Compiled by John Collins.
Quote of the Week . . .
"The recent liquidity disruption is significantly worse than the events of 1998."
- John Stomber, chief executive of quoted US private equity group Carlyle, decides it's time to fess up to investors after giving a $200 million lifeline to a mortgage-backed subsidiary.
The Numbers
$2.4bnCost of the world's largest casino which opened in the former Portuguese territory of Macao this week
€609 millionEstimated cost of Dublin airport's Terminal 2, which is set to begin construction after getting permission from planners.
93%Increase in US mortgage foreclosures in July compared to last year
98:1Ratio of chief executives' pay to that of the average staff member at the top 100 listed UK companies
Good Week . . .
CRHThe building materials giant laughed in the face of housing doomsayers by posting a 27 per cent increase in first-half profits.
Eric NicoliThe EMI boss departed the music label with a £3.3 million pay-off as private equity firm Terra Firma took over. The former biscuit boss wasn't exactly a hipster but quite what Keith Richards and Mick Jagger will make of their new City paymasters is anyone's guess.
Irish Life & PermanentDespite a 19 per cent drop in new mortgage business the financial services group reported a 33 per cent rise in operating profit thanks to a strong performance in its life and pensions business
Bad Week . . .
Irish motor insurersNew figures showed that their profits plummeted 38 per cent in 2006 due to a sharp increase in the cost of claims. No need to shed a tear though - they still booked combined profits of €259 million.
Milk drinkersWhen announcing revenues broke €1 billion in the first six months of the year, dairy and ingredients group Glanbia cautioned that consumers could soon be paying more for a pint of the white stuff as Irish wholesale prices are set to soar.
LenovoNot only did Taiwan's Acer overtake the Chinese computer manufacturer as the third largest PC maker by agreeing to buy Gateway for $710 million, but in so doing got first refusal on the purchase of Dutch firm Packard Bell. Last week Lenovo announced it was in exclusive negotiations to buy the Dutch PC maker.
Quote of the Week 2 . . .
"The economic fundamentals in Europe are sound so that there is no immediate concern in the sense that growth and economic development in Europe might be seriously and sustainably affected by this situation."
- Despite European banks and conduit funds being bailed out and sold off, a European Commission spokesman puts a brave face on things.
