Business World

Wednesday 1 October 2014

Smart devices a big hit for banking

Published 22/11/2012 | 05:00

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SIX out of 10 owners of smart devices such as smartphones and tablets are doing their banking through their device, research commissioned by Danske Bank shows.

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The bank, which was called National Irish Bank, said 63pc of adults now have a smart device. Yesterday Danske said it was the first bank here to launch an iPad banking app. It is estimated that the combined use of online and mobile banking will reach 71pc of the adult population in Ireland by the end of 2013 and 83pc by the end of 2015.

Elan chief sells shares for €2.1m

Elan chief executive Kelly Martin has sold nearly 268,000 shares in the group for a gross gain of almost $2.8m (€2.1m).

Stock exchange filings yesterday show that Mr Martin exercised options to buy 444,000 shares in the company at $3.85 each at a cost of $1.7m (€1.3m). He also sold 267,672 shares at $10.45 each. Mr Martin also exercised options and sold shares last August.

Deutsche says eurozone is safe

DEUTSCHE Bank expects the eurozone to remain intact and its slow pace of recovery to create opportunities for outside investors. The bank's co-chief executive, Anshu Jain, told business leaders in Dubai that the chances of a country leaving the single currency bloc had diminished.

Fears of a so-called peripheral eurozone state such as Greece leaving the currency union have haunted markets and politicians as the region's debt crisis has unfolded. "Fundamentally, we believe the eurozone will remain intact," Mr Jain said, saying "the market-implied volatility of a peripheral country defaulting or leaving the euro zone has receded." Attempts to get Greece's debt down to a sustainable level have so far stumbled.

Manufacturing in US grows rapidly

US manufacturing is growing in November at its quickest pace in five months, with a rise in domestic demand suggesting factories could provide a boost to economic growth in the fourth quarter.

Other data showed a drop in new claims for jobless benefits, although they remained elevated due to superstorm Sandy, and only a marginal improvement in consumer sentiment. Financial information firm Markit said its US "flash", or preliminary, manufacturing Purchasing Managers Index rose to 52.4 from a three-year low of 51.0 in October. A reading above 50 indicates expansion.

Mortgage scheme 'being strangled'

ThE Government scheme to help low-income families in mortgage arrears to stay in their homes is effectively being strangled before it gets off the ground, a new broker body has claimed.

The Association of Expert Mortgage Advisers said the scheme was in trouble even before it completed its pilot phase. The scheme involves people giving up ownership of their home to a housing charity, with the banks selling the home to the charity. The family gets to stay in the home and rents it. But DJ O'Donovan of the Association of Expert Mortgage Advisers said it was taking ages to agree mortgage-to-rent deals.

German 'FT' to cease printing

THE publisher of the 'Financial Times' German offshoot is set to shut the loss-making business daily, putting up to 350 jobs in jeopardy in the latest blow to Europe's ailing newspaper industry.

The national daily 'Financial Times Deutschland', which has a circulation of about 100,000 copies, said on its website yesterday that the publication is "about to be stopped". The publisher of the English-language 'Financial Times', Pearson PLC, sold its stake in the German paper in 2008, but it continued to appear on the same distinctive salmon-coloured paper. The German offshoot, often called FTD by its initials, became a widely respected national newspaper published five days a week.

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