THE Irish arm of hairdressers Toni & Guy has confirmed that it needs to restructure its business.
It will be the second restructuring of the business after an examiner was appointed in 2007. Details of the plan are due to be announced today and could include the closure of some of its 11 Irish stores. The UK parent of the business owns half of the Irish company, alongside businessman Alan Boyce. The business had to be bailed out by its British parent in 2007 through the examinership, amid claims of fraud and financial irregularities.
IMF chief calls for finance oversight
INTERNATIONAL Monetary Fund managing director Dominique Strauss-Kahn has called for greater oversight of the financial industry and said central bankers must focus on more than inflation. "There have been significant advances in regulatory reform, particularly the recent agreement on strengthening bank capital," Strauss-Kahn wrote in a Spanish newspaper yesterday.
Circle Oil finds gas of coast of Morocco
LIMERICK-based exploration company Circle Oil says it has found gas at an exploration well in Morocco. The well is in the Sebou permit, which lies to the north-east of Rabat in the Rharb Basin in Morocco. The KRS-10 well was the third of five wells to be drilled in its current programme. Circle has a 75pc share of Sebou, with the Moroccan state oil company holding the balance.
EasyJet in €826m aircraft purchase
LOW-COST airline easyJet has bought 15 Airbus A320 single-aisle planes worth $1.1bn (€826m), the British company said yesterday. The company added that it had agreed an option to purchase a further 33.
Goodbody still No 1 Irish M&A law firm
A&L Goodbody advised on 36 merger and acquisitions worldwide, with a transaction value of over €11bn, more than any other Irish law firm in 2010, according to Thomson Reuters. This is the fourth consecutive year that A&L Goodbody has been ranked as the No1 Irish M&A law firm by Thomson Reuters.