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The Commanderie des Fins Goustiers du Duché d’Alençon has welcomed the Co Cork food producer into its order in recognition of the excellence of its produce. The specialist French society cited the Clonakilty White Pudding, Clonakilty Ispini Sausages and Clonakilty Black Pudding Sausage as outstanding products.

This is Clonakilty’s second award in a matter of weeks, having been among the winners also at the recent Ulster Bank business achievers awards.

The Bentley field has moved a step closer to production. Picture: Getty

ONE of the largest undeveloped fields in the North Sea moved a step closer to production on Tuesday after Aberdeen-based Xcite Energy signed contracts to store oil from its test well on the site.

The Bentley field, which was discovered in 1977, lies to the east of Shetland and could contain up to 116 million barrels of “proved and probable” heavy oil.

Xcite was awarded a licence to develop the site in 2003 and began drilling an appraisal well in February using the Rowan Norway drilling rig.

Under the latest deals, Teekay Navion Offshore Loading will supply the tanker Scott Spirit to store oil being extracted from the appraisal well. Pip

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Morning Ireland: David Murphy reports on the latest figures relating to AIB’s annual losses Morning Ireland: Business News – 7.50am bulletin

AIB has reported an annual loss after tax of 2.3 billion for 2011, down from a loss of over 10 billion in 2010.

The bank set aside 7.9 billion to provide for expected losses on loans including 1.6 billion related to residential mortgages.

1.7 billion related to land and development, 2 billion to the property portfolio, 1.6 billion to SME loans and 0.5 billion for corporate other personal sector loans.

AIB chief executive David Duffy said the bank was still on track to meet its goal of returning to profit in 2014.

AIB CEO David Duffy said credit quality continued to worsen across all its divisions, especially in the property and residential mortgage sectors.

The results show that operating profits for the year – before provisions – fell to 68m from 658m the previous year.

It said this was due to lower levels of income – down 22% – and a 4% rise in costs .

Operating expenses of 1.7 billion were 4% higher, of which 2% were due to the inclusion of the 42m of EBS costs.

AIB said that deposits were stable from August due to increased consumer confidence after the recapitalisation of the bank in July.

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The agency had opposed the stay application, but the companies claimed that a stay would help save jobs within the group and allow them to realise and maximise the value of assets for their own benefit and fro that of Nama.

Nama had brought proceedings seeking summary judgment for €137.6m against Maplewood Developments, €95.3m against Moritz Holdings and €74.6m against Rumbold Builders over unpaid loans advanced by AIB, Bank of Ireland and Anglo Irish Bank, now Irish Bank Resolution Corporation.

Nama acquired the loans on dates from October to December 2010.

The companies separately owe some €280m to Ulster Bank.

This week, Mr Justice Peter Charelton was told the companies were consenting to summary judgment for €70m in the case of Maplewood, €27.8m for Moritz Holdings and €74.6m for Rumbold.

Nama

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Newspaper and website publisher Johnston Press today said it will move the publication date for its full-year financial results while it continues constructive discussions with its lenders.

The London-listed company, which was due to issue its results for 2011 on Tuesday 3 April, has now moved them to Wednesday 25 April.

The group owns The Scotsman newspaper, about 260 local titles throughout the UK and Ireland and websites that together boast some 17.4 million readers each month.

Johnston Press said: “The company has been in constructive discussions with its lenders regarding the extension of its credit facilities for a further three years from their current maturity on 30 September 2012 and will provide a further update to the market as part of the preliminary results announcement.”

The future of Game Group is hanging by a thread after it filed for administration and admitted the business was worthless, jeopardising 6,000 jobs in the UK.

The video game retailer has been trying to negotiate a rescue deal with the private equity firm OpCapita which recently bought electrical goods retailer Comet, but its offer has been blocked by Game’s lenders, led by the Royal Bank of Scotland.

Game shops remain open and a fire sale has started. The company admitted on Wednesday that the business had “no equity value” when its shares were suspended from stock exchange trading.

The company, which runs 1,270 shops, half of them in the UK, and employs 10,000 people worldwide, needs to raise around £180m to stave off collapse.

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