Business Irish

Friday 24 March 2017

INM's business has 'stabilised'

MEDIA

Independent News & Media Plc's business has "stabilised", Denis O'Brien, the company's biggest shareholder said yesterday.

In an interview on Bloomberg Television's 'In Business With Margaret Brennan', Mr O'Brien said, "It has a few little things to do, things that it needs to take care of, but hopefully the business can come back into growth."

IT firm forges export alliance

OUTSOURCING

IRISH-owned outsourcing company, IT Alliance, which employs some 400 people, has won a number of export deals in continental Europe. The contracts, valued at €750,000, are for optimising and supporting two data centres in France and Denmark. The company recorded revenues last year of about €20m.

La Brea bread prices rise to top

BAKERY

A DIVISION of the Irish-led bakery giant Aryzta comfortably beat the market in bakery sales in the US over the last year. In what was described as one of the worst periods in decades for bread pricing in the US, Aryzta's La Brea artisan-style bakery recorded a unit price rise of 0.3pc. Overall, unit bread prices in US supermarkets declined by 3pc year-on-year in the 52 weeks to August 8.

Blockbuster files for bankruptcy

VIDEOS

AILING US video rental company Blockbuster said yesterday that it has filed for bankruptcy protection while it tries to restructure its business to focus on digital distribution. The company said it reached agreement with a group of creditors on a plan to bolster its financial position as it tries to turn around its business. Blockbuster's European operations are not affected by the filing.

New home loan approvals fall 7pc

HOUSING

APPROVALS of new home loans fell by more than 7pc last month to 31,767 as potential buyers held back amid fears of a renewed economic downturn. The number of new mortgage deals hit a 16-month low in August, the British Bankers' Association said, with the average value of home loan approvals dropping to £143,500 (€169,000) from £148,500 a month earlier. Economists suggested that the looming austerity programme could inhibit potential purchasers.

Irish Independent

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