Thursday 22 February 2018

US jobless figures up

More Americans than projected filed applications for unemployment benefits last week, while total benefit rolls reached the lowest since December 2007, signs the US job market may take time to show a sustained acceleration.

Jobless claims increased by 28,000 to 326,000 in the week ended May 17, after 298,000 filings a week earlier that were higher than initially reported, US Labour Department figures show.

FACTORY PRICES ON RISE

Monthly factory gate prices increased 0.5pc last month, the Central Statistics Office said. This compares to a rise of 0.1pc recorded for April of last year. As a result, the annual percentage change showed a decrease of 2.7pc in April 2014, compared with a decrease of 3.1pc in the year to March 2014. In the month, the price index for export sales rose by 0.7pc, while the index for home sales remained the same.

In the year there was a decrease of 3.1pc in the price index for export sales and a drop of 0.6pc in the price index for home sales. Increases were seen in the following categories: Meat and meat products (+1.9pc), Other food products including bread and confectionery (+1.3pc) and Basic pharmaceutical products and pharmaceutical preparations (+1.1pc), while there were decreases in fish and fish products (-6pc), dairy products (-0.9pc) and computer, electronic and optical products (-0.4pc).

DEPFA'S €41M LOSSES

Hypo Real Estate's Dublin-based Depfa Bank unit, which the German government ordered last week to be put into wind-down, posted a €41m first quarter net loss. The loss compares with a €43m loss for the same period last year and a €25m profit for the fourth quarter of 2013.

Depfa said results don't include any effects arising from a decision to transfer its assets to German government-owned bad bank FMS Wertmanagement. The bank added that future results may be impacted by restructuring costs and the bank's current estimate of debit value adjustments, or DVAs, which could have "material negative impact" on its income.

TECH WOMEN TARGETED

Female Founders, a course for new technology start-ups with women in their founding teams, has been announced by early stage investor NDRC in partnership with AIB and Enterprise Ireland.

Women with high-tech business start-up ideas should apply for the programme by July 2.

Irish Independent

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