BUSINESS - BREAKING NEWS

Hotel prices across Ireland have increased for the fourth consecutive year, new research has shown.

TODAY'S BUSINESS - IRISH EXAMINER

Business report: The morning business briefing

Here’s a run down of today’s business headlines.

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Bad weather sees FBD profit slump €4.5m

Insurance customers are set to foot the bill for difficult market conditions last year which cost insurer FBD badly and saw it post a €4.5m pre-tax loss.

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Bank of Ireland raises €750m through unsecured bond

Bank of Ireland raised €750m through a senior unsecured bond at a yield of 1.273%.

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Grafton strengthens UK presence with TG Lynes buy

Dublin-based builders’ merchants group Grafton has broadened its presence in the UK via the purchase of niche company TG Lynes for an undisclosed sum.

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Fishtree lands big one: A €2.7m deal

An Irish start-up shaking up the education technology sphere on both sides of the Atlantic has landed a $3m (€2.7m) deal that will allow it expand its reach in the US.

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Russian dairy opportunity

Increased Russian imports of dairy products represent a post-quota opportunity for Ireland’s milk processing industry, according to one Bord Bia analyst.

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Egyptian financier wins race to buy Arab Dairy

Egyptian financial services firm Pioneers Holding has won the race to buy Egypt’s Arab Dairy for €30m, beating a rival offer from Al Nour, the market regulator said.

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Eurozone consumer prices fall less than expected

Eurozone consumer prices fell less than economists forecast last month, offering some relief to the ECB as it prepares to put its unprecedented bond-buying program into action.

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Tullow Oil value down £200m

Tullow Oil lost over £200m (€274m) of its market value yesterday, hit by concerns that a boundary dispute between Ivory Coast and Ghana could delay a project off the coast of west Africa.

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Office block fetches €50m from Hibernia Reit

Publicly-quoted property investment fund, Hibernia Reit has acquired a prominent city centre office block in Dublin, for nearly €50m, marking its second major investment inside a month.

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Bord na Móna launches €115m windfarm on bog

A bog area used by Bord na Móna in the Midlands has been converted into a €115m wind farm with enough power to generate electricity for 45,000 houses.

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Cashpile at Sheridan firm triples to €350,000

The cash-pile at the firm owned by movie director Jim Sheridan more than tripled in 2013 to €352,608.

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Greece looks to reassure markets it can fund itself

Greece’s government sought to assure its creditors and investors yesterday that it can cover its funding needs this month, including repaying a €1.5bn loan to the IMF.

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Factory activity on high after slow start

Irish manufacturing activity climbed to a 15-year high last month after an initial slow start to the year, with staff hiring levels reaching a near 17-year high.

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28,500 retail units vacant in Ireland

The number of commercial units lying vacant across the country increased to just shy of 28,500 at the tail-end of 2014 despite the quickening pace of economic recovery.

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Employment figures put economy on firm footing

Labour market figures published by the CSO last week for the final quarter of 2014 contained further good news on the Irish economy, writes Oliver Mangan.

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Telecoms chiefs call for pragmatism on net neutrality

Europe’s two biggest telecom operators have called on regulators to be flexible and pragmatic in finalising rules to protect the openness of the internet, to allow them to give priority to certain kinds of data traffic on their networks.

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David Cameron in pledge to first-time UK buyers

British prime minister David Cameron has pledged to double the number of homes built for first-time buyers by the end of the next parliamentary term in a bid to tackle Britain’s housing shortage.

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