Saturday 24 February 2018

US and Britain 'deserve' ratings

RATINGS

Nobel laureate Joseph Stiglitz said the US and Britain "deserve" to keep their triple-A ratings. "The likelihood of a default is so small, particularly in the US because all we do is print money to pay it back," Stiglitz said yesterday.

"The notion of a default is so absurd it's another reflection of the absurdities in the financial markets.''

Weather sparks oil price surge

CRUDE

Oil rose for the first time in four days as the US mid-Atlantic region braced for a new winter storm. Crude oil for March delivery rose 65 cents, or 0.9pc, to $71.84 a barrel.

ESB International director to quit

UTILITIES

ESB International's executive director Michael McNicholas has announced he is leaving the company for an unnamed company in the private sector. Mr McNicholas, who joined the ESB in 1982, was once seen as potential chief executive of the entire group.

Permanent TSB cuts deposit rates

SAVINGS

PERMANENT TSB has cut the rates it pays on a range of its deposit accounts. The bank has cut the rate on its Signature demand deposit account from 2pc to 1.75pc. Its nine-month fixed rate falls from 3pc to 2.7pc, and its 18-month fixed rate is down from 5pc to 4.6pc.

Cancer tops list of assurance claims

LIFE COVER

MALIGNANT cancer is the main reason people make a claim on a life assurance policy. New statistics from Irish Life also show that one in four people will suffer a serious illness before reaching retirement age. The life company paid out €250m in life assurance claims to 5,000 families last year.

Irish firm wins dispute over jet

COURTS

AN aircraft leasing company has regained possession of a Boeing jet at the centre of a dispute with a Spanish airline. Last Tuesday, Pembroke 717 Leasing, Dublin, secured an order from Mr Justice Peter Kelly requiring Quantum Air SA to hand over possession of the $12m (€8.7m) aircraft. Yesterday, John Breslin BL, for Pembroke, said his client had taken possession of the aircraft last Friday.

Irish Independent

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