Sunday 4 December 2016

Gaelectric gets the nod for wind farm

ENERGY

Published 20/02/2010 | 05:00

Irish renewable energy firm Gaelectric has secured planning approval for a 14 megawatt wind farm at Carn Hill, Co Antrim.

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Gaelectric also expects its first wind farm in the Republic, in Co Roscommon, to be commissioned by the end of this year.

Services sector hit by slowdown

SERVICES

Activity in the important eurozone service sector in February showed a 'worrying slowdown', though there were gains in manufacturing.

The purchasing managers' index for the eurozone remained unchanged on 53.7 points. This was the seventh month the figure was above the key 50 mark.

Nestle reports a 42pc drop in profit

FOOD

The world's biggest food company Nestle yesterday reported a 42pc drop in its 2009 net profit to 10.4 billion Swiss francs and set its sights on stronger growth in the coming year.

The net profit, equivalent to €7.1bn, marked a retreat to the Swiss group's business performance in 2007.

Tullow 'only one in Uganda race'

OIL

Tullow Oil said yesterday that it is the only remaining candidate to acquire Ugandan oil assets controlled by Canada's Heritage.

"There is only one sale and purchase agreement (to buy out Heritage) and that is with Tullow," Brian Glover, the company's general manager of operations in Uganda said. "There's no hurdles now. It's more just a case of discussion."

Dell posts slip in quarterly profits

SOFTWARE

Dell's fourth-quarter profits slipped 5pc despite revenues climbing to $14.9bn.

The US computer giant's net income for the quarter ending January 29 was $334m, or 17 cents a share, compared to $351m, or 18 cents a share, the same time a year earlier.

Sales fall prompts fears for Britain

ECONOMY

Fears of a double-dip recession in Britain intensified yesterday as the sharpest monthly fall in retail sales in one-and-a-half years was revealed.

The downbeat spending figures come the day after a shock rise in public sector borrowing emerged. The £4.3bn deficit for last month is the first time that the Treasury has not recorded a January surplus.

Irish Independent

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