• Clearing house cuts margin on Irish bonds
  Clearing house LCH.Clearnet has cut the cost of using Irish government bonds to raise funds to 15% from 25%.

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• Obama wants to cut corporate tax rate to 28%
  US President Barack Obama today unveiled plans to lower the top corporate tax rate to 28% and choke off lucrative loopholes.

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• US second hand homes sales jump
  Sales of previously occupied US homes surged in January, as buyers took advantage of depressed prices and low borrowing costs.

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• Microsoft files EC complaint against Motorola
  Microsoft has filed a complaint against Motorola Mobility with the European Commission.

  More……

• Peacocks sold but 3,000 jobs to go
  Over 3,000 jobs were lost in the UK today after fashion chain Peacocks was sold out of administration.

  More……

• UK banks pay out £1.9 billion for mis-selling
  British lenders paid out a record £441m sterling in compensation for insurance mis-selling in December.

  More……

• Major AIB art works to go to State
  AIB is to donate 39 of its most valuable pieces of art to the State.

  More… (http://www.rte.ie/news/2012/0222/aib-business.html)

• NAMA claims that Treasury can’t be rescued
  The Treasury Holdings Group of companies is insolvent, according to the National Asset Management Agency.

  More……

• Hartery to be next CRH chairman
  Nicky Hartery is to succeed Kieran McGowan as chairman of building materials group CRH.

  More……

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• Warning on credit union "merger mania"
  The Registrar of Credit Unions has criticised unplanned mergers between credit unions.

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• Headstrong and GPA announce new mental health partnership
  *Image: http://gaelicplayers.com/images/stories/headlaunch.jpg *

  At the launch of the GPA partnership with Headstrong were (l-r) Conor Lynam…

• Surplus boost for UK borrowing figures
  Hopes that the UK government will hit this year’s borrowing forecasts were boosted today.

  More……

• Today in the press
  The Government is considering offering the next operator of the National Lottery an extended licence of between 20 and 30 years.

  More……

• Building prices may have hit bottom
  Figures indicate that building costs have bottomed out and even increased slightly in the second half of 2011.

  More……

• Morning business news – February 22
  Food and ingredients group Kerry has reported adjusted pre-tax profits of just under ?450m for the year to the end of December.

  More……

• Finance costs lower ESB H1 profits
  ESB has reported a sharp fall in pre-tax profits for the first half of 2011.

  More… (http://www.rte.ie/news/2012/0221/esb-business.html)

• Portugal observes holiday, despite crisis
  The Portuguese government’s attempt to make people work more by scrapping the traditional Carnival holiday has flopped.

  More……

• Wal-Mart profit falls amid US price wars
  Wal-Mart, the world’s top retailer, said its fiscal fourth-quarter earnings fell by 15% as it cut prices in the US.

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• Eircom warns as revenue keeps falling
  Eircom’s performance in the six months to the end of December was below its targets.

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• Blank week for ECB euro bond buys
  The European Central Bank did not buy any euro zone countries’ bonds last week.

  More… (http://www.rte.ie/news/2012/0220/ecb-business.html)

• Fastway Couriers announces new branding
  Fastway Couriers has announced a phased nationwide rollout of new branding,

  More… (http://www.rte.ie/news/2012/0220/fastway-business.html)

• Murdoch starts work on new ‘Sun on Sunday’
  Rupert Murdoch began work today on the first Sunday edition of his top-selling British tabloid The Sun.

  More……

• Rory McIllroy keeps 2nd spot in golf?s world ranking s as Phil Mickelson rejoins the
  PHIL Mickelson is back into the world’s top 10 after just missing out on a second successive victory last night.

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• World oil prices hit nine-month peaks
  Oil prices hit nine-month highs today after Iran halted sales to France and Britain.

  More… (http://www.rte.ie/news/2012/0220/oil-business.html)

• Numbers claiming illness payment up 40%
  The Minister for Social Protection has started consultation on her plan to make employers contribute to paying for illness benefit for employees.
  …
• Santander fined £1.5m by UK’s FSA
  The UK’s Financial Services Authority has fined Santander £1.5m for failing to clarify a compensation procedure on some of its products.

  More……

• Lloyds Banking Group to claw back bonuses
  Some present and past executives of Lloyds Banking Group stand to have some of their past bonuses taken away, reports said today.

  More……

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• McGinley in contention
  PAUL McGINLEY swept to within reach of his first European Tour victory in seven years at the Avantha Masters yesterday as John Daly headed back to…
• Harrington digs deep to survive cut
  WHEN Phil Mickelson’s hot, he’s blistering. Conversely, when Padraig Harrington’s cold, he’s constantly seems to be fighting off frostbite.

  …

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• Petrol jump pushes US prices higher
  Official figures show that US petrol prices jumped 0.9% in January, pushing overall consumer prices up.

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• Murdoch to launch Sunday tabloid ‘very soon’
  Rupert Murdoch has said he will launch a Sunday version of British tabloid The Sun “very soon”.

  More……

• Minister critical of Franco-German statements
  The Minister for Social Protection has criticised joint press conferences by Angela Merkel and Nicolas Sarkozy and called for the EU to act in a…
• Optimism amongst leaders on Greek deal
  There is optimism that an agreement can be reached on Greece following a conference call between the German, Italian and Greek leaders.

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• Quality and Environmental Management Consultants
  C-technology are Ireland’s leading quality, health & safety and environmental management consultants…
• C-technology Upgrade QMS For EVM
  EVM employed C-technology (http://c-technologyqualityservices.com) to upgrade their quality management system in November 2011. The upgrading project…
• NAMA still "work in progress" – Burton
  Social Protection Minister Joan Burton has raised questions about the National Asset Management Agency.

  More……

• Virgin claims Bmi deal will put fares up
  Virgin Atlantic has made a formal complaint to the European Commission about IAG’s purchase of Bmi.

  More……

• Quinns given more time in contempt case
  The High Court has adjourned a contempt of court application against Seán Quinn, his son and his nephew.

  More……

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• Dublin’s CADS in ?55m reverse takeover
  Dublin-based company Captive Audience Display Solutions (CADS) has completed a ?55m deal.

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• A-Wear sale deal secures 460 jobs
  Fashion retailer A-Wear has been bought by a group of international investors, in a deal which secures 460 jobs at its 32 stores in the Republic of…
• Better US jobs and housing figures
  Hopes that the US economy is gaining momentum have been boosted by the latest figures.

  More… (http://www.rte.ie/news/2012/0216/usa-business.html)

• Dalton named as One51′s new CFO
  One51 has appointed Pat Dalton as its chief financial officer.

  More… (http://www.rte.ie/news/2012/0216/one51-business.html)

• Report warns on asset sale effects
  A report has said any decision on selling State assets should consider social and environmental costs and benefits.

  More……

• Apple unveils new Mac operating system
  Apple has today released a preview version of its new Macintosh operating system.

  More… (http://www.rte.ie/news/2012/0216/apple-business.html)

• Jameson owner’s concern over ads
  Sales of Jameson whiskey worldwide rose at an annual rate of 25% in the six months to the end of December.

  More……

• Examiner for building supply firm BHT
  BHT Group – which operates Tubs and Tiles, Heat Merchants and Brooks – has gone into examinership.

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• County Enterprise Board Restructuring
  The recent government Action Plan for Jobs 2012 (http://www.djei.ie/press/2012/20120213.htm) mentions that the current network of County Enterprise…

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• Domino’s Pizza boosted by online surge
  A surge in online pizza orders from people staying at home during the economic downturn lifted profits at Domino’s Pizza UK & Ireland.

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• Committee hears of lack of progress on notes
  Professor Karl Whelan told an Oireachtas Committee that the country could re-structure its debt in the morning if the ECB governing council said yes….
• World Bank’s Zoellick to step down in June
  World Bank President Robert Zoellick said he plans to step down on June 30 when his five-year term ends.

  More……

• US factory output jumps 0.7% in January
  US factories boosted output last month and December ended up being their best month for growth in five years.

  More……

• NAMA to recruit CFO as part of re-organisation
  NAMA is set to recruit a full time Chief Financial Officer as part of a re-organisation of functions at the agency.

  More……

• Kellogg snaps up Pringles for $2.7 billion
  Cereal maker Kellogg is to buy Procter & Gamble’s Pringles potato chip business for $2.7 billion.

  More……

• UK jobless rate hits a 16-year high
  The UK’s unemployment rate increased to a 16-year high in the last three months of 2011.

  More……

• Portugal pays lower rates in debt sale
  Portugal managed to raise ?3 billion at lower rates in a bond sale today, the national debt agency said.

  More……

• Irish drinks market "depressed" – Heineken
  Heineken Ireland said its turnover rose to ?464m last year in what it called a “depressed” trading environment.

  More……

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• Today in the press
  Contempt of court proceedings have been initiated against Seán Quinn, his son Seán Quinn jnr, and his nephew, Peter Darragh Quinn.

  More……

• Morning business news – February 14
  Recruitment firm CPL’s Peter Cosgrove has welcomed plans to engage the diaspora in efforts to create jobs.

  More……

• Rehn warns against ‘devastating’ Greek default
  European Union Economic Affairs Commissioner Olli Rehn voiced hope that Greece will secure a second bail-out soon.

  More……

• Oil rises after Moody’s downgrades
  Oil prices inched upwards in a subdued market after Moody’s warned it could downgrade ratings on three top-rated euro zone members

  More……

• Central Bank is reviewing financial ads
  The Central Bank says it has asked a number of financial services firms to change or withdraw advertisements.

  More……

• Fall in UK inflation rate continues
  UK inflation fell sharply in January after a rise in VAT a year earlier dropped out of the data.

  More……

• Surge in German investor optimism
  A closely watched survey has shown that German investor confidence rose sharply in February.

  More……

• Zurich tops most expensive city list
  A survey has shown that Zurich has topped Tokyo to become the world’s most expensive city.

  More……

• US retail sales up less than expected
  US retail sales rose by less than expected in January as consumers cut back on car purchases.

  More……

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• Rangers on the brink over tax bill
  Scottish football club Rangers has lodged legal papers signalling its intention to enter administration.

  More……

• 60% drop in home registrations
  The number of new homes registered last month fell by 60% compared with the same month last year.

  More……

• 30% millionaire tax in Obama budget
  US President Barack Obama has called for aggressive spending to boost growth and for higher taxes on the rich.

  More……

• Fitch downgrades four Spanish banks
  Credit rating agency Fitch has lowered the credit rating of four Spanish banks.

  More… (http://www.rte.ie/news/2012/0213/spain-business.html)

• Insurers used leaked welfare information
  Three insurance companies have pleaded guilty to breaching the data protection laws.

  More……

• Another ?800m to be invested in Corrib
  The group behind the Corrib Gas project is to invest another ?800m to bring it to completion.

  More……

• Italy raises ?12 billion, borrowing rates down
  Italy raised ?12 billion in a bond auction, with borrowing rates for short-term funds down.

  More……

• Tiger Woods left to rue another final day blow out as Phil Micleson wins Pebble Beach
  TIGER Woods’ long and winding journey back to the game’s pinnacle suffered another setback on Sunday when he battled his way to a final round 75 at…
• Spanish study results soon – Ormonde
  The results of a feasibility study on Ormonde Mining’s tungsten project in Spain will be announced by late February.

  More……

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• Harrington in the hunt
  CROWDS flocked to the AT&T Pebble Beach National Pro-Am hoping to see the reincarnation of Tiger Woods … and saw the old Padraig Harrington…
• Rory lights up desert with cool 65
  IF it pays to surround yourself with winners, then Rory McIlroy is in a pretty good place this weekend, on and off the golf course.

  More……

• ‘The dream of being a pro is from another time’
  All the ingredients are there for a heart-rending tale of cruel fate and broken dreams. How a leading amateur seemed headed for similar prominence in…

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