Business and City in Brief

Deutsche Bank denies arrests

Deutsche Bank was forced to deny rumours circulating in the Frankfurt Stock Exchange that members of its board had been arrested in connection with the Schneider property collapse, after its shares fell 4 per cent.

Meanwhile Die Welt, the German newspaper, was set to publish the whereabouts of Juergen Schneider, the fugitive property magnate. He is alleged to be staying on an island off Florida.

Dublin Governor

Maurice O'Connell, has been appointed Governor of the Central Bank of Ireland. He succeeds Maurice Doyle who retires at the end of this month. Mr O'Connell is second secretary in the Department of Finance in Dublin.

Hope for Swan

The stricken Swan Hunter shipyard on the Tyne was last night reported to be in the running to win a big order for the South African navy. Jane's Defence Weekly reported that if the ANC wins next week's elections, it wants to buy six corvettes. Swan's survival meanwhile could hinge on a pounds 30m refit order from the Ministry of Defence.

Daewoo fast-forward

Daewoo of South Korea is creating 250 jobs with a pounds 17m investment at its video cassette recorder factory in Antrim, Northern Ireland. The investment will convert the plant, which employs 417 workers, into the only fully integrated VCR maker in Europe. It is the third Korean investment in the province in a year.

US deficit widens

The US trade deficit in February rose to a higher-than-expected dollars 9.7bn ( pounds 6.6bn), up from dollars 6.6bn in January. The merchandise trade deficit was also up, from dollars 10.7bn in January to dollars 12.36bn, the Commerce Department said.

Westland tally

GKN owns or has received acceptances for shares in Westland Group representing 90.8 per cent. It has agreed to acquire a further 1.1 million shares bringing its interest to 91.6 per cent.

Pumped up

Philips, the Dutch electronics group, has won a 30m-guilder (pounds 10.6m) contract to supply under-canopy lighting for all new or refurbished Royal Dutch/Shell service stations in Europe for the next five years. The contract is part of the oil company's programme to give a facelift to 5,000 service stations in 22 European countries.

Lufthansa improves

Lufthansa made a 1993 pre-tax loss of DM50m (pounds 19.9m), compared with a loss of DM297m a year earlier. The number of employees fell by almost 4,000, reducing costs by more than DM300m.

Gaps at the top

Management vacancies are up 22 per cent on a year ago and 30 per cent in the quarter, according to figures published today by MSL, the recruitment consultant. High technology and retail showed particular strength.

Head water man

Bernard Henderson, chairman of Anglian Water since 1981, has been appointed chairman of the British Waterways Board.

Rhone deal cleared

The European Commission has approved the acquisition of Cooper, the French drugs company, by Rhone-Poulenc.

World Markets

New York: Shares recovered after heavy falls, and after a mid- afternoon gain of 7.14 points the Dow dipped again to close 0.60 of a point down at 3,619.82.

Tokyo: With investors sidelined after Wall Street's steep fall, the Nikkei average gave up 85.02 points to close at 20,192.34.

Hong Kong: The rise in US interest rates hit the exchange harder than other Asian markets, with the Hang Seng index tumbling 202.93 points to 9,303.91.

Sydney: Also tracking New York, the All Ordinaries index dropped 34.5 points to 2,061.4.

Bombay: Ahead of tomorrow's end of the account the index ended 15.26 points lower at 1,862.99.

Johannesburg: Industrial stocks were strong and gold shares steady as the overall index recorded a 110-point gain to 5,080.

Frankfurt: A sharp sell-off partly attributable to weakness in the bond market lowered the DAX index 56.36 points to 2,172.42.

Paris: Amid concern over European interest rates the CAC-40 index fell 24.08 to 2,135.98.

Zurich: Blue chips bore the brunt of the decline as the SPI surrendered 14.94 to 1,825.74.

London: Report, page 28.

Start your day with The Independent, sign up for daily news emails
PROMOTED VIDEO
ebooks
ebooksA special investigation by Andy McSmith
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Recruitment Genius: Software Development Manager

£40000 - £50000 per annum: Recruitment Genius: This is an exciting opportunity...

Ashdown Group: Product Manager - (Product Marketing, Financial Services)

£30000 - £35000 per annum + Benefits: Ashdown Group: Marketing Manager - Marke...

Recruitment Genius: Compliance Assistant

£13000 per annum: Recruitment Genius: This Pension Specialist was established ...

Ashdown Group: Market Research Executive

£23000 - £26000 per annum + Benefits: Ashdown Group: Market Research Executive...

Day In a Page

Isis hostage crisis: The prisoner swap has only one purpose for the militants - recognition its Islamic State exists and that foreign nations acknowledge its power

Isis hostage crisis

The prisoner swap has only one purpose for the militants - recognition its Islamic State exists and that foreign nations acknowledge its power, says Robert Fisk
Missing salvage expert who found $50m of sunken treasure before disappearing, tracked down at last

The runaway buccaneers and the ship full of gold

Salvage expert Tommy Thompson found sunken treasure worth millions. Then he vanished... until now
Homeless Veterans appeal: ‘If you’re hard on the world you are hard on yourself’

Homeless Veterans appeal: ‘If you’re hard on the world you are hard on yourself’

Maverick artist Grayson Perry backs our campaign
Assisted Dying Bill: I want to be able to decide about my own death - I want to have control of my life

Assisted Dying Bill: 'I want control of my life'

This week the Assisted Dying Bill is debated in the Lords. Virginia Ironside, who has already made plans for her own self-deliverance, argues that it's time we allowed people a humane, compassionate death
Move over, kale - cabbage is the new rising star

Cabbage is king again

Sophie Morris banishes thoughts of soggy school dinners and turns over a new leaf
11 best winter skin treats

Give your moisturiser a helping hand: 11 best winter skin treats

Get an extra boost of nourishment from one of these hard-working products
Paul Scholes column: The more Jose Mourinho attempts to influence match officials, the more they are likely to ignore him

Paul Scholes column

The more Jose Mourinho attempts to influence match officials, the more they are likely to ignore him
Frank Warren column: No cigar, but pots of money: here come the Cubans

Frank Warren's Ringside

No cigar, but pots of money: here come the Cubans
Isis hostage crisis: Militant group stands strong as its numerous enemies fail to find a common plan to defeat it

Isis stands strong as its numerous enemies fail to find a common plan to defeat it

The jihadis are being squeezed militarily and economically, but there is no sign of an implosion, says Patrick Cockburn
Virtual reality thrusts viewers into the frontline of global events - and puts film-goers at the heart of the action

Virtual reality: Seeing is believing

Virtual reality thrusts viewers into the frontline of global events - and puts film-goers at the heart of the action
Homeless Veterans appeal: MP says Coalition ‘not doing enough’

Homeless Veterans appeal

MP says Coalition ‘not doing enough’ to help
Larry David, Steve Coogan and other comedians share stories of depression in new documentary

Comedians share stories of depression

The director of the new documentary, Kevin Pollak, tells Jessica Barrett how he got them to talk
Has The Archers lost the plot with it's spicy storylines?

Has The Archers lost the plot?

A growing number of listeners are voicing their discontent over the rural soap's spicy storylines; so loudly that even the BBC's director-general seems worried, says Simon Kelner
English Heritage adds 14 post-war office buildings to its protected lists

14 office buildings added to protected lists

Christopher Beanland explores the underrated appeal of these palaces of pen-pushing
Human skull discovery in Israel proves humans lived side-by-side with Neanderthals

Human skull discovery in Israel proves humans lived side-by-side with Neanderthals

Scientists unearthed the cranial fragments from Manot Cave in West Galilee