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Last Updated:
Feb 3, 2012 - 3:53 PM |
News
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US Economy
US services sector accelerated in January to its highest level in a year
Growth in the US services sector accelerated in January to its highest level in nearly a year, according to an industry report issued on Friday. The Institute for Supply Management said its services index rose to 56.8 last month from a revised 53.0 in December. It was the highest level since February 2011.
Feb 3, 2012 - 3:48 PM
News
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US Economy
US added 243,000 jobs in January; Unemployment rate falls to February 2009 level
Total nonfarm US payroll employment rose by 243,000 in January, and the unemployment rate decreased to 8.3% - - the lowest since February 2009, President Obama's first full month in office - - the US Bureau of Labor Statistics reported today. Jobs growth was widespread in the private sector, with large employment gains in professional and business services, leisure and hospitality, and manufacturing. Government employment changed little over the month.
Feb 3, 2012 - 3:12 PM
News
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International
Markets: Ryanair warns Aer Lingus on covering €400m deficit in staff pension fund
Markets news on stocks, currencies and commodities; Ryanair warns Aer Lingus on covering €400m deficit in staff pension fund.
Feb 3, 2012 - 10:33 AM
News
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EU Economy
Eurozone service sector stabilises in January as growth in France and Germany offsets declines in Spain and Italy
Business activity in the Eurozone service sector stabilised in January, with a marginal expansion ending a four-month period of contraction. Underlying conditions in the sector nonetheless remained lacklustre overall, as inflows of new business fell further and job losses were recorded for the first time since April 2010. Growth in France and Germany offset declines in Spain and Italy.
Feb 3, 2012 - 8:55 AM
News
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Irish
Irish pension funds increased 3.7% in January following a 2.4% drop in 2011
Aon Hewitt Ireland, a unit of Aon Corporation of the US, says Irish pension funds increased 3.7% in January following a 2.4% drop in 2011.
Feb 3, 2012 - 8:34 AM
News
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Irish Economy
Irish services sector activity falls for second straight month in January; Rate of decline in new business slows
Irish services sector activity fell for a second straight month in January 2012 but the rate of decline in new business slowed according to a report issued today.
Feb 3, 2012 - 7:24 AM
News
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International
Friday Newspaper Review - - Irish Business News - - February 03, 2012
Principal news stories from the Irish Times and Irish Examiner.
Feb 3, 2012 - 6:28 AM
News
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Irish Economy
Irish Exchequer Returns 2012: Tax receipts up 17% in January with a boost from timing of corporation tax
Irish Exchequer Returns 2012: The Department of Finance said today that the Exchequer deficit in January 2012 was €394m compared to €483m last January. Increased tax and non-tax revenues and lower net voted expenditure were largely offset by higher debt servicing costs and higher non-voted capital expenditure. Tax receipts were up 17% with a boost from timing of corporation tax.
Feb 2, 2012 - 4:55 PM
News
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Irish
Vhi health insurance premiums to rise by 6% - 12.5%
Vhi Healthcare, the State-owned health insurer, announced today that it will increase its prices by an average of 9% next month with increases ranging from 6% - 12.5%. For most plans the price increase will be effective from 1st March, 2012. Vhi Healthcare said that the price increase is necessary to fund the healthcare needs of its customers.
Feb 2, 2012 - 4:16 PM
News
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Irish Economy
Irish Economy 2012: Central Bank sharply cuts Ireland's economic growth forecast for this year
Irish Economy 2012: The Central Bank today sharply cut Ireland's economic growth forecast for this year as the Eurozone faces recession and consumer spending falls at a time of continuing fiscal retrenchment.
Feb 2, 2012 - 12:27 PM
News
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International
Markets: Deutsche Bank plunges to loss in Q4 2011; Baltic Dry Index sinks to 25-year low on shipping glut
Markets news on stocks, currencies and commodities; Deutsche Bank reports plunge in Q4 2011 earnings; Baltic Dry Index sinks to 25-year low on shipping glut.
Feb 2, 2012 - 10:12 AM
News
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Irish
Irish Health Contribution Refunds
The Department of Social Protection has this morning clarified the conditions applying to Irish Health Contribution Refunds.
Feb 2, 2012 - 9:21 AM
News
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EU Economy
Spain's Insider-Outsider Divide: Young temporary workers overwhelmingly the victims of brutal recession
Spain's Insider-Outsider Divide: Some of Europe's worst governed countries operate two parallel labour markets -- one mainly protected from economic shocks and the other comprising temporary workers, where all risks are concentrated. In Spain severance pay of up to 45 days' wages per year of service for permanent workers is available while in the current brutal recession, it's young temporary workers who overwhelmingly have borne the brunt of the huge rise in unemployment.
Feb 2, 2012 - 8:35 AM
News
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Innovation
Facebook files for an IPO; Claims 845m users
Facebook on Wednesday filed for an IPO (initial public offering) that is expected to value the eight-year old social media network between $75bn and $100bn. It is set for one of the biggest US stock-market debuts and hopes to raise an initial $5bn when it begins selling shares in coming months.
Feb 2, 2012 - 8:19 AM
News
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International
Thursday Newspaper Review - Irish Business News and International Stories - - February 02, 2012
Principal news stories from the Irish Times and Irish Examiner.
Feb 2, 2012 - 7:04 AM
Analysis/Comment
Dr Peter Morici: US jobs report expected to show little progress; Economy slowing
Dr Peter Morici: Friday, forecasters expect the US Labor Department to report the economy added 135,000 jobs in December, after gaining 200,000 in December. In 2012, weaker jobs gains are likely as consumer spending and economic activity slow.
Feb 2, 2012 - 6:09 AM
News
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US Economy
US private sector added 170,000 jobs in January; US manufacturing sector continued to expand
The US private sector added 170,000 jobs in January while the US manufacturing sector continued to expand in the month according to reports Wednesday.
Feb 1, 2012 - 3:56 PM
News
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EU Economy
Eurozone annual inflation is expected to be 2.7% in January 2012
Eurozone annual inflation is expected to be 2.7% in January 2012 according to a flash estimate issued by Eurostat, the statistics office of the European Union. It was also 2.7% in December 2011.
Feb 1, 2012 - 12:23 PM
News
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Irish Economy
Irish Live Register 2012: Irish unemployment rate inched down to 14.2% in January; Register dipped 3,200 in month
Irish Live Register 2012: The standardised Irish unemployment rate (SUR) in January 2012 was 14.2%, down slightly from a rate of 14.3% in December 2011. The latest seasonally adjusted unemployment rate from the Quarterly National Household Survey was 14.4% in the third quarter of 2011. There was a drop of 3,200 on the register in January.
Feb 1, 2012 - 11:52 AM
News
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EU Economy
Eurozone Bank Lending Survey shows falling loan demand in Ireland and rest of Eurozone in Q4 2011
The Central Bank today reported the Irish responses to the Eurozone Bank Lending Survey and during the final quarter of 2011, credit standards were unchanged on loans to enterprises. However, a further decrease in loan demand from enterprises was reported. A tightening of credit standards on loans to households for house-purchases was reported for the fourth quarter of 2011 with a further tightening anticipated for the first quarter of 2012. Loan demand from households for house purchases weakened again during the final quarter of 2011.
Feb 1, 2012 - 11:42 AM
News
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International
Markets News: Amazon.com's fourth-quarter earnings fell 57%
Markets news on stocks, currencies and commodities; Amazon.com's fourth-quarter earnings fell 57%.
Feb 1, 2012 - 9:56 AM
News
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EU Economy
Eurozone manufacturing downturn eases in January as Germany returns to growth
The downturn in the Eurozone manufacturing sector eased further at the start of 2012. The seasonally adjusted Markit Eurozone Manufacturing PMI (Purchasing Managers' Index) rose for the second month running in January. Although below 50.0 and therefore still signalling a worsening of business conditions, the index hit a five-month high of 48.8, up from 46.9 in December and just above the earlier flash estimate of 48.7. Signs of recovery were seen in Germany and Austria, where PMIs rose back above the 50.0 no-change mark. Rates of contraction eased in Italy, Spain and the Netherlands.
Feb 1, 2012 - 9:10 AM
News
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International
Wednesday Newspaper Review - Irish Business News and International Stories - - February 01, 2012
Principal news stories from the Irish Times and Irish Examiner.
Feb 1, 2012 - 7:31 AM
News
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Irish Economy
Irish manufacturing output fell for third straight month in January
Irish manufacturing output fell for third straight month in January as operating conditions continued to deteriorate at the start of 2012. Output and new orders both fell at solid rates. Meanwhile, firms continued to reduce output prices in spite of another strong rise in input costs. On a more positive note, new export orders increased marginally for the second month running.
Feb 1, 2012 - 7:07 AM
Asia Economy
Chinese manufacturers report further falls in output in January; Indian manufacturing rises
Chinese manufacturers report further falls in output at start of 2012. Meanwhile Indian manufacturing sector business conditions improved at fastest rate in eight months in January.
Feb 1, 2012 - 6:32 AM
News
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US Economy
US Consumer Confidence Index fell slightly in January
The US Conference Board Consumer Confidence Index, which had increased in December, retreated in January. The Index now stands at 61.1 (1985=100), down from 64.8 in December. The Present Situation Index declined to 38.4 from 46.5. The Expectations Index edged down to 76.2 from 77.0 in December.
Jan 31, 2012 - 3:27 PM
News
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Irish Economy
Loans to Irish households continued to fall in December 2011; Irish resident private-sector deposits rose during month
The Central Bank said today that loans to households continued to decline during December, and were 3.8% lower on a year-to-year basis at end-2011, following a decline of 4.1% for the year ending November 2011. Lending for house purchase was 2.5% lower on an annual basis at end-2011, while lending for consumption and other purposes declined by 8% over the same period. There was a rise of €108m in Irish resident private-sector deposits during the month of December. Developments in household sector deposits dominated this aggregate movement, as household deposits increased by €540m during the month.
Jan 31, 2012 - 2:53 PM
News
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Irish Economy
Irish Consumer Sentiment Index increased in January 2012
The overall KBC Bank Ireland/ESRI Consumer Sentiment Index increased to 56.6 in January 2012 from 49.2 in December. The corresponding figure for January 2011 was 48.7. The 3-month moving average weakened to 55.3.
Jan 31, 2012 - 2:12 PM
News
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EU Economy
Eurozone unemployment rate stable at 10.4% in December; Irish jobless rate at 14.5%; Spain at 22.9% and Austria at 4.1%
The Eurozone (EA17) seasonally-adjusted unemployment rate was 10.4% in December 2011, unchanged compared with November. It was 10.0% in December 2010. The EU27 unemployment rate was 9.9% in December 2011, also unchanged compared with November. It was 9.5% in December 2010. The Irish jobless rate was at 14.5%; Spain at 22.9% and Austria at 4.1%.
Jan 31, 2012 - 1:46 PM
News
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International
Markets News: EU25 leaders agree to sign fiscal compact agreement in March
Markets news on stocks, currencies and oil; EU25 leaders agree to sign fiscal compact agreement in March.
Jan 31, 2012 - 9:34 AM
News
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EU Economy
German retail sales fell in December but rose in 2011; Number of unemployed fell 420,000 in 2011
German retail sales fell in December but rose in 2011. Meanwhile, the number of unemployed fell 420,000 in 2011.
Jan 31, 2012 - 8:53 AM
News
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Irish
Sky announces 800 new customer care jobs in Dublin over next two years
Sky, a unit of the British digital TV service, is to create more than 800 new jobs in Dublin over the next two years as it opens a new customer service centre to meet increased service demands from Irish customers. The new centre will open in August 2012 in Burlington Plaza, located in Dublin city centre, and will enable Sky to serve its Irish customers from one dedicated site for the first time.
Jan 31, 2012 - 8:18 AM
News
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International
Tuesday Newspaper Review - Irish Business News and International Stories - - January 31, 2012
Principal news stories from the Irish Times and Irish Examiner.
Jan 31, 2012 - 7:26 AM
News
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EU Economy
Japan's manufacturing began 2012 in growth mode; Data also shows output jumped in December on recovery from Thai flooding disruptions
The start of 2012 saw a return to growth of Japanese manufacturing production, although the rate of expansion was modest according to the latest PMI (Purchasing Managers' Index) data . New order intakes increased marginally, while staff numbers were unchanged compared to one month earlier. On the price front, input price inflation eased to a moderate rate, and factory gate charges fell for a sixth month in succession. Meanwhile official data published today showed that Japan’s factory output jumped 4% in December, as the sector recovered from flood disruption of supply chains in Thailand, trade ministry figures showed in Tokyo today. Industrial output for October-to-December fell 0.4%.
Jan 31, 2012 - 7:18 AM
News
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EU Economy
Summit of EU leaders underway in Brussels; France cuts 2012 GDP forecast to 0.5%; Italy raises €7.5bn at reduced rates
A summit of European Union leaders began in Brussels on Monday afternoon, as they struggle to reconcile the continent's desperate need for economic growth with programs of austerity. The meeting to agree an intergovernmental treaty on closer governance of individual member states' economies has been overshadowed by Germany's proposal of an EU-appointed “budget commissioner” for Greece with powers to override its government’s budget policy. Meanwhile also Monday France cut its 2012 GDP (gross domestic product) growth forecast to 0.5% and Italy raised €7.5bn in bond sales at sharply reduced rates.
Jan 30, 2012 - 5:16 PM
News
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Irish Economy
IDA Ireland paid €548m to foreign companies in six years to 2011; Permanent jobs lost in 2007-2011 at 10,000
Figures released in response to a parliamentary question by Sinn Féin's Peadar Tóibín to the Minister for Enterprise and Jobs Richard Bruton reveals that IDA Ireland, the State agency responsible for the promotion of FDI (foreign direct investment) paid €548m in grants to foreign companies in the six years to 2011. In 2007, there were 1,070 IDA-supported companies operating in Ireland, but by 2011 there were 66 fewer, with a loss of 10,000 permanent jobs.
Jan 30, 2012 - 4:30 PM
News
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International
Markets News: EU leaders expected to approve text of new intergovernmental treaty today
Markets news on stocks, currencies and commodities; EU leaders are expected to approve the text of a new intergovernmental treaty at a summit in Brussels later Monday.
Jan 30, 2012 - 9:51 AM
News
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Irish Economy
Irish Economy 2012: IBEC says ECB rate cuts will boost household cash; GDP forecast cut to 0.9%
Irish Economy 2012: IBEC, the main Irish business lobby group, today published its first Quarterly Economic Outlook of 2012 [pdf], which says that the challenging economic outlook, both domestically and in the wider eurozone, reinforced the urgent need for the upcoming Government jobs strategy to include ambitious new stimulus measures to support jobs and growth. The group said interest rate cuts by the ECB (European Central Bank) will raise the cash available for discretionary spending by households with mortgages by 6.5% this year. however, because of "increased uncertainty in Europe and globally," it has cut its forecast for 2012 GDP (gross domestic product) growth to 0.9%.
Jan 30, 2012 - 8:54 AM
News
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Irish Economy
Irish Jobs: Big indigenous firms internationlise; Young high tech firms with potential sold overseas
Irish Jobs: The Government will soon announce an 'action plan' for jobs but policy-makers face a problem - - big indigenous firms when they expand overseas tend to internationalise both in terms of share ownership and job creation while young high tech firms with potential are invariably sold to bigger American firms.
Jan 30, 2012 - 8:15 AM
News
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Irish
Ryanair announces fiscal third quarter profit of €15m; Raises full-year forecast
Ryanair today announced a fiscal third quarter profit of €15m compared to a Q3 loss of €10m last year. Revenues increased 13% to €844m as traffic fell 2% and average fares rose 17%. Unit costs rose 11% due to a 7% increase in sector lengths and an 18% increase in fuel costs. Excluding fuel, sector length adjusted unit costs declined by 1%.
Jan 30, 2012 - 7:56 AM
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