Morning business news - February 13

Wednesday 13 February 2013 08.44
Morning business news - February 13
Morning business news - February 13

Tullow Oil, in its results for the full year 2012, has reported profit before tax up 4% at $1.1 billion, operating profit up 5% - also at $1.1 billion dollars and sales revenue of $2.3 billion, up 2% per cent.

The oil and gas exploration and production group said it made major progress last year.

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Overnight in the United States, President Obama gave his State of the Union address.

And in it some good news for Irish companies, like the international building materials group CRH which thrives on big US infrastructure projects.

Mr Obama suggested a "fix it first" programme, fixing 70,000 bridges that he says are structurally deficient across the country.

He also announced a new trans-Atlantic trade initiative.

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Dublin's small Weston Airport, near Lucan, has been sold to a Galway builder for €3.5 million.

The new owner, Brian Conneely, plans to upgrade the radar system and buildings and to focus on aviation education courses and innovative projects which could attract enterprise funding.

The airport had been under the control of NAMA and receivers who were appointed to handle the sale of a number of distressed assets of the Citywest developer Jim Mansfield.

Weston was very busy during the boom when lots of property developers used jets and helicopters.

Most of the aircraft used by property executives have now been sold, many on NAMA's instructions.

Jim Mansfield bought the airfield in the early 2000s for about €4.5 million.

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One in five people now read newspapers online, according to the latest Readership Survey by MillwardBrown Lansdowne, which was the first in 40 years to include questions about online reading habits.

It shows that four in five adults have read an Irish print newspaper in the past day, while for online the figure is 1 in 10 in the past day.

The figure rises to almost one in five reading online over six months.

In Dublin 20% of the market reads online once a week, against 10% for the rest of the country.

Almost a third of daily online readers use mobile phone apps to read the sites.

5% read the news on e-papers, the rest go directly to the site or read via Facebook and Twitter links.