ACCENTURE TO CREATE 100 NEW JOBS IN DUBLIN - Global management consultancy Accenture is to create 100 IDA-supported jobs over the next four years at a new centre in Dublin. The company already employs 1,300 people in Ireland. The company is to open a research, development and innovation centre in Dublin to develop predictive analytics solutions for its clients around the world.
Mark Ryan, the country managing director of Accenture in Ireland, says the centre is the first of its kind to be located in Ireland. Many of the 100 new jobs created will be focussed specifically on research and development. Other such centres are located in Bangalore, Chicago, Milan, Mumbai, New Delhi and San Jose in California. He says the four year time frame is to the time required to build up the skills and momentum required.
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MORNING BRIEFS - European politicians and their officials will be looking at movements in the cost of government debt in euro zone economies again today. Yesterday Italian and Spanish bond yields saw their biggest one day increase in more than a decade on market concerns about forcing government bond holders to suffer a payment default during periods of future economic crisis.
*** World markets have continued to react negatively to efforts by the EU and the IMF to halt the crisis in the euro zone with an €85 billion loan facility for Ireland and plans for a new permanent debt resolution scheme. The permanent debt resolution scheme will see bondholders share pain on loans from 2013, during times of fiscal crisis. That future haircut is being reflected in today's bond figures which has seen the value of government IOUs fall, and the yields increase as a consequence. Belgium is the latest country to start attracting unfavourable attention with the cost of borrowing there widening against the benchmark 10 year German bund.
*** The euro fell to $1.3065 yesterday, a low not seen since September 21. But it is now back above $1.31 morning. It has fallen by 6% against the dollar so far this month. However, a weaker dollar does make Irish exports more attractive and they are important if the growth targets are to be met.
