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Ryanair blocks Aer Lingus bid to reduce holding
Ryanair defeated a resolution at Aer Lingus's annual general
meeting yesterday that could have had the effect of diluting its
25.2 per cent shareholding in its rival. p
Aer Lingus on course for 'mid teens' increase in profits, says Mannion
Aer Lingus chief executive Dermot Mannion said the company was on target to achieve a "mid teens" increase in its operating profit in 2007, in spite of recording a "small" operating loss in the first six months of this year. p
Slowdown in building blamed for increase in jobless
A slowdown in the construction sector and a loss of competitiveness were blamed for a higher than expected rise in the number of people claiming unemployment benefits last month. p
Other Stories
German tax cuts aimed at helping business
Corporate tax in Germany will fall from 39 per cent to just under 30 per cent after a major tax reform was approved yesterday by the upper parliamentary chamber, the Bundesrat. pStandard Life shareholders to get small windfall next week
Standard Life shareholders are in line for a small windfall next week as the former mutual insurer marks its first anniversary on the stock market. pMusgrave expands in North with acquisition of food wholesaler
Cork-based retailing group Musgrave, which owns the Centra and Supervalu brands, has expanded its Northern Ireland presence with the acquisition of food wholesaler J&J Haslett for an undisclosed sum. pFyffes moves into export business
Tropical fruit giant Fyffes has added another string to its bow, using its expertise in importing temperature-sensitive, time-critical shipments of bananas and pineapples from the tropics to offer a new shipping service to Irish exporters. pXbox 360 repairs to cost over €700m
Microsoft is to absorb a bill of more than $1 billion (€734 million) to fix "an unacceptable number of repairs" to its Xbox 360 video game consoles, the company said yesterday. pMurdoch on verge of €3.6bn Dow deal
Dow Jones has dismissed as premature a report that Rupert Murdoch has succeeded in his $5 billion (€3.67 billion) bid to buy the company, which owns the Wall Street Journal. The deal is expected to go ahead next week, however, after the two sides reached agreement this week on safeguards to protect the paper's editorial independence. pEU urges Sarkozy to change budget plans
Eurogroup finance ministers and the European Commission will urge French president Nicolas Sarkozy to commit to real structural economic reforms when he outlines his budget plans to them on Monday, EU sources said. pFlatley facing Dublin legal action over fees
Millionaire dancer Michael Flatley faces a legal action in Dublin from his former publicist Geraldine Roche in a dispute over fees. This follows a court action in London from his former business manager Martin Flitton. pWindfall for tour operators after battle over VAT
Irish tour operators are in line for a windfall after the Revenue Commissioners conceded a 10-year battle over VAT. pUTV to grow radio portfolio with national station launch
Belfast-based broadcaster UTV will launch a national digital talk radio station in the UK in the summer of 2008. pIn Short
A round-up of today's other stories in brief. pFinancials trade well on low volumes
Dublin report The Iseq index of Irish shares climbed 1 per cent yesterday, as the financial stocks enjoyed good fortunes. p
