Irish surface technology company Enbio has signed a €500,000 contract with the European Space Agency (ESA) to produce a “sunscreen” to protect satellites as they travel in space.

If an asteroid hit Earth it would create a massive crater, potentially leave the whole planet in the dark for a year or more, destroy crops and unleash tsunamis.

Satellite operator Inmarsat pushed up profits today as its first results as a listed company benefited from strong demand among maritime users.

Airbus to Eurofighter company EADS posted a €298m loss last year and plans to cut 1,700 additional jobs to help put it on an even financial keel.