RESEARCH and Innovation Minister Sean Sherlock leaves on a week-long Enterprise Ireland functional foods and life sciences trade mission to Japan today.
Enterprise Ireland organised the mission as it believes there is potential for growth in the Japanese market. Fourteen of Ireland's leading food and life sciences firms are taking part in the mission along with Bord Bia and Teagasc.
Virgin in talks to join alliance
Virgin Atlantic, the airline controlled by UK billionaire Richard Branson, is in "fairly advanced talks" to join an aviation alliance as it seeks to boost its competitive position and restore earnings.
Mr Branson said: "Virgin Atlantic has always enjoyed its independence, but since pretty well every competitor that we have has an alliance, I think we have finally decided that to survive we need to have an alliance." He declined to name the group the London-based airline is speaking with. (Bloomberg)
Tax levels below OECD average
IRISH people are still paying far less tax than people in most other industrialised countries, says a new report by the Organisation for Economic Co-operation and Development.
The OECD's annual report on the tax wedge, the amount of tax paid by employee and employer minus welfare payments, shows that an Irish couple with one person earning and two children paid just 7.1pc of their income in taxes last year, compared with an OECD average of 25pc.
German consumer confidence rising
German consumer confidence will climb to a five-year high in November as rising wages and unemployment at a two-decade low outweigh concerns about the sovereign debt crisis and slowing economic growth.
Market research firm Gfk SE forecast its consumer-sentiment index, based on a survey of about 2,000 people, would rise to 6.3 from a revised 6.1 in October. (Bloomberg)
IN an article published on October 24, the Irish Independent suggested that in 2011 private equity firm Blackstone was among the bidders for a portfolio of US loans being sold by state controlled NAMA. In fact the loans were being sold by state controlled Irish Bank Resolution Corp (IBRC). We are happy to correct this point.