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  • strict warning: Non-static method view::load() should not be called statically in /home1/finfacts/public_html/sites/all/modules/views/views.module on line 879.
  • strict warning: Declaration of views_handler_argument::init() should be compatible with views_handler::init(&$view, $options) in /home1/finfacts/public_html/sites/all/modules/views/handlers/ on line 745.
  • strict warning: Declaration of views_handler_filter::options_validate() should be compatible with views_handler::options_validate($form, &$form_state) in /home1/finfacts/public_html/sites/all/modules/views/handlers/ on line 589.
  • strict warning: Declaration of views_handler_filter::options_submit() should be compatible with views_handler::options_submit($form, &$form_state) in /home1/finfacts/public_html/sites/all/modules/views/handlers/ on line 589.
  • strict warning: Declaration of views_handler_filter_node_status::operator_form() should be compatible with views_handler_filter::operator_form(&$form, &$form_state) in /home1/finfacts/public_html/sites/all/modules/views/modules/node/ on line 14.
  • strict warning: Declaration of date_api_filter_handler::value_validate() should be compatible with views_handler_filter::value_validate($form, &$form_state) in /home1/finfacts/public_html/sites/all/modules/date/includes/ on line 578.
  • strict warning: Non-static method view::load() should not be called statically in /home1/finfacts/public_html/sites/all/modules/views/views.module on line 879.
  • strict warning: Declaration of uc_product_handler_field_price::options() should be compatible with views_object::options() in /home1/finfacts/public_html/sites/all/modules/ubercart/uc_product/views/ on line 94.
  • strict warning: Declaration of uc_product_handler_field_weight::options() should be compatible with views_object::options() in /home1/finfacts/public_html/sites/all/modules/ubercart/uc_product/views/ on line 61.
  • strict warning: Declaration of views_handler_field_user::init() should be compatible with views_handler_field::init(&$view, $options) in /home1/finfacts/public_html/sites/all/modules/views/modules/user/ on line 48.
  • strict warning: Declaration of semanticviews_plugin_style_default::options() should be compatible with views_object::options() in /home1/finfacts/public_html/sites/all/modules/semanticviews/ on line 232.
  • strict warning: Declaration of views_plugin_row::options_validate() should be compatible with views_plugin::options_validate(&$form, &$form_state) in /home1/finfacts/public_html/sites/all/modules/views/plugins/ on line 135.
  • strict warning: Declaration of views_plugin_row::options_submit() should be compatible with views_plugin::options_submit(&$form, &$form_state) in /home1/finfacts/public_html/sites/all/modules/views/plugins/ on line 135.
  • strict warning: Non-static method view::load() should not be called statically in /home1/finfacts/public_html/sites/all/modules/views/views.module on line 879.
  • warning: Creating default object from empty value in /home1/finfacts/public_html/sites/all/modules/views/includes/ on line 653.
  • strict warning: Declaration of views_plugin_style_default::options() should be compatible with views_object::options() in /home1/finfacts/public_html/sites/all/modules/views/plugins/ on line 25.
  • strict warning: Non-static method view::load() should not be called statically in /home1/finfacts/public_html/sites/all/modules/views/views.module on line 879.
  • strict warning: Non-static method view::load() should not be called statically in /home1/finfacts/public_html/sites/all/modules/views/views.module on line 879.
Weekly Summary

Weekly Summary

(October 2012) Weekly Business News Summary -- week ending Oct 13, 2012: The big news in Ireland this past week was on jobs when two choreographed official jobs announcements were made in respect of the biggest planned creation numbers since the commencement of the recession in 2008. Kerry Group announced that it would build a new global research facility at Naas, Co Kildare that will employ up to 900 people by 2016 while 400 jobs will be created during the construction phase. Bookmaker Paddy Power Plc is to create 610 jobs at its new headquarters in the south Dublin suburb of Clonskeagh to boost its surging online business. On Friday it was reported that Irish goods exports have hit an all-time monthly record of €9bn. The seasonally adjusted Central Statistics Office figure for August shows goods exports rose 18% on the same period last year. Most of these exports came from US-owned drugs firms, while the sector's total payroll has remained static since 2004.
(October 2012) The US unemployment rate fell to 7.8% in September -- the lowest since January 2009 -- but a broader measure, including discouraged workers and part-timers seeking full-time work was flat at 14.7%. The fall in the main unemployment rate was driven by positive factors. In recent months the rate has fallen because more Americans were no longer looking for work. But in September the labour force increased, as more people were seeking jobs. Meanwhile, the number of unemployed fell by 456,000, while those with jobs surged 873,000. Meanwhile, the Irish Central Bank said that pay is still high in both the public and private sectors in Ireland and should fall further.
(October 2012) Weekly Business News Summary -- week ending Sept 29, 2012: Spaniards protested against the government's large budget cuts and investors worried Moody's would downgrade Spain's debt to "junk." Spain on Thursday set out its austerity budget for 2013, with new spending cuts but protection for pensions, amid a shrinking economy and 25% unemployment. Soraya Saenz de Santamaría, deputy prime minister, called it "a crisis budget designed to exit the crisis." The new programme of savings, tax rises and structural reforms will be overseen by an new budget authority. Late Friday, stress tests for Spanish banks were announced. Meanwhile, François Hollande, French president, says he is pushing ahead with a campaign promise to add 60,000 state education jobs in five years. But France’s new belt-tightening budget forecasts a slight overall decrease in public sector jobs for 2013. Ireland's campaign for debt relief hit a wall this week when Germany, Finland and the Netherlands said in Helsinki that "legacy assets" should not be transferred to the new European Stability Mechanism (ESM) rescue fund.
(September 2012) The Quarterly National Household Survey (QNHS) published Wednesday showed that Irish employment fell 1.8% or 33,400 in the year to the second quarter of 2012, bringing total employment to 1,787,900. This compares with an annual decrease in employment of 1.0% in the previous quarter and a drop of 2.0% in the year to Q2 2011. On Thursday, it was reported that Irish GDP (gross domestic product) was stagnant in the second quarter of 2012 while GNP (gross national product) jumped because foreign multinationals in Ireland transferred less money abroad than they previously did.
(September 2012) Weekly Business News Summary -- week ending Sept 15, 2012: Following the September 6th announcement by the European Central Bank (ECB) of a new bond-buying program, the week was a rare good one for the embattled Eurozone. The German constitutional court gave the go-ahead for the European Stability Mechanism (ESM) bailout fund; the right of centre main party in the Dutch government won reelection while the anti-immigrant PVV party lost half its parliamentary representation despite funding from US anti-Islam groups. Angela Merkel, German chancellor and Mario Monti, Italian premier, hailed what they termed "a good week for Europe and the euro," Merkel's spokesman Steffen Seibert said after they spoke by telephone on Friday. Antonis Samaras, Greek prime minister, signalled that he is close to winning a two-year extension to meet fiscal commitments, and a liquidity boost from the ECB, in exchange for a new austerity package worth €11.7bn to avoid leaving the Eurozone. "We are talking about an extension to 2016," he told the Wall Street Journal. Meanwhile, the European Commission announced formal proposals for a banking union for the Eurozone, which would hand new supervisory powers, such as the ability to close poorly performing banks, to the ECB. If agreed the plan would be a precursor to allowing struggling lenders to tap the ESM fund directly, rather than through sovereign funds, thus relieving pressure on government debt.
(September 2012) Weekly Business News Summary -- week ending Sept 08, 2012: The big news of the week was the announcement on Thursday by Mario Draghi, European Central Bank (ECB) president, of new bond-buying program to keep a lid on Eurozone sovereign bond interest rates. The program, called Outright Monetary Transactions (OMTs), allows for unlimited ECB purchases of sovereign bonds on the secondary market. The program is to focus on bonds with a period of three years and less. On Friday, the US Department of Labor said that the US economy added 96,000 jobs in August, well below expectations for 125,000, following a downwardly revised 141,000 in July...The Financial Times reports that Apple at a valuation of $624bn, is worth more than all the listed companies in Portugal, Ireland, Greece and Spain together.
(September 2012) On a visit to China with a large part of her government, Angela Merkel, German chancellor, said she opposed EU demands that anti-dumping duties be levied on China’s solar panel manufacturers after a German company filed a complaint in July. On Friday, in a highly anticipated speech on monetary policy, Ben Bernanke, the Federal Reserve chairman, said that the Fed's policies were helping the weak economy, as he laid the groundwork for more action. The US housing market is finally bouncing back...
(August 2012) Weekly Business News Summary -- week ending Aug 25, 2012: On Monday, Apple’s share price hit $665, giving it a market capitalisation of $623bn and making it (in nominal terms) the most valuable company in history. The record had been held by Microsoft since December 1999, when its market value hit $615bn (in real terms Microsoft would be worth $850bn today). On Friday, a federal court in San José, the biggest city in the area known as Silicon Valley in Northern California, delivered a huge victory to local firm Apple, when nine jurors in the biggest case of the patent wars, delivered a verdict against Samsung Electronics Co. of South Korea, awarding its smartphone rival $1.05bn in damages. Also on Friday, Angela Merkel, German chancellor, said Germans were ready to help Greece “as much as we can,” but refused to support a Greek plea for more time to implement austerity measures and pay back Eurozone loans. The Markit Flash Eurozone PMI Composite Output Index, which tracks the performance of measures new orders in manufacturing and services, was 46.6 in August, compared with 46.5 in July - - below 50 indicates contraction. Weak Chinese manufacturing data issued Thursday raised pressure on Beijing to add to stimulus efforts, with a poor reading on shipments suggesting little improvement in global demand.
(August 2012) Weekly Business News Summary -- week ending Aug 18, 2012: On Tuesday, it was reported that the Eurozone economy contracted by 0.2% in the second quarter with the big 2, Germany, growing by 0.3% in the three-month period and France's economy stagnant for the third straight quarter. Output contracted in Italy, Spain and Finland. In Greece, where GDP (gross domestic product) fell by 6.2% year on year, the economy shrunk all but one of the past 15 quarters. In Japan, GDP growth slid sharply to 0.3% in the three months to June, down from 1.3% in the first quarter, when it was boosted by government spending on reconstruction in regions hit by the earthquake and tsunami of March 2011. Angela Merkel, German chancellor , speaking in Canada Thursday, supported the ECB’s demand for conditionality in return for measures to cut borrowing costs in indebted countries, saying Germany is “in line” with the central bank’s approach to defend the euro.
(August 2012) Weekly Business News Summary -- week ending Aug 11, 2012: The week's biggest news was the action on Monday by the New York state financial services regulator to throw a thunderbolt at Standard Chartered, a big British bank, accusing the bank which had its origins in the British Empire colonies of Asia and Africa, of being a 'rogue institution' that hid $250bn in transactions made by the Iranian government in breach of US of sanctions...The US Department of Agriculture on Friday issued an assessment of the severe drought, forecasting national corn production at 10.8bn bushels, off 13% from 2011 and the lowest production since 2006. Yields are expected to average 123.4 bushels per acre, down 23.8 bushels from 2011.