Article | May 20, 2012 - 9:39pm
The examiner appointed to the Eircom group of companies has accepted a proposal from senior lenders to take control of the company.
The examiner appointed to the Eircom group of companies has accepted a proposal from senior lenders to take control of the company.
In a statement Michael McAteer, of Grant Thornton, the court appointed examiner said that he had recommended accepting the offer from the senior lenders to a meeting of the creditors.
The company entered the examiner-ship process with debts of over €3.75 billion. The examiner said that he hoped that this announcement would allow the Eircom group of companies to successfully exit the examiner-ship process.
Blog entry | May 20, 2012 - 10:34pm
The election of Francois Hollande as French president, as well as being a big political story, is a big economic one; one propeller of the twin engine of the European Union and its single currency has been replaced, the other, German Chancellor, appears to be stuttering. After recent electoral setbacks, the chancellor looks politically vulnerable ahead of next year’s federal elections, and as more and more under pressure to ease-up on the rhetoric of austerity, as leaders and politicians around Europe take the cue from Hollande and start talking growth.
Article | May 15, 2012 - 1:58pm
The World Wild Fund for Nature (WWF), an international NGO conceived in 1961, published today its ‘Living planet’ 2012 report. The study is released every two years and examines the planet condition.
Article | May 14, 2012 - 11:59am
Ireland is likely to vote yes to a referendum on the fiscal compact, according to the latest polls, but a significant number of undecided voters mean that the government parties, which support the treaty, cannot afford to be complacent over the next two weeks.
According to a Red C/Sunday Business Times poll, the yes side is standing at 53%, which is a 6 point rise, with the no side at 31%. About 16% are undecided.
Blog entry | May 13, 2012 - 11:27pm
Ladbrokes and William Hill have apparently stopped taking bets on Greece withdrawing from the single European currency. According to the bookmakers, it is an inevitability, a racing certainty. If it does indeed happen, and, despite the bookies fervour, it is not inevitable, it will be a severe blow to the European project, and a heartening event for its detractors. But you will Europe react to this would-be devastating setback to the ongoing process of transnational integration?
Article | May 13, 2012 - 11:03pm
The Government has announced plans to separate Shannon Airport from the Dublin Airport Authority, and bring it together with Shannon Development into a single entity, RTE Ireland reported on 9 May.
The Government has announced plans to separate Shannon Airport from the Dublin Airport Authority, and bring it together with Shannon Development into a single entity, RTE Ireland reported on 9 May. The new body will have a commercial mandate in public ownership. The tourism and enterprise support agencies in the region will also be restructured to support the new arrangement.
Article | May 13, 2012 - 10:57pm
United Drug has reported a 7% increase in pre-tax profits for the six months to the end of March, while revenues were flat at €894.2 million, RTE Ireland reported.
United Drug has reported a 7% increase in pre-tax profits for the six months to the end of March, while revenues were flat at €894.2 million, RTE Ireland reported.
The company said that its adjusted pre-tax profits for the six month period came in at €35 million, while operating profits also rose by 7% to € 9.5 million.
United Drug said that its businesses outside of Ireland now account for over 70% of operating profits with 25% of the group operating profits generated in the US.
Article | May 11, 2012 - 10:35am
Article | May 6, 2012 - 10:33pm
Food group Kerry has said that all its businesses continue to perform ''satisfactorily'' in the first quarter of 2012, RTE Ireland reported.
Food group Kerry has said that all its businesses continue to perform ''satisfactorily'' in the first quarter of 2012, RTE Ireland reported.
The good performance came despite what it called the more challenging trading conditions in developed markets.
In a trading update issued for its AGM, the group said that developing markets continue to provide good opportunities for growth and business development.
Article | May 2, 2012 - 2:23pm
Jean Claude Juncker, the president of Eurogroup, speaking in an interview on 2 May, strongly criticised Germany and France for their policies to counter the Eurozone's debt crisis.
Jean Claude Juncker, the president of Eurogroup, speaking in an interview on 2 May, strongly criticised Germany and France for their policies to counter the Eurozone's debt crisis, but he said that the German minister of Finance, Wolfgang Schaeuble is the best choice to succeed him at the head of the 17 ministers of Finance group, next month when he resigns this post.
Article | May 2, 2012 - 4:26pm
As the saying goes, the only certain things in life are death and taxes. For Apple, Inc., though, it has been able to sidestep these certainties: having circumvented corporate death in the 1980s, now it is doing the same with corporate taxes.
It has recently been revealed that the company uses a tricky but legal method to eschew the payment of billions of dollars in tax every year. A report was published by the New York Times that stated that the company uses subsidiaries in Ireland, the Netherlands and other low-tax nations to cut back on its global tax bill.
Blog entry | April 29, 2012 - 10:18pm
After two days of meetings and bilateral negotiations, politicians and central bankers in the Spring joint conferences of the International Monetary Fund and the World Bank concluded that all their efforts to save the Eurozone and the world from the worst will be tested in the market, over the coming weeks and months.
Article | April 23, 2012 - 12:06pm
After two days of meetings, politicians and central bankers attending the Spring joint conferences of the International Monetary Fund and the World Bank concluded that all their efforts to save the Eurozone will be tested in the market.
After two days of meetings and bilateral negotiations, politicians and central bankers in the Spring joint conferences of the International Monetary Fund and the World Bank concluded that all their efforts to save the Eurozone and the world from the worst will be tested in the market, over the coming weeks and months.
Article | April 22, 2012 - 10:04pm
The government is to give Bord Gais Eireann the responsibility for setting up Irish Water, the body that will oversee the roll out of metering, RTE Ireland reported.
The government is to give Bord Gais Eireann the responsibility for setting up Irish Water, the body that will oversee the roll out of metering, RTE Ireland reported. The Minister for the Environment, Phil Hogan said there would be no bills until 2014 and the cost of installation would be paid by householders through an annual standing charge.
Article | April 19, 2012 - 12:21pm
9. Bhutan
In the 1990s the Bhutanese leaders decided that the GNH didn’t apply to one of its large minority groups, the Lhotshampas. The Lhotshampas are ethnically Nepalese people who have been in Bhutan for generations, and were promptly ethnically cleansed from Bhutan territory. At the point of a gun, over a hundred thousand people were forced from their homes that they had lived in for hundreds of years into refugee camps and poverty in Nepal and India.
8. Switzerland
Blog entry | April 15, 2012 - 8:45pm
It seems that a general election is the worst enemy for any country’s economic rehabilitation programme after a crisis, like the one Greece is applying now, on instructions from the European Union, the European Central Bank and the International Monetary Fund (this is the famous Memorandum of Understanding between Athens and the troika of EU-ECB-IMF).
It seems that a general election is the worst enemy for any country’s economic rehabilitation programme after a crisis, like the one Greece is applying now, on instructions from the European Union, the European Central Bank and the International Monetary Fund (this is the famous Memorandum of Understanding between Athens and the troika of EU-ECB-IMF).
Article | April 9, 2012 - 1:43pm
It seems that a general election is the worst enemy for any country’s economic rehabilitation programme, like the one Greece is applying now, on instructions from the European Union and the International Monetary Fund (this is the famous Memorandum of Understanding between Athens and the troika of EU-ECB-IMF).
Article | April 8, 2012 - 9:01pm
Permanent TSB has reported an annual loss of €424 million, RTE Ireland reported.
The bank set aside €1.4 billion to provide for losses on mortgage loans - which were more than three times higher than in 2010.
Permanent TSB has reported an annual loss of €424 million, RTE Ireland reported.
The bank set aside €1.4 billion to provide for losses on mortgage loans - which were more than three times higher than in 2010.
The bank had issued a statement in February warning about the record losses. Chairman Alan Cook said the group’s performance reflected the “difficult economic environment” and rising impairment charges in its Irish mortgage book.
Article | April 4, 2012 - 3:40pm
Capital markets and European Commissioner Ollie Rehn aired similar warnings today, Wednesday 4 April over the Eurozone’s sovereign debt problem.
Capital markets and European Commissioner Ollie Rehn aired similar warnings today, Wednesday 4 April over the Eurozone’s sovereign debt problem. In detail, Madrid was forced to pay higher interest rates for an issue of government bonds, while Rehn speaking from his home city, Helsinki, said that the Eurozone member states should be prepared to help Portugal with a ‘bridge’ loan when the country is programmed to return to capital markets in 2013, but will not be quite ready for this.
Article | April 1, 2012 - 7:50pm
Continental Farmers Group has reported pre-tax profits of €3.1 million for the year to the end of December, up 19% on the €2.6 million reported in 2010, RTE Ireland reported on 27 March.
Continental Farmers Group has reported pre-tax profits of €3.1 million for the year to the end of December, up 19% on the €2.6 million reported in 2010, RTE Ireland reported on 27 March.
Group revenues also rose by 19% to €25 million, which the company said reflected the positive backdrop to primary food production and a major crop expansion by the group.
Article | March 29, 2012 - 2:37pm
The Eurozone is set to decide the overall amount it is willing to set aside for a financial firewall
This weekend, the Eurozone is set to decide the overall amount its 17 member states, mainly Germany, are willing to set aside for a financial firewall to protect the money zone, from its present and future sovereign debt problems.
Article | March 26, 2012 - 4:10pm
There is converging information from Brussels and Berlin that the Eurozone has put in place a €700 billion firewall to protect itself from additional sovereign debt problems.
There is converging information from Brussels and Berlin that the Eurozone has put in place a €700 billion firewall to protect itself from additional sovereign debt problems.
Article | March 25, 2012 - 8:25pm
CPL Resources has bought European Human Resources, which provides recruitment services for companies within the Scandinavian market, RTE Ireland reported.
CPL Resources has bought European Human Resources, which provides recruitment services for companies within the Scandinavian market, RTE Ireland reported.
The company said the deal represents a further step in its strategy of extending the group's international footprint.
The company did not disclose the value of the deal.
"This partnership allows us deliver on our strategy to replicate our existing business model in new geographies," commented the company's chief executive Anne Heraty.
