Saturday 1 October 2016

What it says in the papers: business pages

Published 12/08/2016 | 07:01

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

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Irish Independent

* The PwC building in Dublin's Docklands has been bought by London-based AGC Equity Partners in a €242m deal.

The acquisition of One Spencer Dock represents one of the first big investments by a major institution since Britain's decision to leave the European Union.

* Official data on industrial production has become the latest economic gauge to fall victim to Ireland's complex open economy.

The Central Statistics Office (CSO) has had to revise up its industrial production growth figure for 2015 to a massive 38pc on the back of the surge in GDP, and has cautioned that the data "may no longer provide a sufficient understanding of domestic production".

* Spiralling motor insurance bills will continue to dramatically climb. Cover is now rising so fast it has sent inflation to its highest level in three years.

A car insurance premium that cost €500 last year will now be hitting almost €700. The blame game for the price hikes has broken out.

The Irish Times

* Irish petrol forecourt company Applegreen is eyeing its first move into the UK with a petrol station in near Birmingham.

Applegreen said the new station will create 300 jobs if its planning application is successful.

* Irish pilots have offered to remove their opposition to Norwegian Air's bid for a foreign carrier's permit to the US, if certain commitments are made.

Unions have claimed that Irish-registered Norwegian is using the country to hire cheap labour through Asian companies.

* A recovery in the milk market can be seen in Lakeland Dairies latest price hike as the Cavan-based co-op increased its July price by 1c.

The co-op now has its milk prices set at 24c.

Irish Examiner

* Liberty Insurance has warned that the rising price of premiums is likely to continue over the next year.

The insurer said more increases are due to the risk-adverse nature currently in the market.

* A weakness in sterling following Britain's decision to leave the European Union appears to be holding back the Irish manufacturing industry, it has been claimed.

According to Davy Stockbrokers, Brexit is having a visibly negative affect on manufacturers here.

* Ride sharing app Uber has said it is still committed to the Irish market despite a number of regulatory roadblocks that have prevented it from introducing the service here.

The company opened its Limerick base back in January but has found a number of difficulties in launching its service here.

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