Ardagh announces plan to raise funds
Packaging group Ardagh, which on Monday announced its intention to seek a stock market listing this year, is planning to raise money via two tranches of payment-in-kind notes and said that its first quarter revenue and EBITDA will be up on a year-on-year basis, without giving additional details.
Eircom customers in line for upgrade
Eircom has said it will upgrade 20,000 customers using its 8MB next generation advanced broadband to 24MB and cut the cost of the service by 17pc to just under €40 a month. An additional 110,000 Eircom customers using the regular 8MB service will have their usage allowance increased.
Lufthansa group in passenger boost
Germany's leading airline, Lufthansa, said yesterday that its entire group carried 8.83 million passengers in April, a big annualised gain owing to the damaging effects of the Icelandic volcano eruption a year ago. The year-on-year gain for Lufthansa, which also owns Austrian Airlines, the British carrier bmi and Swiss, came to 31.5pc.
Boston Scientific CEO to step down
Boston Scientific, the second-biggest maker of implanted heart devices, said Ray Elliott will retire as chief executive officer at the end of 2011, sending the company's shares down the most in 14 months. Mr Elliott (61) served as president and chief executive officer for less than two years, taking the helm in July 2009.
Australia confident over budget surplus
Deputy Prime Minister Wayne Swan says Australia will achieve a budget surplus in two years despite devastating floods at home and recent natural disasters in Japan and New Zealand that are slowing economic growth. Mr Swan outlined to Parliament yesterday an economic blueprint for the fiscal year starting July 1 that would achieve a AUS$3.5bn (€2.6bn) surplus in the 2012-2013 year.