A US tech company will open a new power electronics research lab in Cork today as part of a major expansion of its Irish operation.

An American aerospace technology giant has established a cutting-edge European research centre in Cork to develop smart technology systems for the aircraft of the future.

A joint initiative between DCU, NUI Galway, UCC and UCD focusing on the data analytics called Insight, is hoping to create 300 jobs through 12 planned spinout companies.

A letting of an office floor to growing research company UTRC in the rebranded and upgraded Penrose Wharf Business Centre puts the building vacated last year by Siemens back onto the market competitively.

UP to 195 jobs are under threat at UTC Fire and Security Plant, at Citiwest in Dublin.