Previous Day
Tension stays high as Iseq ends dismal day down 1%
POSITIVE SENTIMENT on European stock markets following the cut
in US interest rates didn't last for long yesterday, as rumours of
funding problems at major financial institutions prompted sellers
to come back into the market. p
Anglo shares recover as inquiry into UK trading launched
SHARES IN Anglo Irish Bank recovered from sharp intra-day losses to close unchanged last night as British regulators said they were investigating trading in financial stocks after a spate of rumours triggered exceptional volatility in share prices. p
Other Stories
Morgan Stanley cheered as results beat expectations
MORGAN STANLEY yesterday reported a smaller than expected drop in first-quarter profit as strength in the bank's sales and trading businesses easily offset writedowns on mortgage-related assets and leveraged loans. pUS home loan financiers allowed to expand funding
THE US Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan and Mortgage Corporation (Freddie Mac), the US government-chartered mortgage financiers, yesterday got the go-ahead from their regulator to pump as much as $200 billion (€128.17 billion) of liquidity into the beleaguered US mortgage market. pVisa shares up 38 per cent on debut
VISA SHARES jumped as much as 38 per cent as the world's largest credit card network made its market debut, with investors enticed by potential growth in cashless transactions handing some beleaguered US banks a much-needed payday. pAer Lingus fuel surcharge on US flights rises 15.4%
AER LINGUS yesterday hiked its fuel surcharge on transatlantic flights by up to 15.4 per cent in a bid to offset the effects of the high price of oil. pNI jobless rate increases as workforce grows
UNEMPLOYMENT HAS risen in Northern Ireland for the third quarter in a row according to the latest Government statistics. pIBM chooses Dublin as base for computing initiative
IBM HAS chosen Dublin as the location for what it claims is the first cloud computing centre in Europe. pJob vacancies in private sector drop sharply
JOB VACANCIES in the private sector have hit their lowest rate in more than two and a half years according to the Fás/ESRI employment and vacancies survey for February. pESB and unions to discuss company's future and sale of two power plants
ESB MANAGEMENT and unions will hold talks next week on the State electricity company's future and its plans to sell two power plants this year. pSony Ericsson profits hit by sales slump in Europe
SONY ERICSSON, the world's fourth-largest mobile phone manufacturer, yesterday warned its pre- tax profit for the first quarter of 2008 could be less than half that of last year, partly because of a shortfall of sales in its core European markets. pLiechtenstein names leaked to Italian media
ITALIANS ARE calling it the "trickle-down effect" as names of holders of Liechtenstein bank accounts are leaked to the press, including politicians, entertainers, industrialists and even a dog called Gunther. pSmall firms told to improve customer service
MARKETING IS ultimately all about sales and every seller has to close the sale. This is the point where the buyer can often raise "objections". For small firms, these objections are different than for larger firms and one man who knows all about clinching the sale is Peter Lawless. pIn Short
A roundup of today's other business news in brief: pTurbulence for Ryanair as oil price fears take their toll
DUBLIN REPORT : BLACK GOLD seized its turn to be the unravelling of equities markets yesterday, as Easyjet warned that if triple-digit oil prices prevail, its profits will be dented this year. p
