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BUSINESS

'Big bazooka' plan could cut cost of Irish borrowing

The cost of Ireland's borrowing could be significantly lowered over the next 15 months by the ECB's 'big bazooka' plan to buy sovereign bonds as the country prepares to return to the markets.

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Bad news for tracker mortgages as ECB holds interest rate at 0.75%

The decision by the ECB to hold the main interest rate at 0.75% will come as bad news for tracker mortgage holders, although it is highly unlikely it would have made any difference to holders of standard variable rate mortgages.

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Noonan to push for debt deal

Finance minister Michael Noonan will meet his counterparts in France, Germany and Italy individually next week as Dublin steps up its push to strike a deal on easing the terms of its costly bank bailout by next month.

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ECB's decision on unlimited bond purchases hailed as 'game changer'

The ECB decision to make unlimited purchases of three-year bonds for stressed eurozone member states is being hailed as a game changer, although it does not guarantee the euro will survive.

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State borrowing cost 'five times too high'

The cost of government borrowing compared to Germany is five times higher than it should be — given the strength of the economy — because of instability in the eurozone, according to the OECD.

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IMF backs ECB bond buying

The IMF yesterday hailed the ECB's decision to launch a new and potentially unlimited bond-buying programme to help struggling eurozone countries lower their borrowing costs and said it was prepared to cooperate as much as it can.

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Recruitment firm's profit up 39%

Revenues at recruitment company CPL increased by nearly a quarter to €290m for its most recent financial year.

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United Drug to delist in October

United Drug will delist from the Irish Stock Exchange on Oct 3 in order to have all its shares traded through the London Stock Exchange in a bid to gain admission to the FTSE UK Index.

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Property sale helps port profit rise 168%

The Shannon Foynes Port Company reported a 168% increase in pre-tax profits to €2.96m in 2011 from €1.1m a year earlier, boosted by a once-off €1m property sale.

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Aer Lingus passenger numbers rise

Aer Lingus recorded an increase in passengers carried, up 11% on the figures from last month and beating Ryanair's 9% monthly passenger increase.

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Group launches awards aimed at celebrating role of small business

The Small Firms' Association launched its business awards yesterday aiming to celebrate the achievements of small business in Ireland.

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Markets rally on Draghi details

European markets rallied yesterday after ECB president Mario Draghi announced details of the bank's plan to launch a new, potentially unlimited bond-buying programme to assist struggling eurozone countries in tackling their borrowing costs.

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Film industry says jobs will be lost if tax relief is scrapped

There could be significant job losses if the Government scraps Section 481 tax relief for television and film production in Ireland, the Audiovisual Federation believes.

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TV company raises staff numbers to 850

Employee numbers at one of Ireland's best-known TV and movie production companies, Octagon Films, have increased to 850 as a result of new series of The Borgias and Vikings currently in production.

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Kentucky Barrel Ale set to make its Irish debut at craft beer festival

Kentucky Bourbon Barrel Ale, a hand-crafted Irish-American beer, is making its debut at today's Irish Craft Beer festival in the RDS, in Ballsbridge, Dublin.

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Retailers 'playing Russian roulette' with farm viability to retain margins

IFA president John Bryan has accused retailers of playing Russian roulette with farm viability in the interests of preserving their own fat margins.

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Take a machete to local goverment, not health

On Tuesday I met twoUS investors in Dublin to discuss the state of the economy and to try and flesh out what recovery prospects are like.

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