A roundup of today's other stories in brief.
EU ready to offer greater farm tariff cuts
The European Union yesterday signalled its readiness to offer bigger cuts in farm tariffs in the Doha round of trade talks, but insisted that such a move must be met by concessions elsewhere.
The G20 group of developing countries, led by Brazil, has asked for an average 54 per cent cut, and the US has called for a reduction of 66 per cent.
A spokesman for Peter Mandelson, the EU trade commissioner, responding to reports that Brussels was offering to raise its average cut to around 50 per cent from its current position of 39 per cent, confirmed that the European Union would consider "moving towards but certainly not as far as" a 54 per cent cut. - (Financial Times service)
Elan director to step down
Biotech group Elan has announced that non-executive director Nancy Lurker will resign from the board at the end of the month.
Ms Lurker, who has been a director with the neuroscience biotechnology company since 2005, was recently named chief marketing officer of Novartis Pharmaceuticals. To avoid a possible conflict of interest, she agreed to leave Elan's board.
German producer prices rise 6.1%
Data showing German producer prices rising at their fastest rate in 24 years have added to speculation that the European Central Bank (ECB) will raise rates by more than a quarter of one per cent when its governing council meets in two weeks' time.
According to Germany's federal statistics office, factory gate prices rose by 6.1 per cent in April, gathering pace on March's 5.9 per cent rate. The strength of the increase reflects the impact of higher energy prices, especially natural gas.
Mittal's Arcelor bid rises to €22.7bn
Mittal Steel, seeking to win back eroding investor support for its bid for Arcelor, raised its offer by more than one-quarter and dropped a key demand for family control over the combined global steel giant.
In a surprise move just a day after the hostile bid was formally launched, Mittal boosted the total value of its offer to €22.7 billion.
Lakshmi Mittal has also offered to bring his voting rights in a new combined company to less than 50 per cent, which is seen as a significant concession. - (Reuters, Financial Times service)
Blackrock director buys 60,000 shares
Blackrock International, the Fyffes property spin-off that began trading earlier this month, said yesterday that non-executive director Declan McCourt had bought 60,000 shares in the company. This brings his total holding to 110,000 shares, equal to 0.02 per cent of the issued share capital.
Dollar gains on euro, sterling
The dollar rebounded against major currencies yesterday, following sharp declines earlier in the week. By midday in New York, the euro fell 0.9 per cent on the day to $1.2746. Sterling dropped more than 1 per cent to $1.8748. The dollar also extended gains against the Swiss franc and the yen.
IN&M executive exercises options
Independent News & Media's chief financial officer, Donal Buggy, has exercised share options in the media group equal to €39,474.
The company said yesterday Mr Buggy had acquired 20,000 shares in the group through its share option and retention scheme, bringing his total holding in the group to 55,547 units. This is equal to 0.07 per cent of the total issued share capital.
