BENCHMARKING 'SHOULD REFLECT PENSIONS' - The gap between the public sector and the private sector in terms of pensions was a subject dealt with at the Dublin Economic Workshop in Kenmare at the weekend.
IBEC's senior economist Fergal O'Brien wants public sector pension reform put firmly centre stage and to guide the next round of benchmarking.
Mr O'Brien said the value of the average public sector pension was around 25% of pay, compared with 12% in the private sector.
He said it was a good thing that there were good public sector pensions, but that must be reflected in the upcoming benchmarking process on public sector pay.
Mr O'Brien also said IBEC took comfort from comments from Finance Minister Brian Cowen at the weekend. The Minister said he believed full account of pensions was not taken in the last benchmarking process.
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NEWS IN BRIEF AND CURRENCIES - Pharmaceutical company Elan has appointed US corporate finance advisers Lehman Brothers to look at its options in relation to its multiple sclerosis treatment Tysabri.
This follows Friday's announcement from Biogen that it had received expressions of interest in buying the company. Biogen has a 50% share of Tysabri.
Elan said that under an agreement with Biogen, it had a number of options in the event of a takeover.
It could acquire the remaining 50% stake in Tysabri, sell it, or continue with the existing deal. Elan said it may also look at restructuring the agreement if another company acquired Biogen.
Troubled British bank Northern Rock has confirmed that it is in talks with a number of parties on proposals for what it calls a 'variety of potential transactions'. In a statement to the London stock exchange, the lender said the discussions were at a very early stage.
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