Thursday 30 March 2017

In brief: IFG non-executive director appointed

FINANCIALS

Financial services group IFG has appointed Evelyn Bourke as a non-executive director of the company. Ms Bourke, the chief commercial officer of Friends Life Group, is a qualified actuary with an MBA from London Business School.

Brazil reduces its growth estimate

ECONOMY

The Brazilian government may reduce its estimate for economic expansion in 2011 as debt and growth concerns in developed nations have led to a slump in stock markets, a government official said. Latin America's largest economy now expects to expand 3.8pc to 4pc this year.

US stock options streak comes to end

VOLATILITY

The benchmark index for US stock options headed for its first drop in five weeks, halting the longest streak of increases since October 2008, after Fed chairman Ben Bernanke indicated the economy isn't deteriorating enough to warrant any immediate stimulus. The VIX, as the Chicago Board Options Exchange Volatility Index is known, fell 10pc to 35.61 in New York.

New Boeing 787 ready for take-off

AVIATION

Boeing Co's 787 Dreamliner will be delivered to its launch customer, Japanese carrier All Nippon Airways, on September 25 after yesterday's US regulatory approval of the first plastic-composite jet.

Portugal advised on utility stake sale

STATE SALES

Morgan Stanley is advising on the sale of Portugal's €1.65bn, 25pc stake in utility Energias de Portugal (EDP). The sale is one of the measures that the government pledged in exchange for a €78bn bailout.

Study reveals debt slowing of economy

SOVEREIGN DEBT

Governments begin to hobble economic growth when public debt runs as high as 80pc to 100pc of gross domestic product, according to a study by the Bank for International Settlements. An increase in debt to around that range may impose a "significant impact" on economic performance, Basel, Switzerland-based economists estimate.

Irish Independent

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