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

Mobile data services company agrees amended loan facility

Mobile data services company Zamano has agreed an amended loan facility with Bank of Scotland (Ireland). The amended facility “contains a waiver of the covenant test as at December 31st, 2010” as well as a “revised capital repayment schedule which reflects the current trading of the company”, the Dublin-listed company said in a statement yesterday.

The repayment arrangement will see €1.2 million paid by 2011, €1.2 million by the end of 2012 and €3.462 million by the end of 2013. The capital repayment scheduled for the financial year ending December 31st, 2013, includes an amount of €250,000 in relation to an exit fee for the bank, which has been agreed in consideration for the bank entering into the amended facility letter.

BP shares advance 7% in London

Shares in BP jumped as much as 7 per cent to a seven-month high in London on the first day of trading in the new year as investors bought back into the stock. This was on the back of news that its compensation payouts for the Gulf of Mexico oil spill might be much lower than anticipated.

Fresh reports that rival Royal Dutch Shell considered a takeover bid for the UK oil group also helped drive up the shares.

According to the reports, Shell’s board decided against launching a bid as it was unwilling to risk taking on the potentially unlimited liabilities from the spill.

BP’s shares rose 7 per cent, the most since July 12th, to an intra-day high of 498.05p in late afternoon in London yesterday and closed up 5.9 per cent at 493p.

The shares were buoyed by positive comments from Kenneth Feinberg, the lawyer in charge of the $20 billion compensation fund set up by BP in the summer to help pay for claims from the spill.

“I would hope that half that money would be more than enough to pay all the claims,” Mr Feinberg told Bloomberg Television, adding that many claims lacked sufficient documentation to warrant payment. – (Copyright The Financial Times Limited 2011)

Mella Frewen on Aer Lingus board

Mella Frewen has been appointed to the board of Aer Lingus, following the retirement of solicitor Ivor Fitzpatrick.

Ms Frewen is director general of the Brussels- based Confederation of the Food and Drink Industries of the EU and has worked in the agri-food sector in Europe for more than 20 years. Mr Fitzpatrick had been on the board of Aer Lingus since 2002 and has served as chair of the group’s audit committee. Ms Frewen’s appointment was effective from January 1st.

In a statement to the stock exchange, the airline said the changes were part of its “ongoing commitment to best corporate practice and to board refreshment”.

Increase in new orders for US firms

New orders received by US factories unexpectedly rose in November, and orders excluding transportation recorded their largest gain in eight months, providing more signs that the economic recovery was on sustainable path. The commerce department said yesterday that orders for manufactured goods increased 0.7 per cent after dropping a revised 0.7 per cent in October.

Manufacturing has been the star performer during the recovery from the worst recession since the 1930s and continues to expand.

Analysts have forecast economic growth at an annual pace of between 3 per cent and 3.5 per cent in the fourth quarter. – (Reuters)