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Irish brothers' firm now worth $100m after Sequoia investment

Sat, 11 Feb 2012 05:00:00 GMT

SEVEN years ago they were in school and one was winning BT Young Scientist of the Year, now the Collison brothers are in California at the top of a company worth $100m (€75m).

25 scholarships for food graduates

Sat, 11 Feb 2012 05:00:00 GMT

POTENTIAL future food industry leaders are asked to apply for this year's MSc in International Marketing Practice programme at the UCD Michael Smurfit Business School. Bord Bia is providing 25 scholarships for the MSc, which combines academic learning with a foreign industry placement to identify opportunities for Irish food and drink in overseas markets. The closing date for applicants is March 5. For information visit www.smurfitschool.ie/bordbia.

IL&P's core rating slashed by Moody's

Sat, 11 Feb 2012 05:00:00 GMT

IRISH Life & Permanent's core credit rating has been cut to the second-worst notch used by ratings agency Moody's -- putting the ailing bancassurer's grade just marginally above that of Irish Bank Resolution Corporation (formerly Anglo).

Output rose in 2011 but debt crisis hit pace of growth

Sat, 11 Feb 2012 05:00:00 GMT

INDUSTRIAL output was up last year but the pace of growth slowed sharply, according to new figures from the Central Statistics Office (CSO).

Trouncing his rivals -- Irish bonds investor Hasenstab

Sat, 11 Feb 2012 05:00:00 GMT

THE US investor who placed a huge punt on Ireland is outperforming 98pc of rivals, according to new research by Bloomberg.

ECB loans to bailed-out banks static despite €15bn sector fall

Sat, 11 Feb 2012 05:00:00 GMT

BAILED-out banks' borrowings from the European Central Bank (ECB) remained virtually unchanged last month even though ECB loans to Ireland's overall banking sector fell by €15bn, the Irish Independent has learned.

Rabbitte predicts deal within weeks on €30bn Anglo bailout

Sat, 11 Feb 2012 05:00:00 GMT

COMMUNICATIONS Minister Pat Rabbitte has told a prominent US newspaper that a deal on Anglo Irish Bank's bailout will be struck "in the next few weeks" -- even though the Finance Minister Michael Noonan has repeatedly insisted that any deal won't be achieved "in the short term".

It's bailout or catastrophe, Papademos tells cabinet

Sat, 11 Feb 2012 05:00:00 GMT

Greek Prime Minister Lucas Papademos yesterday told his turbulent coalition government to accept a harsh international bailout deal or condemn the nation to catastrophe.

ECB's Draghi can play pivotal role in solving crisis

Sat, 11 Feb 2012 05:00:00 GMT

European Central Bank President Mario Draghi has taken a decidedly more activist and creative approach than his predecessor, Jean-Claude Trichet, toward supporting the euro-area economy and propping up its banks.

Debt crisis: More riots as Greek party wobbles on deal

Fri, 10 Feb 2012 14:16:17 GMT

VIOLENT clashes erupted between Greek protesters and police outside Athens parliament today.

Debt crisis: Running street battles erupt in Athens

Fri, 10 Feb 2012 14:16:17 GMT

VIOLENT clashes erupted between Greek protesters and police outside Athens parliament today.

Apple iPad 3 announcement 'in early March'

Fri, 10 Feb 2012 09:04:58 GMT

APPLE will announce the iPad 3 in the first week of March, it has been claimed.

Video: Barclays slashes bonus pool amid pressure over payouts

Fri, 10 Feb 2012 08:03:43 GMT

BANKING giant Barclays slashed the bonus pool for its investment banking arm by 32pc in 2011 to £1.5 billion amid mounting pressure over the controversial payouts.

Barclays slashes bonus pool amid pressure over payouts

Fri, 10 Feb 2012 08:03:43 GMT

BANKING giant Barclays slashed the bonus pool for its investment banking arm by 32pc in 2011 to £1.5 billion amid mounting pressure over the controversial payouts.

Eircom to miss €5.7m payment despite having the cash on hand

Fri, 10 Feb 2012 05:00:00 GMT

EIRCOM will not make an interest payment to lenders when it falls due next week.

Clinton tells tycoons: You'd be nuts not to invest in Ireland

Fri, 10 Feb 2012 05:00:00 GMT

FORMER US President Bill Clinton last night gave a ringing endorsement to our economy by urging some of the world's biggest investors to pump their money into it.

Bioethanol producer loses bit of its spark

Fri, 10 Feb 2012 05:00:00 GMT

US bioethanol producer Green Plains Renewable Energy generated net income of $38.4m last year -- 20pc lower than the previous year. Revenues jumped to $3.6bn from $2.1bn. Irish group NTR has a 20pc stake in the company.

Credit Suisse posts €500m loss for fourth quarter as €850m costs bite

Fri, 10 Feb 2012 05:00:00 GMT

SWISS banking giant Credit Suisse posted a surprise fourth-quarter net loss after taking almost CHF1bn (€850m) of charges to speed cost-cutting and offload risky assets to meet stiffer capital rules. "Our performance for the fourth quarter 2011 was disappointing," said chief executive Brady Dougan.

Compensation over volcano travel costs still up in air

Fri, 10 Feb 2012 05:00:00 GMT

THE European Court of Justice is unlikely to rule until the end of the year on a landmark case involving Ryanair and a passenger compensation claim.

Providence boosted by well update

Fri, 10 Feb 2012 05:00:00 GMT

PROVIDENCE Resources shares rose after the explorer issued a bullish update on its Barryroe appraisal well off Cork.

Some mortgage debt will be written off, admits NIB chief

Fri, 10 Feb 2012 05:00:00 GMT

NATIONAL Irish Bank chief Andrew Healy yesterday admitted that his bank was likely to write off some mortgage debt as a result of the Government's new insolvency rules. However, he insisted that the proposed regime would not trigger massive losses or widespread debt forgiveness.

Greencore chief Coveney defends €1.4m package

Fri, 10 Feb 2012 05:00:00 GMT

GREENCORE chief executive Patrick Coveney was yesterday forced to defend his €1.4m pay package amid testy scenes at his company's annual general meeting.

Etihad chief 'ready to sit down with Government' about Aer Lingus sale

Fri, 10 Feb 2012 05:00:00 GMT

The chief executive of Abu Dhabi airline Etihad, James Hogan, is "ready to sit down" with the Government if it formally puts its Aer Lingus stake up for sale.

Greece unveils budget deal to unlock €130bn bailout package

Fri, 10 Feb 2012 05:00:00 GMT

Greece yesterday unveiled a political deal over budget cuts that should unlock a €130bn aid package and enable Athens to avoid a potentially catastrophic default next month.

Stress tests will proceed despite EU postponement

Fri, 10 Feb 2012 05:00:00 GMT

THE Irish authorities last night insisted that banking stress tests would go ahead in November -- even though the Europe-wide review that they were timed to run alongside has been postponed until 2013, writes Laura Noonan.