You are viewing the content for Saturday 21 April 2012

BUSINESS

O'Reilly payout sparks INM row

Denis O'Brien's representatives on the board of Independent News & Media are understood to be reviewing the issue of Gavin O'Reilly's severance package from the group.

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Brewery site set to fetch €2.1m

Guinness has offered to sell the site of Ireland's oldest brewery — St Francis Abbey Brewery — to Kilkenny City for €2.1m.

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ESB to invest €900m in British gas plant

The ESB is to invest €900m in building a 1,500MW gas-fired power plant in Britain.

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McDonald's first-quarter profit rises nearly 5%

McDonald's, the world's largest restaurant chain, reported a 4.8% gain in first- quarter profit as new menu items such as Chicken McBites attracted US consumers.

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Higher rates 'won't bolster banks'

Raising interest rates is not the best way to deal with the fallout from erratic property lending, the deputy governor of the Central Bank has said.

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Market static on quiet day

Yesterday was a quiet day from a macro announcementsperspective and given that markets have been highly focused on the macro of late, markets in turn were relatively quiet.

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General Electric tops profit forecasts

General Electric Co topped Wall Street's profit and revenue forecasts for the first quarter, helped by strong demand for energy equipment and railroad locomotives — after taking a $200m (€152.5m) hit on its Irish mortgage business

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Disney film boss steps down after losing €150m on sci-fi flop

Rich Ross, chairman of Walt Disney Co's film unit, has resigned following the company's $200m (€150m) loss on the science-fiction picture John Carter, possibly the biggest ever for a single movie.

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Firm's landbank value down 96.5%

A Cork building firm has written down the value of its landbank by 96.5% or €144m contributing to losses of €130m over the past two years.

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AGRI BUSINESS

Crossroads for credit union movement

For years they have helped promote the values of thrift in local communities but the credit union sector is fragile due to some poor lending practices in the boom and so many debtors being unable to repay loans, says Kyran Fitzgerald

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Ireland-China food hub to be launched

Bord Bia yesterday launched the Ireland-China Food Hub and the Ireland-China Food Network, capping an excellent week for relations between the two countries.

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