Monday 23 October 2017

Stage is now set for product placement


MORE American-style advertising could be coming to a television near you after the Broadcasting Authority of Ireland proposed loosening product placement rules.

Under a revised advertising code published yesterday, Irish broadcasters will be allowed to include paid product placement in drama and light entertainment programmes.

Rich Americans to donate lion's share


FACEBOOK founder Mark Zuckerberg is among 17 US billionaires taking a pledge to donate the majority of their wealth to charity, organisers of the effort said yesterday. The project, launched this year by the two richest Americans, Warren Buffett and Bill Gates, has seen 57 individuals or families signing the 'Giving Pledge'.

Cove considers its position in E Africa


COVE Energy, the Irish-based explorer focusing on East Africa, may sell its natural-gas assets in Mozambique before plans are put in place to export liquefied natural gas (LNG) to Asia. Cove has made three "major" discoveries off the coast of Mozambique, together with larger partners. The partners are now examining plans to produce LNG as they step up exploration.

Food giant's ex-CEO to serve 18 years


THE founder and ex-CEO of Italian food conglomerate Parmalat has been sentenced to 18 years in jail for his role in a fraud at the firm. Calisto Tanzi was convicted of criminal association and fraudulent bankruptcy. A court also ordered former Parmalat executives to pay the firm €2bn and reimburse defrauded investors. Parmalat collapsed in 2003 with a €14bn hole in its accounts in what was Europe's biggest bankruptcy.

State Street sheds €8.3bn in assets


STATE Street, the third-largest custody bank, has sold $11bn (€8.3bn) in mortgage-backed securities and other assets, a step that more financial companies may take after global regulators agreed to tighten capital rules. The sale will reduce earnings by $350m in the current quarter, the Boston-based company said in a statement.

Irish Independent

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