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EFSF bond expected to yield 2.85pc rate

The European Financial Stabilisation Fund (EFSF) is expected to price a €5bn bond today with investor appetite strong. Analysts expect the new bond to pay a yield of 2.85pc.

The yield on Irish government bonds rose from 8.611pc to 8.85pc yesterday, on fears the political crisis here could delay the EU/IMF programme.

ECB spends €146bn buying state bonds

The European Central Bank spent €146bn buying the government bonds of stressed eurozone member countries last week, down €2.3bn on the previous week and one of the lowest totals for some time.

Construction added 9.8pc of value in '07

A report by the Central Statistics Office published yesterday on gross value-added, a measure of economic growth, shows construction accounted for 9.8pc or €16.2bn of value added to the economy in 2007. Real-estate services accounted for another 8.3pc or €13.9bn. Construction also paid workers a total of €11.3bn.

McDonalds reports 5pc rise in profits

US FAST food giant McDonald's has reported a 5pc rise in profits for last year, fuelled by a record $24bn (€17.5bn) in sales worldwide. McDonald's said net profit rose to $4.95bn last year, up 5pc compared with 2009.

Burke to lead hunt for pub group boss

SUPERQUINN chairman Simon Burke, who's the senior non-executive director at Mitchells & Butlers, will lead the search for a new chairman at the UK pub group after it announced that the current incumbent, John Lovering, will step down from the role later this year.

Irish Independent