Round Up
Apple's new project
Apple is working with EMI, Sony Music, Warner Music and Universal Music Group on a project codenamed "Cocktail" to try and change the way that people buy digital music.
Bonus Controversy
A top trader at banking giant Citigroup has re-sparked the controversy over the culture of big bonuses in the financial sector. Andrew Hall is head of Citi's energy-trading unit Phibro LLC, a secretive operation run from the site of a former Connecticut dairy farm.
Elan AGM in Dublin announces no redundancies planned
At its AGM in Dublin pharma giant Elan announced that it had no further plans for redundancies following its deal with US multinational Johnson & Johnson.
EMPG close to securing deal
Barry O'Callaghan's Education Media and Publishing Group (EMPG) is close to securing a deal that will see nearly half of the company released to unsecured debt holders, such as Merrill Lynch and Apollo Partners.
FT Publishing profit drops 40%
Profits at FT Publishing, the newspaper and magazine division of Pearson which owns the Financial Times and has a 50% stake in the Economist, dropped 40% in the first six months of the year.
German consumer sentiment increases
German consumer sentiment increased to its highest level in over a year as easing inflation left consumers more willing to spend, according to Nuremberg-based GfK market research group. The company has forecast that Germany's consumer climate index will rise from 3.0 points in July to 3.5 points in August, which is the highest figure recorded since June last year.
Interest Rates on the Rise
Over 50,000 mortgage-holders will face a hike in their monthly repayments if the retail division of Irish Life & Permanent, Permanent TSB, goes ahead with plans to increase the interest rate it charges for home loans.
Jury's room to improve
Jury's Inn Group has announced a €70m expansion plan for the UK and mainland Europe. €17m of the investment was sourced from existing backers Quinlan Private, as well as Oman Investments Ltd. £30m was sourced from the Group's existing syndicate of banks, which includes Anglo Irish Bank, AIB and Ulster Bank.
Liam Carroll rejects investment offers
Liam Carroll has rejected several offers for his 29% stake in Greencore. A consortium of leading stockbrokers have made several bids, believed to be in the region of €60m, but all were turned down by the troubled property developer.
Microsoft Revenue down
Software giant Microsoft has reported a 29% drop in profits, which has seen its share price fall by 7.1%. Sales of Microsoft's Windows have also dropped 29% on the back of a falling PC market.
Ryanair report first quarter profit
Ryanair has reported a first quarter profit of €136.5m, citing falling fuel costs as the main contributor to its success so far in 2009. This profit compares to a loss of €90.5m for the same period in 2008.
The secret millionaires club
Billionaire Warren Buffett takes on a new role as an online tutor to children in an animated series that will be aired later this year.
