Opening Bell: 140 jobs in Limerick and Mayo, BoI spends €1m fighting UK ruling, OPEC's slump

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IT company WP Engine has promised to create 100 jobs in Limerick during the next three years.

The company, which provides services for websites who use Wordpress, will establish a technology support and innovation centre in Ireland to service its 50,000 customers in Europe, the Middle East, and Asia.

The firm was founded in Austin, Texas. It offers 24/7 support to clients, covering security, cloud hosting and development tools.

Meanwhile, in Mayo Fort Wayne Metals Ireland has announced 40 new jobs as part of a €10m expansion of its production operations in Castlebar.

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During the first half of this year Bank of Ireland spent €1m unsuccessfully attempting to appeal a tax ruling in the UK.

This relates to a disputed £27m tax bill from 2003 and is based on a tax avoiding mechanism involving building society Bristol & West.

The Irish Independent reports that B&W's latest accounts show that B&W accrued costs of £940,000 (€1.09m) associated with the dispute.

Bank of Ireland fought the ruling in a number of courts before accepting the UK Court of Appeal's ruling in April. It added that it plans no further appeal.

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OPEC leaders are set to hold informal talks on the sidelines of a conference in Algiers on Wednesday of this week, as they attempt to reverse the on-going oil price slump.

Noureddine Bouterfa, Algeria's energy minister, says that a potential output cut of freeze will be discussed.

He added that Saudi Arabia, OPEC's largest member who has fought production cut, may be becoming more willing to back a cooling of output.

OPEC leaders will formally meet on November 30th.

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The jury in the trial of the former Anglo Irish Bank Chairman Seán Fitzpatrick is to return to court this morning.

The 15 members of the specially enlarged jury were sworn in at the Dublin Circuit Criminal Court last Wednesday, but evidence is unlikely to be heard for several weeks as the judge deals with legal arguments.

66-year-old Mr Fitzpatrick of Whitshed Road, Greystones, Co Wicklow is accused of misleading the bank’s auditors for five years.

The trial is predicted to last 12 weeks.