Morning business news - September 10

Tuesday 10 September 2013 09.12
Morning business news - September 10
Morning business news - September 10

The number of professional job opportunities in the Irish market was up by 11% in August, according to the latest employment monitor from Morgan McKinley.

Its chief operations officer, Karen O'Flaherty, said it was reflecting an improved jobs market, specifically in niche areas and skill sets in the financial services and IT sectors.

"In financial services, we're seeing adjustments and it's creating niche jobs opportunities like insolvency and restructuring. These are new jobs that we wouldn't have seen before," she explains.

The pharmaceutical sector also saw new employment opportunities with multinationals looking for people with experience in areas like supply chains with warehouse and procurement roles being created.

August's study also highlighted an 11% decrease in the number of professionals entering the market place and a 26% decrease in the year.

Karen O'Flaherty explains that people are not returning to the country at the same level at which they are leaving. As well as that, professionals who are already in work here are less likely to be seeking work.

"The talent is here but they are not active. They are not seeking out new opportunities for a variety of reasons - financial, family reasons. Their desire to move jobs is very considered."

Karen O'Flaherty also points out that the perception of Ireland abroad has to improve if we're to attract professionals here as we're still seen as a country in recession.

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South Africa is the latest BRIICS emerging market to come under pressure as a result of the market turmoil arising from the threatened withdrawal of stimulus in the US.

The current-account gap for the second quarter is expected to have widened to 6.1% of GDP from the 5.8% in the previous period.

The widening deficit will increase pressure on the Rand, which has lost over 15% of its value already this year.

And yet in the US itself, the Nasdaq closed at a 13 year high last night.

Over 70% of companies trading on the Nasdaq closed higher as the world's big economies release positive data.

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After buying up millions of dollars worth of shares in PC maker Dell, investor Carl Icahn has given up on his hostile takeover plans.

He says he continues to oppose CEO Michal Dell's plans to take the firm private, but there's probably little he can do about that now.

Dell plans to evolve from a consumer-oriented hardware company to an enterprise service provider.

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Despite the pressure on people's pockets, seven out of ten Irish workers have a pension, according to Friends First, an 8% increase on two years ago.

Among those with no pension, almost two thirds say they do not have one because they cannot afford to contribute.

Over half of participants in the survey said they planned to rely on the State pension on retirment.

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Irish hotels prices are on the way up.

According to the hotels.com price index, the cost of a room in Ireland has gone up 2% in the first six months bringing the average cost of a hotel room here to €92.

Killarney is the most expensive town now to get a hotel room - prices were up 5% to €107 on average.

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80 jobs are to be created by Carphone Warehouse and Harvey Norman as the handset retailer rolls out more outlets in the department store.

The first 'store-in-store' was opened in Swords lat year but they are rolling out more over the coming weeks and months.

Recruitment of managers and sales staff is underway.