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Nokia: Shares in Nokia, the world’s biggest mobile-phone maker fell
almost 9% in Helsinki today, after the company with about 32% of the global
reported that net income dipped to €745m from €948m a year earlier. Sales
climbed 6% to €12.7bn.
Apple has has had big success with its iPhone smartphone and last week, it
reported a 78% jump in profit for the last three months of 2010 to $6bn.
In contrast, Nokia's profit tumbled 21%.
Finance Bill: The Finance Bill passed all stages in the Dáil today
with the Government winning the vote on the report and final stages by 81 votes
The Bill which incorporates provisions outlined in the Budget last December,
now goes to the Seanad.
Earlier Thursday, Labour's Joan Burton said she welcomed the Government's
amendment on bank bonuses, providing for the introduction of an effective tax of
90% on bonuses over €20,000.
Allied Irish Banks in a press statement said
"with regard to comments that
Deputy Joan Burton is reported to have made in the Dáil today relating to AIB
bonus payments, we'd like to make it clear that the bank is not making any such
EU: The European Commission today said it would take
Ireland to the European Court of Justice over an exit tax it
imposes on companies which cease to be tax resident in
Under Irish law a company is taxed on 'unrealised'
capital gains when it transfers its offices to another
member state. Transfers within Ireland are not taxed the
The Commission claims that this is discriminatory and
would hinder companies in their right under EU treaties to
freedom of establishment.
The Commission sent formal notice to the Government in
November 2009, and has issued today's follow-up in the form
of a reasoned opinion.
If there is no satisfactory response within two months
then the Commission may refer Ireland to the European Court
of Justice. Portugal, the Netherlands, Spain and Denmark
have already been referred to the Court on the same issue.
Davos 2011: Timo Ihamuotila, CFO of Nokia told CNBC the quarter was in line with the group's expectations, adding he was pleased with the cash flow. "There is a lot of new competition in the mobile phone space," he said:
Irish Stock Exchange 2010:
Volume of trades
remains steady but equity turnover decreases by 14.6% year on year -
The ISE market statistics for 2010 show
that the number of trades dealt on the ISE in 2010 [2,117k] and the daily
average number of trades [8,334] remained steady when compared to the volume of
equity trades in 2009 [2,290k and 9,051 respectively]. Turnover decreased by
14.6% to €45.6bn during 2010 [2009: €53.4bn] reflecting a fall off in turnover
during the latter half of 2010.
Market capitalisation of equities admitted to trading on the
ISE ended 2010 at over €48bn, up 7% from the value recorded at the end of 2009.
Irish companies raised funds of more than €5.3bn over the year, more than
double the amount raised in 2009 [€2.1bn]. The most significant fund raising in
2010 was undertaken by Bank of Ireland plc [€4.2bn], of which €4.1bn was
undertaken in the second quarter. Other companies raising significant capital in
2010 included AIB plc [€149m], Providence Resources plc [€111m], Petroceltic
[€107m] and IFG Group [€67m].
Davos 2011: "There are pressures, there are tensions, but for the moment, governments have reasonably contained them. World trade today is as open as it was two years ago," Pascal Lamy, director general of the World Trade Organisation told CNBC:
In New York Thursday the
Dow fell 2 points to 11,984.
S&P 500 has dipped 0.06% and the Nasdaq has gained 0.17%.
The number of
Americans signing contracts to buy previously owned homes rose in December for a
third month, showing the industry is stabilising.
index increased 2.0% to 93.7 based on contracts signed in December from a
downwardly revised 91.9 in November. The index is 4.2% below the 97.8 mark in
December 2009. The data reflects contracts and not closings, which normally
occur with a lag time of one or two months.
Meanwhile, US orders for capital
equipment from the business sector - - items expected to last at least 10 years
- - rose in December for a second month, signalling evidence of growing business
demand for goods like mainframe computers, servers and communications gear
excluding aircraft, as the value climbed 1.4% after a 3.1% gain in November.
Initial weekly jobless benefit claims jumped 51,000 last week, partially
relating to the processing of a backlog of claims resulting from bad weather