State withdraws €750m of bonds
THE STATE has cancelled €750m of its own bonds. The short-dated treasury bonds, acquired on the secondary bond market by the National Treasury Management Agency, were due to mature in January 2014.
They carried an interest rate or yield of 4pc. About €6.848bn of the bonds remains outstanding following the decision.
ONLINE SALES 'TO TRIPLE IN FIVE YEARS'
ONLINE sales of goods between countries will almost triple over the next five years, according to a new study commissioned by PayPal. The research, compiled by Nielsen, said cross-border web commerce between Australia, Brazil, China, Germany, the UK and US will jump to $307bn (€232bn) in 2018 from $105bn this year alone.
The top categories of goods that will be traded includes clothing, shoes and accessories, followed by health and beauty products, and personal electronics.
BENTLEY'S GREEN LIGHT FOR TOP SUV
VOLKSWAGEN has given its ultra-luxury Bentley brand approval to build a sport-utility vehicle, which could cost about €180,000, to expand beyond exclusive sedans and coupes.
The new model will go on sale in 2016. The price range of the vehicle would make it the world's most expensive SUV.
AVIATION LEASING TO SOAR UNDER PLAN
THE GOVERNMENT is introducing new reforms that will help Irish-based aircraft leasing entities and airlines to broaden their funding options on global capital markets.
"Ireland is home to 50pc of the world's aircraft leasing industry and is a key source of finance for the growing commercial aircraft market that has annual funding needs of over $100bn," said Goodbody stockbrokers' Joe Gill.
M&S NEW RANGE TO HALT FALLING SALES
MARKS & Spencer chief executive Marc Bolland has a lot riding on the British retailer's new clothing ranges, which hit the stores yesterday. The Dutch man is in the final year of a three-year £2.3bn (€2.7bn) plan aimed to fix decades of under-investment. So far his efforts have been insufficient to prevent sales falling for eight straight quarters.
The new clothing strategy is focused on higher quality garments targeted more toward M&S's core 45-years-and-over customers.