Thursday 21 September 2017

Retailers warned of credit card scam

Photo: Thinkstock
Photo: Thinkstock

THE Irish Payments Services Organisation has warned retailers about a scam. It involves a person phoning shops and pretending to be an engineer from their credit card payment processor.

He asks staff to put through some refunds to a "dummy" card. The shop assistant puts through the refunds and are told by the caller to dispose of the receipts. Individual shops have reported losing up to €14,000.

Ten-year bunds sell with 1.31pc interest

BONDS

GERMANY yesterday paid an average rate of 1.31pc at an auction of 10-year bonds, or bunds, down from 1.52pc in June, according to the German Finance Agency, which organised the auction. "In a still very tense market envir-onment, the search for quality was the decisive factor" for the low rate. Demand was solid, with investors bidding €6.391bn, with only €4.153bn allotted, with the cover ratio rising to 1.5 from 1.4 in June.

Allied Irish treasurer retires after 32 years

BANKING

Allied Irish Banks group treasurer Eamonn Hackett is to retire after 32 years with the lender. "His considerable knowledge and experience of treasury has been extremely valuable to AIB, both in growing the treasury business and in dealing with the major challenges the bank has faced," said a spokeswoman.

Dairy Board buys Cheese Warehouse

acquisitions

THE Irish Dairy Board has bought British-based The Cheese Warehouse for an undisclosed sum. The company, based in North Shropshire, custom-formulates a range of cheese solutions for both food service and manufacturers. It reported turnover of €38m for the year ending February.

German inflation at lowest in two years

PRICES

INFlATION in Germany hit its lowest since December 2010 in June, helped by softer energy pressures. Prices rose by 1.7pc last month compared to the same period in 2011, the federal statistic office Destatis said, well below the European Central Bank's target of "close to, but below 2pc".

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