Regulator warns on Marcus Jones
THE CENTRAL Bank and Financial Regulator has published a warning notice on Marcus Jones International (UK). The regulator said the firm was not authorised as an investment firm in Ireland, but had been offering investment services to members of the Irish public.
Lehman auctions art treasures
BANKRUPT financial group Lehman Brothers is selling off part of its art collection in the hopes of returning millions to creditors. Despite a lukewarm modern art market, Sotheby's estimates the auction of 160 works in New York on Saturday will yield $10m [€7.6m]. Because of the sluggish market for modern art, Lehman is selling a smaller number of pieces than initially planned and is focusing on big-name artists.
Airline industry soars on profits
THE International Air Transport Association (IATA) yesterday more than tripled its forecast for airline industry profits this year as demand picked up, but warned earnings would ease back next year. IATA said the sector would earn $8.9bn [€6.7bn] in 2010, well up from its previous prediction of $2.5bn. Besides increasing demand for air travel, better capacity management by the airlines also helped the industry to recover stronger than expected from the global slump, IATA said.
Companies focus on export deals
A RECORD number of Irish companies are said to be investigating new export markets, with 660 Irish companies taking part in Enterprise Ireland's International Markets Week this week. The event is Enterprise Ireland's single largest client event, run annually in Dublin and Shannon.
Housing starts hit four-month high
OFFICIAL figures show that US housing starts increased by more than expected in August to their highest level in four months. Permits for future home construction rose, suggesting the country's embattled housing market was starting to stabilise after the end of a tax credit. The Commerce Department said housing starts rose 10.5pc, the largest increase since November, to a seasonally adjusted annual rate of 598,000 units.