Business World

Tuesday 12 December 2017

Weak demand for US assets in June

MARKETS

GLOBAL demand for US stocks, bonds and other financial assets weakened in June from a month earlier as the White House and Congress wrangled over raising the debt limit, government figures show.

Net buying of long-term equities, notes and bonds totalled $3.7bn (€2.6bn) during the month compared with net buying of $24.2bn in May, according to statistics issued by the Treasury Department. The reporting on long-term securities is a gauge of confidence in US economic policy, and yesterday's report may reflect concern about the government's ballooning debt.

Ormonde arm gets Spanish licences

MINING

A DIVISION of Ormonde Mining has been awarded four new licences at the La Zarza copper project in Huelva province in the Pyrite Belt in southern Spain. The permits are included in the joint venture Ormonde Espana has with Antofagasta Minerals, and cover an area of 95 sq km. The licences were taken out to see if the mineralising event that was responsible for La Zarza might also have put in place other accumulations of the mineral that have not yet been discovered. A $1.3m (€900,000) budget has been agreed and will be entirely funded by Antofagasta, its Chilean joint venture partner in the project.

Pfizer wins case over Viagra patent

PHARMACEUTICALS

PFIZER said it had won a patent infringement case against the US unit of Teva Pharmaceuticals Industries, preventing Teva from launching a generic version of Pfizer's erectile dysfunction drug Viagra until October 2019. Pfizer, the world's biggest drugmaker, said litigation on the same patent remains pending against other generic companies, but no trials are scheduled in those cases.

17pc rise in visitors to Jameson Distillery

TOURISM

IRISH Distillers were boosted yesterday by the news that the number of visitors to the Jameson Distillery increased by nearly a fifth during the first half of the year. The company said 107,000 people came to the distillery between January and June, an increase of 17pc year on year.

Irish Independent

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