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Business Cork : Last 7 Days News

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Stocks leap on economy and jobs news

Wall Street soared higher today after a better-than-expected reading on the gross domestic product and a drop in jobless claims gave investors some reassurance that the economy is holding up.

 

Budget airline suspends flights in cash crisis

Low-fare transatlantic airline Zoom, which flew from five UK airports, tonight suspended all operations and cancelled all flights after running into financial difficulties.

 

ISEQ moves in to positive

The ISEQ index of Irish shares was up today, climbing 114.75 points to 4494.95.

 

Ryanair calls for dismissal of Aviation Regulator

Ryanair, today called for the dismissal of the Aviation Regulator following yesterday’s disclosure that yet another travel agent/tour operator (Ronane Travel/Great Escapes), licensed by the Aviation Regulator, has ceased trading, stranding hundreds of Irish passengers overseas.

 

LV agrees deal for Highway

Liverpool Victoria bolstered its general insurance arm today with a £150m (€186.5m) takeover deal for the owner of insurance broker Hero.

 

Pinewood profits boosted by Bond filming

Blockbuster film shoots such as the new James Bond film “Quantum of Solace” helped boost half-year profits at film studios Pinewood Shepperton today.

 

Banking stocks help shelter FTSE

Stronger banking stocks helped shelter the London market from concerns about the impact of tropical storm Gustav today.

 

Elan reduces losses as Tysabri boosts revenues

Dublin-headquartered pharmaceutical company Elan has said its total revenue increased by 18% to $352.1m (€238.5m) in the first half of 2008, compared to the same period in 2007.

 

Diageo buoyed by Guinness growth

Diageo today said high-profile advertising helped Guinness perform strongly in the last year, as the drinks firm delivered underlying profits growth of 9%.

 

Fuel costs drive up Aer Lingus losses to €22m

Aer Lingus has reported operating losses of more than €22m for the first half of this year. A €2.6m profit was made in the same period last year.

 

Eircom reports 4% rise in revenue

Eircom has reported revenue growth of 4% to just over €2bn in the past year.

 

UK house prices plunge 10.5%

UK house prices are falling at their fastest rate for nearly 18 years as potential buyers stay away from the market, figures showed today.

 

Minister to head Turkish trade mission

Trade and Commerce Minister John McGuinness to lead a trade mission to Turkey in October.

 

Ryanair to close two Cork-UK routes

Ryanair has announced the closure of two of the seven routes it operates from Cork.

 

Stansted strike called off

A second planned strike by workers who operate luggage scanners at England's Stansted Airport was called off today following an offer of fresh talks aimed at resolving a row over pay.

 

Financial services firm considers quitting UK for Ireland

Fund management firm Henderson renewed fears today of a big business tax exodus from the UK after confirming it was considering moving its tax base to Ireland.

 

Heineken increases turnover by 3% in Ireland

Heineken Ireland have said their sales volumes outperformed the declining market place for the first six months of the year.

 

Tote links up with online betting giant

The State-owned gambling system at Irish race courses is today linking up with the world’s biggest online betting exchange.

 

FTSE steady despite construction sector jitters

Taylor Wimpey shares declined 6% today after the UK’s biggest housebuilder failed to end uncertainty about its financial position.

 

Paddy Power reports 10% rise in pre-tax profits

Bookmaker Paddy Power has reported a 10% rise in pre-tax profits for the first six months of the year.

 

Glanbia half-year profits up 16% to €56m

The food group Glanbia has announced a rise in its half-year profits.

 

ISEQ dips slightly in morning trading

The Irish stock Exchange has had a modest fall this morning as financial giants FBD Holdings and Irish Life and Permanent reported reported profit decreases today.

 

Kingspan profits fall 20%

Kingspan have reported pre-tax profits of €83.9m in the first half of this year, showing a fall of €108.1m for the same period in 2007.

 

Asian markets close mixed

HONG KONG: The Hang Seng index closed up 408.1 at 21464.7.

 

M&S suspend redundancy whistleblower

A worker at Marks & Spencer who “blew the whistle” on plans to cut redundancy pay for the firm’s 70, 000 staff has been suspended and is facing a disciplinary hearing, it was revealed today.

 

FBD profits fall €24.4m

Insurance giant FBD Holdings have report a fall of nearly €25m in operating profits in the six months up to June 30, 2008, as compared to the same period last year.

 

Mayo travel agent ceases trading

A leading travel agent in the west of the country has ceased trading with immediate effect.

 

IL&P announce 7% fall in profits

Irish Life & Permanent have announced Group pre-tax operating profits of €300m for the first half of 2008 up to June 30, down 7% on H1 2007 profit of €321m.

 

Gains for ISEQ

The ISEQ index of Irish shares gained some ground this evening up 26 points to 4347.27 at market close.

 

A volatile day drags FTSE down at market close

A volatile session for the FTSE 100 Index saw blue chips claw back the worst of their losses today as a bright start on Wall Street cheered investors.

 
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