Sunday 17 December 2017

First Derivatives acquires LDV

TAKEOVER

FIRST Derivatives, a Dublin-listed provider of software and consulting services to banks and hedge funds, has bought Canada-based data management company LakeFront Data Ventures. The Northern Ireland-based company declined to say how much it paid for the firm, but it will pay a mixture of cash and issue 82,602 new ordinary shares to finance the deal.

Lloyds eyes stake in press group

MEDIA

LLOYDS Banking Group is mulling taking a stake in Dunfermline Press, which owns several Irish newspapers including the 'Westmeath Independent', the 'Westmeath Examiner', the 'Meath Chronicle' and the 'Anglo Celt' in Cavan. This would leave the Irish newspapers part-owned by the British government, which is the majority shareholder in Lloyds.

Losses up 41pc at Halifax Insurance

INSURANCE

HALIFAX Insurance Ireland, which underwrites repayment insurance provided on mortgage, credit card and personal loans, said losses rose 41pc last year as rising unemployment in the UK forced the company to increase payouts. The Halifax unit, which ultimately belongs to the UK-based Lloyds Group, posted a loss of £30.4m (€36m) as sales fell 18pc to £193.9m last year.

Gold fluctuates on stronger euro

METALS

GOLD futures fluctuated after dropping the most in July in seven months, as a rebound in the euro eased demand. Gold futures increased 8pc this year, reaching a record $1,266.50 an ounce on June 21. The metal also climbed to all-time highs in euro on June 7, amid Europe's debt crisis.

US treasury presses China

CURRENCIES

US Treasury Secretary Timothy F Geithner's top international adviser said the US is monitoring movement in China's currency and reiterated that the Obama administration wants the Asian nation to do more to promote domestic demand. The US wants to ensure that China is "a source of demand in the world economy, that we rebalance the sources of growth, that the world doesn't depend on the US consumer, and that China moves away from an export-led growth strategy", Treasury undersecretary Lael Brainard said.

Irish Independent

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