AM
News
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Irish
Bank of Ireland reports loss before tax of €190m in 2011 - - boosted by non-recurring items
In the year ended 31 December 2011, Bank of Ireland reported a loss before tax of €190m compared to a loss before tax of €950m in 2010. BoI said the 2011 performance has been influenced by non-recurring items including the gains from forcing discounts on junior bondholders partly offset by losses on divestment of certain loan portfolios under its deleveraging plan.
Feb 20, 2012 - 7:19 AM
News
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International
Monday Newspaper Review - Irish Business News and International Stories - - February 20, 2012
Principal news stories from the Irish Times and Irish Examiner.
Feb 20, 2012 - 6:43 AM
News
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Irish Economy
Irish food and drink industry lobby group warn about sugar and packaging taxes
An Irish food and drink industry lobby group has warned about 'proposals emerging from parts of government, such as sugar and packaging taxes.'
Feb 20, 2012 - 3:27 AM
News
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Irish Economy
Ireland signs trade agreements with China; There is no El Dorado on the horizon
The Government on Sunday evening signed two agreements aimed at improving Ireland’s trade and business links with China. However, there is no El Dorado on the horizon.
Feb 20, 2012 - 12:29 AM
News
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Irish Economy
PwC Ireland's November 2011 published global survey, Irish taxes, tax havens and hubris
Big 4 account firm PwC Ireland, a unit of the global accounting group PricewaterhouseCoopers, has this week issued a statement on a November 2011 published global tax report, highlighting Ireland heading the ranking in Europe for ease of payment of taxes. However, comments on corporate taxes reveal a dangerous level of hubris regarding France when the main danger for Ireland's key low tax incentive for foreign direct investment (FDI) comes from the United States, which may well clamp down on significant tax haven activities.
Feb 17, 2012 - 3:47 PM
News
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Innovation
Cost of launching successful drug at average of $5.8bn for 12 big pharma companies in period 1997-2011
Despite a big rise in R&D (research and development) expenditures, the average cost of launching a successful drug is at a staggering $5.8bn - - for 12 big pharma companies in the period 1997-2011.
Feb 17, 2012 - 2:39 PM
News
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Irish Economy
Irish Mortgages: Accounts 90+ days in arrears or restructured amount to 107,708 - - 14% of total mortgages in issue
Irish Mortgages: The Central Bank today published the latest data on mortgage arrears, restructures and repossessions for the period ended December 2011. The figures show that 9.2% of private residential mortgage accounts are in arrears of over 90 days. Adding mortgages that are in arrears or restructured amounts to 107,708 - - 14% of total mortgages in issue.
Feb 17, 2012 - 2:32 PM
News
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International
Markets: Sarkozy says Socialist rival François Hollande "lies from morning to night"
Markets news on stocks, currencies and commodities; Sarkozy says Socialist rival François Hollande "lies from morning to night."
Feb 17, 2012 - 9:39 AM
News
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EU Economy
European Investment Bank funding for SMEs hit record in 2011; Loans for Irish projects were at €475m - - at €2.5bn in 2007/2011
European Investment Bank funding for small and medium-sized enterprises (SMEs) reached a record level in 2011 as the EU's bank, which was founded in 1958, said it remained firmly focused on its mandate to support the real economy. Loans to Ireland amounted to €475m in 2011 and at €2.5bn in 2007/2011.
Feb 17, 2012 - 8:35 AM
News
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International
Friday Newspaper Review - - Irish Business News - - February 17, 2012
Principal news stories from the Irish Times and Irish Examiner.
Feb 17, 2012 - 6:54 AM
News
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US Economy
US workers in new filing for jobless benefits at four-year low; Home construction rose in January
The number of US workers filing new applications for jobless benefits fell last week to the lowest level in almost four years, a strong signal of improvement in the jobs market. Meanwhile, home construction last month rose 1.5% to a seasonally adjusted annual rate of 699,000 from December, the Census Bureau said Thursday.
Feb 16, 2012 - 4:11 PM
News
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Irish Economy
The impact of pharmaceutical product patent expirations on Irish exports
The latest CSO (Central Statistics Office) external trade figures have caused a bit of a stir. Seasonally adjusted Irish merchandise exports decreased by 9% in December 2011. According to the CSO, “a substantial part of the decline in the value of exports was due to a high value product in the Chemical and Related Products Sector (pharmaceutical products) coming off patent in December”. I guess this involves Pfizer’s Lipitor anti-cholesterol product that came off patent in the first week of December 2011. A decline in exports of about €750m is substantial. It is unclear how much of this is due to the Lipitor effect, but if only half was due to Lipitor, this would translate in a decline of €4.5bn on an annual basis.
Feb 16, 2012 - 1:16 PM
News
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International
Markets: Société Générale reports profit plunge - - €890m to cover Greek exposure; Moody's reviewing 114 European banks for downgrades
Markets news on stocks, currencies and commodities; Société Générale reports profit plunge - - €890m to cover its Greek exposure; Moody's reviewing 114 European banks for downgrades.
Feb 16, 2012 - 9:50 AM
News
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Irish Economy
Central Bank survey shows 70% of loans to Irish SMEs at end of 2010 were performing
The Central Bank of Ireland today published new economic research entitled 'The Irish SME Lending Market ¡V A Snapshot, December 2010, which shows that 70% of loans to Irish SMEs (small and medium sized businesses) were performing at the end of 2010. The Central Bank says that 18% were on a watch-list or were past due, while 12% were impaired.
Feb 16, 2012 - 9:04 AM
News
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Irish Economy
Tax Havens: Ireland is Europe's top corporate tax haven - - Part 3
Tax Havens: Ireland is Europe's top corporate tax haven followed by Switzerland.
Feb 16, 2012 - 8:41 AM
News
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Global Economy
Fund managers showing renewed confidence in global equities
Investors are showing renewed confidence in global equities amid radically improved market conditions and growing hopes of economic growth, according to the BofA Merrill Lynch Survey of Fund Managers for February.
Feb 16, 2012 - 8:21 AM
News
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International
Thursday Newspaper Review - Irish Business News and International Stories - - February 16, 2012
Principal news stories from the Irish Times and Irish Examiner.
Feb 16, 2012 - 6:50 AM
News
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US Economy
US industrial production was unchanged in January
US industrial production was unchanged in January, as a gain of 0.7% in manufacturing was offset by declines in mining and utilities, the Federal Reserve reported today.
Feb 15, 2012 - 2:27 PM
News
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UK Economy
UK likely to avoid recession in 2012 Bank of England says; Unemployment rises to 8.4%
The UK is likely to avoid recession in 2012 as recent industry surveys signal renewed economic growth, the Bank of England said today. Also today, the Office for National Statistics (ONS) reported that the unemployment rate for the three months to December 2011 was 8.4% of the economically active population, up 0.1 on the quarter. The unemployment rate was last higher in the three months to November 1995.
Feb 15, 2012 - 1:50 PM
News
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Irish Economy
Irish merchandise exports fell by 9% in December; Pharmaceutical patent expirations was a factor
From a November high of €8.25bn, seasonally adjusted Irish merchandise exports fell by 9% to €7.50bn in December. Imports increased by 8% to €4.02bn, resulting in a 23% decrease in the seasonally adjusted trade surplus to €3.48bn. The Central Statistics Office said a substantial part of the decline in the value of exports was due to a high value product in the pharmaceutical sector coming off patent in December.
Feb 15, 2012 - 1:13 PM
News
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EU Economy
Eurozone and EU27 GDP down by 0.3% in fourth quarter of 2011
GDP (gross domestic product) fell by 0.3% in both the Eurozone (EA17) and the EU27 during the fourth quarter of 2011, compared with the previous quarter, according to flash estimates published today by Eurostat, the statistics office of the European Union. In the third quarter of 2011, growth rates were +0.1% and +0.3% respectively.
Feb 15, 2012 - 10:29 AM
News
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International
Markets: Greek leaders delay signing commitments on reforms; Officials in Germany, Netherlands and Finland support default
Markets news on stocks, currencies and commodities: Greek leaders delay signing commitments on reforms; Officials in Germany, Netherlands and Finland support default.
Feb 15, 2012 - 9:16 AM
News
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International
Wednesday Newspaper Review - Irish Business News and International Stories - - February 15, 2012
Principal news stories from the Irish Times and Irish Examiner.
Feb 15, 2012 - 7:59 AM
News
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EU Economy
German GDP dipped 0.2% in Q4 2011; French GDP grew 0.2% in the quarter
The German economy suffered a slight dip at the end of 2011: compared with the previous quarter, the gross domestic product (GDP) decreased by 0.2% in the fourth quarter of 2011 after adjustment for price, seasonal and calendar variations. Destatis, the federal statistics office said the German economy grew by 3.0% (in calendar-adjusted terms: 3.1%) over the entire year of 2011. This is in line with the first calculation of January this year. In Q4 2011, French GDP increased by +0.2% after +0.3% the previous quarter. Over the year, GDP increased by 1.7% (after +1.4% in 2010).
Feb 15, 2012 - 7:55 AM
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