Saturday 16 December 2017

Vit Hit gets €50,000

The makers of the Vit Hit drinks have secured a €50,000 loan through peer-to-peer lender Linked Finance.

Vitz Drinks plans to use the money to launch a range of children's soft drinks.

"I am in a position where I really want to expand the business, but I've continually met frustration in terms of sourcing finance from traditional sources," Vitz drinks co-owner Ian O'Rourke said.

"Using the crowd lending market from Linked Finance I will be able to get the investment, launch our new product and generate business growth."

PTSB prizes on offer

permanent TSB bank is offering €38,000 worth of prizes to customers approved for a car loan between now and March 13.

The bank has teamed up with service station operator Topaz to give customers the chance to win a €500 Topaz gift card. Winners can use the card to buy petrol or diesel, or to shop in any of Topaz's 330 convenience stores.

Tesco eyes data arm

Tesco is pursuing the sale of a majority stake in its data-gathering arm Dunnhumby, rather than an outright exit or flotation, a source familiar with the situation told Reuters yesterday.

Last month the retailer said it would slash costs and sell assets to fund lower prices and mend its finances.

"It would either be a trade or strategic buyer, or private equity buying a majority stake and Tesco keeping the rest," the source, who did not wish to be named, said.

Tesco declined to comment.

Nissan lifts forecast

Nissan has nudged up its profit forecast for what is already set to be the automaker's best year since 2008, saying a surge in the dollar is pushing up the value of earnings in the US, its biggest market.

Japan's second-biggest automaker by sales after Toyota has enjoyed strong growth in the United States over recent quarters.

GM defect claims

General Motors received another 57 claims for compensation for ignition switch defects in its cars in the past week, bringing the total to 4,237, according to the administrator of the company's compensation programme.

GM has set aside an initial $400m (€353m) to cover its costs of compensation for claims on behalf of people injured or killed because of the faulty switches.

By the end of Friday, GM had received 462 claims for deaths.

Irish Independent

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