*** RETAINING AND COMMERCIALISING R&D - The American Chamber of Commerce this morning issued a paper called: "Retuning the growth engine" - which gives advice to the Government on building an innovation base to underpin Ireland's future sustainable growth.
Mike Devane, Chair of the Chamber's research and development group, says it has spent 18 months looking at how to increase R&D by multinationals in Ireland.
He says there is a need to commercialise the research that is currently being done.
He suggests converting many of the industrial parts into science and technology, with new innovation centres that can be accessed by big and small companies which will have the physical and human capital assets that they need to generate and build a new company.
He says there is a need to explore licensing technology to smaller companies and using third party companies to extend our own capability.
He says jobs will not come in the same volume as in the past, and that they will be different kinds of jobs, and we need to build the right capability to handle them in a sustainable and planned way.
The Chamber's recommendations come on the day the Department of Enterprise, Trade and Employment launches its voucher scheme for small business.
*** STRONG YEAR FOR INDEPENDENT NEWS & MEDIA - Results just out this morning from Independent News and Media show that profit before tax at the group rose by over 10% to €265.7m in 2006.
Operating profit rose by over 5% to €329m and sales were up 1.5% at €1.6 billion.
Independent News and Media has operations in Ireland, Australia, the UK, New Zealand, South Africa and India.
CEO of the company's Irish division, Vincent Crowley, says highlights were a strong performance in South Africa and India, and that Ireland performed well in a very competitive market. He added that in the UK the group outperformed its peers.
He says that in India the group had new product launches in the year, and has moved into outdoor and radio. He says he believes India is the most exciting economy to be in.
He says the group's bid for Australia's APN is recommended by its board and is a good bid, ahead of market price.
He said one uncertainty is the imminent new media laws in Australia, which are expected to come out in the next few months.
Asked about the planned voluntary redundancies in Ireland he said the group continues to seek efficiency in all areas of the business.
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UPBEAT BOI TRADING STATEMENT - In a trading statement this morning Bank of Ireland says momentum across the Group remains strong and it expects to deliver an excellent financial performance for the year to 31 March 2007.
It notes though increased competition in the Irish market and a slowdown in residential property growth as a result of interest rates rises.
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NEWS IN BRIEF AND MARKETS- In other results out this morning Tullow Oil reports profit before tax is €263.3m, up 47% on last year.
*** Irish business leaders remain upbeat about the outlook for the economy according Pricewaterhouse Coopers' annual CEO Pulse Survey, but the survey also reveals that costs and competitiveness are increasing concerns.
PWC says Irish business leaders believe that national infrastructure, labour costs and the cost of regulatory compliance are areas that need to be addressed. Support for Social Partnership has declined, but there are increased levels of satisfaction with the government, and only one third of CEOs feel Northern Ireland is an attractive location for investment when compared with the Republic.
*** Another survey, from research group Mintel, shows 40% of Irish adults are concerned about falling ill, 30% of adults are concerned about the cost of healthcare, but the third most common concern among Irish adults is not earning enough money.
One in four adults, and most of them in the 35 to 44 age bracket, are concerned about cash. A quarter of Irish adults are concerned about housing costs and getting onto the property ladder is a major concern for one in five 15 to 24 year olds.
*** Overnight in the US the Dow Jones and the Nasdaq both closed up around 0.5%.
On the currency markets the euro is trading at $1.33 cents and £0.67 pence sterling.
