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Eurozone morale up

Eurozone morale rose for the second straight month in November as a pick-up in industry sentiment just outweighed increased pessimism among consumers.

It offered a tentative sign that the bloc is avoiding outright stagnation. The Commission expects the 18-country economy, which generates almost a fifth of global output, to avoid a recession, but it will not reach stronger growth until 2016 - a year later than the Commission had predicted.

Tech firms in US pitch

Fifteen Northern Ireland tech companies are being given opportunities to pitch for business and for potential investors in San Francisco and San Diego next month.

The mission, which will also include senior representatives from Queen's University's Electronics, Communications and Information Technology (ECIT) institute at Titanic Quarter, will be in the Californian technology centres from 1-5 December.

Dr Vicky Kell, Invest NI Trade Director, said the visit was an integral part of its programme of US missions to key business centres.

TV 3 posts profit

TV3 has posted a net profit of just over €7.4m due to an exceptional gain related to the buyback of its former Anglo Irish Bank debt.

New accounts for the broadcaster's holding firm, Tullamore Alpha, showed an exceptional gain of €8.9m from the buyback of its debt through the IBRC refinancing. The company, which will face competition from UTV's new channel next year, reported a 19pc fall in operating profit to €1.1m while turnover fell to €55.9m.

Barclay's exits scheme

Barclays' private bank in Switzerland has dropped out of a US programme aimed at cracking down on wealthy Americans evading taxes through hidden offshore accounts, the British bank's market head for Switzerland said yesterday.

"We have recently exited the programme," Barclays executive Francesco Grosoli said, adding that the bank had done so "three or four months ago" after evaluating options and seeking advice.

Scotland's tax powers

Scotland should take control of income tax raised in the country as part of a package of new powers transferred from the UK government, according to the recommendations of a cross-party group.

Proposals by the Smith Commission also include allowing the Scottish Parliament to set levies on air fares.

Irish Independent