In brief: Ryanair ends route after discounts axed
RYANAIR is axing its Aberdeen-Dublin service after airport owner BAA said it would not continue to offer big discounts to the low-cost carrier at the Scottish airport. The service will finish on October 29.
NAMA reveals plan for Northern assets
BRIEFING
SENIOR executives from NAMA have briefed the Northern Ireland Assembly and Business Trust (NIABT) in Stormont on the agency's plans for its Northern assets. NAMA's head of risk Ronnie Hanna told members of the NIABT that loans originating from Northern Ireland accounted for just 5pc of the value of NAMA's total loan portfolio and that the agency would seek to help stabilise the market, generate transactions, provide liquidity and encourage phased asset disposals.
Decision due in Eircom debt vote
TELECOMS
EIRCOM will find out today whether its lenders have agreed to relax the conditions attached to €2.75bn of senior debt. Results of a vote on a "covenant waiver" are due to be announced after 200 ballots are counted. Eircom needs two-thirds of the lenders to back the plan to continue to trade over the next three months without breaching the loan contracts.
IBI urges an end to state funds for RTE
MEDIA
THE Independent Broadcasters of Ireland (IBI) has outlined its opposition to the key areas of the Broadcasting Authority Ireland's Broadcasting Services Strategy and urged the Government to review state funding for RTE. IBI chairman Scott Williams said: "RTE Radio currently exists under a public-service mandate and receives direct funding from every household in the state. Last year, RTE Radio raised more than €31m in commercial advertising revenue. This dual funding is not only against the spirit of the mandate but is also grossly anti-competitive."
Oil falls as investors shun market risks
CRUDE
Oil fell by about $1 (73c) yesterday with a stronger dollar as investors shunned commodity risk because of Europe's deepening sovereign debt crisis. Brent crude fell as much as 97 cents to $111.80 a barrel. US crude slid 87 cents to $86.37.
Irish Independent
