Monday 24 July 2017

What it says in the papers

Here are the main business stories from this morning's papers:

Irish Independent

  • Google is to expand its docklands headquarters in Dublin in a move that will see the company add an extra 400 jobs.
  • Ryanair chief Michael O’ Leary has insisted that the low-cost carrier’s decision to expand its services out of Stansted does not represent a reversal of its previous promise to slash investment in the UK in the aftermath of Brexit.
  • Tesco Ireland enjoyed a jump in sales this year as a result of the fall in sterling
  • Canadian property group Camgill has made its first venture into the Irish market after investing in Galway-based Superpixel Labs.
  • Dublin airport reported traffic of 27.9m people last year, an 11pc increase on 2015.
  • Investment expert Pimco has forecasted a further drop in the value of sterling in the year ahead.

Irish Times

  • The value of commercial real estate in Dublin is set to rise by 4pc this year
  • An investment company owned by television personality Eddie Hobbs has had a number of properties seized in the US because of unpaid property taxes.
  • Siptu workers at Pfizer’s Cork factory are set to ban overtime at the plant in protest at the company’s plan to alter pension contributions.
  • Irish firm Mainstay Medical is seeking permission to expand into the Australian market. The company makes medical devices for people with chronic lower back pain.

Irish Examiner

  • Lobbyists for the City of London have given up on attempts to retain full access to the EU in a move that signifies the increasing likelihood of a “hard-Brexit”.
  • The German economy expanded at the fastest pace in five years in 2016.
  • Sales at discount retailer Primark have been boosted by the strong performance of the company’s Irish arm, which trades as Pennys.
  • Killarney’s Muckross Park Hotel posted record earnings last year with revenues of just under €600,000.
  • Donald Trump’s plan to cut taxes could adversely impact on the country’s credit rating, according to rating agency Fitch.

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