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Banks post €5bn of notes as collateral

BANK of Ireland and AIB posted €5bn of government-backed notes as collateral for cash from the European Central Bank. AIB said it listed €2.5bn of three-month fixed-rate notes, while BoI said it listed the same amount of three-month floating-rate notes. The ECB, which has €132bn of cash in Irish banks, changed its collateral guidelines on January 1 and will now only accept euro denominated securities.

Fexco becomes an unlimited company


GOODBODY's new owner, Fexco, has become an unlimited company, shielding its financial results from public view. The unlimited status is revealed in an update on its website, which also shows Fexco booked profits of about €92,000 in the year to December 2009.

Smurfit school now ranked 78th in world


UCD's Smurfit Business School has jumped 20 places in the 'Financial Times' ranking of the top 100 global full-time MBA programmes, and is now ranked as 78th in the world. The school was also ranked among the top 25 MBAs in Europe. This is the 12th consecutive year UCD Smurfit School has been included in the global top 100.

Aer Lingus flies high at travel awards


AER Lingus was named the 'Best Airline to Europe' at the Irish Travel Trade Awards in Dublin this week, while Etihad was named 'Best Long-Haul Airline' operating out of Ireland. Continental Airlines was named the 'Best Airline to North America' at the awards, which have been running for 19 years. Dublin-based travel agency Sunway was also announced as 'Ireland's Favourite Travel Agent'.

Ford roars back with $6.6bn profit in 2010


FORD has reported a profit of $6.6bn (€4.85bn) in 2010 - its best performance in more than a decade. Sales volumes climbed by 20pc as the US carmaker credited an improving economy for increased demand for its F-Series pickup trucks. Meanwhile, sales by value rose by 3pc to $120.9bn. The results represented Ford's second consecutive annual profit - with more than twice its 2009 earnings.

Irish Independent