Finfacts Ireland Business & Finance Portal
Global economic recovery remains strong in 2010 but the risks are mounting for 2011
The global economic recovery remains strong in 2010 but the risks are mounting for 2011, according to economists at US investment bank Morgan Stanley.
Eurozone finance ministers meet to discuss Greece; French Economy Minister urges Germany to cut trade surplus and boost demand
Eurozone finance ministers meet today in Brussels and are expected to reach agreement on support for Greece as it struggles to cut its budget deficit and refinance its public debt. Meanwhile, French Economy Minister Christine Lagarde has urged Germany to cut its trade surplus and expand domestic demand because the competitiveness of other members of the common currency area is threatened.
Monday Newspaper Review - Irish Business News and International Stories - - March 15, 2010
Principal news stories from the Irish Independent, Irish Times, Irish Examiner, Financial Times and New York Times.
Irish Economy: IBEC says credibility of corrective action must go beyond the public sector finances
Irish Economy: IBEC, the business representative group today launched its latest Quarterly Economic Trends, which says that the Irish economy is beginning to pull out of a deep recession. IBEC urges trade unions to be cognisant that threats of industrial action gain international notice and could rapidly undermine the confidence gained and undo the credibility that has been established. The credibility of corrective action must go beyond the public sector finances, and for sustainability it must be seen to have gained public acceptance.
Ireland and leadership at a time of crisis
At a time of crisis, people yearn for credible assurance from political leaders that multi-year dislocation, uncertainty and sacrifice will lead to better times. It could be called an expectation of inspired political leadership but in Ireland, management competence would be a welcome second best.
London and New York lead in Global Financial Centres report followed by Hong Kong and Singapore; Dublin gets ranking of 31 in 75-city sample
London and New York were tied for first place in the latest Global Financial Centres Index (GFC 7) report, published last Friday by the City of London Corporation. They were followed by Hong Kong and Singapore, while Dublin got a ranking of 31 in a 75-city sample.
Eurozone industrial production surged in January; December was revised up; Chemical sector boosted Irish production by 15.3% in month
Eurozone industrial production surged in January posted its biggest monthly increase on record and figures for December were also revised upward. The foreign-owned chemical sector boosted Irish production by 15.3%.
Markets News Friday: Dukes to become Anglo chairman; HSBC confirms theft of Swiss CD with names of 24,000 French clients
Markets news on stocks, currencies and commodities.
Innovation Ireland Taskforce's aspirational report; US banks / credit-card companies contribute most money for start-ups - - not venture capital companies
The Innovation Ireland Taskforce's report which was launched by Taoiseach Brian Cowen on Thursday, is an aspirational rather than a strategic document. It does not set out costs and supporting start-up growth and jobs targets with credible data. In the US banks and credit-card companies contribute most money for start-ups, not venture capital companies, as commonly thought.
Friday Newspaper Review - Irish Business News and International Stories - - March 12, 2010
Principal news stories from the Irish Independent, Irish Times, Irish Examiner, Financial Times and New York Times.
New head of financial regulation in Ireland outlines plans for more effective supervision
The new head of financial regulation in Ireland, Matthew Elderfield, outlined plans on Thursday for a more effective supervision of the banking and financial sector, in his first public speech.
Without reform, annual per employee health care costs for American companies will triple to nearly $29,000 by 2019
Without reform, annual per employee health care costs for American companies will triple to nearly $29,000 by 2019 according to a report commissioned by the Business Roundtable, an association of chief executive officers of leading US companies.
World trade heading for double-digit growth in 2010
World trade is still showing a mixed recovery after collapsing by nearly 13% in 2009 but it is heading for double-digit growth in 2010. The emerging markets have seen external trade pick up strongly and in some cases rapidly, unlike the developed economies. In a few instances, the export performance of emerging markets is close or above the pre-crisis levels.
Markets News Afternoon: Annual Irish production increased by 2.3% in January 2010; US weekly initial jobless benefit claims fell slightly last week
Markets news on stocks, currencies and oil; Annual production for Irish Manufacturing Industries in January 2010 was 2.3% higher than in January 2009.
Taoiseach launches Innovation Ireland Taskforce report; Says important marketing message for Ministers to carry abroad for St. Patrick's Day
The Taoiseach, Brian Cowen today launched the report of the Innovation Ireland Taskforce in the Science Gallery, Dublin. The Government said the report will be an important part of the marketing message the Taoiseach and other Ministers will be taking abroad over St. Patrick's Day.
US trade deficit narrowed in January; 2009 trade gap was $378.6 billion
The US trade deficit narrowed to $37.29 billion in January, the Commerce Department said today. A 1.7% drop in imports outpaced a 0.3% drop in exports as the volume of oil imports hit its lowest level in more than a decade. The 2009 trade gap was $378.6 billion.
Markets News Thursday: Origin Enterprises reports dip in profit; BP to acquire oil field in offshore Brazil; Oil price over $82 in New York
Markets news on stocks, currencies and commodities; Food and agri-business group Origin Enterprises reported today that pre-tax profits of €11.3m for the six months to the end of January, dipped from €17.1m a year earlier.
Irish deflation eased in February as consumer prices fell at an annual rate of 3.2%
Irish deflation eased in February as consumer prices fell at an annual rate of 3.2%, compared with 3.9% in January.
German housing completions in 2009 fell to lowest level in at least 50 years
Deutsche Bank says in 2009, the German housing market sector fell to its lowest level in at least 50 years -- at least with regard to housing completions. Frequently cited concerns about another housing shortage are highly exaggerated, however; only in a few urban areas is a severe housing shortage likely to materialise.
China's consumer price index rose at 2.7% annual rate in February; Production also rises
China's consumer price index (CPI), a main gauge of inflation, rose 2.7 per cent year on year in February, the National Bureau of Statistics (NBS) announced Thursday. The statistics agency also reported that China's industrial output rose 20.7 per cent in the first two months of 2010 compared with the same period in 2008.