The Federal Reserve has cut its key benchmark interest rate from 2.25% to 2.0% - a reduction of 3.25% since September 2007.
Irish New Cars: The CSO reported today that there were 20,190 new private cars licensed in March 2008, compared with 25,974 in March 2007, a decrease of 22.3%.
Heading into an economic downturn, hotels are often among the first industries to suffer. Now, vacancies are on the rise amid a construction boom. Investors, meanwhile, are trying to determine which hotel companies are best positioned to ride out a downturn.
IONA Technologies today announced first quarter 2008 revenue growth of 6 percent to $16.4 million, compared to the same period last year and a loss of $5.1 million.
Markets news on stocks, currencies and oil.
Sterling has experienced six difficult months, falling substantially against most of the other major currencies, including the euro. The latter broke above 71 pence in November, and hence out of the long established trading range. It has powered ahead since then, briefly pausing around 74 pence before establishing a new high of just under 81 pence a week ago according to Bank of Ireland’s April Bulletin which was published today.
The Irish National Pensions Reserve Fund today reported negative return of 10.5% in first quarter of 2008 and a positive return of 3.3% in 2007. The fund value at March 31, 2008 was €19.4 billion.
The European Commission says the Business Climate Indicator declined in the Eurozone in April and the Economic Sentiment Indicator fell in both the Eurozone and EU.
Coillte, the Irish state owned forestry company today announced 2007 profits were up 79% to €40.1 million, from €22.46 million in 2006. The company plans to expand into wind farms; Sold 600 hectares of land during year.
US Gross Domestic Product (GDP) in real/constant dollar terms, increased at annual rate of 0.6 percent in the first quarter of 2008, the same rate of growth as in the fourth quarter of 2007, according to estimates released today by the Bureau of Economic Analysis. The growth reflected an increase in inventories as consumer spending slowed.