You are viewing the content for Saturday 20 October 2012

BUSINESS

Banking's 'corrosive culture' must end

The corrosive culture that pervades the Irish banking sector must be eliminated, the deputy governor of the Central Bank Matthew Elderfield declared yesterday in a key address at UCC.

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INM sacking case told O'Brien's spokesman sent 'threatening' texts

Former Independent News and Media executive Karl Brophy told the High Court yesterday he found a series of text messages from Denis O'Brien's spokesman to be "bizarre and threatening".

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AIB Project Pivot offload bid revived

AIB's attempt to offload a portfolio of British-based property loans valued at €245m has been revived after an earlier deal collapsed at the start of the week.

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PCH revenue increases by 72%

Cork-headquartered PCH International generated €510m ($710m) in revenue in 2011 — a 72% increase on the previous year.

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Third-quarter profits at McDonald's fall 35% as sales slow in US outlets

McDonald's, the world's largest restaurant chain by sales, said third-quarter profit fell 3.5% as sales growth slowed at US stores.

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Manufacturing growth slows

The annualised rate of increase in manufacturing prices dipped last month, but 2012 is still likely to see an overall significant increase on last year's levels.

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Google profits under pressure

Google's profit and sales are under pressure as the operator of the largest search engine struggles to wring advertising revenue from the growing number of people surfing the web on tablets and smartphones.

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Markets retreat across Europe

European markets experienced a pull back yesterday as stocks across all markets and most sectors lost momentum after a strong beginning to the week.

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Arena builder doubles profit to €4.6m

The builder of the O2 Arena in Dublin last year bucked the trend in the construction industry by increasing revenues and more than doubling profits to €4.6m.

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AGRI BUSINESS

Muldoon lays it on the line for banks

Bankers must have left their federation lunch this week with a bad taste in the mouth after Central Bank regulator Fiona Muldoon lambasted them for failing to adequately deal with the mortgage debt crisis, writes Kyran Fitzgerald

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Dairy is 'optimum' business choice, agricultural consultant tells seminar

Dairy farmers are more likely than those in beef, pork, and tillage to answer Ireland's call for agri-food expansion, Cork-based agri-business consultant Michael Brady has said.

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Africa a beacon of hope in a darkened world

If you are looking for some cheer in a pretty gloomy world, consider the growing consensus among some of the world's smartest money that the next big emerging market may be Africa.

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