Saturday 22 July 2017

What it says in the papers – business pages

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

Irish Independent

  • The Corrib gas field has left Shell and its partners in the project with losses running to the best part of €2bn to date.
  • The man running Sweden's biggest security firm was declared bankrupt this week after his identity was hacked.
  • Revenues at the Tuam firm Valeo Vision Systems at the cutting edge of driverless car technology soared past the €300m mark in 2015, new accounts show.
  • Adrian Weckler: Dublin's days as a techie Cinderella are numbered
  • Nama's decision to sell its interest in Battersea Power Station has been called into question once again, with the revelation that its new owners expect to make a profit of €2.02bn from its development.

Irish Times

  • The scope for expenditure increases and tax cuts in the next budget will be just €300m, the Minister for Finance has indicated.
  • Google won its fight against a €1.12bn French tax bill after a court rejected claims the search engine giant abused loopholes to avoid paying its fair share.
  • Property giant Hines intends seeking planning permission for a new student accommodation block in Dublin after opening a fourth such facility on in the capital on Wednesday.
  • Profits at designer Paul Costello’s firm triple in two years to €549,544, the firms accounts show.
  • Revolut, an app-based banking alternative, has raised €58m in funding and has gained 10,000 new Irish users.

Irish Examiner

  • Pre-tax profits at the Dublin- based unit of Western Union last year rose 18pc to $33m (€28.9m).
  • The UK’s competition regulator has referred Tesco’s proposed £3.7bn (€4.17bn) takeover of wholesaler Booker for a detailed investigation.

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