A round-up of today's other stories in brief

Galway firm acquired by Valeo

Galway firm Connaught Electronics (CEL) has been acquired by French industrial group Valeo for an undisclosed sum.

CEL specialises in the production of camera applications for driving assistance. It employs about 280 people at its head office in Tuam and a further 40 in the Czech Republic.

The company was established in 1982 by Dr Joe McBreen and Frank Clancy.

Valeo has 131 production sites and employs 71,100 people in 29 countries.

CRO moves to Carlow premises

The Companies' Registration Office (CRO) is moving under the Government's decentralisation programme.

From Monday all annual returns and postal statutory filings should be sent to its new premises in Carlow.

The move is the first stage in the decentralisation of the CRO. The new address is: Companies' Registration Office, O'Brien Road, Carlow.

Schull find for Island Oil

Exploration company Island Oil & Gas said it has found gas-bearing sands at its Schull well in the Celtic Sea. The company, which has a 62.5 per cent interest in the field, said preparations to conduct testing operations were under way.

New boards for Treasury Holdings

Property group Treasury Holdings has established three new boards - Treasury Ireland, Treasury China and Treasury UK - to facilitate growth in its three key markets.

Kevin Kelly will chair the Treasury Ireland board, and will be joined by founder director John Ronan, chief executive John Bruder, non-executive director Paddy Teahon, and group finance director Guy Leech.

These board members also sit on the Treasury group board, the make-up of which is unchanged.

Five new executives have been appointed to the Treasury Ireland board: Dee Ahearn, Rob Davies, Jodie Hearne, Brian Henning and Sonja Price.

US economic growth rebounds

US economic growth rebounded during the second quarter to its strongest pace since the beginning of last year on a surge in investment, more government spending and a better trade performance, the US commerce department said yesterday.

Gross domestic product increased by 3.4 per cent on an annualised basis after barely growing at a downwardly revised 0.6 per cent pace in the first quarter. - (Reuters)

BCI defers radio service adverts

The Broadcasting Commission of Ireland (BCI) has temporarily deferred the advertisement of three commercial radio services, to "prioritise and progress" the development of digital terrestrial TV over the coming months. The stations include a classic rock service for greater Dublin, and two country and Irish services for the northeast and midwest.

52% rise in profits for Indian publisher

Jagran Prakashan, the Indian publisher in which Independent News & Media has a 20.8 per cent stake, has reported a 52 per cent rise in first-quarter profit.

The company said net profit rose to 347 million rupees (€6.2 million), from 229 million rupees in the same period last year.

Value of Irish-held stocks down €85m

The total value of stocks held by Irish industry fell by €84.9 million to €9.186 billion in the first quarter of the year, according to the Central Statistics Office.

Capital acquisitions came to €976.9 million in the first quarter, compared to €1.14 billion in the same period of 2006.