FIVE jet pilots used smoke plumes to script “Welcome to the 37th Ryder Cup” in the sky — officially re-igniting America and Europe’s intense biannual golfing rivalry.

The US government formally announced today that it was taking control of mortgage giants Fannie Mae and Freddie Mac in an effort to avert the potential for major financial turmoil.

SEVENTY-FIVE jobs are to go at credit card payments processor Euroconex’s operations in Dublin and Arklow, Co Wicklow.

Stocks in the United States extended their rally with modest gains today.

Billy Saunderson, chief executive of card payments company EuroConex, talks to David Clerkin.

Bank of Ireland is to sell its 50% shareholding in EuroConex Technologies Limited for €40m to a European affiliate of NOVA Information Systems (NOVA).

Wall Street retreated modestly in a day of light trading today, with the market in search of a direction following the Dow Jones industrials’ brief foray above 10,000.

Wall Street extended its gains into a fourth straight day today after three economic reports gave investors assurance the economic recovery was firmly under way.

Better-than-expected profits from Motorola lifted Wall Street higher today as investors grew more optimistic that third-quarter earnings in general will be strong. The Dow Jones industrials rose nearly 90 points to a 16-month high.

IBM will report net income of 98 cents a share on sales of $21.4 billion, up from three cents and $19.65 billion in the same period a year earlier, according to the average estimates of analysts polled by Thomson.

Wall Street pushed higher today as a drop in jobless claims and an upbeat outlook from IBM boosted US investors’ hopes that the economy was improving.

Inertia settled over Wall Street today, leaving stocks little changed as the market waited for news indicating allied forces were making progress in Iraq. The major indexes closed slightly lower.

Investors finally found a reason to go back to Wall Street today irresistible prices following five straight days of selling. Stocks posted solid gains, lifting the Dow Jones industrials up more than 100 points.