Thursday 29 September 2016

What it says in the papers: business pages

Published 23/05/2016 | 07:00

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

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Irish Independent

* It has been one of the staples of the Irish sporting calendar for years, but Mondello Park may have to close if new EU rules come into force later this year, it has been claimed.

Fine Gael MEP Brian Hayes has warned that an EU ruling into how the motor insurance sector operates would effectively wipe out the motorsports industry across the country.

* The Government must increase the capital spending programme in order to fast-track essential transport, water and flood defence projects, the Construction Industry Federation (CIF) has warned.

According to the building lobby group, much of the Government's €27bn capital investment plan is already allocated to major projects, and there is almost no slack in the system for any additional projects that have to be tackled. That means that major projects could be delayed for the foreseeable future, it warns.

* Is the link between monetary policy and inflation broken? The central bank governor of Denmark, where nominal rates have been negative longer than anywhere else in the world, says there may be signs that the link has grown weaker.

"We're in a territory where we don't have very much experience, so we can't rule out the possibility that the relationship between rates and inflation isn't as strong as it used to be," Lars Rohde (62), said.

The Irish Times

* Ireland along with fellow net contributors to the European budget may have to increase their payments in order to make up for British losses, if it decides to leave the EU.

Ireland's net contribution to the EU is due to increase regardless as the economy continues to grow.

* New York-based news site Irish Central has been sold by published Niall O'Dowd in a deal worth €2.7m.

According to a report in The Irish Times, O'Dowd sold the site to a consortium headed up by an entrepreneur that helped establish Broadway.com.

* Constraints on Government capital spending could put a number of key transport costs on an indefinite delay, the construction industry has warned.

According to a report in The Irish Times, the Construction Industry Federation is calling for the Government to intensify its long-term investment.

Irish Examiner

* Ireland has ranked just above Vietnam in world rankings carried out by Harvey Nash and KPMG of women in senior IT roles.

In a survey of 82 countries with the country ranking 13th despite the high importance of the IT sector in Ireland.

* Apple is open to the possibility of opening a manufacturing facility in India following a meeting with the country's Government.

Chief executive Tim Cook met with India's Prime Minister Narendra Modi over the weekend and also covered the areas of cyber security and data encryption.

* PwC has urged those with unresolved tax issues to negotiate a conclusion with Revenue Commissioners prior to the powers being transferred to the new Tax Appeals Commission.

The consulting firm said it has already written to those that have appealed assessments under the old system.

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