Today's other stories in brief
GE to focus on growth, says Immelt
Jeffrey Immelt, General Electric's chief executive, has indicated that the US industrial group will steer clear of large takeovers or divestments in the near term following yesterday's $11.6 billion (€8.6 billion) sale of its plastics business to Saudi Basic Industries Corp.
In an interview with the Financial Times, Mr Immelt signalled that, following a $26 billion deal spree over the past five months, GE would focus on returning cash to shareholders and growing its existing businesses.
Mr Immelt has spearheaded a transformation of GE's sprawling portfolio in an effort to move it away from low-margin businesses such as insurance and commodity chemicals towards higher-growth markets such as "clean" energy. - (Financial Times service)
Island Oil & Gas raises £13.7m
Exploration group Island Oil & Gas yesterday announced the completion of the share placing it announced last week, saying the £13.7 million (€20 million) raised will be used to fund the group's drilling and testing programme in the Celtic Sea.
The placing of 35.3 million shares was arranged by Davy and Bridgewell. In addition to the placing, Island said that 8.8 million warrants had been issued to the new shareholders on the basis of one warrant for every four placing shares held at an exercise price of 45 pence.
Regulator warns about 'adviser'
Consumers have been warned by the financial regulator to avoid dealing with an unauthorised firm called Harley Richard Financial Consultants, which claims on its website to be an authorised adviser and financial intermediary.
The financial regulator said the firm held no authorisation either here or in the UK, where it claims to be based, and it has referred the case to the Garda.
Information on the company's website, www.harrichgroup.com, appears to have been copied from the website of an unconnected firm that is fully authorised by the regulator.
Irish accountant takes top position
Brendan Murtagh of Dublin accountancy firm LHM Casey McGrath has been elected vice president of the Association of Chartered Certified Accountants, the largest professional accountancy body in the world.
Mr Murtagh, who was elected at the association's global annual meeting in London, can now expect to become president of the association in May 2009.
VHI contact centre opens
A new VHI Healthcare contact centre was officially opened in the Donegal Business Park, Gaoth Dobhair, yesterday.
The centre will employ 25 people and will complement an existing centre in Kilkenny. The new centre was opened with assistance from Údarás Na Gaeltachta.
Mortgage activity resumption 'likely'
A resumption of much needed activity in the mortgage market is likely after the general election, the newly appointed chairman of the Professional Insurance Brokers Association, Jack FitzPatrick, said yesterday.
Mr FitzPatrick said the other factor at play in cooling the market was rising interest rates.
