A round-up of today's other stories in brief.
€1.3m for Irish Life chief
Outgoing Irish Life & Permanent chief executive David Went earned a total remuneration package of €1.3 million in 2006, up 17 per cent on the pay package he received in 2005.
The remuneration included a salary of €800,000 and a bonus of €480,000.
Group finance director Peter Fitzpatrick took home the second highest package, earning €788,000 in 2006.
The chief executive of Permanent TSB, Denis Casey, who will take over from Mr Went as group chief executive, earned a total of €602,000 last year.
Mr Fitzpatrick's and Mr Casey's remuneration packages were marginally lower than the previous year, as their bonuses fell.
Kevin Murphy, the chief executive of Irish Life retail, earned €582,000 in 2006, up from €553,000 in 2005.
Gillian Bowler received €300,000 for her non-executive role as chairwoman, up from €240,000 in 2005.
Timoney signs deal with Terex
Co Meath suspension system manufacturer Timoney Technology has signed a licence agreement with global vehicle manufacturer Terex Equipment, which will use a jointly designed suspension axle in its articulated dump trucks.
Timoney Technology said the agreement with Terex marked a breakthrough for the firm.
Court date for Hibernian case
The High Court has set a date to hear a case in which the group human resources director with Hibernian Group claims he is being dismissed under a "bogus reconstruction plan".
Brian Dalton has claimed the recently appointed chief executive of Hibernian, Stuart Purdy, had used sexually offensive and obscene language to him and others and that Mr Purdy's treatment of himself and others and "autocratic management style" were damaging to the company's business.
The claims are denied.
Ms Justice Laffoy fixed June 19th for the hearing.
Nokia rings up bumper profits
Nokia , the world's largest mobile phone maker, rubbed salt in the wounds of Motorola, its main rival, by reporting a first-quarter net profit of €€979 million ($1.3 billion) compared with the US company's $181 million net loss.Competition between the two has transfixed the industry, but Motorola's ill-fated attempt to build market share by slashing prices has backfired and the Finnish company has exploited its weaknesses. - (Financial Times service)
Merrill Lynch's strong results
Merrill Lynch yesterday continued the run of very strong results from Wall Street banks, reporting a 31 per cent increase in operating earnings in the first quarter with its international operations again outpacing the US.
Pre-tax earnings from its markets and investment banking operations jumped 48 per cent to $2.3 billion on revenues up 43 per cent, in spite of the equity market weakness in February and the problems in the US subprime mortgage sector.
While Wall Street is enjoying bumper profits, US retail banks are finding life more difficult, but Bank of America still managed to post a 5 per cent increase in net income to $5.26 billion, or $1.16 a share. - (Financial Times service)
