Thursday 22 March 2018

CRH directors' pay for 2010 stands still


REMUNERATION packages to executive directors at CRH, Ireland's largest public quoted company, dropped slightly last year to €6.6m, with chief executive Myles Lee picking up total pay and benefits worth €2.44m, the company's annual report has stated.

Mr Lee's pay and benefits last year reached €2.45m. The building materials company paid €1.3m in fees to the non-executive directors, marginally down on the previous year.

Portugal bond yield less than expected BONDS

DEBT-STRESSED Portugal yesterday raised €1.645bn in one-year bonds, paying a high rate of interest but still less than expected, to raise funds. The national debt agency said the average yield was 5.793pc, well below forecasts of around 6.4pc. The auction was 1.4 times oversubscribed, the agency added. At its last bond sale, Portugal paid 5.905pc on €1bn in bonds maturing in September 2013. Such rates are considered high and reflect concerns that Portugal will need external help to overcome its debt and deficit problems.

Boost for jobs as car sales up 14pc

MOTOR-INDUSTRY figures show that the number of cars sold in the first three months of this year was up 14pc compared with the same period last year. The Society of the Irish Motor Industry also claimed that 2,200 jobs had been created in the industry due to the sales boost provided by the scrappage scheme. SIMI figures show that 47,996 new cars were sold in the first three months of the year.

Oil prices up on jobs news and unrest

OIL prices rose yesterday in choppy trading, with US crude reaching a two-and-a-half-year high as supportive US jobs data reinforced economic growth expectations. Geopolitical supply risks also supported oil as Libya's conflict and Middle East unrest persist and elections near for OPEC-member Nigeria, brokers and analysts said. Oil prices also benefited from momentum after ending the first quarter posting double-digit quarterly gains. Brent crude for May rose 73 cents to $118.09 a barrel.

Irish Independent

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