A round-up of today's other stories in brief...
First-time buyers getting older and borrowing less
First-time buyers are getting older and borrowing less, according to figures from mortgage broker, the Irish Mortgage Corporation.
The average has increased to 30.9 years between July and October from 29.9 years in the second half of 2007.
The average loan size borrowed has reduced by 6 per cent to an average of €281,000 from €300,000 in the second half of 2007, while the average income of a first-time buyer has fallen to €52,100 from €62,200.
Babcock Brown Air sells two A320-200s
Dublin-based aircraft leasing firm Babcock Brown Air said it has sold two A320-200 aircraft from its portfolio that were manufactured in 1995.
New York-listed BB Air now has a total fleet of 62 aircraft. "The sales of these two aircraft were completed at prices above BB Air's book value . . . " said Colm Barrington, chief executive of BB Air, who was recently appointed chairman of Aer Lingus.
PwC posts Irish fee income of €355m
Professional services firm PricewaterhouseCoopers said it had fee income of €355 million on the island of Ireland for the year ended June 30th 2008.
The firm said its nearest rival had fee income of €307.7 million during the same period.
Globally, PwC had fee income of $28.2 billion (€22.2 billion) for the same period, an annual increase of 8 per cent at constant exchange rates.
Moy Park acquisition gets EC green light
The Marfrig Group's acquisition of Moy Park, the biggest chicken processor in Ireland, has been finalised, following the European Commission's approval of the deal.
Announced last June, the OSI Group sold the Irish chicken processor, as well as its own Brazilian poultry interests, to the € 1.5 billion Brazilian food group, as part of a $680 million (€ 534.6 million) deal. OSI is now a significant shareholder in Marfrig.
Headquartered in Northern Ireland, Moy Park employs some 7,000 people across its operations there and in England, France and the Netherlands.
Builders unable to tie up €1.7m deal
Two builders have told the Commercial Court they cannot complete a contract for the €1.7 million sale of lands in Co Meath which they had entered into in late 2006.
Builders Gerard Briody, Ballinacree, Oldcastle, Co Meath, and James Sheridan, Dungimmon, Mountnugent, Co Cavan, appeared before Mr Justice Peter Kelly at the Commercial Court yesterday in relation to proceedings brought against them over the contract.
The men told the judge they were representing themselves in the case and were not defending the claim in which John Reilly, Stoney Road, Oldcastle, sought an order requiring them to complete a contract to buy for € 1.7 million a site at Cavan Street, Oldcastle.
Having heard from both men, the judge asked Andrew Walker, representing Mr Reilly, what order he was seeking given that no defence was being advanced. Mr Walker asked for an adjournment of two weeks to allow consideration of the matter and the judge granted that adjournment.
Action brought against Air Italy SPA
An Irish aircraft leasing company has brought a legal action against Air Italy SPA over its alleged failure to honour an agreement to buy a Boeing 737-300 aircraft for $9 million.
The proceedings by Aergo Leasing 110 Ltd, with registered offices at Clanwilliam Terrace, Grand Canal Quay, Dublin, against Aer Italy SPA were admitted to the Commercial Court list yesterday by Mr Justice Peter Kelly.
