A round-up of today's other stories in brief...

Glanbia receives grant worth €6.3m

The first tranche of funding for new dairy processing facilities has come on stream with the announcement yesterday by Minister for Agriculture Mary Coughlan of a €6.3 million grant for Glanbia.

The grant will go towards a €21 million expansion of the Glanbia Innovation Centre, Leggetsrath Business Park, Kilkenny.

Citigroup names new chief

Citigroup yesterday named Vikram Pandit, head of its institutional clients group, as chief executive and said Win Bischoff would serve as chairman, effective immediately.

The announcement ends weeks of speculation over who would take the helm at the largest US financial services company. Citi has been seeking a replacement for former chief executive Charles Prince, who left on November 4th under pressure from shareholders frustrated by Citi's laggard performance. - ( Bloomberg)

Saxony insists it will sell Sachsen LB

The state of Saxony insisted yesterday that it still expected to sell publicly owned bank Sachsen LB to Landesbank Baden-Württemberg (LBBW) soon in spite of a dispute about who will shoulder potential losses from the stricken group's subprime investments, based in Dublin.

LBBW has signalled that it will not buy Sachsen LB unless the Saxon state government agrees to cover losses - estimated at between €1 billion and €4 billion - that might arise from assets that have lost value in market turmoil. - ( Financial Times service)