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

Oil prices rise by $1 due to storm threat

Oil jumped more than $1 (€0.83) yesterday as another tropical storm gathered strength in the Caribbean.US crude was up $1.52 ( at $64.15 a barrel. London Brent crude was up $1.00 at $60.48 a barrel. Prices had fallen from an August high above $70, but remain close to levels not seen in a quarter of a century. - (Reuters)

Permission sought for UK wind park

Greater Gabbard Offshore Winds, a joint venture between Airtricity and Fluor, yesterday submitted an application to build a 500-megawatt offshore wind park in Britain.

The British government has committed to derive 10 per cent of electricity from renewable sources by 2010.

Banking sector earnings up 5.5%

The average weekly earnings in the banking, insurance and building societies sector increased by 5.5 per cent in the year to the end of June, according to the Central Statistics Office (CSO). The average weekly salary rose to €776.42 at the end of June, from €736.26 a year earlier. The average earnings index increased by 5.3 per cent. On a quarterly basis, the average weekly earnings increased by 1.6 per cent, the seventh consecutive quarterly gain.

Employment in the sector increased by 2,200 in the 12-month period, to 55,100.

Bandwidth bids recommended

The government should alter the way bandwidth on the radio spectrum is allocated, according to ComReg economist Dermot Nolan. Dr Nolan said frequencies on the spectrum should be subject to competitive bidding.

The spectrum is a range of frequencies used by radio stations, mobile phone operators and other telecommunications operators. Frequencies are presently allocated by government. Dr Nolan said that a bidding system would allocate the spectrum to its most efficient users and raise government revenue.

Scholarship fund gives almost €1m

As many as 57 students have been awarded €968,000 worth of scholarships from Bank of Ireland's Millennium Scholarship Fund. The scholarships range from €3,200 a year to a maximum of €38,000 for the duration of their studies.

Open skies deal 'positive' for State

An open skies agreement between the EU and the US would be "overwhelmingly positive" for Ireland, the Chambers of Commerce of Ireland (CCI) said yesterday.

The comments coincided with the resumption of negotiations on opening up the aviation industry to more competition. While beneficiaries were likely to be Aer Lingus and Dublin airport, the CCI said problems could arise for Shannon airport.

Refco to sell futures arm

Refco yesterday confirmed it was in advanced negotiations to sell its futures arm to a group of investors led by Chris Flowers. The price of Refco's bonds rose as the company said it expected to reach an outline agreement shortly with the group. - (FT service)

Rise in sales for Sony Ericsson

Sony Ericsson, the mobile phone maker, delivered a strong third-quarter performance. Handset sales rose 29 per cent to 13.8 million units over the same quarter last year. Pre-tax profits were 11 per cent higher at €151 million.- (FT service)