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Kingspan unit seeks damages of €25m

A unit of Cavan-based insulation manufacturer Kingspan will resume a legal action in a London High Court today against Austrian firm Borealis, which the Irish company is suing for product liability related to polythene sourced from it. Kingspan is seeking damages of about €25m.

Ryanair passenger numbers up by 9pc


The number of booked passengers carried by Ryanair rose 9pc last month to 7.33 million, bringing the total number of booked passengers with the airline in the 12 months to the end of June to 75.5 million. The carrier's load factor last month was unchanged at 84pc.

Opsona starts trial of kidney op drug


Irish drug development firm Opsona Therapeutics says it has begun its phase-one clinical trial of a drug designed to prevent the rejection of kidneys by transplant recipients. Opsona believes its OPN-305 drug could have the potential to provide treatment for conditions including acute kidney injury, cancer and cardiovascular disease.

Swedish interest rate raised to 2pc


The Swedish central bank has raised its key interest rate by a quarter of a percentage point to 2pc to keep inflation in check as the Swedish economy grows. The Riksbank said the Swedish economy was growing "at a good rate" despite international uncertainty. Earlier, Australia kept its official interest rates steady at 4.75pc.

New orders at US factories rebound


OFFICIAL figures show that new orders received by US factories bounced back in May, boosted by demand for transport equipment and a range of other products. The US Commerce Department said orders for manufactured goods rose 0.8pc after a revised 0.9pc fall in April. Economists had forecast factory orders rebounding 1pc in May. Much of the increase was driven by orders for aircraft, a volatile category, which rose 36.5pc.

Irish Independent