Thursday 24 August 2017

What it says in the papers – business page

Here's a look at what it says in the business papers of today's newspapers:

Irish Independent

  • Profits at the Michelin-starred restaurant l'Ecrivain, owned by Derry and Sallyanne Clarke, more than doubled last year to €114,121.
  • Eir and other objectors have sought to block plans for a €21m nine-storey hotel on the site of the former Andrews Lane Theatre near Dame Street in central Dublin.
  • Nama's chairman, Frank Daly, and its chief executive, Brendan McDonagh, have waded into the debate about how to tackle Ireland's high level of mortgage arrears.
  • The volume of completed venture financings in Ireland has dipped to a five-year low, according to the latest quarterly report on global venture capital trends from KPMG.
  • Norwegian Air has reported a slump in earnings and said the outlook for both growth and costs was worse than had previously been expected.

Irish Times

  • Penneys among the retailers giving pay rises as the domestic economy continues to improve and retail sales grow.
  • Irish inflation turned negative last month, snapping a seven month sequence of price growth.
  • State body Horse Racing Ireland will ask the Government to allow racehorse owners to claim back VAT on the purchase of bloodstock.
  • Ibec calls for €1bn special fund to help companies affected by Brexit.
  • Greenergy, one of the leading suppliers of road fuels in the UK, has acquired Cork-based oil importer and supplier Inver.

Irish Examiner

  • Shares in AstraZeneca fell more than 5pc, stripping at one stage €3.5bn from its market value, after the drug company declined to deny a media report that chief executive Pascal Soriot was about to defect to Teva Pharmaceutical.
  • The Consumers’ Association of Ireland has said it strongly suspects that the full benefits of the over 13pc surge in the value of the euro against the sterling in the past year are not being passed onto Irish shoppers.

Online Editors

Also in Business