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

Ireland part of ‘special factors’ in borrowing cost surge

European Central Bank executive board member Juergen Stark has confirmed that a surge in overnight borrowing costs was due to “special factors” mainly in Ireland. “It was a very short-lived event mainly due to developments in Ireland,” Mr Stark told reporters at an event in Frankfurt yesterday, without elaborating.

Asked whether he considered rising overnight borrowing costs a sign of re-emerging market tensions, he said: “I don’t think so.”

It emerged on Friday that overnight borrowing at the ECB had been pushed to its highest level since June 2009 as a result of the Government’s moves to sell the deposits and some other assets of Anglo and Nationwide. – (Bloomberg)

British high court rules for Kingspan

The British high court has ruled that a rival damaged the reputation of insulation specialist Kingspan and breached its trademarks by using misleading videos to support fire safety claims.

Rockwool Ltd, which also makes insulation materials for buildings, videoed a “fire test” to back up a claim that its products are safer than those of Kingspan. The video was used as part of a marketing roadshow.

The Cavan-based company subsequently took its rival to the British high Ccourt, which yesterday ruled that the test and video were misleading.

The court also dismissed Rockwool’s claim that the tests were appropriate and accurately carried out.

Kingspan yesterday welcomed the decision. A spokesman said that its insulated panels and boards met the most stringent UK standards.

Kelly and Pierse joint venture struck off

The Companies Registrar has struck off a joint venture involving the family of developer Paddy Kelly and the defunct Pierse Contracting firm.

Origin 8 Developments Ltd has been struck off the register for a failure to file annual returns. The move means that shareholders no longer enjoy the benefit of limited liability, but contracts can still be enforced against it.

Mr Kelly, his family and Pierse Contracting, which has been in liquidation since November, are shareholders in the company, which was involved in the development of the National College of Ireland in Dublin's financial services centre. It no longer has any connection with the college.