Gross domestic product rose at a 4.2pc annualised rate, up from an initial
estimate of 4pc and following a first-quarter contraction, Commerce department
figures showed yesterday in Washington. The median forecast of 77 economists
surveyed by Bloomberg called for a 3.9pc gain. Corporate profits climbed by the
most in almost four years.
Irish Distillers' successful Jameson brand is
powering ahead in export markets including the US, but the industry is slowing
Sales of Jameson reached 4.7 million cases in the full year 2013-2014, the
company said. That is 9pc higher than the previous year, both globally and in
the US, its biggest single market. By price, the gain was 12pc.
Sean Mulryan's Ballymore Group is back in profit for the first
time since the crash. The Irish construction group is now on course to exit Nama
by the end of the financial year with its loans paid off in full.
West Pharmaceutical Services, a $3 billion New York Stock
Exchange-listed pharmaceutical firm, is in talks with the IDA about making an
investment of hundreds of millions in the southeast creating hundreds of new
Peace, love and harmony – that’s our thing. Honestly. But, oh my,
I opened a can of worms last week when I reported some choice comments by
Ryanair’s Michael O’Leary about Christoph Mueller, the chief executive of Aer
Chris Johns: Economists often complain that they can’t do
laboratory experiments, something which explains why the profession only
pretends to be a science. Because evidence – data – is so sparse, many
controversies remain unsettled. However, the current extraordinary developments
in the British labour market might be one occasion where we can point to
definitive results of an unusual lab-style investigation.
Hibernia REIT and IPUT plc both concluded residential and
commercial property deals as activity ramps up to take advantage of a recovering
Euro Topics: Finland and Sweden on path to Nato membership: Sweden and Finland will sign a host nation support agreement with Nato within the next weeks. This will enable the Alliance to deploy troops to the two Nordic countries, which will then be tasked with their maintenance and logistics. Nato membership is moving closer, the liberal Finnish daily Etelä-Suomen Sanomat comments: "No doubt about it, even if the host nation agreement deepens both Finland's and Sweden's ties to Nato, it still doesn't make them members of the military alliance. And as long as they don't belong to Nato they can't hope for any security guarantees. Nonetheless, the host country agreement shouldn't be underrated. By improving the conditions for taking in and supplying Nato troops in a crisis it makes Finland and Sweden more compatible with Nato. This makes the path to Nato membership and the security guarantees it entails shorter than it was."
France needs a dose of Thatcherism: Three prominent representatives of the left wing of France's Socialist party have been left without seats in the cabinet following the reshuffle. Now Paris must implement reforms without further delay, the left-liberal UK daily The Independent urges: "Hollande and his new team need some radically different policies if they are to succeed. ... As Sarkozy could at least recognise, France, like much of the rest of the eurozone, desperately needs to free up her labour market; to shrink the size of the state; to relieve business of burdensome regulation; and to scrap her chauvinistic industrial policy, which deters foreign investment. A dose, in other words, of Anglo-Saxon Thatcherism as well as the 'German' austerity is required - alien notions feared and loathed across France."
Global perspectives: IS more dangerous for Mid East than for West: The growing power of the IS militias in Iraq and Syria poses a far greater threat to the people of the Middle East than to those in the West, columnist Sunny Hundal writes on the blog of the Arabic news channel Al Jazeera: "In the eyes of many jihadis, the Islamic State has established the most successful and feared caliphate in recent history. That in itself has spurred many to join it. The immediate goal of the Islamic State is to forcefully take over other Arab states and bring their subjects under their own banner. The murder of Americans such as James Foley is meant to shock the world, to bring attention and attract more support. But make no mistake: The real threat from the Islamic State is to other Muslims in the Middle East. Sooner or later people across the Middle East will have to face up to this threat."
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