Sunday 25 February 2018

In Brief: Troika delay in Greece

INTERNATIONAL inspectors are set to put on hold a trip to Athens because they have been unable to bridge differences with Greece over how to close a €2bn hole in its 2014 budget, eurozone officials said.

A team of officials from the IMF, the European Commission and the European Central Bank – the troika – visits Athens regularly to check progress on its bailout commitments and to decide whether to release the next tranche of loans.

PHARMA GIANT PROBED

DRUG maker AstraZeneca, which has a large operation in Ireland, is being investigated by US authorities over a major clinical trial that was used to win marketing approval for its new heart drug Brilinta, casting fresh doubts over the medicine.

Various aspects of the drug study, which relied heavily on patients who were recruited in eastern Europe, have been criticised over the years by a number of medical experts.

WEIGHT WATCHERS LOSS

WEIGHT Watchers, the weight-control system provider endorsed by celebrities such as Jessica Simpson, fell the most in almost three months after the company suspended its dividend as it struggles to recruit members.

The company's share price plummeted by 18pc in afternoon trading in New York yesterday.

ORACLE CHIEF PAY BLOW

ORACLE shareholders have rejected the pay packages of chief executive Larry Ellison and other senior executives, following the recommendation of an influential adviser that said their compensation was out of sync with the company's performance.

Oracle has previously tussled with trade group Change to Win on the issue, which also criticised pay for top managers at the world's largest database-software maker.

TRADE RULES 'TOO LIGHT'

EU RULES being finalised to regulate derivatives and bond trading are too light-touch and will leave markets in the dark, EU financial services chief Michel Barnier has said.

The vast majority of trading in derivatives takes place among participants like banks and trading companies through voice trading systems. EU states and parliament have proposed exempting this type of trading from stricter transparency requirements so that most derivatives would continue to be traded in the dark, Barnier said.

Irish Independent

Promoted Links

Business Newsletter

Read the leading stories from the world of Business.

Promoted Links

Also in Business