APN 'is on the road to recovery'
Published 01/05/2010 | 05:00
APN, Independent News and Media's Australian associate, has said it expects trading to improve this year and chairman Gavin O'Reilly also reiterated IN&M's commitment to its stake in the group. Mr O' Reilly told shareholders at the company's annual general meeting in Sydney yesterday that the group was well placed to take advantage of a recovery in the markets in which it operates.
BoI staff vote for pension reform
Bank of Ireland's members of its defined benefit pension scheme have voted by a "significant majority" in favour of reforms aimed at reining in its €1.6bn deficit, according to the IBOA finance union. BoI said this contributes "significantly to resolving our outstanding pensions issue and the company's recovery".
IFG trading in line with expectations
IFG Group said in its annual report that trading in local currency terms was "in line with expectations", as the financial services company revealed its chief executive, Mark Bourke's, pay package came to €596,000 for 2009. The board is confident about its 2010 prospects despite difficult economic conditions, it said.
BA staff to vote on more strike action
BRITISH Airways cabin crew are being balloted on more strike action after failing to settle its dispute over pay and conditions with the airline. Strikes by the 10,000 strong cabin crew staff cost the airline seven days in March and is estimated to have cost the airline €51.7m to date. Balloting will conclude on May 7.
Goldman Sachs stock downgraded
GOLDMAN Sachs, the investment banking behemoth, was under more pressure last night after reports on Thursday that federal prosecutors had opened an investigation into trading at Goldman, raising the possibility of criminal charges. The firm's stock was downgraded yesterday by Standard and Poor's to sell from hold and investors responded by sending the stock down about 8pc, contributing to an overall decline in shares on Wall Street. By lunch time in New York, Goldman was trading at $145 (€109) a share, down $15 (€11.28) on its opening price.