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State Street on the up

US financial services company State Street reported a strong 5pc growth in the second quarter.

The company, which employs 2,000 people here, said that there was a notable increase in its investment management and servicing business.

State Street, which has operations in Dublin, Kilkenny, Naas and Drogheda said earnings on an operating basis climbed to $464m (€360m).

The Boston-based firm opened a new headquarters in Dublin's docklands in March, a decision chief executive Jay Hooley said signalled the company's commitment to Ireland. On an operating basis, total sales increased 6pc to $2.16bn.