International
Markets: Ryanair to create 50 new IT/ digital jobs; Free breakfast & flights at open day
By Finfacts Team
Jan 27, 2014 - 3:12 PM

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Ryanair, a recent convert to online social media, announced Monday that it will create over 50 new IT and digital jobs as it holds its first open day for “web stars” on Saturday, 8th Feb, at its new Dublin Offices in Airside, Swords.

Ryanair is recruiting web developers, designers, analysts, software engineers, SEO and content, CRM and email specialists "to transform Europe’s largest travel website (Ryanair.com), develop a world leading digital marketing platform (in April) and help create a brilliant new mobile app (from June)."

Ryanair’s CEO Michael O’Leary, CMO, Kenny Jacobs, Eric Neville, director of IT, and  Dara Brady, head of web development, will welcome web stars and "brief them on these exciting plans." Participants should pre-register on the Ryanair.com website and "every attendee will be treated to free breakfast – - and free Ryanair flights" - - cheaper than hiring recruitment consultants?

In fact, this looks like work for freelancers and the “web stars” may well have to compete against each other - - there's no such thing as a free breakfast! 

German business confidence began 2014 at highest level in more than two years

ECB to consider buying packages of loans households and business

Irish Economy 2014: Shambolic apprenticeship system gets some attention at last

Conall Mac Coille, chief economist at Davy, commented -- "Recent upward pressure on European short-term borrowing rates had prompted some commentators to suggest a further ECB rate cut may be likely. For example, Euribor recently rose to a high of 0.36%, above the ECB's main refinancing rate of 0.25%. Upward pressure on overnight lending rates has emerged as banks have paid back their LTRO loans from the ECB, reducing excess liquidity in the banking system. However, speaking at the Davos meetings over the weekend, governing council member Klaas Knot indicated that higher short-term lending rates were a distortion and did not warrant policy action. Furthermore, ECB President Mario Draghi insisted that there had been signs of a dramatic improvement in the health of the European economy and played down fears of deflation in the euro area.

British Bankers Association data released on Friday showed new loans for house purchase at 46,521 in December. Albeit a little below expectations, there is now a clear upward trend in new UK mortgage lending. US existing home sales (released today) are expected to be 455,000, down from 464,000 in November. However, the bigger picture is that home sales have rebounded since the summer, allaying concerns that the Fed's tapering and the rise in US 10-year yields towards 3% would dampen the US housing market recovery."

Economic View: Public spending scrutiny must continue; Dermot O'Leary, chief economist at Goodbody, commented - - "With quarterly Troika visits now a thing of the past, a key challenge for the Irish government is to maintain discipline in its efforts to return the budget deficit to a sustainable level. Following three years of austerity by this government and elections just around the corner, the temptation to waver is obvious.

While not necessarily related, reports of overspending in the provision of water services provides some cause for concern. All of the Irish media are reporting on comments from Professor John Fitzgerald from the ESRI, who is saying that the new Irish Water company will be overspending by €150m per year up to 2026 due to agreements struck on staffing levels during the handover from the local authorities. According to the reports, the new company, one of the conditions of the Troika MoU, will employ 4,000 people, but has already stated that it will need only 1,700 staff to run it.

Paradoxically, Prof. Fitzgerald calculates that the creation of Irish Water will free up €500m per annum and will reduce the national debt by 2% of GDP, due to the fact that the new company will not be treated on the general government accounts. However, this is just an accounting gimmick, and should be seen as such. The real issue is whether public money is being used in the most efficient way."

US Markets

In New York Monday the Dow fell 41 points or 0.25% to 16,373.

The S&P 500 added 0.06% and the Nasdaq advanced 0.41%.

US benchmark updates

Asia Markets

The MSCI Asia Pacific Index sank 2.1% Monday - - its lowest close since Sept. 6.

Japan's Nikkei 225 fell 2.51%; China's Shanghai Composite dropped 1.03%; South Korea's KOSPI dipped 1.56%; Australia's S&P/ASX 200 slid 0.42% and in Mumbai, the Bombay Stock Exchange the S&P BSE India Sensex Index declined 2.02%.

Europe Markets

In Europe, the Dow Jones Stoxx Europe 600  is down 0.48% in mid-afternoon trade Monday.

In Dublin, the ISEQ  is off 0.88%

Kerry has fallen 2.42%.


European Benchmarks

Irish Share Prices

Euribor Rates

AIB Daily Report

Bank of Ireland Daily Report

Currencies

The euro is trading at $1.3666 and at £0.8244.

For live currency updates, check the right-hand column of the Finfacts home page.

The US dollar fell to $1.6038 per euro on Tuesday, July 15, 2008 - an-all time record.

Commodities

The Baltic Dry Index, a measure of shipping costs for dry commodities, hit an all-time high of 11,771 on May 21, 2008. From that time it reversed and on the 5th of December, 2008 it hit a low of 663 - - close to a 1986 low.

On Thursday, July 15, 2010, the index fell for the 35th straight session, by 9 points, or 3.11%, to 1,619 points, Bloomberg report.

On Friday the BDI fell 25 points or 1.97% to 1,246.

The index rose by 220% in 2013 to 2,237.

Global rebalancing — the tanker scrapyard index?

Crude oil for March 2014 delivery is trading on the Chicago York Mercantile Exchange (CME/Nymex) at $96.81 up 17 cents from Friday's close. In London, Brent for March 2014 delivery is trading on the International Commodities Exchange at $107.13. The North Sea benchmark accounts for two-thirds of the global market.

Finfacts, July, 15, 2013: US West Texas Intermediate oil benchmark jumps in July - - margin between WTI and Brent falls.

Gold spot price

The spot price of an oz of gold is trading on the CME in Chicago at $1,262.10 down $2.20 from Friday's closing - - the gold price fell 28% in 2013, the biggest annual plunge since 1981.

Gold had hit a record high of $1,921.15 a troy ounce on Sept 06, 2011.

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