A round-up of today's other stories in brief.
An Post plans cost-benefit analysis
An Post is set to carry out a cost-benefit analysis of its universal service obligation (USO), which consists of its door-to-door postal collection and delivery service.
This is the only area of the market not open to competition and comprises letters under 50 grams in weight. Under the terms of the USO, An Post is required to provide for a collection and delivery service five days a week at a uniform price in the State. It is currently thought to be loss-making.
The move was prompted by the third EU postal directive, which is currently in draft form. That requires USO operators to carry out a comprehensive study of their markets.
New guarantee for Northern Rock
A new guarantee has been arranged with the British treasury to protect customers of beleaguered bank Northern Rock.
The treasury confirmed yesterday that the guarantee given by British chancellor Alistair Darling last month to cover all Northern Rock deposits in Britain and Ireland has been extended to new retail deposits made after September 19th and would remain in place until the financial markets become less volatile.
Call for greater transparency
Greater transparency is needed in the case of conduits or SPV (special purpose vehicles) markets, not only to better price risk and to have deeper and more liquid financial and inter-bank markets, but also to better assess banks' risk exposure in their off- balance-sheet operations, according to Gertrude Tumpel-Gugerell, member of the executive board of the European Central Bank.
Addressing the ninth ECB-CFS research network conference in Dublin on asset management, private equity firms and international capital flows, Ms Tumpel-Gugerell said: "However, even with more transparency, if - because of explicit or more implicit links - off-balance-sheet risks affect banks, then sufficient capital and liquidity buffers ought to be held against such 'outside' risks."
More passengers at Dublin airport
More than 2.1 million passengers passed through Dublin airport in September, according to figures published yesterday - a 9 per cent increase on the same month of the previous year and a new record for that month, according to the Dublin Airport Authority (DAA).
The authority said more than 17.8 million passengers had travelled through the airport between January and September, a year-on-year increase of 10 per cent.
Moody's negative on Waterford
Debt ratings agency Moody's has given a negative outlook to Waterford Wedgwood, the luxury goods company backed by its chairman Sir Anthony O'Reilly and deputy chairman Peter Goulandris. The agency has given a Caa1 rating, one notch below its rating for consumer durable companies.
The agency said in a note, released yesterday, that the company would "maintain a high credit risk profile going forward at a time when restructuring is still ongoing and consumer spending and the high-end ceramics market remains under pressure".
Northern Foods revenue up 2.6%
Northern Foods, the British group which owns Green Isle Foods in Ireland, said first half trading was in line with expectations despite a rise in commodity prices.
In an interim trading update, the company said underlying revenue increased by 2.6 per cent on the previous year.
It said there was a continuation in the robust performance of its Goodfellas pizza brand.
