Business Irish

Saturday 10 December 2016

In brief: Manufacturing falls by 6pc in 12 months

Published 10/09/2011 | 05:00

ECONOMY: NEW figures from the Central Statistics Office (CSO) show that manufacturing production for the month of July was 6pc lower than this time last year.

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The CSO says the seasonally adjusted volume of industrial production for the three months from May to July fell by 0.3pc from the preceding three-month period. Bloxham economist Alan McQuaid described the figures as disappointing.

AIB's chief credit officer quits post

BANKING

AIB's chief credit officer Joe O'Connor is stepping down from the bank -- less than four months after his position was reaffirmed. A bank spokesman last night said Mr O'Connor had tendered his resignation after plans to restructure the credit division were confirmed.

McErlean lands top role at the CIB

APPOINTMENT

SOCIAL Protection Minister Joan Burton has appointed Eugene McErlean to the Citizens Information Board (CIB). Mr McErlean, who is a solicitor by profession, has a range of legal experience and has acted as a lawyer for the UK government, British Airways and the AIB Group. He also has extensive experience in the financial sector having served as AIB's head of group internal audit between 1997 and 2002.

Pension fears spark Aer Lingus price cut

AVIATION

Davy Stockbrokers has reduced its price target for Aer Lingus shares to €1 from €1.25 due to the uncertainty surrounding the massive deficit at the pension scheme for workers at the airline and at the Dublin Airport Authority. The forecast comes as the Government considers plans for the potential sale of its 25pc holding in the airline.

Irish Independent

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