Saturday 3 December 2016

What it says in the papers: business pages

Published 20/10/2016 | 06:56

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

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Irish Independent

* Rolling out the Government's National Broadband Plan (NBP) carries a risk of "re-monopolisation" of infrastructure if not handled correctly, the chief executive of fibre network Enet has warned.

Irish company Enet is one of three bidders, along with Eir and the ESB Vodafone tie-up Siro, still in the running for a tender to roll out the project.

* Ireland's biggest media buying agency, Core Media, is looking at acquiring a public relations firm here as part of its push to become the first full-service agency in the country, according to chief executive Alan Cox.

That move could put a number of independent PR firms in its sights.

* Close to half a million people, mostly self-employed, who are due to file a tax return by the end of this month have been warned they face penalties if they are late.

Those filing online get extra time to make a return, but Revenue said they need to check that they can still log into the system.

The Irish Times

* Finance minister Michael Noonan is to make changes to the help-to-buy scheme after the Central Bank warned it could encourage taxpayers to take on too much debt.

Mr Noonan is due to publish the Finance Bill later today as he comes under pressure from Fianna Fáil over the upper limit of the scheme.

* The Government is to introduce a new 20pc levy on overseas investors holding Irish property in funds with the aim of clamping down on a tax-minimisation device.

The tax is due to be published later today in Minister Noonan's Finance Bill despite lobbying from property investors, corporate lawyers, and accountancy companies.

* Building materials group CRH is to spend €900m on investing in new plants and facilities.

The spend will mark the company's biggest outlay into infrastructure since before the global financial crisis.

Irish Examiner

* Accumulated profits at the UK arm of concert promoters Aiken Promotions last year jumped to £1.6m (€1.74m).

New accounts recently filed by Aiken Promotions Ltd with Companies House in the UK show that accumulated profits at the firm jumped from £1.37m to £1.64m in the 12 months to the end of December last.

* Circle Oil has come under pressure after one of its main lenders is about to call in $20m debt due to be repaid next month.

The firm, which has an operational focus on Northern Africa, already has total debt on its books of $77.5m.

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