A round-up of today's other stories in brief
Siteserv names new chief financial officer
The chief financial officer of Independent News and Media's (IN&M) Irish business is set to join quoted building services group Siteserv.
Siteserv announced yesterday that it had appointed Colm Nolan as its new chief financial officer.
It is understood that Mr Nolan (42) will join Siteserv from IN&M in December.
Mr Nolan is a member of the Institute of Chartered Accountants in Ireland.
He will replace Kevin Gallen, who left Siteserv a number of weeks ago.
Merrill Lynch's profits may be hit
Merrill Lynch warned yesterday that shaky credit markets forced it to reduce the value of securities linked to risky subprime mortgages and other products, a move that could hurt third-quarter profit.
Shares in the world's largest brokerage initially fell 3.5 per cent on the news, before settling at $74.70 in afternoon trade on the New York Stock Exchange, off 44 cents.
The announcement will be closely watched as a potential danger signal for other large US brokerages and investment banks that report earnings next week.
Wall Street heavyweights Goldman Sachs, Morgan Stanley, Bear Stearns and Lehman Brothers are also exposed to subprime loans and products being roiled in the credit markets. - (Reuters)
FF press director joins PR firm
Outgoing Fianna Fáil press director Olivia Buckley has joined public relations firm Murray Consultants as an account director. A former Kerry Group executive, she has also worked for the Irish Farmers' Association.
US retail sales slowed last month
US retail sales slowed last month as concerns mounted about the economic impact of the downturn in the housing sector and turbulence in financial markets.
Purchases were weaker than expected as sales growth slowed to 0.3 per cent from 0.5 per cent, the US commerce department said.
The surprise slowdown in sales added to fears that US households will curtail spending as house prices weaken and borrowing conditions tighten. - (Financial Times service)
Carroll adds to ICG stake
Property developer Liam Carroll has spent a further €2 million adding to his stake in Irish Continental Group. In a statement to the stock exchange, Mr Carroll said he bought 80,872 shares at €25 each - €1 above the price being offered by management buyout group Aella. Mr Carroll's stake now totals 20.79 per cent.
Elan announces new appointments
Pharmaceutical group Elan yesterday announced two new appointments to its board, naming Jonas Frick and Giles Kerr as non-executive directors.
Mr Frick is the former chief executive of Scandinavian Life Science Ventures and Mr Kerr is director of finance at the University of Oxford. He was previously chief financial officer of medical diagnostics group Amersham.
A&L Goodbody expands in NI
A&L Goodbody is expanding its Northern Ireland operations, four months after establishing a Belfast office.
The business law firm confirmed yesterday that it was moving to larger premises at Fountain Street in the city centre.
IN&M continues share buy back
Independent News & Media has continued its share buy back, purchasing a further 1.25 million units at a cost of more than €4 million.
The stock will be held on treasury.
