Previous Day
Funding issue to dominate credit union meeting
The Irish League of Credit Unions faces a difficult meeting today when delegates at a special conference will be asked to reform its funding structure. p
Noel Smyth to sell 26% Dunloe stake to Paschal Taggart
Mr Noel Smyth is to withdraw his offer for Dunloe Ewart and sell his 26 per cent stake in the company to Mr Paschal Taggart for a profit of €30 million. p
Byrne gives control of property companies to wife
Property developer Mr John Byrne (82) has handed control of his Irish companies to his wife, Ciara (60). The bulk of the shares in the Byrne companies have been held by a Cayman Islands trust since the early 1970s but the 10 controlling A shares have been held by Mr Byrne, his wife and their solicitor. p
McCreevy counts cost of a gamble
The Government will collect €20 million less in betting taxes this year compared to 2001, putting additional pressure on the public finances, new figures show. p
Other Stories
Up to 600 jobs under threat at B of I
Concern that the Bank of Ireland is about to export up to 600 IT jobs to India was expressed yesterday by the Irish Bank Officials' Association. pBeleaguered Allfirst registers profits rise of 8%
Profits at AIB's US subsidiary, Allfirst, rose by 8 per cent to $82.8 million (€82.1 million) in the nine months to the end of September. pCapellas takes over at WorldCom
Mr Michael Capellas has vowed to maintain WorldCom's independence after taking over as chairman and chief executive of the bankrupt telecoms group. pShared services sector advised to be more competitive
The Republic's shared services industry will begin haemorrhaging jobs to low-cost economies in Eastern Europe and Asia unless radical and imaginative steps are taken to arrest wage inflation, rein in costs of living and overhaul sub-par infrastructure, an expert on the sector has warned. pNew bid for SMG flagged
British media reports have suggested that another bidder has emerged for the Scottish Media Group's stable of newspapers which Sir Anthony O'Reilly's Independent News & Media is also chasing. pOvoca reduces losses and decides to abandon Galway joint venture
Exploration group Ovoca Resources has reduced losses in the year to the end of February last. The company operates in mineral exploration and energy storage in Ireland. pUp to 60% of working people feel job causes illness
Up to 60 per cent of working people feel their job makes them ill, an increase that corresponds with unprecedented changes in the nature of work in the past 20 years, a leading occupational psychologist has said. pEquitable Life warns its with-profits policyholders of 29% drop in pensions
Troubled mutual Equitable Life, which has 20,000 members in Ireland, yesterday warned with-profits annuitants that their pensions were set to drop by up to 29 per cent. pMeeting to focus on global fraud
Amid warnings that money laundering is reaching epidemic levels around the world, security and banking experts will meet in Dublin next month to debate the deepening link between cross-border financial fraud and international terrorism. pCommission targets 'open skies' ruling
The European Commission is set to call for important new powers, including the right to scrutinise international agreements on competition grounds, in an aggressive response to a recent court ruling on "open skies" aviation deals. pECB takes more relaxed view of euro-zone inflation
Several key European Central Bank officials voiced their ease over the outlook for euro-zone inflation yesterday, further raising the prospects of an interest rate cut as early as next month. pREO gets approval for share buyback
Real Estate Opportunities (REO) has received shareholder approval for a share buyback but its proposal to re-organise itself as a property investment firm was rejected at an extraordinary meeting yesterday. p
