Friday 2 December 2016

What it says in the papers: business pages

Published 30/08/2016 | 07:04

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

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Irish Independent

* The controversial European/ US free trade deal is still being negotiated and will happen, the European Union's most senior diplomat to Washington has insisted.

The view of EU ambassador to the US David O'Sullivan contradicts weekend comments by German economy minister Sigmar Gabriel, who effectively said the Transatlantic Trade and Investment Partnership (TTIP) deal was dead in the water.

* Three different banks have now received almost €5m from appointing receivers to the assets formerly owned by Deputy Mick Wallace's main building firm.

This follows new documentation lodged with the Companies Office showing that ACC Bank, Bank of Scotland (Ireland) and AIB have received a combined €4.8m to date from the receivership of assets formerly owned by M&J Wallace Ltd. The first bank to move against the firm was ACC Bank.

* Supermac's supremo Pat McDonagh is making a second bid to have in place a Barack Obama Plaza-style motorway service area in Co Clare.

Mr McDonagh confirmed yesterday that fresh plans for a motorway stop outside Ennis are to be lodged with Clare Co unty Council in the coming days.

The Irish Times

* The European Commission is to rule against Apple later today in a case that will deem its tax arrangements with the Irish State as illegal State aid.

It is understood the value of back taxes Apple will be urged to pay is far greater than previously touted by Government.

* Ireland's largest telecoms firm Eir is to challenge its state obligation to provide rural services to uneconomic lines.

According to a report in The Irish Times, Eir is looking to alleviate the burden of its universal social obligation.

* A number of pension funds are eyeing up the Liffey Valley shopping centre, which has been put up for sale in recent months with a price of around €600m.

Both the Canadian Pension Plan Investment Board and German's largest public pension fund, Bayerische Versorgungskammer, have been weighing up a move for the centre.

Irish Examiner

* Ireland has fallen down the table in a league of countries a locations for expats according to a survey by InterNations, which ranks Ireland as 56 out 67 countries out of popular destinations to live.

The survey takes in everything from cost of living to weather and amenities.

* Supermac's supremo Pat McDonagh is making a second bid to have in place a Barack Obama Plaza-style motorway service area in Co Clare.

Mr McDonagh confirmed yesterday that fresh plans for a motorway stop outside Ennis are to be lodged with Clare Co unty Council in the coming days.

* Three different banks have now received almost €5m from appointing receivers to the assets formerly owned by Deputy Mick Wallace's main building firm.

This follows new documentation lodged with the Companies Office showing that ACC Bank, Bank of Scotland (Ireland) and AIB have received a combined €4.8m to date from the receivership of assets formerly owned by M&J Wallace Ltd. The first bank to move against the firm was ACC Bank.

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