Thursday 27 July 2017

In breif: Advisers brought in to Oddbins' parent

RETAIL: THE PARENT of the four Oddbins off-licences in Dublin has called in advisers to assess the state of the company amidst what it described as "a tough trading environment".

Oddbins chief executive Simon Baile said the group had hired Spectrum Corporate Finance, an advisory boutique, to "kick the tyres" and work out how to take the 128-shop chain forward.

Conroy drilling at Monaghan site

MINING

CONROY Gold said yesterday it has started infill drilling at a site in Co Monaghan. The company said it had begun infill drilling at its Clontibret gold target after a scoping study yielded "positive" results on both technical and financial grounds. The evaluation was based on a pre-tax financial model, taking a commodity price for gold of $1,144 per ounce.

Google moves to buy its Dublin HQ

PROPERTY

GOOGLE has confirmed it is to buy its European HQ in Dublin. The move confirms earlier reports and follows the €99m purchase of the "Montevetro" building beside the firm's current offices. Terms of the deal were not disclosed but there had been suggestions that the purchase of the Gordon House and Gas Works buildings could cost more than €100m.

Spain given negative outlook by Fitch

RATINGS

FITCH Ratings said it has revised Spain's rating outlook to negative from stable and affirmed its long-term foreign and local currency issuer default ratings at 'AA+'. Fitch said the negative outlook reflects its judgment regarding the balance of risks around the sustainability of economic recovery, the ultimate fiscal cost of the restructuring of the savings banks and the adherence to budgetary targets.

Renault boss casts doubt on spy claims

INVESTIGATION

A SENIOR Renault executive has for the first time cast doubt on claims the French carmaker was the victim of industrial espionage. Chief operating officer Patrick Pelata said Renault may have been tricked into believing it was the target of spying. Three executives were sacked and China issued an angry denial amid a whirlwind of allegations about the affair.

Irish Independent

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