Business Irish

Wednesday 26 July 2017

What it says in the papers – business pages

Ellie Donnelly

Here's a look at what it says in the business papers of today's newspapers:

Irish Independent

  • Trump’s tax plan ‘will be rejected and changed by Congress’ according to former US senator George Mitchell.
  • AIB ceo Bernard Byrne urged the Government to pull the trigger and return the State-owned lender to the stock markets by summer.
  • Almost a fifth of shareholders in building materials giant CRH have voted against a remuneration package that saw CEO Alfred Manifold paid almost €10m.
  • Two units of Genesis Homes, a homebuilder controlled by former McInerney Holdings chief executive Barry O'Connor, have been placed in receivership after a repayment date was missed.
  • Kingspan's Murtagh 'surprised' by focus on pay - over a quarter of shareholder votes went against a new incentive scheme for senior staff at Kingspan.

Irish Times

  • KBC to cut fixed interest mortgage rates by 0.35pc. It also plans to increase the sum it pays to those switching their home loans from another bank by 50pc to €3,000.
  • Irish property fund IPUT has told its investors that it expects to secure an additional annualised €15 million in rent from lettings associated with four new developments in central Dublin.
  • Just 10 firms paid nearly 40pc of Ireland’s corporation tax last year, Revenue has confirmed.
  • Profits double and revenue dips at Donegal Investment Group in the first six months to the end of February.
  • The Charities Regulator rejected some of the main arguments made to it by the charitable foundation of the corporate law firm, Matheson, over the past deployment of the foundation as share trustees to help hedge funds avoid tax.

Irish Examiner

  • Shares in British explorer Europa Oil and Gas climbed 6pc yesterday on the back of the company effectively doubling the reserve estimate at one of its chief prospects off the west coast of Ireland.
  • A number of London banks are likely to decide within two months where to set up new continental bases to make sure they can keep serving clients in the bloc after Brexit.

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