Independent.ie - Business RSS Feed

'Brave leap' necessary to save the euro, says Draghi

Fri, 25 May 2012 05:00:00 +0100

EUROPEAN Central Bank president Mario Draghi called on governments to take a "courageous leap" of political imagination to safeguard the future of the eurozone.

Seafood processing to generate 140 new jobs with €15.5m investment

Fri, 25 May 2012 08:55:28 +0100

MORE than 140 jobs will be created in the seafood processing industry.

Insurance firms 'not prepared for new reserves rules'

Fri, 25 May 2012 05:00:00 +0100

MANY Irish insurance firms are not prepared for new EU regulations in the sector, the Central Bank's director of insurance supervision warned yesterday.

NAMA faces challenges in clawing back €32bn toxic loans - watchdog

Fri, 25 May 2012 05:00:00 +0100

THE State's financial watchdog has questioned the value of hiring private detectives to trawl for developers' hidden assets, and warned that NAMA faces "considerable challenges" making back the €32bn it spent buying toxic property loans from banks.

Construction slump drove UK deeper into recession this year

Fri, 25 May 2012 05:00:00 +0100

A SLUMP in construction output drove the UK even deeper into recession than first thought in the first quarter of 2012, raising the chance that the Bank of England will inject more cash to prop up the faltering economy.

First quarter shipping volumes show decline

Fri, 25 May 2012 05:00:00 +0100

NEW figures on first quarter shipping volumes have revealed further evidence that the country's faltering export industry is in trouble as British demand for Irish food declines.

It's a good time to buy house, says report, even though prices could fall further 25pc

Thu, 24 May 2012 05:00:00 +0100

HOUSE prices could fall another 25pc, but despite this it is a good time for some people to buy, an analysis of the residential-property market from NCB Stockbrokers has found.

Builder Gannon shares €783,000 pay pot with two other directors

Fri, 25 May 2012 05:00:00 +0100

ONE of the country's best-known builders, Gerry Gannon, shared a pay pot of €783,135 with two other directors in 2009 as pre-tax losses at Gannon Homes soared.

Future of controversial company is bright, but still hangs on approval of US regulator

Fri, 25 May 2012 05:00:00 +0100

FOR a company that was once dogged by litigation and an accounting scandal, the future seems bright for Elan these days.

Dawn Meats to create 65 jobs after securing €300m McDonald's deal

Thu, 24 May 2012 05:00:00 +0100

DAWN Meats is to create 65 jobs in Waterford after the company agreed to supply three million burgers to McDonald's every day.

Hotelier Johnny Moran fails in court in alleged breach of rights in appointment of receiver

Thu, 24 May 2012 17:53:33 +0100

A NUMBER of companies of hotelier Johnny Moran have failed in their bid to ask a court to decide whether their property and equality rights were breached when the former Anglo Irish Bank appointed a receiver over hotels and restaurants they operated.

Barclays reject claims of 'conspiracy' over hotels

Fri, 25 May 2012 05:00:00 +0100

THE billionaire Barclay brothers have said they "deeply resent" allegations made by developer Paddy McKillen that they have been part of an unlawful conspiracy surrounding the ownership of three London hotels.

Debt crisis: EU summit fails to provide answers for eurozone

Thu, 24 May 2012 07:26:35 +0100

EUROPEAN Union leaders concluded their latest summit early on Thursday with few concrete steps to fix the continent's festering financial crisis even as the potential for a messy Greek exit from the euro appears to be rising. Some leaders stressed the importance of planning for just such an event but offered no measures that might help Greece avoid it.

Britvic to cap Irish pension benefits as sales disappoint

Fri, 25 May 2012 05:00:00 +0100

DRINKS company Britvic is to cap the amount of salary employees can contribute to the company's defined benefit pension scheme and introduce a range of cost-cutting measures to its Irish operation in an effort to shore up a business that has continued to struggle so far this year.

IMF head Christine Lagarde is a 'very seductive politician', says BBC's Robert Peston

Thu, 24 May 2012 11:09:39 +0100

ROBERT Peston, the BBC's business editor, admitted on air to being charmed by the "seductive" head of the IMF, Christine Lagarde.

Concern as euro sinks to two-year low against the dollar

Thu, 24 May 2012 05:00:00 +0100

EU leaders meet in Brussels as fears of Greek currency exit grow

Leicester Square shows off revamp by SIAC

Thu, 24 May 2012 05:00:00 +0100

An Irish company is rolling out the red carpet after overhauling one of London's most famous squares.

Exploration firm extends $30m loan

Fri, 25 May 2012 05:00:00 +0100

Limerick-based explorer Circle Oil extended a $30m (€23.8m) financing arrangement for three years. The loan with a subsidiary of Kuwait-based PetroLink Holding Company was due to mature in two months' time. The loan is convertible into ordinary shares. Circle added that PetroLink will also get options of 5pc of the current issued share capital at any time over the next three years.

Shell considers upping Cove bid

Fri, 25 May 2012 05:00:00 +0100

ROYAL Dutch Shell said yesterday it was considering its options regarding Cove Energy, the explorer run by Dubliner John Craven. Cove extended the deadline for shareholder acceptances after getting a higher bid from a Thai firm on Wednesday.

Hewlett-Packard to slash 27,000 jobs worldwide – no certainty on Ireland

Thu, 24 May 2012 08:45:28 +0100

HEWLETT-Packard is to slash 27,000 jobs, or 8pc of its global workforce by 2014, as chief executive Meg Whitman attempts to revive the fortunes of the world's largest PC maker.

US and Japan leading fragile global recovery of growth

Wed, 23 May 2012 05:00:00 +0100

THE United States and Japan are leading a fragile economic recovery among developed countries that could yet be blown off course if the eurozone fails to contain its flaring growth crisis, yesterday's OECD report concludes.

Siteserv sale to Millington gets OK

Wed, 23 May 2012 05:00:00 +0100

THE Competition Authority has approved the sale of Siteserv to the Denis O'Brien-controlled Millington. Siteserv said the proposed disposal was "classified by the Irish Competition Authority as a media merger". "Accordingly, as is the case with all transactions so classified and in compliance with the act, the Minister for Jobs, Enterprise and Innovation may, up to and including May 31, direct the Irish Competition Authority to carry out an investigation under the act in relation to the proposed disposal. Siteserv does not envisage that such an intervention will occur in this case".

M&S hit with first profit decline in three years

Wed, 23 May 2012 05:00:00 +0100

MARKS & Spencer has scaled back its growth plans after being hit with its first profit decline in three years.

NAMA to fund €13m Charlestown project

Wed, 23 May 2012 05:00:00 +0100

NAMA is funding the €13m extension of the Charlestown Shopping Centre in north Dublin, which is being undertaken by the Bailey brothers.

€2.8m tag on Dan Dooleys

Wed, 23 May 2012 05:00:00 +0100

THE Dooley family are selling their car rental premises in the high profile location on Westland Row, near Pearse Station in Dublin 2. It has a €2.8m price tag.

Buy or rent at Upper Mount Street

Wed, 23 May 2012 05:00:00 +0100

A Georgian office building at 26 Upper Mount Street, Dublin 2, is for sale with a €925,000 asking price for the freehold interest. The agents Quinn Agnew are also willing to consider letting the property at a rent of around €215 per sqm.

Fairview premises offers 7.4pc long-term yield

Wed, 16 May 2012 05:00:00 +0100

An investment property in Fairview, Dublin 3, is for sale with a €550,000 asking price which equates to a net initial yield of 7.4pc.

Furious Tribe take 5-year lease on Hume St offices

Wed, 23 May 2012 05:00:00 +0100

Dublin Georgianna may be about to receive a filip as basement offices near St Stephen's Green have been let just two weeks after being offered to the market.

€1.1m for 10 Fitzwilliam Square

Wed, 23 May 2012 05:00:00 +0100

Georgian offices at 10 Fitzwilliam Square have come to the market for €1.1m -- a fraction of what they would have fetched at the peak.

Family's joy as daughter buys back house taken over by bank

Wed, 23 May 2012 05:00:00 +0100

AN EMOTIONAL woman has bought back a house that had been repossessed by a lender from her brother -- for a quarter of the boom-era value.

Householders facing higher premiums for home insurance

Wed, 23 May 2012 05:00:00 +0100

HOMEOWNERS are set to pay more for insurance after new figures revealed a surprise hike in the cost of rebuilding a house.

End of free banking as Ulster to charge for account

Tue, 22 May 2012 05:00:00 +0100

Customers are facing a battle to get free banking -- as the last bank pulled the plug on its no-fee accounts.

Default fears grow as one-in-10 mortgage payments in arrears

Mon, 21 May 2012 05:00:00 +0100

THE prospect of a wave of mortgage defaults has increased with the news that one-in-10 home loans is in arrears.

How to keep your money safe as the Greek crisis gets scary

Sun, 20 May 2012 05:00:00 +0100

IT was a hell of a week last week, with eurozone mayhem really kicking off again. There's the ongoing Grexit worry, tumbling stock markets and stagnant GDP everywhere with Germany, Spain slowly revealing how many bodies are buried in its Caja property bank cellars...

Global demand for gold grows 16pc

Fri, 18 May 2012 11:05:36 +0100

GOLD demand grew 16pc over the past 12 months, with $59.7bn spent globally on the precious metal.

Google Android does not violate Oracle patents, jury decides

Thu, 24 May 2012 08:03:47 +0100

GOOGLE’S Android mobile platform has not infringed Oracle's patents, a California jury has decided, putting an indefinite hold on Oracle's quest for damages in a fight between the two Silicon Valley giants over smartphone technology.

Dell shares slump after Q2 forecast falls short of expectations

Thu, 24 May 2012 05:00:00 +0100

SHARES in Dell tumbled the most in more than three years after the computer company forecast fiscal second-quarter revenue that missed analysts' estimates.

Independent Digital announces record web traffic with 4m unique browsers

Mon, 14 May 2012 14:29:03 +0100

INDEPENDENT Digital and Independent.ie has recorded yet another record year, according to figures just published by ABC.

Hamish McRae: The cautionary tale of Facebook's public flotation

Wed, 23 May 2012 12:42:47 +0100

ANYONE who invested in Facebook will doubtless feel a little less friendly towards it than they did a couple of days ago. And I suppose if you are looking for symbolism, you could say the fact that Facebook shares fell by more than 10 per cent when they started trading was a signal that the social network bubble is about to burst.

Eugene Polley, inventor of the remote control, dies aged 96

Wed, 23 May 2012 07:52:52 +0100

EUGENE Polley, the inventor of the television remote control and the man hailed as the founding father of the modern couch potato, has died aged 96.

Facebook settles lawsuit with angry users

Wed, 23 May 2012 12:28:01 +0100

FACEBOOK has settled a lawsuit with five users who were angry about their profiles being used in adverts on the site.

Irish shares post mild recovery

Tue, 22 May 2012 05:00:00 +0100

IRISH shares rose yesterday as markets posted a mild recovery from last week's turmoil.

Global demand for gold grows 16pc

Fri, 18 May 2012 11:05:36 +0100

GOLD demand grew 16pc over the past 12 months, with $59.7bn spent globally on the precious metal.

Europe dives again on Greek fears

Fri, 18 May 2012 05:00:00 +0100

IT was another bloodbath on European markets yesterday as the Greek crisis, unsurprisingly, weighed heavily on investors. Ireland's ISEQ plunged nearly 2pc.

Shares fall to 2012 low after Greece calls new election

Wed, 16 May 2012 05:00:00 +0100

EUROPEAN shares closed at their lowest level since the start of the year, led by a fresh slide in eurozone banks, after attempts to form a government in Greece collapsed.

Greece's fortunes upset indices

Wed, 16 May 2012 05:00:00 +0100

GREECE continued to be the word in Europe where the nation once again played havoc with markets yesterday after news of fresh elections led to speculation that there is no alternative but for the country to exit the euro.

Gold loses year's gains as Europe crisis boosts dollar

Tue, 15 May 2012 05:00:00 +0100

GOLD erased its gains for this year in New York and London as concern that Europe's debt crisis is deepening strengthened the dollar and cut gold's appeal as an alternative asset. Other precious metals declined.

Webinars have much to offer in terms of reaching your customers

Thu, 03 May 2012 05:00:00 +0100

STAYING in touch with friends and family has never been easier with today's technology. And that means it's never been easier to stay in touch with your customers and get your message across to prospective buyers.

Sowing the seeds to help new firms grow

Mon, 30 Apr 2012 05:00:00 +0100

A €280,000 PRIZE fund is up for grabs for early stage and high growth companies in this year's InterTradeIreland All-island Seedcorn Business Competition.

Do your research to negotiate a better deal on your retail rental

Thu, 26 Apr 2012 05:00:00 +0100

Shop owners throughout Ireland are suffering as retail sales continue to slide.

Foreign banks lending less to SMEs – survey

Mon, 16 Apr 2012 11:36:34 +0100

LENDING to SMEs is much more concentrated with the market share of foreign lenders falling off since 2008, according to a new survey by the Central Bank.

New €150m in extra lending scheme for SMEs launched

Wed, 11 Apr 2012 11:53:55 +0100

THE Government has published the Credit Guarantee Bill designed to facilitate up to €150m in additional lending per annum for SMEs.

Shane O’Toole: Time to quit? How to sell your business and enjoy the good life

Fri, 20 Apr 2012 11:23:48 +0100

MANY business owners dream of the day that they can sell their company and have long holidays in the sun on the proceeds. While this does happen for some people, all too often even for very solid companies a buyer cannot be found or the price achieved well short of expectations because no exit plan has been put in place.

Surprise, surprise! Fox News viewers worst informed – study

Fri, 25 May 2012 07:41:09 +0100

FOX News viewers are less informed than those who watch other programmes, or no TV news at all, research has found.

Independent Digital announces record web traffic with 4m unique browsers

Mon, 14 May 2012 14:29:03 +0100

INDEPENDENT Digital and Independent.ie has recorded yet another record year, according to figures just published by ABC.

Demand for RTE chiefs to quit over Fr Kevin Reynolds libel fiasco

Wed, 23 May 2012 05:00:00 +0100

THE two top men at RTE came under severe pressure to resign yesterday when they appeared before an Oireachtas committee hearing into the Fr Kevin Reynolds libel fiasco.

UPC launches on-demand service including movies and access to RTE Player

Tue, 22 May 2012 13:23:59 +0100

TELECOMMUNICATIONS firm UPC is to launch a new on-demand service from Friday.

INM digital revenue up 17.6pc on 2011

Fri, 18 May 2012 08:12:20 +0100

INDEPENDENT News and Media digital revenue is up 17.6pc, but advertising revenue overall is down 5.3pc on the same period in 2011, according to an interim management statement today.

High Court injunction by INM executive adjourned until June

Tue, 15 May 2012 18:59:02 +0100

INJUNCTION proceedings brought by an executive with Independent News and Media plc (INM) seeking to prevent his dismissal were adjourned today.