independent

Wednesday 16 April 2014

Port competition under scrutiny

The Competition Authority has launched a public consultation as part of its study of competition in the Irish ports sector, following a request by Jobs Minister Richard Bruton. The purpose is to verify the authority's initial analysis of how competition in the ports sector is working and identify issues for further exploration.

The state body has said competition between Ireland's ports appears to be limited, and Dublin Port has a strong market position, which highlights the need for effective competition within Dublin Port.

Shannon workers warn DAA on move

SIPTU members at Shannon Airport have voted in favour of industrial action if their terms and conditions are changed by the planned transfer of staff to a new Shannon Airport Authority next month.

Organiser Tony Carroll said: "We are calling on the Dublin Airport Authority and the Department of Transport, Tourism and Sport to give their written assurances to the 220 SIPTU members, and their representatives, before the planned transfer takes place. Failure to secure these written assurances will trigger industrial action."

US industry spikes after Sandy slump

Industrial production in the US jumped in November by the most in two years as manufacturers began to rebound from the damage inflicted by superstorm Sandy.

Output at factories, mines and utilities increased 1.1pc last month, the most since December 2010, after a 0.7pc drop in October that was larger than previously estimated, the Federal Reserve reported.

Italian debt hits new record level

Italy's debt load, the second biggest in the euro area, rose in October to a record €2.015 trillion from €1.995 trillion last month, the Bank of Italy reported yesterday.

The debt is set to reach 126.5pc of gross domestic product (GDP) this year, second only to Greece, and peak at 127.6pc next year before beginning to decline, the European Commission forecast last month.

Dollar loses value as US prices drop

The dollar fell from a near nine-month high against the yen and dropped for the fifth straight day against the euro yesterday after a US report on inflation showed prices fell in November for the first time in six months, which should allow the Federal Reserve to stay on its ultra-easy monetary policy path.

A sharp decline in petrol prices offset other rises.

Irish Independent

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