Monday 22 January 2018

In brief

John Teeling's Botswana Diamonds has conditionally raised £282,500 (€390,000) via a share issue.

The precious stone explorer, which holds licences in Botswana and Cameroon, issued over 28m shares at 1p apiece. That represented a 27.5pc discount on yesterday's closing mid-price and sent shares 33pc lower yesterday to 0.93p. Chairman John Teeling said the money raised will be used to fund the company's exploration projects in Botswana and other working capital requirements.

Euro deflation slows

Deflation in the Eurozone persisted in March but the rate of decline slowed, further easing concerns that the economy faces a dangerous spiral of falling consumer prices.

Prices were down 0.1pc in March, less than the drop of 0.3pc in February, the EU statistics agency Eurostat said. Prices had slumped 0.6pc in January.

The bottoming out of price falls is likely to be welcome news for the European Central Bank, which wants to keep inflation below, but close to 2pc over the medium term.

UK growth on the up

The UK economy grew more strongly than previously thought last year, according to revised official figures showing gross domestic product rose by 2.8pc.

The UK's GDP had previously been estimated to have risen by 2.6pc.

Figures from the Office for National Statistics (ONS) showed growth in the fourth quarter was 0.6pc, up from a previous estimate of 0.5pc.

GDP per head in 2014 rose by 2.2pc, although it remains 1.2pc below levels before the economic downturn.

CFOs struggling

Ireland's finance leaders are struggling to become more strategic but are focused on the areas that matter, according to the PwC 2015 Chief Finance Officers' Survey.

Over a quarter are not planning any restructuring at all. Half say finance is more easily available now compared to six months ago, up from just 15pc a few years ago.

Skills are an issue as half say being under resourced is a top challenge.

Over a quarter say they do not have the right skills but they are addressing this as nearly half are changing their talent management strategies.

Irish Independent

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