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Stocks leap on economy and jobs newsWall 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. Read more | Comments
Budget airline suspends flights in cash crisisLow-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 positiveThe ISEQ index of Irish shares was up today, climbing 114.75 points to 4494.95. Ryanair calls for dismissal of Aviation RegulatorRyanair, 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 HighwayLiverpool 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 filmingBlockbuster 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 FTSEStronger banking stocks helped shelter the London market from concerns about the impact of tropical storm Gustav today. Elan reduces losses as Tysabri boosts revenuesDublin-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 growthDiageo 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 €22mAer 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 revenueEircom 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 missionTrade and Commerce Minister John McGuinness to lead a trade mission to Turkey in October. Ryanair to close two Cork-UK routesRyanair has announced the closure of two of the seven routes it operates from Cork. Stansted strike called offA 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 IrelandFund 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 IrelandHeineken 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 giantThe 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 jittersTaylor 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 profitsBookmaker 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 €56mThe food group Glanbia has announced a rise in its half-year profits. ISEQ dips slightly in morning tradingThe 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. M&S suspend redundancy whistleblowerA 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 €24.4mInsurance 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 tradingA leading travel agent in the west of the country has ceased trading with immediate effect. IL&P announce 7% fall in profitsIrish 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 ISEQThe 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 closeA 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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