News roundup: top news at lunchtime
* Shares drop after Spanish bank downgrade. * IBM is to open new Dublin hub. * Referendum is a one-off, insists government. * Bank of Ireland outlines redundancy scheme.
The top Irish and international business stories at midday:
**Share markets** are falling after Moody's downgraded 16 Spanish banks(http://www.businesspost.ie/#!story/Home/News/Moody's+cuts+credit+ratings+of+16+Spanish+banks/id/89127228-1884-fb56-521e-568063419627), adding to concerns for the euro currency.
**IBM** plans) to create a new hub in Dublin, creating hundreds of jobs.
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