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The Pfizer-Wyeth biotechnology campus at Grange Castle, West Dublin, Ireland.
ECB: The Wall
Street Journal reports that the European Central Bank is working on a plan to
keep struggling Irish banks afloat in the medium term, a Eurozone
central-banking official said Sunday.
The new facility would aim to replace the use of so-called Emergency Liquidity
Assistance, the official said. The program offers a form of central-bank lending
that is meant to tide banks over when they are faced with short-term
emergencies, but which has become an essential form of funding for Irish banks
since last summer.
A source quoted by the Reuters news agency has
said European Central Bank support should mean Ireland will not have to spend
more than the €35bn set aside to recapitalise its banks in the EU-IMF bailout
Meanwhile, figures today issued by the ECB showed that the central bank ended a
three-week pause in its government bond-buying programme last week. It spent
€432m as market tensions about a possible bailout of Portugal rose.
Pfizer: The US
pharmaceutical company Pfizer has told workers at the former Wyeth biotechnology
campus at its Grange Castle plant in Clondalkin West Dublin, that it is seeking
The company said it would be seeking around 60 to 80 lay-offs, and details have
yet to be finalised.
Pfizer also said there would be growth in some areas of the facility over the
coming period, and as a result, the overall impact on job numbers has yet to be
Pfizer currently employs 1,200 people at Grange Castle.
Last year Pfizer announced the closure of a research facility at Sandwich in
Kent where more than 2,000 are employed.
CNBC's Diana Olick has the details from last month's home sales and insight on why the commercial real estate industry is thriving, with Chris Macke, CoStar Group:
Irish-Malaysian oil services firm today reported that full-year profit rose by
52% in 2010, boosted by strong growth in the Australasia region.
Kentz is listed on London's AIM small companies
market and its customers include Chevron, Royal Dutch Shell, BP and Exxon Mobil.
It said it planned to grow through acquisitions
and the full-year dividend was raised by 67% to 10 cents a share.
Kentz reported that about 42% revenue is from the Middle East and it has
experienced no material impact on any of its projects due to the political
crisis in the region.
Pretax profit rose to $67.5m in 2010 from $44.5m the previous year.
Revenue climbed 50% to $1.06bn.
Tourism Ireland: Air access from the US to Ireland is up 6% for summer 2011,
or almost 1,550 additional seats per week when compared with summer 2010. A
total of 115 departures per week from eight US gateways will provide 27,241
seats each week.
Tourism Ireland, the all-Ireland agency, today welcomed the announcement
by American Airlines of the re-launch of its daily flight between Chicago and
Dublin. The year-round service, which will commence on 5 April, will certainly
help boost tourism business from the all-important US market to Dublin and the
island of Ireland. Niall Gibbons, chief executive of Tourism Ireland, said:
“We look forward to working closely with American
Airlines to maximise the promotion of this new route. As an island, direct,
convenient and competitive access services are critical to achieving growth in
inbound tourism. Tourism Ireland is committed to working with American Airlines,
Dublin Airport and other tourism interests to drive demand for this new service,
and all other services to the island of Ireland, and to help maintain our vital
network of routes and services.
“The US is a key tourism market and the second-largest source of visitors for
the island of Ireland and we have a strong and comprehensive promotional
programme under way there this year. We are communicating strongly that the
island of Ireland is a great place to visit, is easily accessible from the US
and offers tremendous value for money.”
CNBC's John Harwood has the latest on President Obama's address to the nation tonight:
In New York Monday, the Dow is up
20 points or 0.16% to 12,240.
The S&P 500 added 0.12% and
Nasdaq advanced 0.07%.