A roundup of today's other stories in brief.
Carroll raises stake in ICG to 19.78%
Liam Carroll, the property developer, has raised his stake in Irish Continental Group to 19.78 per cent, paying €25.00 for his latest batch of 18,867 shares.
The purchase price matches the €25 being offered by management buyout vehicle, Aella, to take over the company.
Thomas Cook on the right track
Travel company Thomas Cook said yesterday it was on track to hit year forecasts and expected cost savings from its recent merger to be higher than the €140 million originally seen.
Thomas Cook, which owns Panorama and Airtours since it merged with MyTravel, said UK holiday prices had been weaker than it had hoped, but that bookings in Scandinavia and its German airlines business would exceed its expectations. - (Reuters)
IN&M continues shares buyback
Independent News & Media yesterday bought back 140,000 of its owns shares in a continuation of its buyback programme.
The company paid between €3.31 and €3.40 for the stock, which will be held in treasury. Independent closed 12 cent stronger at €3.45 last night.
DCC pays €74m for CPL Petroleum
DCC has completed the €74 million acquisition of CPL Petroleum, the British oil distribution business. DCC agreed the purchase in July.
Elan's Alzheimer's drug on course
Elan and its development partner Transition Therapeutics have successfully completed the first phase of a series of clinical studies on a new drug intended to treat Alzheimer's disease. It is believed the second phase of testing will begin by the end of 2007 or early 2008.
Fitness Together plans expansion
The Colorado-based franchise Fitness Together has announced that it intends to expand its Irish and UK presence. The company opened its first Irish franchise in Rathmines in 2006.
Vivendi earnings as expected
French media and telecoms conglomerate Vivendi yesterday posted an expected 11 per cent rise in first-half underlying earnings and reiterated its full-year adjusted net income guidance.
The Paris-based company said first-half underlying earnings rose to €2.6 billion from €2.35 billion in the same period last year. - (Reuters)
PPR threatens to sue eBay
PPR, the French conglomerate that owns Gucci, Bottega Veneta and several other luxury goods brands, is threatening legal action against eBay if the online auction site does not crack down further on counterfeits sold on its website.
In an interview with the Financial Times, François-Henri Pinault, PPR's chairman and chief executive, said his company had been in talks with eBay for several months in a bid to improve the policing of fakes sold by the site's members. - (Financial Times service)
WTO looks into Chinese exports
The World Trade Organisation yesterday launched a formal investigation into allegations by the US and Mexico that China is unfairly subsidising exports through tax breaks and other incentives.
An independent panel will rule on the allegations, originally filed by the US in February.
Mexico, which has been overtaken by China as the second largest exporter to the US after Canada, joined the complaint shortly afterwards. - (Financial Times service)
