Tuesday 22 August 2017

Euro falls to week low against dollar

THE euro fell to its weakest level for a week versus the dollar as investors speculated European policy makers won't be able to reach an agreement regarding Greece's debt obligations. Canada's dollar fell from a three-month high against its US counterpart after the nation's economy unexpectedly contracted in the fourth quarter. The dollar and yen pared earlier losses as stocks fell after consumer confidence and business activity in the US was weaker than forecast in January. The euro weakened against the majority of its most- traded peers as S&P's increased the number of Portuguese banks on "creditwatch negative."

Majority to watch Six Nations at home

SURVEY

A majority of Irish people will watch the forthcoming Six Nations games at home instead of the pub, according to a survey carried out by Empathy Research for 'Checkout' magazine. Some 62pc of the 1,003 people surveyed said they intended watching Ireland compete in this year's championships. Of those that said they were going to watch the tournament, 87pc said they would watch it 'at home' or 'at a friend's house', compared to 28pc who said they would watch it 'in the pub', and 10pc who would attend matches.

Santander's annual profits fall 35pc

FINANCE

SANTANDER has revealed a 35pc fall in annual profits after the group took extra provisions for deteriorating real estate assets in Spain. The bank announced a net profit of €5.35bn for 2011, down from €8.18bn in 2010. It said it had made a €1.8bn provision against property exposure in Spain and had written off €600m relating to its businesses in Portugal. Spain has struggled since its property bubble burst in 2008.

Exxon profits rise as production drops

OIL

The world's largest oil company, Exxon Mobil, has seen its profits rise due to the higher oil price, despite producing less oil. The oil giant said net profits for the three months to the end of December were up 2pc on the same period last year to $9.4bn (€7.3bn). However, the global oil producer said production fell by 9pc. Exxon shares were down 1.8pc shortly after open on the New York Stock Exchange.

Irish Independent

Also in Business