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Hi-tech firms beat recession trends

HI-TECH firms backed by the Venture Capital sector are beating the recession and creating jobs, according to new research from UCD. The research found that companies backed by Venture Capital funds employed 9,733 on an all-Ireland basis in 2009, up 36pc in just two years.

O'Callaghan takes on role as ICOS boss

The Irish Co-operative Organisation Society (ICOS) has appointed Tom O'Callaghan as chief executive. ICOS represents 150 co-operative businesses and organisations in Ireland with 150,000 individual members, 12,000 employees in Ireland and combined turnover of €10bn. Mr O'Callaghan has worked in the industry for over 15 years.

'Tough year ahead' for drinks industry

THIS year will be "another tough year" for the Irish drinks industry as alcohol consumption falls back to levels not seen in 15 years, according to Heineken's Irish arm. On a per capita basis, alcohol consumption in Ireland has now fallen by 20pc since the 2001 peak.

BoE opens door to tight money policy

THE Bank of England (BoE) says UK inflation is just as likely to be above or below target in two years if interest rates rise as markets expect. Its report is seen as opening the door to a tighter monetary policy. But the BoE governor insisted that no decision had been taken.

Dell profits treble, boosting share price

Shares in Dell have jumped almost 10pc after it announced that its profits had almost trebled. The company said its fourth-quarter net income had risen to $927m (€684m), up from $334m in the same quarter a year earlier. That helped boost full-year net income to $2.6bn.

Goldman Sachs to shut trading desk

Goldman Sachs will shut its global macro proprietary trading desk. The desk, which trades currencies and stocks as well as products tied to interest rates and other fixed-income markets, will close in the days ahead.

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