Thursday 23 February 2017

11890 service calls in loss of €3.5m

MEDIA

DIRECTORY enquiries service 11890 booked annual losses of €3.5m immediately before it vowed to create one new job for every extra 500 calls it took. The losses, to the year ended April 2009, are revealed in accounts just filed for 'Call 11890 Ltd'. The 2009 result followed a loss of €4.8m the previous year, and left the company with a shareholders' deficit of more than €8.6m.

Outsourcing used to control costs

report

A large number of Irish businesses are using outsourcing as a means of controlling costs, a new report into the practice by financial services firm Mazars has shown. The report just published by the group found that over 80pc of businesses that outsource have either maintained or increased their use of outsourcing in the past year.

Farmers' concern over Glanbia sale

FOOD

A group of farmers have contacted the Irish Stock Exchange to express concern about Glanbia's prospective sale of its Irish business to the Glanbia co-op. The farmers are understood to be concerned about a potential conflict of interest on Glanbia's board, which includes 14 co-op directors in its total 18. While not commenting on the specific case, a spokeswoman for the stock exchange said normal exchange rules clearly addressed conflict of interest issues.

Dollar plummets to one-month low

CURRENCIES

The dollar dropped to a one-month low against the euro and a two-week trough versus sterling yesterday, as investors pared back large bearish bets on the two European currencies following strong eurozone economic data.

Confidence drop sparks oil decline

CRUDE

Crude oil declined for the first time in three days after a report showed that confidence among US consumers unexpectedly dropped this month. Oil fell as much as 1.9pc as the Reuters/University of Michigan preliminary consumer sentiment index dropped to 72.5 from February's reading of 73.6. A gain to 74 was forecast. Prearranged orders to sell oil at specific prices, known as stops, may have been triggered as oil declined.

Irish Independent

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