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Software engineers 'will be in demand'

Ireland needs to produce more software engineers to cope with future demand, according to the head of an engineering trade body.

According to Engineers Ireland's director general John Power, Ireland has created 5,000 jobs in the technology sector since 2010 and employers expect more opportunities for software engineers in the future.

US cuts spending as it reaches debt limit

THE US has reached its debt limit of $14.3 trillion (€10.06trn) and is taking measures to cut spending to avoid breaching it. Treasury Secretary Timothy Geithner has said that he will suspend investing in two large government pension funds. This delays any breaching of the limit to August 2.

US exchanges drop bid for rival bourse

US stock exchanges Nasdaq and ICE are dropping their $11.3bn (€7.8bn) bid for rival NYSE Euronext. The two exchanges concluded the proposed takeover would not be approved by US regulators. NYSE Euronext had already rejected the unsolicited bid for the same reasons last month.

Irish fork out nearly €3bn in online buys

IRISH people spent about €2.96bn online last year, up by 39pc on 2009 figures, new research has found. The research by Visa Europe shows that the increase can be attributed to the fact people believe online shopping offers good value and they are also more confident shopping online. Half the respondents indicated that they saved between 11pc and 30pc online.

Analysts bearish on European stocks EARNINGS

ANALYSTS are cutting European earnings forecasts by the most in almost two years just as equities in the region trail US shares by the widest margin since the bull market began. Estimates for Stoxx Europe 600 Index profit growth dropped by as much as 4pc this year, including the biggest three-month reduction since September 2009, Bloomberg reported.

Irish Independent