Monday 21 May 2018

€10.5bn loans may be rescheduled

THE EU may consider rescheduling at least €10.5bn of Irish rescue loans due to mature in 2015 and 2016, Davy Stockbrokers said.

Taken together with last month's deal on Anglo, extending the loans will cut the State's likely funding needs for 2015 to €9bn from a projected €18bn.

Oil steady after death of Chavez

THE price of crude was little changed yesterday following the death of Venezuelan president Hugo Chavez.

Benchmark oil for April delivery was down 10c to $90.72 (€69.77) a barrel in electronic trading on the NY Mercantile Exchange. Brent crude was down 16c to $111.45 on the ICE Futures exchange in London.

US private firms hire more hands

PRIVATE employers in the US hired more workers than expected last month, and demand for a range of factory goods was solid in January.

"This provides some signs that the economy is doing a little bit better," said economist Michael Strauss.

Funds delivered average 2.7pc

PENSION managed funds delivered positive returns in February, with an average return of 2.7pc for the month.

Setanta Asset Management took top spot with a return of 3.6pc, while Merrion Investment Managers propped up the table with 1.9pc.

Swatch sceptical on Apple 'watch'

SWATCH Group boss Nick Hayek said he's sceptical that an interactive watch could replace an iPhone, talking down the prospects for a project that Apple has hinted it's working on. "Personally, I don't believe it's the next revolution," the chief of the largest Swiss watchmaker said at a press conference on annual results in Grenchen, Switzerland..

PensionSource to create 23 posts

IRISH-owned financial services company PensionSource will create 23 jobs in the next three years in an initiative backed by Enterprise Ireland.

PensionSource has invested €1.5m in a cloud-based platform that allows advisers to handle client pension schemes more effectively.

British house prices up 1.9pc

BRITISH house prices posted their biggest year-on-year growth at 1.9pc in more than two years last month as the market continued to improve, Halifax said yesterday.

At £163,600 (€189,350) on average, prices were 1.9pc higher than a year earlier.

Irish Independent

Business Newsletter

Read the leading stories from the world of Business.

Also in Business