Categorized as: Syndicated News

Mainstream sells 25% stake for €100m investment

The Japanese trading house Marubeni has agreed to pay €100 million for a 25 per cent stake in Mainstream Renewable Power, the wind energy company controlled by Airtricity founder Eddie O’Connor.

The transaction is one of the biggest equity investments in an independent renewables company in recent times. It is the biggest single investment yet for five-year-old Mainstream, which is developing more than 40 wind and solar parks worldwide.

“This …

Euro zone manufacturing grows for first time in two years in July

Euro zone manufacturing activity grew for the first time in two years in July as factory output surged, a business survey showed today, suggesting the region may pull out of recession this quarter.

Commercial debt advice firms to be regulated by October

COMMERCIAL firms that want to offer debt management services to consumers will have to meet new Central Bank rules to stay in business.

Anglo executives seek single judge for pre-trial process

Lawyers for three former Anglo Irish Bank executives due to go on trial next January have asked for a single judge to “take control” of the pre-trial process amid concerns over adverse publicity.

Central Bank warns on easing austerity and lowers growth forecast

The Central Bank has warned the Government not to ease up on austerity in the Budget.

Eurozone stabilises as manufacturing/ services PMI hits one-and-a-half year high

The Eurozone manufacturing and services sectors stabilised in July as the PMI (purchasing managers’ index) hit one-and-a-half year high.

Euro zone loans to private sector shrink in June – ECB

Loans to the euro zone’s private sector shrank by more than expected in June, starving the economy of the funds needed to sustain recovery and piling pressure on the European Central Bank to take fresh action.

IMF distances itself from Ashoka Mody’s comments

The International Monetary Fund has rejected a call by its former chief of mission to Ireland for a significant reduction in austerity in the country.

Deutsche Bank expected to announce plans to cut balance sheet

Germany’s biggest lender, Deutsche Bank, is expected to announce plans to reach a minimum 3% overall equity to loans ratio in the next two and a half years.

ESB seeks partner to set up fibre network

Vodafone and BT Ireland are vying to partner ESB in building a €400 million super-fast fibre network, which will be strung across ESB poles and run directly into homes and businesses. It will be open for use by all internet providers in the market, and will provide serious competition in some areas for Eircom’s €1.5 billion fibre investment.