A round-up of today's other stories in brief.
Appleby gets conviction on false papers
The Director of Corporate Enforcement has secured a first conviction on the falsifying of documents related to property and a company.
Gary Anderson, of Ashford, Co Wicklow, yesterday pleaded guilty to falsifying financial statements of Crest Interiors, a company in which he was a director and secretary in 2003.
The court heard Mr Anderson presented the financial statements and another document to the company's bank to renew an overdraft facility. The documents incorrectly represented the company's financial position to the bank and stated that the accounts had been audited by Ardagh Horan Chartered Accountants, based in Dublin. The company was not a client of that firm. Mr Anderson was fined €500 and was ordered to pay costs of €300.
Director of Corporate Enforcement Paul Appleby, said: "We remain anxious to widen the type of company law offences which we prosecute and subject to existing resource constraints, we will continue to advance our enforcement efforts in 2006."
Konica exits film, camera business
Japan's Konica Minolta Holdings said it would withdraw from the camera and colour film businesses, marking the end of one of the best known brands in the photography world.
As part of the surprise move, Konica Minolta said it would sell a portion of its digital single lens reflex (SLR) camera assets to Sony for an undisclosed sum and cease production of compact cameras by March.
The company said it would stop making photographic film and colour paper by March 2007, pulling out of a market shrinking more than 20 per cent a year due to the spread of digital cameras. - (Reuters)
Matalan chief to leave at year-end
British budget clothing retailer Matalan surprised the market with news that its chief executive John King planned to leave at the end of this year.
King, who joined in March 2003 from US lingerie manufacturer Delta Galil, wants to return to the United States.
He has led the 190-strong store chain through a tumultuous period, riding out several profit warnings, most recently in May 2005.
Analysts said it looked like Mr King was deserting a sinking ship and raised the possibility the departure could prompt owner and founder John Hargreaves to sell his family's controlling 52 per cent stake, which would be worth about €512 million. - (Reuters)
New VoIP phone service from Tesco
Tesco is to launch a cut-price, Internet-based phone service in the UK, turning up the pressure on BT as it expands its telecoms presence.
The UK's biggest supermarket chain, which already operates fixed-line, internet and mobile phone services, said yesterday it would target the new pay-as-you-go service at broadband internet users.
Customers will be able pick up a handset from about 350 Tesco stores or online for £19.97 (€29.05), plug it to their computers, register online and get started. Unlike some rival Internet phone service providers, Tesco does not plan to charge a monthly fee for the service, which uses voice over internet protocol (VoIP) technology. - (Reuters)
Merrill Lynch Q4 profits up 25%
Merrill Lynch said fourth-quarter profit rose 25 percent as surging trading revenue from retail customers helped the biggest U.S. brokerage beat analysts' expectations.
Merrill, whose shares were up 1.4 per cent, said it posted double-digit revenue growth in its retail brokerage and asset-management businesses. - (Reuters)
