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

Concern at US storm sees oil soar above $77

Oil soared above $77 (€66.20) yesterday as a tropical storm strengthened and headed toward the Gulf of Mexico, threatening US oil and gas rigs still recovering from last year's devastating hurricanes.

Concern about the storm's effect on energy supplies to the world's largest consumer supported prices even as US data showed petrol stocks fell less than analysts had expected.

London Brent crude rose $1.38 to $77.27 a barrel in the afternoon. Brent is less than a dollar below its July record of $78.18. US light crude rose $1.29 to $76.20 a barrel.

Brent is at a rare premium to US oil because European markets are more directly affected by real and feared supply disruptions in Nigeria, Russia and the Middle East. - (Reuters)

Cadbury's recall costs £20m

Shares in Britain's Cadbury Schweppes rose on relief that the cost of its salmonella-related chocolate recall was lower than feared, but its UK chocolate sales still fell 14 per cent in July.

The world's largest confectionery group, which makes Dairy Milk chocolate, Trident gum and Dr Pepper drinks, put the cost of the recall at £20 million (€29.3 million), but it could not quantify the impact of sales through the second-half of 2006.

Cadbury shares rose on relief the cost was not as high as the worst fears of up to £40 million, while it reported first-half results in line with expectations. - (Reuters)

Elan executive earns $386,700

Dr Lars Ekman, president of global research and development at Elan, has made a profit of $386,700 (€302,250) before expenses by exercising share options in the company and subsequently selling the shares.

Dr Ekman exercised options over 30,000 shares at $2.11 on Monday and then sold the shares at $15 each. Elan was trading at $14.81 in New York yesterday.

Standard Life's Irish sales up 64%

Standard Life's Irish sales rose 64 per cent in the first half of 2006 to €26.3 million, according to figures released yesterday, in the company's first earnings update since its stock market debut in July.

The growth in sales is ahead of the market average among life companies for the first half of the year, which is placed at 22 per cent by actuarial consultants Life Strategies.

The company said the increase in sales had been driven by its Synergy range of investment funds, which were launched in the first half of 2005.

Food sector hit by rising energy costs

Rising energy prices are putting increasing pressure on the food and drink industry and risking tens of thousands of jobs in the sector, Food and Drink Industry Ireland (FDII) said.

The group, part of employers' group Ibec , has called on the Government to tackle the issue. The gross output of the Irish food and drink industry is valued at €17 billion and accounts for more than 20 per cent of manufacturing output and 9 per cent of GDP.

"Escalating energy costs are putting an already pressurised sector under intolerable strain," said Paul Kelly, director, FDII.

B of I names global markets chief

Bank of Ireland has appointed Kevin Twomey to head its global markets division.

Mr Twomey, who joined the bank in 2001, has held various positions within the global markets unit.