MEDIA & MARKETING:There are more jobs available, but applicants may have to take pay cuts or work part-time, writesSIOBHAN O'CONNELL

Restructuring costs totalling €2.7 million at the Dublin-based European Services Centre for car-hire giant Hertz contributed to pre-tax profits at the firm dropping by 20 per cent to €10.8 million in 2008.

Fearful of inflation and growing asset bubbles, Chinese authorities have ordered some of the country’s big banks to curb lending for the rest of January.

Former Coral and UK Tote executive, Lee Richardson is taking the helm at Irish independent bookmakers, Boylesports.

JP Morgan broke Irish Takeover Panel rules when it failed to disclose dealings in securities of Dragon Oil when the oil producer went into an offer period during 2009, the Irish Takeover Panel said yesterday.

Bank of Ireland is planning to raise five-year Government-guaranteed debt, making it the second financial institution to tap the bond markets using the extended State bank guarantee scheme.

Inside The World Of Business

PROFITS AT independent electricity generator Huntstown Power Company more than doubled to €37 million from its business last year, according to the latest figures.

M&T BANK, the US financial institution in which AIB has a stake, reported better than expected quarterly profits yesterday, as its net write-offs on loans decreased and it reduced its provision for credit losses.

FINE GAEL has lodged a formal objection to the National Asset Management Agency with the European Commission, a move that represents a last-ditch effort to scupper the Government’s “bad bank” scheme.

RYANAIR CHIEF executive Michael O’Leary has indicated that the airlines’ average fares could rise from the beginning of its next financial year on April 1st after four years of decline as the airline comes to terms with a slowdown in its growth.

ONE OF the longest-established firms in the State, West of Grafton Street Limited, is to close its doors. The upmarket jewellers, which first opened as West Sons on Dublin’s Capel Street in 1720, is still trading but is holding a closing-down sale.

SINGAPORE Technologies Telemedia (STT) has asked Ned Sullivan to remain on as chairman of Eircom following its takeover of the business earlier this month.

AVERAGE HOUSE prices in the Republic fell by almost 19 per cent last year to levels not seen since April 2003, according to the latest Permanent TSB/ESRI house price index.

IRISH BUSINESS Systems (IBS), a printing and imaging services group, has been bought by Xerox for €21 million, yielding a substantial pay day for its founder, Cork businessman Jerry Carey.

ENGAGEMENT BETWEEN EBS and Irish Nationwide has moved up a gear with the completion of a draft due diligence report by PricewaterhouseCoopers (PwC) outlining the financial details of the proposed union of the two building societies.

THE JUDGMENT and papers in the Residence club examinership case will be referred to the Office of the Director of Corporate Enforcement (ODCE), Mr Justice Peter Kelly said yesterday.

The euro tumbled under $1.41 at one stage today as worries mounted over the outlook for the European economy.

The Residence private members' club on Dublin's St Stephen's Green has had court protection removed.

New figures show that the average house price dropped by almost €50,000 last year, a fall of 18.5%.