A round-up of the day's other news stories in brief.
AOL and MSN discuss co-operation
Internet groups AOL and MSN, owned by Time Warner and Microsoft respectively, are in talks regarding co-operation in their search and advertising network businesses, according to people involved in the discussions.
The talks, which have been going on for several months and come against a backdrop of rapid change at AOL following its relaunch as a free portal aimed at building audience share and increasing advertising, could result in some co-operation, but any concrete steps might be some time away.
Time Warner shares rose by 2.85 per cent to $18.43 by midday yesterday in New York following reports the group was in advanced discussions to sell a stake in AOL to Microsoft.
Officials at Time Warner declined to comment. However, people familiar with the groups indicated the talks had not advanced to anywhere near this level, although Microsoft could "become an investor in AOL" at some point.- (Financial Times service)
Waterford to delist from Nasdaq
Waterford Wedgwood said yesterday that it would delist from the Nasdaq market on September 20th. The firm's shares have traded under the $1.00 level for more than 30 days, thus forcing the delisting. Waterford said its American Depositary Shares (the shares that trade on the Nasdaq) had traded in "very small volumes". The shares represent just one eighth of one per cent of the group's outstanding share capital. The company also indicated it was happy to give up "the increasing cost burden" of the listing. Waterford will continue to be quoted in Dublin and London.
Thornhill is new IPSO chairman
Payments industry body, the Irish Payment Services Organisation, has appointed Dr Don Thornhill as its first independent chairman. Dr Thornhill is a former assistant secretary with the Revenue Commissioners and a former secretary general of the Department of Education and Science.
Minco reports €48,000 losses
Minco, the London-based precious metals company, has reported aftertax loses of €48,000 or 0.01 cent per share for the six months to the end of June. The group said there had been further "positive drilling results" from its joint venture at Pallas Green in Limerick, where it is exploring a lead zinc deposit.
CPL doubles full-year profits
Listed recruitment group CPL announced stellar full-year profits yesterday and turnover that topped €100 million for the first time. Profits more than doubled to €5.4 million from €2.6 million in 2004 on sales that were 42 per cent higher at €105 million.
Intel spend $345m on US expansion
Intel, the world's largest microchip maker, said yesterday it planned to spend $345 million (€282 million) to expand the capacity of two wafer fabrication plants, in Colorado and Massachusetts.
The plants make chips for communications and flash memory, which are used in digital music players and cameras. - (Reuters)
'Sunday Times' editor steps down
The editor of the Irish edition of the Sunday Times, Fiona McHugh, is to step down from the position.
Ms McHugh, who has been editor for the last five years, plans to open a food business. The Irish edition of the Sunday Times had a readership in the first half of 2005 of 365,000, up 16 per cent on the previous year.
Internal candidates, including news editor John Burns and business editor Frank Fitzgibbon, have been mentioned as potential successors.
