A round-up of today's other stories in brief
Minister picks new board for Fás
Minister for Enterprise, Trade and Employment Micheál Martin has selected a new board to Fás after his selection of trade unionist Peter McLoone as chairman of the State training agency. The board sits until the end of 2010.
Members from the business world include Brian Keogh, health and safety director at John Sisk & Son, and Niall Saul, head of human resources at Irish Life. Ibec officials Danny McCoy and Jenny Hayes were also appointed.
IWP appoints adviser as chief
Alex Sorokin has been appointed as interim chief executive of IWP, with effect from last Friday. John Talbot has been named as a non-executive director of the company.
Mr Sorokin and Mr Talbot are partners of Kroll Talbot Hughes, an international restructuring practice which been advising the board of IWP through its restructuring negotiations with its creditors.
Pan African to buy Manica project
Pan African Resources said it had elected to exercise its right to acquire a 100 per cent stake in the Manica project, a gold project in Mozambique. Pan African is buying the titleholder of the project, Explorator Limitada, for £150,000 (€219,000).
B of I opens 2006 scholarship fund
Bank of Ireland opened its 2006 Millennium Scholarship programme yesterday, which will provide funding for as many as 60 students for the coming academic years.
The Bank of Ireland Millennium Scholars Trust is designed to provide substantial financial assistance to talented students who wish to pursue further education but are impeded by economic, social or physical barriers.
The €12.5 million programme was established in 1999 and has since seen 358 students receive €5.5 million in assistance.
Mild US weather keeps oil down
Oil prices fell from three-month highs , dragged lower by mild US weather that has cut deeply into demand for heating fuels.
US light sweet crude settled down 71 cents to $63.50 a barrel, dropping from a high of $64.61 earlier in the session on the back of simmering tensions in the Middle East. London Brent crude fell 71 cents to $62.01.
US demand for heating fuels was expected to be about a third below normal this week as mild weather kept a grip on the mid-west and the north-east, the biggest US heating markets. - (Reuters)
Saks puts Paris stores up for sale
US retailer Saks put its Parisian chain of 40 department stores up for sale, which would leave the retailer with just its namesake Saks Fifth Avenue business and Club Libby Lu stores.
Saks, which sold its Proffitt's/McRae's chain for $623 million (€516 million) last year and has agreed to sell 142 other stores for about $1.2 billion, also named chief operating officer Stephen Sadove as chief executive officer, replacing Brad Martin, who will stay on as chairman.- (Reuters)
New EU proposals on investor voting
The European Commission will publish proposals today making it easier for investors to vote at company meetings outside their home state.
Member states and the European Parliament must give the green light for the new rules to become law. - (Reuters)
