Tuesday 27 September 2016

In brief

Published 26/05/2015 | 02:30

TWO-THIRDS of finance professionals in Ireland believe the UK will not leave the European Union, a survey has found.

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The study of 700 finance professionals by the Association of Chartered Certified Accountants found that 80pc believe that if Britain did withdraw, it would have a negative effect on Ireland and dent their own business.

Vodafone IPO

Vodafone is weighing an initial public offering (IPO) for its Indian business, the wireless carrier's biggest unit by customers, sources have said. Investment bank Rothschild is compiling a report about the benefits of a possible IPO, set to be delivered around August.

Vodafone will decide whether to proceed after that, and an IPO will also depend on market conditions.

UBS shutting unit

UBS Group is shutting its Australian wealth management unit, with senior employees offering to serve clients through a new company, sources have said.

UBS Wealth Management Australia head Mike Chisholm and senior client advisers are to form Crestone Wealth Management. The advisers account for about 80pc of the unit's revenue.

Vatican Bank profit

The Vatican bank said yesterday its profit soared by more than 20 times last year as it recovered from a trading loss and continued its reform process away from its scandal-hit past.

The bank, officially called the Institute for Religious Works, said it earned €69.3m in 2014, up from €2.9m in 2013.

Its net trading result jumped to €36.7m from a loss of €16.5m in 2013, when it lost money on investments and saw the value of its gold holdings drop. Profits were also boosted by a drop in operating costs.

Business course

Friday is the closing date for applications for the next intake of participants for the IGNITE Graduate Business Innovation Programme which gets under way this autumn.

The nine-month business incubation programme at University College Cork, aimed at nurturing, developing and strengthening entrepreneurial potential, wants recent graduates from any discipline, from any college with a viable business idea to apply.

Irish Independent

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