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

Businessmen increase stake in UTV

Businessmen Peter Crowley and Neil Hughes have increased their stake in UTV to close to 13 per cent after buying €1 million worth of its shares.

The pair’s Organo Investments bought 1.35 million shares in UTV yesterday at an average of 70 pence sterling a unit, or a total of £945,000 sterling (€1 million). The move brings their holding in the Belfast-based broadcaster to 12.88 per cent.

It also edges the size of their stake closer to the 18 per cent held by the station’s biggest single shareholder, TVC Holdings, whose executive chairman is another Dublin-based businessman and investor, Shane Reihill.

Goulandris quits Waterford board

Waterford Wedgwood director and shareholder Peter Goulandris has resigned from the board of the group, which has been in receivership since the beginning of the month.

The company announced yesterday that Mr Goulandris, who together with his brother-in-law, Sir Anthony O’Reilly, owns 52 per cent of the business, was stepping down immediately. Mr Goulandris and Sir Anthony have invested €400 million in Waterford Wedgwood.

Kentz, GPS form exploration firm

Irish-Malaysian engineering and instrumentation group Kentz is joining forces with rival GPS to form a new business focused on contracting for oil and gas explorers and refiners. The pair will each own 50 per cent of the new company, Kentz Global Oil Gas Process Systems, which will be based in the Middle East.

Smurfit-Stone files for bankruptcy

Smurfit-Stone Container, formerly the US associate of Jefferson Smurfit and one of the largest US corrugated packaging makers, said its US and Canadian operations had filed for Chapter 11 bankruptcy protection, hurt by declining packaging demand.

“The recent downturn in the global economy has resulted in an unprecedented decline in demand for the company’s products, leading to increased inventory levels and downward pressure on the company’s operating income,” chief financial officer Charles Hinrichs said in documents filed with the US Bankruptcy Court in Delaware. – (Reuters)

Ryanair withdraws move for review

Ryanair has withdrawn its request for a European anti-trust review of its bid for Aer Lingus following the Government’s rejection of the offer. Ryanair told the European Commission on January 23rd that it no longer wanted the commission to review the bid. – (Bloomberg)