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  • Elan shares soar 18.6% on Alzheimer's drug news

    Shares in drugs company Elan jumped by 18.6 per cent yesterday after it announced plans to initiate phase three clinical trials of a drug that is being developed with Wyeth Pharmaceuticals to treat Alzheimer's disease. p

  • INM's takeover bid suffers setback

    Independent News & Media's bid to take over Australian media group APN has suffered a major setback after a key shareholder, Perpetual Investments, said it would vote against the offer of $6.20 a share. p
Other Stories

  • Irish e-firm to buy rival for €13.4m

    Irish electronic-learning company ThirdForce is to buy MindLeaders.com, a privately US-based rival, for $18 million (€13.4 million). p

  • Ryanair boss criticises airport redundancy plan

    Ryanair chief executive Michael O'Leary yesterday described as "off the wall" the redundancy packages recently negotiated as part of the €36 million survival plan for Shannon airport. p

  • EMI agrees Terra Firma takeover offer

    Terra Firma, the private equity group run by Guy Hands, looks set to be the new owner of EMI after the music publishing group behind Lily Allen and Coldplay agreed a £2.4 billion takeover. p

  • Bid to stop Treasury 'spoiling' sale

    An Allied Irish Banks trust company has initiated High Court proceedings seeking to stop development company Treasury Holdings "spoiling" a proposed €64 million sale of the majority shareholding in the Northside Shopping Centre in Coolock, Dublin. p

  • Ombudsman faces Quinn Direct legal action over ruling

    Insurance company Quinn Direct has initiated a legal challenge to the powers of the Financial Services Ombudsman to direct the company to refund certain charges imposed on customers over a six-year period. p

  • Trade growth pushes Britvic profits up 10%

    Strong volume growth in its soft drinks business, allied to better realised prices and cost savings, have pushed up interim profits at Britvic. p

  • Blackstone to raise $7.8bn in China deal

    Executives at private equity giant Blackstone, led by founders Stephen Schwarzman and Pete Peterson, will receive $4.5 billion from the buyout group's listing after a $3 billion investment by the Chinese government prompted them to nearly double the size of the offering to $7.8 billion. p

  • Boots Ireland to pay above national wage

    Boots Ireland has agreed to pay its 1,400 shop staff wage increases significantly above those agreed in the national wage agreement, Towards 2016. p

  • Healy consortium wins 10-year youth radio licence

    A consortium of investors headed by former Newstalk chief executive Dan Healy and Deborah Fagan, former chief financial officer of Denis O'Brien's Communicorp, was yesterday awarded a 10-year youth radio licence for the midlands/north-east by the Broadcasting Commission of Ireland (BCI). p

  • Economist warns of housing 'bust'

    Up to 5 per cent could be wiped off house prices this year as the market heads in the direction of a "bust", an economist has claimed. Jerome Casey, who worked for several years in the building industry, believes house prices will fall by up to 5 per cent this year and by a further 5 to 10 per cent next year. p

  • Irish Life to review cases of ex-public servants

    Irish Life has agreed to investigate the cases of former public servants who believe they have lost out on retirement benefits because they were not fully informed of their rights. p

  • S&P index tops its record closing price

    The S&P 500 index, a broad barometer of large US stocks, broke above its 2000 record closing high yesterday, nearly five years after the stock market bottomed in the wake of an economic recession and corporate scandals. p

  • In short

    Today's other stories in brief p

  • Elan surges as drug trials go ahead

    Market report: Pharmaceutical group Elan was the story of the Irish market yesterday and, for a change, the news was good. p
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