Thursday 22 March 2018

QE impact confusion

One in three business owners here are confused about the potential impact of the ECB's proposed quantitative easing.

And 50pc fear recent political developments in Greece will pose a threat to economic recovery in Europe, according to a survey by the France Ireland Chamber of Commerce.

Just over half also believe the Government is doing enough to boost the Irish economy.

France Ireland Chamber President Jim Rice said the Government needs to raise awareness about any impact around QE.

Expedia in bid for Orbitz

Online travel agency Expedia said it would buy rival Orbitz Worldwide for about $1.38bn in cash, as it looks to increase its customer base in a highly competitive industry.

"We are attracted to the Orbitz Worldwide business because of its strong brands and impressive team," said Dara Khosrowshahi, Expedia CEO.

Orbitz, the operator of CheapTickets website, had been exploring a sale and had engaged financial advisers to reach out to potential buyers.

UK deflation prediction

Bank of England governor Mark Carney insisted the Bank can look through an inflation slump as officials signalled interest-rate increases could come sooner than investors anticipated.

While the governor presented forecasts showing the rate of price growth may drop below zero in the coming months, he blamed weakening oil prices and said domestic pressures are building.

That means inflation will accelerate at the end of this year and breach the 2pc target at the end of the three-year forecast period.

S&P parent in loss

McGraw Hill Financial, parent of Standard & Poor's, reported a quarterly loss, hurt by a $1.5bn charge related to legal and regulatory settlements.

The company's loss from continuing operations was $1bn for the fourth quarter, compared with an income of $165 million a year earlier.

S&P said last week it would pay $1.5bn to resolve a collection of lawsuits over its ratings on mortgage securities that soured in the run-up to the 2008 financial crisis.

William Fry and AIB

Solicitors William Fry has been appointed legal adviser for capital restructuring and other related matters in relation to the state's stake in AIB.

The appointment was made following a "mini-tender" competition earlier this month involving all members of the Department of Finance's legal advisory panel, the Department said.

Irish Independent

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