A round-up to today's other stories in brief
Leading US indicators fell in February
Disappointing data on the state of the US economy emerged yesterday, prompting a pause on stock markets. The index of US leading indicators fell in February by 0.2 per cent. Its January reading was revised down from 1.1 per cent to a 0.5 per cent rise.
US stocks were static after the news in advance of a speech by Federal Reserve chairman Ben Bernanke at a meeting of the New York Economic Club.
Cathy Minehan, president of the Boston Federal Reserve, said yesterday that the US economy remained strong in the short term, despite the data, but pointed to the US's so-called "twin deficits" as a growing long-term risk.
"The large US budget and current account deficits pose more serious risks to the economy. I am concerned that we are living beyond our means," Ms Minehan said.
Eirx in deal on drug manufacture
Eirx Therapeutics, the Cork-based company that develops cancer therapies, has entered into an agreement with PR Eurochem, a synthetic chemistry company, for the manufacture of a compound it is using to tackle cancer.
Eirx, which is listed on London's AIM, also said it had successfully completed development work on the second generation of its cell-screening technology.
$22m payment for bank executive
Bank of America on Monday said it had awarded chief executive Kenneth Lewis $22 million (€18 million) in payments for 2005, down 3 per cent from a year earlier, as the US's second-largest bank's shares lagged those of its peers.
Mr Lewis joined the chief executives of two other big US banks, Wachovia and Wells Fargo, in getting lower payment in 2005.
Preliminary data released Monday by the Corporate Library, a governance research group, suggest the pace of growth in pay for US chief executives may have slowed in 2005. - (Reuters)
Warning on staff use of internet
Smaller companies should monitor and control the use of the internet by their staff to avoid "legal and financial risks" from improper use of e-mail and other online services, Enterprise Ireland said yesterday.
The State body, which supports indigenous business, said in a new e-business guide for small and medium-sized companies that managers should develop policies to ensure their companies comply with the law governing the internet.
US lawyer joins competition body
A US competition lawyer, Carolyn Galbreath has been appointed to the Competition Authority. She will take up her position on April 18.
She has experience in US and European competition law. She prosecuted international criminal cartel cases as a trial attorney at the San Francisco office of the antitrust division of the US department of justice.
Delta strike threat hits bookings
Delta Air Lines yesterday warned that a threatened strike by pilots was discouraging bookings, although its chief executive said he expected a deal to head off any industrial action.
The carrier is in a heated dispute with its pilots over extra concessions sought as part of a turnaround plan after filing for bankruptcy protection last September.
Delta's pilots' union says it will strike if an arbitration panel gives management the go-ahead to void existing contracts, with a decision due by April 15. - (Financial Times service)
