A roundup of today's other stories in brief.
IN&M buyback to continue
Independent News & Media will continue its share buyback programme after it enters a closed period today, the company said yesterday.
In a statement to the stock exchange, Independent said any shares it buys during its closed period would be purchased under an "irrevocable, non-discretionary programme" executed by Davy. This will see the broker making trading decisions in relation to Independent shares "independently of and uninfluenced by" the company.
EBay posts 50% rise in profit
EBay, which employs 1,200 people in Dublin, has posted a 50 per cent rise in net profit on the strength in its auction and PayPal units but left its 2007 outlook little changed, even though investors had hoped for more. Revenue as well as margins for eBay's auctions and fixed-price shopping grew, with revenue rising by 26 per cent. - (Reuters)
Resurgent SAP sales up 18%
Software maker SAP beat expectations on all fronts as resurgent IT spending in Europe carried licence sales 18 per cent higher in the second quarter. Licence sales, key to lucrative future business in maintenance and services, rose to €715 million, easily beating an average analyst forecast of €674 million.
SAP employs 640 people between sites in Galway and Dublin. - (Reuters)
Factory gate prices up 0.7%
Factory gate prices increased in June for the first time since January, rising by 0.7 per cent compared to May. However, on an annual basis, overall prices have actually fallen by 0.8 per cent from June of last year, although prices in certain sectors have risen.
For example, building materials are now 5.4 per cent more expensive than in June 2006 and energy products were found to have jumped by 9.3 per cent year-on-year.
Cork airport plan for DAA
The Cork Airport Authority (CAA) has agreed to forward a copy of the latest business development report on the airport to the Dublin Airport Authority (DAA) for consideration. The plan was due to be discussed at a CAA board meeting earlier this week but a decision on approving it was deferred because a number of board members were unable to attend.
It is understood, however, that the board agreed to forward a copy of the report to the DAA to whom the CAA owes some €220 million, including some €90 million for the new Cork airport terminal and a further €90 million for ancillary developments in Cork.
CRH in drive for homeless
CRH is joining the Simon Communities of Ireland and Simon Northern Ireland in a new charity venture that will see the group making an annual contribution of up to €1 million towards the campaign to end homelessness.
China's growth at 11-year high
China's annual economic growth surged to an 11½-year high of 11.9 per cent in the second quarter, cementing expectations for tighter policy to keep the world's fastest-growing major economy from overheating. - (Reuters)
Extra routes for Ryanair
Ryanair is to introduce 11 new routes at the end of October, including a route linking Dublin and Stockholm Skavista airport.
However, to accommodate these new routes, Malmo and Vasteras will no longer be serviced out of Dublin.
