In Brief: 40pc not saving at end of the month
FOUR in 10 people are not saving money at the end of the month, the latest Nationwide UK (Ireland)/ESRI savings index shows.
The proportion of people saving regularly has fallen during 2012 and now stands at 34pc. This compares with an average for 2011 of 39pc and 40pc in 2010. Nationwide said there was evidence of conflicting attitudes among consumers about the economic environment and their ability to adjust their savings behaviour accordingly.
Plan for quotas on boards dropped
THE European Commission has dropped a plan to force firms to give 40pc of non-executive board positions to women in favour of a less drastic obligation to favour female candidates where they are equally qualified.
Commission lawyers said it was "problematic" for the European Union to impose strict quotas, though it could instruct companies on how to hit quotas.
Eircom has appointed Kevin White as managing director of its consumer division. It is the first senior hire since the company announced plans to let go around one in three staff at the end of last month.
Mr White will take up his new role in February. He is currently group chief operating officer at Denis O'Brien's telecom company Digicel Group.
Inflation in UK increases to 2.7pc
UK inflation leapt to 2.7pc last month after university students were hit with a near-trebling in tuition fees and households faced rising food costs.
The Office for National Statistics said the consumer price index rose by the largest amount in over a year between September and October, up from 2.2pc.
Elan shareholders to vote on new firm
IRish drug company Elan will hold an EGM on December 12 to allow shareholders vote on a planned demerger of its business that will result in the creation of a newly listed firm, Prothena.
Elan is spinning off its cash-hungry drug development pipeline and separating it from its business that includes a 50pc stake in multiple sclerosis treatment Tysabri. Elan shareholders will hold stock in the new entities. Elan will own 18pc of Prothena after the demerger and inject $99m (€77.8m) into the business.