Monday 11 December 2017

Crude is cheapest for eight months

CRUDE fell to the lowest level in almost eight months as employment reports in the US and the euro area signalled fuel demand may tumble. Oil dropped 3.8pc after the Labor Department said American employers added the fewest workers in a year in May. The euro region's jobless rate reached a record high, the EU's statistics office said. Brent dropped below $100 for the first time since October. Crude futures for July delivery declined $3.30 to $83.23.

Google to charge for product listings

TECHNOLOGY

Google is to start charging for listing products in its Product Search service. From autumn, only retailers who have paid a fee will appear. For the past 10 years the price comparison service's results were based only on relevance. It drives traffic worth about $1.3bn (€1bn) in annual sales globally, according to e-commerce consultants Channeladvisor. "We believe that having a commercial relationship with merchants will encourage them to keep their product information fresh," said Sameer Samat, vice president of product management for Google Shopping.

Sumitomo wraps up RBS Aviation

aviation

JAPAN's Sumitomo Mitsui bank has completed its $7.3bn (€5.9bn) acquisition of Dublin-headquartered aviation leasing group RBS Aviation Capital -- the fourth-largest aircraft leasing group in the world. The leasing unit will now be known as SMBC Aviation Capital. Sumitomo Mitsui clinched the RBS deal last January and was given approval for the transaction by the European Commission earlier last month.

8pc profit increase at Sligo sport group

ACCOUNTS

A Sligo-based sports group that counts Real Madrid, Juventus and Man City amongst its clients last year recorded a 8pc increase in profits to €2.4m after revenues increased by 25pc. The Support in Sport (SIS) group -- which supplies playing surfaces to major clubs across Europe, Africa and the Middle East -- increased its revenues last year from €21.7m to €27.1m. Now employing 80 full-time staff, SIS has secured contracts worth €22m in the first quarter of this year alone.

Irish Independent

Promoted Links

Business Newsletter

Read the leading stories from the world of Business.

Promoted Links

Also in Business