Business World

Friday 19 September 2014

Business brief: Consumer confidence highest since 2007

Published 23/07/2014 | 02:30

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Consumer confidence climbed between April and June to 97 points
Consumer confidence climbed between April and June to 97 points

MORE than half of the world's consumers expect job prospects to be good to excellent in the year ahead, a survey showed.

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Consumer confidence also climbed between April and June to 97 points, its highest since early 2007, information and insights company Nielsen said.

Ireland remained stable at 81, while India (128) overtook Indonesia as the most optimistic consumer market, and Portugal (48) and Slovenia were the most pessimistic.

More iPhones on order

Apple has asked suppliers to manufacture between 70 million and 80 million of its two planned large-screen iPhones by the end of the 
year.

Forecast demand or the iPhones, with 4.7-inch and 5.5-inch displays, is for more than the initial order last year of between 50 million and 60 million for iPhone 5S and 5C models, sources said.

China food scandal

The latest food scandal in China is spreading fast, dragging in US coffee chain Starbucks and Burger King as well as McDonald's products as far away as Japan.

McDonald's and KFC's parent company, Yum Brands, apologised to Chinese customers after it emerged that Shanghai Husi, a unit of US-based OSI, had supplied expired meat to the two chains.

Starbucks said some of its cafes previously sold products containing chicken originally sourced from Shanghai Husi, which has been shut down by local regulator. Burger King has also removed it products from its shelves.

Fears for Allergan jobs

BOTOX-maker Allergan has announced plans to cut 1,500 of its workforce worldwide.

The firm, which employs 900 people in Westport and 50 in Dublin, is fighting a hostile takeover by Valeant.

"In light of the overall restructuring announcement made by Allergan, local management in Ireland have confirmed that the headcount impact for the Irish business will be negligible," a spokeswoman said.

Citywest sale

A LEGAL dispute over the sale of the Citywest hotel, conference centre and golf course development in Dublin has been settled.

Martin Ferris, a Bank of Scotland (Ireland)-appointed receiver of certain Citywest assets had previously sued CW Hotel Investments 2013 Ltd, Westland Square, Dublin, over an alleged failure to complete the €28m purchase of the complex.

Irish Independent

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