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News Last Updated: Jan 16th, 2008 - 08:53:01

This page ceased being updated on Jan 16, 2008. Our news system has been upgraded and click here for access to the current news reports.
News : International
Markets News Wednesday: Stocks deep in red ink across the globe: Asia-Pacific and Europe slump following grim day in New York
Markets news on stocks, currencies and commodities.
Jan 16, 2008, 08:41

News : Irish
C&C reports plunge in UK cider sales; Revenue and profit margin to fall 10% in year to February 29, 2008
C&C Group plc, the Irish cider manufacturer and beverages distributor, today issued  a trading statement for the six months ending 29 February 2008.
Jan 16, 2008, 07:44

News : International
Apple launches MacBook Air - the world’s thinnest notebook
Apple on Tuesday introduced what it terms the world’s thinnest notebook: MacBook Air.
Jan 16, 2008, 05:55

News : International
Europe suffered a slowdown in labour productivity in 2007; Rich countries face struggle to achieve rises in living standards
Europe suffered a slowdown in labour productivity - growth in output per hour worked - growth in 2007 as the business cycle passed its peak and structural reform remained sluggish.
Jan 16, 2008, 03:05

News : International
Wednesday Newspaper Review - Irish Business News and International Stories
Principal news stories from the Irish Times, Irish Examiner, Financial Times and New York Times.
Jan 16, 2008, 07:04

News : International
Intel reports 51% rise in Q4 2007 net income but cautious outlook for 2008 sends shares plunging 14% in after-hours trading
Intel, the giant US computer chip maker, on Tuesday announced record fourth-quarter revenue of $10.7 billion, operating income of $3 billion, net income of $2.3 billion - up 51 percent, and earnings per share (EPS) of 38 cents. For 2007, operating income grew 45 percent, reflecting the company's ongoing efficiency programs, with profits growing significantly faster than revenue.
Jan 16, 2008, 03:34

News : Irish
Shannon Development calls for urgent national launch of high-speed fibre Broadband infrastructure across Ireland
Shannon Development Chief Executive, Kevin Thompstone, has called for the urgent rollout of a €4 billion high-speed broadband telecommunications infrastructure across Ireland.
Jan 16, 2008, 02:44

News : International
Markets News Afternoon: Citi rains heavily on markets in Europe and US - Dublin plunges almost 4%
Markets news on stocks, currencies and oil.
Jan 15, 2008, 16:55

News : European
German ZEW Indicator of Economic Sentiment fell in January to a to 15-Year low indicating plunge in investor confidence
The German ZEW Indicator of Economic Sentiment decreased in January 2008 once again and now stands at minus 41.6 points after minus 37.2 points in the previous month. This is still well below its historical average of 31.0 points and is the lowest since 1993 - a 15-year low.
Jan 15, 2008, 16:29

News : Irish
Irish SMEs can reduce costs by adopting Green IT
Energy represents the biggest cost increase for small and medium sized enterprises globally over the last two years so there are good business as well as environmental reasons for Irish SMEs (Small and Medium Sized Enterprises) to adopt a green approach to IT. The need for Irish SMEs to adopt a more green approach to IT was highlighted recently when oil reached $100 a barrel.
Jan 15, 2008, 15:04

News : International
US retail sales fell in December signalling that consumer spending is under strain; Producer/Wholesale prices rose 6.3% in 2007 - the highest since 1981
US retail sales fell 0.4% in December, the US Commerce Department said today. The drop indicated that consumer spending, which accounts for over 70% of US national output, is under strain. The Department of Labor also reported today a small decline in US producer/Wholesale prices in December but for 2007 as a whole, they recorded the highest calendar-year increase in over a quarter century, fuelled by higher energy, commodity and food prices.
Jan 15, 2008, 14:43

News : Irish
Irish construction employment fell 5.4% in year to November 2007 - actual job losses were about 15,000
The CSO reported today that employment in Irish private firms (with five or more persons engaged) in the construction industry decreased by 5.4% in November 2007 by comparison with November 2006.
Jan 15, 2008, 14:13

News : International
Citigroup reported Q4 2007 loss of $9.83 billion; Write-downs and increased credit costs were a massive $22.2 billion
 Citigroup Inc. today reported a net loss for the 2007 fourth quarter of $9.83 billion, or $1.99 per share. Results include $18.1 billion in pre-tax write-downs and credit costs on sub-prime related direct exposures in fixed income markets, and a $4.1 billion increase in credit costs in US consumer primarily related to higher current and estimated losses on consumer loans.
Jan 15, 2008, 13:01

News : Irish
Two Dublin Firms "score major deals" during South Africa Trade Mission
Two Dublin firms have secured major deals during Ireland's "largest ever" Trade Mission to South Africa, according to the Minister for Enterprise, Trade and Employment, Micheal Martin.
Jan 15, 2008, 12:39

News : European
UK Annual Consumer Price Inflation held steady in December at 2.1%
UK Annual Consumer Price Inflation (CPI) – the UK Government's target measure – was 2.1 per cent in December, unchanged from November.
Jan 15, 2008, 11:48

News : European
Total cost of employment in Ireland at €38,541in 2007 - 16th of 24 EU countries; New EU member states have lowest labour costs
The Deloitte 2007 Remuneration Survey reveals that a wide divergence in remuneration levels still prevails across EU member states. Ireland is now 16th out of the 24 countries in terms of the overall cost of employment with a figure of €38,541, an increase of 4.6% from €36,852.
Jan 15, 2008, 10:13

News : International
Markets News Tuesday: Citi bad news awaited; Markets fall in Asia-Pacific and Europe; Dollar up from near record low against Euro; Gold price over $900
Market news on stocks, currencies and commodities.
Jan 15, 2008, 09:01

News : International
Hong Kong and Singapore again head Index of Economic Freedom; Ireland gets third ranking
The level of economic freedom found throughout the world remained essentially unchanged over the last year, with overall gains in only two of the five regions examined in the 14th annual Index of Economic Freedom, released today by The Heritage Foundation and The Wall Street Journal.
Jan 15, 2008, 07:30

News : International
Tuesday Newspaper Review - Irish Business News and International Stories
Principal news stories from the Irish Times, Irish Examiner, Financial Times and New York Times.
Jan 15, 2008, 06:55

News : European
European Union countries fighting over share-out for cutting greenhouse gas emissions; Environment Commissioner now says some biofuels do more harm than good
European Union countries are fighting for national interest within days of the Commission publishing the country-by-country targets share-out for cutting greenhouse emissions.
Jan 15, 2008, 06:01


Latest Headlines
News
Markets News Wednesday: Stocks deep in red ink across the globe: Asia-Pacific and Europe slump following grim day in New York
C&C reports plunge in UK cider sales; Revenue and profit margin to fall 10% in year to February 29, 2008
Apple launches MacBook Air - the world’s thinnest notebook
Europe suffered a slowdown in labour productivity in 2007; Rich countries face struggle to achieve rises in living standards
Wednesday Newspaper Review - Irish Business News and International Stories
Intel reports 51% rise in Q4 2007 net income but cautious outlook for 2008 sends shares plunging 14% in after-hours trading
Shannon Development calls for urgent national launch of high-speed fibre Broadband infrastructure across Ireland
Markets News Afternoon: Citi rains heavily on markets in Europe and US - Dublin plunges almost 4%
German ZEW Indicator of Economic Sentiment fell in January to a to 15-Year low indicating plunge in investor confidence
Irish SMEs can reduce costs by adopting Green IT
US retail sales fell in December signalling that consumer spending is under strain; Producer/Wholesale prices rose 6.3% in 2007 - the highest since 1981
Irish construction employment fell 5.4% in year to November 2007 - actual job losses were about 15,000
Citigroup reported Q4 2007 loss of $9.83 billion; Write-downs and increased credit costs were a massive $22.2 billion
Two Dublin Firms "score major deals" during South Africa Trade Mission
UK Annual Consumer Price Inflation held steady in December at 2.1%
Total cost of employment in Ireland at €38,541in 2007 - 16th of 24 EU countries; New EU member states have lowest labour costs
Markets News Tuesday: Citi bad news awaited; Markets fall in Asia-Pacific and Europe; Dollar up from near record low against Euro; Gold price over $900
Hong Kong and Singapore again head Index of Economic Freedom; Ireland gets third ranking
Tuesday Newspaper Review - Irish Business News and International Stories
European Union countries fighting over share-out for cutting greenhouse gas emissions; Environment Commissioner now says some biofuels do more harm than good
US Hedge Fund Index shows return of 11.15% in 2007 - More than double the S&P 500 performance
Dublin Airport: DAA to start work on €55m extension to Terminal One
Markets News Afternoon: Stocks rally in US and Europe boosted by positive fourth quarter data from IBM and SAP
Forfás says Employment in IDA and Enterprise Ireland client firms grew by 1,187 in 2007; Over 18,500 people were employed in research activities across Ireland in 2007
IBM reports strong fourth quarter preliminary earnings boosted by Asia, Europe and Emerging Countries
UK factory gate/wholesale price annual inflation rose to 5% in December - the highest since 1991
Eurozone industrial production fell 0.5% in November
Wyeth Ireland invests €5 million in Dublin and creates 24 jobs
Irish Consumer sentiment fell slightly in December 2007
Markets News Monday: Start of US fourth quarter earnings season has investors worried about how banks and brokerages have performed
Analysis/Comment
Dr. Peter Morici: The Federal Reserve needs more than a new Communications Strategy
The Irish Mind and the Knowledge Economy: Should we bank everything on fuzzy leprechaunic political dreams?
Dr. Peter Morici: Why the US Trade Deficit matters?
Dr. Peter Morici: US Recession Watch, the Jobs Report and Fed Policy
Dr. Peter Morici: Business as Usual: the Energy Bill, Subprime Mess, and Recession Watch
Dr. Peter Morici: China’s Dragon does not flinch and Bernanke’s Toothless Dog
Cabinet decision to defer Irish ministerial pay hikes until 2009 seen as empty gesture after weeks of controversy
Dr. Peter Morici: President Bush's Mortgage Program and Rumblings from Europe about the Dollar
Dr. Peter Morici: Avoiding a US Recession
Christmas Fear and a proposed German Minimum Wage - Prof Hans-Werner Sinn
Nine months after ISEQ record highs, Irish shares likely to underperform other markets for sometime
Dr. Peter Morici: An Emergency Interest Rate Cut? and The Week Ahead: Forecasts for the Weeks of November 26 and December 3 (preliminary)
Germany: How the Upswing Came About - Six Hypotheses - - Prof. Hans-Werner Sinn
Dr. Peter Morici: The Limits of US Federal Reserve Policy
Dr. Peter Morici: US Stock Prices and the Trade Deficit; Forecasts for the Weeks of November 12 and November 19
Dr. Peter Morici: US Economy adds 166,000 employees in October; While ranks of the Self Employed fall: Credit Crisis grows, Bernanke’s credibility suffers
Dr. Peter Morici: The Fed's Misstep, and Forecasts for the Weeks of November 5 and November 1
Dr. Peter Morici: The Falling US Dollar and the Stubborn US Trade Deficit
Where is the Outrage? Gombeenism thrives at home while in Paris, OECD staff work on proposals for Irish public service reform
Dr. Peter Morici: Why Bernanke should Cut Rates and Forecasts for the Weeks of October 22 and October 29
Dr. Peter Morici: Crafting a US Response to Global Warming
Dr. Peter Morici: US Banks offer Plan to calm Credit Markets
World loses forest area size of Ireland annually; Accounts for 18% of CO2 emissions - exceeding entire global transport sector
US Economy adds 110,000 Jobs in September--Confirms Morici's forecast
Dr Peter Morici: Why the Europeans should take their Complaints about the Weak US Dollar to Beijing; Economic Forecasts Weeks Oct 8th and 15th
Dr Peter Morici: UAW - GM Pact leaves GM at Cost Disadvantage
ECB may cut rates in 2008 but as the Chinese say - be careful what you wish for
Opportunities in the “chilled” US Commercial Real Estate Market
Dr Peter Morici: Democratic Accountability and the Doha Round
Dr. Peter Morici: Henry Paulson’s Fear Mongering