Business World

Monday 1 May 2017

Business briefs: Sugar's profits slashed to €4.7m

BBC's 'Apprentice' TV show host Alan Sugar saw profits at his Amshold Group slashed last year from €78.9m to €4.7m. Its business interests include Tottenham Hotspur FC, property trading, aircraft chartering and management services.

In the year to June 30, 2009, the value of Amshold's properties fell by £65m (€73.8m) to £253.7m, (€281m). Nevertheless, the group said that it had "long-term faith in the property market".

Marsh puts €5m into Irish branch

CONSULTANCY

INSURANCE consultants Marsh put another €5m into their Irish subsidiary just before Christmas, according to filings just lodged with the Companies' Office. The move came six months after Marsh said it was cutting up to 20 jobs from its Dublin base as some functions were transferred to the UK.

Investors 'should sell euro' -- UBS

Currency

Investors should sell the euro against the UK pound as concern about the financial situation in Greece damps demand for the 16-nation currency and a recovering UK economy boosts sterling, UBS said yesterday. The bank also recommended that clients sell the Australian currency against that of New Zealand on expectations that the Reserve Bank of Australia will pause after raising interest rates at its next meeting. (Bloomberg)

Apple poised to unveil new device

TECHNOLOGY

Apple will host a product event on January 27, giving CEO Steve Jobs a chance to unveil a long-rumoured touch-screen tablet device for surfing the net and playing movies and music. The company sent out invitations yesterday to an event in San Francisco, asking reporters to "come see our latest creation". (Bloomberg)

China attracts hot money of $48.7bn

MONEY FLOWS

China attracted a total of $48.7bn (€33.8bn) of "hot money" in December, the largest amount in eight months, according to China International Capital. The nation's foreign-exchange reserves rose $10bn last month, the smallest increase since November 2008, according to central bank data. The slower growth reflects adjustments in the values of euro-denominated assets and US Treasuries. (Bloomberg)

Irish Independent

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