A round-up of today's other stories in brief
O'Reilly raises IN&M stake to over 26%
Independent News & Media chief executive Anthony O'Reilly has exercised options in the media group, bringing his total holding in the company to more than 26 per cent, according to a filing released to the stock exchange yesterday.
The announcement relates to almost 2.7 million shares and brings Mr O'Reilly's holding to more than 199 million units.
Stena augments Holyhead service
Ferry operator Stena Line plans to increase freight capacity between Dublin and Holyhead by introducing another vessel, after the route posted the company's biggest freight increase last year.
Stena Line will use an existing ferry from its North Sea fleet, the Stena Seatrader, to begin one round trip per day between Ireland and Holyhead from July. The number of freight vehicles travelling on the route rose to 173,000 in 2005, making Holyhead the main gateway for transport to and from Ireland, Stena Line said.
GE to expand into airports, toll roads
General Electric plans to expand its infrastructure business into areas such as airports and toll road development as part of the US conglomerate's new focus on organic growth.
The company has provided debt and equity funding for small-scale airport projects in North America, but plans to expand its presence in other areas such as power generation. It plans to support airport purchases and expansion projects, mainly in emerging markets. - (Financial Times Service)
Eurotunnel asks for debt waiver
Eurotunnel yesterday asked for its third debt waiver since January, saying it needed to bring all of its creditors together to devise a plan to stave off a cash crunch that threatens the company's status as a going concern.
The request, which is likely to be agreed, came as the company delayed reporting its 2005 results, saying the board did not want to approve the report and accounts until creditor talks were advanced. As recently as March 29th, the company said the results would be published today. - (Financial Times Service)
Opec 'tested to limit' over output
Demand for oil has tested the Organisation of the Petroleum Exporting countries (Opec) to the limit, the International Energy Agency (IEA) said yesterday.
Opec will have to increase output this year to meet global demand and make up the shortfall from Russia, Nigeria and from other, non-Opec, producers, the IEA said.
Nigeria had seen one- fifth of its output go offline after recent attacks by militants.
Concerns over supply disruptions helped push Brent crude oil prices to $69.97 (€57.82) a barrel yesterday. - (Financial Times Service)
Value of IEX market doubles
The value of the small companies IEX market has more than doubled to €1.17 billion since the market was launched one year ago, according to the Irish Stock Exchange.
Six new companies have joined IEX since its launch in April 2005.
Gold explorer appoints director
The board of Persian Gold, the Iranian gold explorer, has announced that Dr Manouchehr Takin is joining the board.
Mr Takin has 40 years' experience in natural resources and was educated in Iran.
