One of the heads at Allied Irish Banks backdated important documents amid fears that they had been the victims of a £750m (€930m) con, a court in London heard yesterday. Stuart Muldowney, who worked in Allied Irish Bank's property team, was said to have backdated notes relating to transactions between AIB and Achilleas Kallakis and Alexander Williams, both of whom are on trial for fraud. He was said by Mr Kallakis's lawyer to have written a memo detailing a crucial meeting with a representative of Mr Kallakis's and Mr Williams's alleged guarantor SHKP, Jonathan Lee, in September 2008, 18 months after it had taken place. However, Mr Williams insists that the note of the meeting with Mr Lee was not written in a way that suggested it had been taken at the time.
Fleetmatics floats on NY exchange
Dublin-based transport technology firm Fleetmatics has successfully floated on the New York Stock Exchange after pricing its stock at $17 (€13) per share -- the high end of expectations. It's the first US flotation of an Ireland-based tech company in more than a decade. Shares soared after the opening to more than $23.
Manufacturing output up 0.2pc
Manufacturing output rose 0.2pc year-on-year in August as multinationals boosted production, the Central Statistics Office said yesterday. In the three-month period June to August, manufacturing output was up 1.8pc on the preceding three-month period. On an annual basis, production was 0.2pc higher year-on-year in August, the sixth consecutive annual rise. In the first eight months of 2012, output was 2.2pc higher on average than the same period last year.
Gaelectric to build two NI wind farms
Gaelectric Holdings, a Dublin-based project developer, won planning approval to build two wind farms in Northern Ireland. The farms will be built in Smulgedon and Monnaboy.
Irish have second shortest work week
The Irish had the second shortest working week of 27 European Union countries last year, Eurostat said yesterday. A survey showed that Irish employees worked an average of 38.4 hours. Only the Danes worked less. The European average was 40.4 hours.