THE Government has been accused of abandoning a once thriving manufacturing town which lost its last major factory yesterday.

Two glaring signs that the US economy remains in a deep slump sent stocks reeling today.

ELAN has taken legal action against a US company over its alleged misuse of a drug patent currently owned by the Irish pharmaceutical firm.

US stocks climbed today as strong April retail sales and a steep drop in oil prices alleviated investors’ worries about a greater-than-forecast jump in labour costs.

US stocks managed modest gains today as investors saw a series of corporate acquisitions as a chance to pick up bargains in an otherwise difficult market. Another record high for oil prices muted the gains.

A late rally fed by falling oil prices pushed US stocks higher today, although Wall Street’s mood remained tentative amid uncertainty about the economy.

A healthy start to the session on Wall Street helped to keep the London market in the black today.

Eastman Kodak Co., the world’s largest photography company, said it would close processing labs in Spain and Norway and scale back one in Switzerland, cutting 313 jobs, as demand for traditional photos declines.

Professor Joyce O'Connor and Nicky Hartery have joined CRH as non-executive Directors.

Wall street's Blue chip Dow Jones Industrial Average yesterday underwent its first shake-up for almost four years, evicting three major US companies: AT&T, Eastman Kodak and International Paper.

World's number one photographic film manufacturer, US group Eastman Kodak, has filed a lawsuit against Sony, accusing the Japanese giant of infringing 10 of its patents on digital photo technology.

Photography company Eastman Kodak has agreed to buy two businesses for $150m (€121m) from German printing machine group Heidelberger Druckmaschinen.

Uncertainty is hanging over hundreds of jobs in the UK after Eastman Kodak said it was cutting its global staff by 15,000.

Stocks drifted lower in choppy trading in New York today as investors sifted through economic reports and corporate earnings, but Eastman Kodak surged on restructuring news.

Eastman Kodak is to buy Scitex Digital Printing, a unit of Scitex Corporation specialising in ultra-high-speed digital printing technology, for $250m (€211.84m).

Wall Street had a moderate rebound today as strong earnings from 3M and Citigroup helped investors overcome their disappointment in the latest Index of Leading Economic Indicators.

Eastman Kodak have said it is to cut its interim payout to shareholders in favor of investments in the digital markets.

Eastman Kodak rose by US$1.88, or 6.7%, to a two-and-a-half-month high of US$29.77, becoming the biggest percentage gainer within the Dow industrials.

THE Country Club of Rochester, the venue for this week’s US Open Championship, holds a special place in the hearts and minds of Irish golfers.

A batch of mixed earnings reports flustered Wall Street yesterday as investors searched in vain for strong evidence of a resurging economy by year’s end. Stocks lurched up and down before ending the session modestly higher.

Photography giant Eastman Kodak is axing up to 6,000 jobs as it struggles with a slump in film sales blamed largely and the rapid growth of digital cameras and a sluggish US economy.

While there were strong gains early in the week, profit-taking after recent rallies and fears about upcoming earnings reports led to a fall in the major markets on Wednesday and Thursday.

THE town of Youghal in Co Cork has been industrially undermined again, with the shock announcement yesterday of 234 job losses at the Technicolour Home Entertainment Services (THES) factory.

A total of 200 jobs are to be lost through the closure of a compact disc factory in Youghal, Co Cork.

The London market tumbled to its lowest close for four months today after heavyweight oil, banking and pharmaceutical stocks slid.

The Dow Jones industrials have fallen to their lowest level in nearly six weeks.

War fears overshadowed encouraging economic reports today on Wall Street, sending stock prices lower for a third consecutive day. The Dow Jones industrials fell to their lowest level in nearly six weeks.

Photography giant Eastman Kodak is cutting up 1,700 jobs worldwide as it struggles to rebound from a two year slump in film sales.

US INVESTORS focused on IBM yesterday afternoon as they shopped for blue chips and techs on the heels of bullish guidance from Big Blue, Nokia and Eastman Kodak.

Another wave of positive earnings news from companies such as IBM propelled stocks higher today, giving Wall Street its fifth advance in six sessions. The Dow Jones industrials rose nearly 240 points.

US stocks skidded at midday yesterday as a downgrade of General Motors, accounting questions at Bristol-Myers Squibb and an increase in new jobless claims trumped the improved guidance out of Wal-Mart Stores and Eastman Kodak.

A change in business strategy at Tyco and lacklustre earnings at other companies stymied Wall Street today and left stocks barely changed following some wide price swings.

The Dow Jones was higher midsession while the Nasdaq was down along with confidence in technology stocks ahead of most earnings reports, dealers said.

Caution dominated stock trading in New York today as investors made modest purchases of blue chips but also collected profits, limiting the market’s rise and giving the tech sector a losing session.

Eastman Kodak is cutting between 3,500 and 4,000 more jobs - that's up to 5.1% of its workforce.

Stocks advanced modestly in New York yesterday, overcoming a choppy session in an encouraging sign of stability following an earnings warning by Cisco Systems.