FURTHER Budget cuts may be needed says IMF

Posted in Finance News on 25. Jun, 2010

FURTHER Budget cuts may be needed because economic growth is unlikely to match ambitious government forecasts, the IMF suggests. Under Finance Minister Brian Lenihan’s plans at least €7bn is needed in cuts and tax rises over the next four years — which means more than half the total correction has already been achieved. But the Department of Finance [...]

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As recession adds to losses at Clerys, shareholders to suffer

Posted in Finance News on 23. Jun, 2010

The recession catapulted losses at department store operator Clery & Co to almost €1.9m in the 12 months to the end of last January from just over €308,000 the previous year as gross sales at the group tumbled 26pc, or nearly €18m, to €51.3m. The retailer is paying no final dividend in respect of the [...]

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