ENERGY FIRM'S €60m TURBINES PLAN - Limerick-based Wind Energy Direct, a renewable energy company, has big ambitions to cut the energy bills for electricity guzzling corporates. The idea is to spend €60m putting wind turbines into 15 locations over the next four years. The first project is set to be built by next March.
Founder Dominic Costello says the company is installing wind turbines on companies' own sites. The company operates a 'build, own and operate' model and claims to be selling electricity to companies at at least a 10% discount in the first year.
He says the company has a number of investors, and has not had problem finding funding from banks. Mr Costello says Wind Energy Direct is offering companies a hedge against future energy costs.
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RECRUITMENT FIRM MOVES INTO CENTRAL AMERICA - Businessmen Denis O'Brien and Leslie Buckley own recruitment company Saongroup.com which has operations in 12 countries on four continents. The company has grown out of Irishjobs.ie - its trading brand here.
This morning it has announced a deal worth more than $3m to buy Tecoloco.com, which operates in Central American countries of Guatemala, El Salvador, Honduras, Panama and shortly Costa Rica.
Saon chief executive Ciaran McCooey says Central American internet penetration rates are relatively low, but the region's economies are growing by around 5% a year, and the company expects online recruitment to grow.
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DARLING PUTS STERLING UNDER PRESSURE - On the currency markets, sterling is hitting record lows against the euro. This morning it is worth 81.1p.
Friends First chief economist Jim Power said British Chancellor Alistair Darling had told the Guardian at the weekend that the UK slowdown was much worse than the government had feared. He said those comments had put sterling under serious pressure.
The economist added that there were also strong expectations that the Bank of England would have to cut interest rats aggressively later this year.
