Sunday 17 December 2017

In Brief: Ryanair pushes for routes from Israel

Ryanair has claimed it could service 40 routes from Israel and fly 2.2 million passengers a year to and from the country. It reckons its business would provide a €480m-a-year boost to the Israeli economy. The airline is pushing Israel's government to sign an open skies aviation agreement with the European Union. Israel has already agreed in principle to a deal.

Boost for Britain in Northern Rock sale

BANKING

Britain is set to make a further £538m (€688m) from the sale of Northern Rock to Richard Branson's Virgin Money. UK Financial Investments, the company set up to manage the UK government's stake in the banks, said that Britain's finance ministry had received a further £73m. The £73m cash from the sale is in addition to the £747m received on completion.

Johnston joins board of Fyffes

DIRECTORS

Robert Johnston has joined the board of Fyffes as a non-executive director with immediate effect. He is chief strategy officer with the InterTech Group in South Carolina, which manages a diverse group of businesses, including a number of strategic investments in various public companies.

Trader arrests over rate manipulation

LIBOR

US prosecutors and European regulators are close to arresting individual traders and charging them with colluding to manipulate global benchmark interest rates. Federal prosecutors in Washington DC contacted lawyers representing some of the suspects to notify them that charges and arrests could be imminent, said two people familiar with the investigations.

Cnooc's $15bn deal for Nexon oil

ENERGY

China's Cnooc has agreed to buy a Canadian oil group for $15.1bn (€12.4bn) plus debt. Cnooc's purchase of Calgary-based Nexen comes at a time when Chinese companies are scouring the world for resources in the global downturn. Cnooc's cash offer of $27.50 a share represents a 61pc premium to Nexen's closing price on Friday.

Irish Independent

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