A round-up of today's other stories in brief.
Oil falls below $60 over Opec doubts
Oil dipped below $60 (€47.64) yesterday as investors doubted Opec's resolve to carry out supply cuts and focused instead on brimming fuel stockpiles in top consumer the United States.
A senior Opec delegate said on Thursday it plans to remove one million barrels per day (bpd) from oversupplied markets as soon as possible. But the group has yet to make an official statement and Opec president Edmund Daukoru said on Thursday talks were continuing among members on how to stem what he said a freefall in oil prices.
"It is a big surprise to the market that Opec has not been prepared to formally announce the decision to cut," said Frederic Lasserre, head of commodity research at SG CIB Commodities.
"It looks like it may take some time for Opec to decide how to allocate this cut and that is bearish, not bullish."
US crude fell 28 US cents to $59.75 a barrel by 1150 GMT, after dipping to a low of $59.60 in early trade. London Brent fell 30 cents to $59.70.
Some members of Opec would like the group to hold an emergency meeting, but Mr Daukoru said such a meeting would only be worthwhile if producers were ready to make a substantial cut from an official output ceiling of 28 million barrels per day (bpd). - (Reuters)
CRH appoints Máirtín Clarke
Building materials giant CRH named 27-year company veteran Máirtín Clarke as managing director of its European products and distribution business as CRH further develops the €6 billion division.
Mr Clarke is currently managing director of CRH's European concrete products business, which is based in the Netherlands. The 49-year-old executive previously held senior positions in CRH's cement, clay, glass, and brick businesses.
"Over the past five years Máirtín has built a substantial concrete products business with a strong leadership position in the European market," said Liam O'Mahony, chief executive of CRH.
Average weekly wages rise 5.5%
The average weekly earnings of full-time employees in firms with a staff of five or greater working in the distribution and business services sectors climbed 5.5 per cent to €673.48 in June from a year earlier.
In distribution alone, average weekly earnings rose 6.9 per cent to €684.98, while staff in the business services sector commanded a 4.6 per cent increase, to €666.82 a week, Central Statistics Office (CSO) figures showed.
The highest average weekly earnings, at € 850.39, went to workers in post and telecommunications. The lowest weekly earnings in June were in the accommodation and catering sub-sector, at €429.14, the CSO said.
'No barriers' to NI economic success
Minister for Finance Brian Cowen said there are no fundamental barriers to prevent Northern Ireland from fulfilling its ambition of replicating the Republic's economic success.
The Government is focusing on fostering greater North-South economic cooperation by taking an all-island approach to research and development, infrastructure, electricity, and trade, the Minister told business leaders from both sides of the Border at a conference in Kildare's K Club. Mr Cowen pointed out that entrepreneurship is considerably lower in the North and should play a "vital role" in the development of Northern Ireland's economy.
