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In brief: Mining firm issues five million shares

EXPLORATION company Connemara Mining is to carry out a share placement to fund further development of a site in Limerick. The zinc miner will carry out an institutional placing of 5,250,000 new shares at 20p with the cash going to an expanded exploration at the Thurles block of licences.

UPC subscriptions jump 10pc in 2010

UPC said they had more than 785,000 subscriptions by the end of 2010, up 10pc year-on-year. Growth was driven by phone and broadband, which jumped 60pc and 35pc respectively. Chief executive Carol Grennan said: "These results demonstrate that consumers are responding to (our) our fibre powered network."

Lack of access to credit 'still worrying'

THE County Enterprise Boards biannual Business and Banking Confidence survey of small businesses has found that over half rate the business environment as "poor" or "very poor", highlighting that access to credit is still a worrying issue for small businesses.

Elan settles over patent infringement

AN Elan subsidiary will receive a $78m (€56m) payment from rival Celgene as settlement for a patent infringement on its drug, Abraxane. Celgene gained Abraxane as part of its acquisition of Abraxis BioScience last year. Elan will receive no further payments for sales of Abraxane. Celgene will acquire a fully paid-up, exclusive, global license to select Elan and foreign patents for Abraxane.

Irish Independent