Monday 24 July 2017

Kerry Group offer accepted by co-op

AGRI-FOODS

THE sale of Newmarket Creameries Co-op to Kerry Group moved a step closer yesterday after Newmarket shareholders formally accepted Kerry's offer of €421 per share.

Kerry have received valid acceptances for 82.49pc of the issued share capital and will now move to take full control. The deal is subject to approval by the Competition Authority.

Firms starting to 'value innovation'

SURVEY

A SURVEY on companies' attitudes towards innovation shows that they are beginning to embrace the importance of innovation for growth with 71pc planning to undertake some form of innovative activity over the coming 12 months. The latest InterTradeIreland All-island Business Monitor Survey found that 25pc of businesses use social media to promote their business.

INM shares are upgraded by 5pc

RATING

NCB Stockbrokers have upgraded forecasts for Independent News & Media (INM) by 5pc on the back of their latest interim results. NCB cited "stronger than anticipated operating performances in Australasia and South Africa" resulting in a 5pc upgrade to adjusted earnings per share for the current financial year.

High number of new cars licensed

CAR SALES

OFFICIAL figures show that the number of new cars licensed in August more than doubled compared with the same month last year. The Central Statistics Office said 5,310 new cars were licensed in the month, compared with 2,422 a year earlier. Car sales have been showing strong increases this year, helped by the scrappage scheme.

BBC pensions row sparks strikes

PENSIONS THOUSANDS of BBC workers are to stage two 48-hour strikes in a row over pensions, it was announced yesterday. Journalists, technicians and other broadcast staff will walk out on October 5 and 6, when the Conservative Party conference will be held, and again on October 19 and 20, the date of the UK government's comprehensive spending review. The BBC announced plans to overhaul its defined benefit schemes in June after discovering the deficit had ballooned from £470m (€564m) in 2008 to about £2bn (€2.4bn).

Irish Independent

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