Business

European energy contract win for First Derivatives

European energy contract win for First Derivatives

First Derivatives has won a contract to delivery an electricity information exchange for Fingrid, the transmission system operator for Finland. The Newry-based company has been selected alongside its partner CGI. Describing the contract as a “significant win”, the company said it further demonstrates its Kx technology‘s applicability, and opens up the possibility for further contract wins in the sector, as […]

Ibec issues stark warning about Ireland‘s competitiveness as it calls for boost to local firms and higher education

Ibec issues stark warning about Ireland‘s competitiveness as it calls for boost to local firms and higher education

Business and employer lobby group Ibec has issued a stark warning about Ireland‘s eroding competitiveness and urged the Government to arrest the decline by providing greater support to local industries, as well as injecting €250m into higher education. In its pre-Budget 2019 submission, Ibec warned Ireland‘s “tax and industrial base has become dangerously concentrated” and called on Finance Minister Paschal […]

Cerberus withdraws from home loan deals

Cerberus withdraws from home loan deals

Cerberus‘s appetite for soured Irish home loans has come under scrutiny after the US private equity giant withdrew recently from Permanent TSB‘s €2.2bn portfolio of non-performing residential mortgages. The New York-based distressed debt specialist dominated Europe‘s bad debt market in the wake of the crash and accumulated billions of euro worth of assets in Ireland, including owner-occupier mortgages in arrears. […]

T&Cs of Liberty Insurance‘s 400 Irish employees not affected by proposed merger

T&Cs of Liberty Insurance‘s 400 Irish employees not affected by proposed merger

The terms and conditions of Liberty Insurance‘s 400 Irish employees will not be affected by a proposed cross-border merger with a related Spanish entity, the Commercial Court heard. Liberty Insurance DAC, part of the US-based Liberty Mutual group of companies, with a registered office at Dublin Road,Cavan, is seeking permission from the court sanctioning a cross-border merger scheme. The application, […]

Financial regulator warned about potential CBL law breaches

Financial regulator warned about potential CBL law breaches

The Financial Markets Authority (FMA) warned about potential breaches of the Companies Act and Financial Markets Act by beleaguered insurer CBL, and its auditor Deloitte. Photo: Google Street View The FMA issued an update of its investigation this afternoon “due to investor interest”. Its preliminary assessment raised concerns about disclosures made as part of its initial public offer, continuous disclosure […]

Fletcher Building appoints new head to deal with construction

Fletcher Building appoints new head to deal with construction

Fletcher Building is making further changes to its top management as it appoints a new construction business head. KiwiRail chief executive Peter Reidy, left, has been appointed to run Fletcher Building‘s construction business. Photo: RNZ / Laura Tupou Fletcher Building appointed the current head of KiwiRail, Peter Reidy, to run its construction business. The current head of the construction division, […]

Services sector activity cooling – survey

Services sector activity cooling – survey

Services sector activity has fallen to its lowest level in five-and-a-half years, raising concerns economic activity may be slowing sharply. BNZ senior economist Doug Steel Photo: Supplied The Business New Zealand BNZ performance of services index fell to a seasonally adjusted 52.8 in June from 57.1 the month before. That was the lowest reading since December 2012, and below the […]