COSTS MOVE NEEDED TO PREVENT ANOTHER HOSPIRA - The latest jobs tragedy in Donegal seems to be a further chapter in the serious decline of the country's manufacturing base. Hospira is to shut its Donegal operation over the next 18 months transferring the 560 jobs to Costa Rica and the Dominican Republic.
Hospira is involved in the manufacture of medical equipment and a member of the IBEC supported, Irish Medical Devices Association.
The association's director, Sharon Higgins, said it had been saying for some time that the costs of doing business were rising at an unsustainable pace, and as a result the Hospira news was 'no huge shock'.
She said she was not expecting further immediate job losses in the sector, but warned that there must be action on costs such as energy.
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NEW FIRM OFFERS STOCK MARKET COURSES - Around 10% people here directly own shares. That is relatively low compared with the UK, where it is estimated more than a quarter of the population dabbles in the stock market.
Rory Gillen, better known as head of research at stockbroker Merrion, has identified what he believes is a pent up appetite for direct investment in stocks and shares. But he has also identified a lack of confidence amongst would-be investors on how to get it right.
This morning he is branching out with his own company, which promises to train novices in the art of investing in stocks and shares. The company is optimistically branded 'Invest Like The Best'.
Mr Gillen said there were very few places to go to learn about stock market investing. He said Irish people had become used to regular saving through the SSIA experience, adding that he saw no reason why people should not continue to save through the stock market.
He said regular investing was one of the most powerful approaches to the stock market, as it ignored the volatility. Mr Gillen's company is offering a one-day seminar and has launched a website called www.investlikethebest.com. The cost is €585, which he acknowledges is 'not particularly cheap' but he said he had not found a similar course at that price anywhere near that price. Mr Gillen is staying with Merrion.
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MARKETS - The Nikkei index of Japanese shares closed up 29 at 12, 502. The euro is trading at $1.217 and just under 67.9p sterling.
