A round-up of today's other stories in brief

LVMH posts 13% rise in sales

LVMH, the world’s biggest luxury group, beat forecasts yesterday with a 13 per cent rise in fourth-quarter comparable sales, boosted by a strong Christmas, and raised its dividend 27 per cent.

LVMH, whose Louis Vuitton brand accounts for half of group operating profit, benefited from Chinese shoppers’ growing appetite for luxury goods at home and abroad as well as from a steady rise in discretionary spending globally.

It posted a 2010 profit from recurring operations of €4.32 billion. – Reuters

US jobless numbers drop to 9%

Job creation in the US came nearly to a halt in January, yet the unemployment rate plummeted to 9 per cent, according to a new report.

Employers added 36,000 jobs last month, the Labor Department said yesterday, far fewer than the 145,000 economists had forecast.

The low numbers suggested that last month’s snowstorms probably kept people from looking for work. The unemployment rate fell to 9 per cent from 9.4 per cent as the number of people describing themselves as employed rose by 589,000.

The jobless rate was 9.8 per cent in November, and economists believed it would take until the end of this year to decline to 9 per cent.

Instead, it reached that level the first month of the year. – (Bloomberg)

Gabbro profits rise 22% to €312,724

Gabbro, a company controlled by broadcaster Gay Byrne, saw profits increase by 22 per cent to €312,724 last year.

Accounts at the Companies Registration Office for the year to the end of May 2010, show that profits increased to €312,724 up from €255,816 the previous year.

Equity shareholders’ funds stood at €312,724 as of May 31st last.

The shareholders of the company are listed as Gay Byrne, Kathleen Byrne, Crona Byrne and Susan Byrne.

Bank of Ireland has a charge over a €1 million Norwich Union life assurance policy.

Aminex to increase stake in Nyuni well

Oil and gas firm Aminex plans to increase its stake in a Tanzanian gas block through a farm-in arrangement with Key Petroleum.

Aminex said yesterday it intends to increase its interest from 50 to 65 per cent in the Nyuni production sharing agreement. Under the terms of the deal, Aminex will fund 20 per cent of the dry hole cost of the forthcoming Nyuni-2 exploration well in exchange for the additional 15 per cent. The stake being acquired includes the Kiliwani North gas discovery.