The Minister for Finance, Brian Lenihan, TD today announced that the State bank guarantee for short term bank liabilities, including corporate and interbank deposits as well as debt securities would be extended from its current expiry date of September 29 2010 to 31 December 2010.
Markets news on stocks, currencies and commodities; German factory orders fell in July as demand in the Eurozone softened, indicating as expected that the pace of growth in the second half of 2010 will moderate.
The interest rate spreads between Irish 10-year bonds and German benchmark bunds rose above 6% today.
Irish consumer confidence fell in August. The overall KBC Ireland/ESR Consumer Sentiment Index stood at 61.4 in August, compared to a figure of 66.2 in July.
Markets news on stocks, currencies and commodities; Aer Lingus says August passenger numbers fell; Elan directors in court row; Fired HP boss Hurd joins Oracle.
Minister for Finance Brian Lenihan was in Brussels on Monday where he discussed the future of Anglo Irish Bank and participated with colleagues at a meeting of a committee on new EU procedures for monitoring member country budgets, under the chairmanship of EU President Herman Van Rompuy.
Principal news stories from the Irish Independent, Irish Times, Irish Examiner, Financial Times and New York Times.
Jailed Russian oil tycoon Mikhail Khodorkovsky claims Kremlin pressure forced Big 4 accounting firm PwC (PricewaterhouseCoopers) to adjust audits on the dismantled oil firm Yukos.
President Obama will call on Wednesday for businesses to be allowed deduct from their taxes in 2010 through 2011 the full value of new capital equipment purchases from computers to utility generators, to spur economic activity. On Monday the President proposed spending an additional $50bn on infrastructure investments.
Investment grade market let residential property delivered a solid 4.7% six-month total return to June, according to the inaugural IPD UK Biannual Residential Investment Indicator.
Markets news on stocks, currencies and commodities; Bank for International Settlements says cross-border bank lending in Q1 2010 rose for the first time since the collapse of US investment bank Lehman Brothers.
Principal news stories from the Irish Independent, Irish Times, Irish Examiner, Financial Times and New York Times.
The latest Monday morning initiative from Minister for Enterprise, Trade and Innovation, Batt O’Keeffe TD, is a €1.4m pilot management training fund for small and medium-sized businesses (SMEs) aimed at driving productivity and improving workplace skills. Meanwhile, O’Keeffe’s junior minister Billy Kelleher TD, today leads 30 ‘top’ Irish firms on a week-long trade mission to [...]
US Economy: There is only one way out of the recession according to a political scientist at the Washington DC think-tank, the Brookings Institution.
A study published by the Bank for International Settlements on Sunday says households and companies will continue to cut debt built up before the financial crisis. However, it does not necessarily follow that economic growth prospects will be seriously impacted.
Earnings of big US and European companies have been impressive in 2010.
US nonfarm payroll employment changed little (-54,000) in August, and the unemployment rate was about unchanged at 9.6%, the US Bureau of Labor Statistics reported today. Government employment fell, as 114,000 temporary workers hired for the decennial census completed their work. Private-sector payroll employment continued to trend up modestly (+67,000). The broad measure of unemployment [...]
Markets news on stocks, currencies and commodities; Fyffes reports fall in profits for the first six months of the year.
Eurozone Service Sector: At 55.9 in August, up slightly from 55.8 in July, the Final Markit Eurozone Services Business Activity Index rose to a three-month high and was above the earlier flash estimate of 55.6. Business activity has now increased throughout the past year.
Principal news stories from the Irish Independent, Irish Times, Irish Examiner, Financial Times and New York Times.
Irish pension managed funds fell back slightly in August, with an average return of -0.8% for the month, although some managers did stay in positive territory.
Irish Services: The seasonally adjusted Business Activity Index – – which is based on a single question asking respondents to report on the actual change in business activity at their companies compared to one month ago – – dropped to 52.9 in August, from 55.7. The reading signalled a fifth consecutive rise in business activity [...]
The European Chamber of Commerce in China says in its annual report that European companies wish to have equal access to China’s markets but despite China’s 30 years of reform, it still remains excessively regulated and less open to competition compared to other major economies.
The Irish Exchequer deficit at end-August 2010 was €12.1bn, according to the Department of Finance this afternoon. The Department said this compares to an Exchequer deficit of €18.7bn in the period to end-August 2009 and in overall terms, is generally in line with expectations and the Budget Day targets for 2010 remain valid. Tax revenues [...]
European Central Bank President Jean-Claude Trichet today announced the extension of emergency lending measures for banks into 2011. He also announced an upward revision in economic forecasts for 2010 and 2011.
