Young people are top online bankers
ALMOST eight out of 10 young people use online banking at least once a week. And half of those surveyed use online banking several times a week, a report prepared for National Irish Bank shows. And people between the ages of 18 and 27 are careful with their euros, with half never allowing their account to be overdrawn.
Exploration firm in Algeria well success
PETROCELTIC International, the Irish exploration company focused on Algeria, said that the third well in its current appraisal campaign on the Ain Tsila gas discovery was drilled to a total depth of 2,085 metres and has successfully logged gas in the main Ordovician reservoir. "Initial results are very encouraging," chief executive Brian O Cathain said yesterday.
Cisco Systems eyes 10,000 job cuts
Cisco Systems, the world's largest networking-equipment company, may cut as many as 10,000 jobs, or about 14pc of its workforce, to revive profit growth, according to sources. Cisco chief executive John Chambers is slashing jobs and exiting less-profitable businesses as competitors such as Juniper Networks and Hewlett-Packard take market share. (Bloomberg)
Thomas Cook profit hit by market unrest
THOMAS Cook, Europe's second-biggest travel company, said its full-year profit would be lower than hoped as tough conditions in Britain and unrest in the Middle East and North Africa hit trading. The 170-year-old firm said it expected full-year EBIT of £320m (€363m), compared with a market consensus for around £380m (€432m).
BMW optimistic on global sales outlook
BMW, the world's largest maker of luxury vehicles, has raised its profit and sales forecasts, saying strong second-quarter demand across global auto markets will prevail in the next months. BMW's automotive division now anticipates that earnings before interest and taxes will exceed 10pc of revenue in 2011 on a sales of more than 1.6 million cars.