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Lynn's Bulgaria investors given promissory notes
INVESTORS WHO paid deposits to missing solicitor Michael Lynn's company Kendar for properties in Bulgaria received promissory notes for their investments, according to a former manager who worked in Kendar's Dublin office last autumn. p
Judge rules Lynn must repay loans of €1.3m
A HIGH Court judge has made an order requiring missing solicitor Michael Lynn to repay loans of some €1.3 million granted to him to help buy four apartments in Dublin for investment purposes. p
Leading advertising agencies agree to merge
ADVERTISING AGENCIES the McConnell Group and AFA O'Meara have agreed to merge. The pair had combined profits of about €4 million from turnover of €89 million in 2007 and the merger will make the new entity the largest advertising firm in Ireland. p
Other Stories
US investment guru warns Irish economy is now a bubble
US INVESTMENT guru Jim Rogers has warned that the Irish economy has turned into a bubble and that people are going to suffer over the coming years. pDigiweb set to invest €30m in UK
THE DUNDALK broadband and telecoms provider Digiweb will invest €30 million in the UK market over the next five years, having won two national wireless broadband licences there. pTroubled Getty agrees to takeover bid from private equity firm
STRUGGLING PHOTO and video supplier Getty Images has agreed to a takeover bid of $2.1 billion (€1.4 billion) from private equity firm Hellman & Friedman. p'Grand Theft Auto' makers reject $2bn takeover offer
THE MAKERS of the top-selling
Grand Theft Auto video games, Take-Two Interactive
Software, posted a record gain in Nasdaq trading yesterday after
Electronic Arts made a $2 billion takeover offer for the
company. pVisa says it will raise $19bn from IPO
VISA, THE world's biggest credit card network, said it could raise nearly $19 billion (€12.8 billion) from a long-awaited public offering (IPO) - a figure that would make it the largest initial public offering in the United States. pNewcourt to pay £17m to develop London site
THE QUOTED support services group Newcourt has agreed to spend £17 million (€23 million) on a site in London for development as student accommodation by its subsidiary Ely Property. pCentra revenues climb more than 15% as retail roll-out adds value
SALES AT convenience store operator Centra grew by 15.1 per cent to €1.38 billion in 2007. pPrimark on track to increase sales by 4% in first half of fiscal year
DUBLIN-BASED BUDGET fashion chain Primark, which trades as Penneys in the Irish market, is on track to increase its like-for-like sales by 4 per cent in the first half of its fiscal year, its parent, Associated British Foods (ABF), said yesterday. pIIB unveils offset mortgage product
IIB HAS launched what it describes as a unique addition to the so-called offset mortgage market which will allow customers to reclaim capital and interest overpayments on their home loans. pAgreement to rescue ISTC to be circulated
AN EXECUTED investment agreement to rescue International Securities Trading Corporation (ISTC) is to be circulated to its creditors within days and the Competition Authority has also been informed, the High Court was told yesterday. pOrigin Enterprises scoops UK business award
DUBLIN-BASED agribusiness Origin Enterprises has received an award in the UK. pFee income up 24% at Mazars Ireland
ACCOUNTANCY FIRM Mazars Ireland increased its fee income by 24 per cent to €26 million in the year to August 31st, 2007, according to new figures. pTullow Oil confirms find of 50 million barrels off Ghana
TULLOW OIL yesterday confirmed the discovery of up to 50 million barrels of oil in its Odum-1 well off the coast of Ghana. pNorth's politicians must get back to the future
BELFAST BRIEFING: AN AMBITIOUS multi- millionpound project that aims to transform a neglected corner of Belfast from a wasteland into a thriving business park is the latest example this week of a new wave of confident investments being unveiled in the North. pIn Short
A roundup of today's other business news in brief: pGeneral rise in European markets helps drive Iseq up
DUBLIN REPORT: IT WAS the rarest of things in Dublin yesterday, a good day's trading which saw the Iseq index close up more than 2 per cent. The financials as a group were up almost 4 per cent. p
