Today's other stories in brief
Newsweaver plans 33 jobs for Bandon
Internet services company Newsweaver has announced plans to create 33 high-value jobs in Bandon, Co Cork. The company will also make a €700,000 investment in research and development.
Newsweaver, which counts the UN, Shell, AIB, Bupa and Phillips among its client base, provides software as a service to enable companies publish and send electronic newsletters to their customers.
Founded in 1996, Newsweaver is Europe's leading email newsletter specialist, providing software and expertise that helps companies understand and deepen the relationship that they have with their customers.
Visit by Haitian business leaders
A delegation of Haitian business leaders and policy advisers is due in Dublin today to establish links they hope can boost the economy of the Caribbean country.
The visit, hosted by the Soul of Haiti Foundation, an Irish non-profit organisation, aims to identify investors and to identify lessons in economic development which can transfer from Ireland to Haiti.
The Haitian delegation will meet Irish business leaders today.
Tomorrow they will meet present potential business opportunities to Irish investors and then meet Minister for Foreign Affairs Micheál Martin, as well as a number of representatives of State agencies such as Concern, Fás and the IDA.
RiskMetrics advises on IN&M
One of the world's largest independent proxy advisory firms, RiskMetrics Group, has recommendedIndependent News & Media shareholders vote against resolutions from dissident shareholder Denis O'Brien at an egm. The resolutions are to be put to a meeting on November 3rd, and are: That Dr Brian J Hillery is removed from his office as the chairman of the company in accordance with Section 182 of the Companies Act 1963 with immediate effect; and that a new senior independent director be appointed with immediate effect.
The company has also announced that a bondholders' meeting to put a resolution allowing for bonds valued at €200 million to be changed for equity is to be held on November 10th.
Bank to cut pay by 10%, claims union
Up to 6,000 Ulster Bank staff across Ireland face a 10 per cent pay cut unless they sign an inferior new contract, a union claimed last night. The deal would reduce the value of their pensions and worsen conditions, the Irish Bank Officials Association (IBOA) added.
It has voted to resume talks on pay and pensions.
Ulster Bank said it would not be re-entering the mediation process but would talk to employees directly.
BOA general secretary Larry Broderick said staff have been warned that a significant element of their pay - 10 per cent of their annual salary - was to be withheld unless they agree to sign an inferior contract.
Nomura joins stock exchange
Nomura International has been admitted as a member firm of the Irish Stock Exchange.
The company will operate as a primary dealer in government bonds.
This brings to 12 the number of primary dealers on the exchange.
Primary dealer are responsible for creating two-way markets in government bonds, and to participate in competitive auctions organised by the National Treasury Management Agency.
Brian Healy, who is director of traded markets, development and operations at the Irish Stock Exchange, said: "The addition of Nomura as a primary dealer in government bonds is a significant and welcome development."
