Business Irish

Thursday 23 March 2017

What it says in the papers: business pages

Michael Cogley

Michael Cogley

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

Irish Independent

* Ireland will back keeping Britain in the single market, even if the country votes to leave the European Union.

Opening the door to a post-Brexit free-trade deal while the UK vote hangs in the balance runs the risk of making British Prime Minister David Cameron's effort to shore up faltering support for the 'Remain' side even harder.

* Ireland Inc needs to get over the idea of buying and owning a home, PayPal executive Louise Phelan has said.

At a time when the housing crisis and access to credit for home-buying is a key talking point and a priority for Government, Ms Phelan said that concentrating on making convenient accommodation available to people is more important.

* Ireland's leading business women are split over the question of whether to introduce gender quotas in the workplace to help break down barriers to success.

Many of the country's leading business names packed the fifth annual Women's Executive Network's (WXN) Leadership Summit in Dublin yesterday, followed by a gala awards dinner.

The Irish Times

* Ireland has been warned that its over-reliance on foreign direct investment is becoming a bigger problem for the country.

According to a report in The Irish Times, Tasc warned the state that a low-tax rate is becoming one of the most prominent ways in which firms differentiate Ireland from other EU member states.

* UK property firm Hammerson alongside its partners, the German insurer Allianz, have entered into the final tranche of discussions relating to taking equity control of Dundrum Town Centre.

According to a report in The Irish Times, the pair are looking to complete the deal for the underlying assets tied to the centre this summer.

* A ruling on Apple's tax dealings in Ireland is expected next month, the minister for finance has said.

According to a report in The Irish Times, Michael Noonan said that the commission will look to make a decision on the matter in July.

Irish Examiner

* Discount retailer Poundland, which trades here as Dealz, will look to invest heavily in Ireland as it focuses its expansion plans here.

According to a report in the Irish Examiner, Poundland expects its capital spend to exceed £25m (€32m) by the end of its financial year.

* PayPal Ireland head Louise Phelan has said gender quotas are needed to increase the number of women sitting on boards of Irish companies.

According to a report in the Irish Examiner, Ms Phelan said she typically didn't agree with the notion of quotas, but suggested they may be required to incur a change at board level.

* Profits at the company owned by One Direction star Niall Horan hit €7.75m last year according to the firm's latest accounts.

According to a report in the Irish Examiner, the Irish star's firm had its best year ever due to the band's lengthy tour.

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