Sunday 25 June 2017

Clients can control pension investments

Retirement

STANDARD Life has launched a personal retirement savings account (PRSA) with an option allowing clients to make their own decisions on where to invest their pension money.

The self-directed option allows investors to buy shares and government bonds on an execution-only basis. The Synergy PRSA accepts self-employed, employer and employee contributions including additional voluntary contributions.

Woodfit seals €1.5m Saudi college deal

Joinery

A WESTMEATH-based company has won a €1.5m contract to help build a university in Saudi Arabia. Woodfit, which employs 28 people in Athlone, is a specialist joinery company. Last year, it started a joint venture with Al Khalidia Hallstage, which specialises in fitting out buildings. They have won a contract linked to the construction of the Princess Noura University.

Google sues US over email contract

internet

GOOGLE is suing the US government, saying it was unfairly excluded from a $58m (€41m) deal to revamp email systems at the Department of the Interior. In a lawsuit filed with the US Court of Federal Claims, Google says the terms of the five-year contract rule out its products and favour rival Microsoft.

GM sets $10bn target for public offering

mOTORS

GENERAL Motors (GM) apparently aims to raise as much as $10.6bn (€7.5bn) in an initial public offering that will reduce the US and Canadian governments' stakes in the largest US carmaker. GM, 61pc owned by the US Treasury Department, will offer 365 million shares at $26 to $29 each, according to reports. The automaker will also offer $2bn to $3bn of preferred shares that later will become common stock.

Royal Mail chief delivers warning

Post

The new head of the Royal Mail has said the volumes of letters it handles could fall by a further 40pc over the next five years, having already declined by a fifth since 2005. The warning from chief executive Moya Greene came as Royal Mail reported a 70pc slump in profits.

Irish Independent

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