New legislation will name errant firms
ERRANT financial firms that have findings made against them by the Financial Services Ombudsman will be named under planned new legislation.
Finance Minister Michael Noonan has written to Fianna Fail's Michael McGrath telling him the Government intends to bring forward amendments to the Central Bank (Supervision and Enforcement) Bill 2011 to make provision for the regulation of debt management firms and to give powers to the Ombudsman to publish the complaints record of financial institutions.
Spin-out company of UCC wins funding
Cork-based UCC spin-out company Keelvar Systems has announced that it has secured €750,000 in a funding round led by ACT Venture Capital and with investment from Enterprise Equity and Enterprise Ireland. The company has developed software that makes the auction and tendering process for government procurement more efficient and cost-effective.
US unemployment numbers plummet
The number of Americans seeking unemployment aid plummeted to 339,000 last week, the lowest level in more than four years. The sharp drop offered a hopeful sign that the job market could pick up. The Labour Department said weekly applications fell by 30,000 to the lowest level since February 2008.
Blow for Greece as drinks bottler leaves
Greece's biggest company, Coca-Cola Hellenic (CCH), is leaving the country, the drinks bottler has said. It is moving to Switzerland. CCH said the 5pc of its business that the world's second-ranked Coke bottler has in Greece will be unaffected. But analysts quickly saw it as bad news for a nation struggling to compete inside the eurozone.
Limerick jobs fair offers 500 vacancies
MORE than 500 vacancies were on offer to University of Limerick students through 124 companies taking part in the largest annual University of Limerick Careers Fair, which took place yesterday. The fair has been running for 13 years and more than 3,000 students and graduates visited this year's event.