Sunday 23 July 2017

What it says in the papers: business section

Sean Duffy

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

Irish Independent

  • A border tax that would have hammered Irish exports to the US and risked provoking a global trade war was dropped from the sketchy tax reform package announced by the White House last night.
  • Bord na Mona and the ESB are joining forces to develop four huge solar farms that are likely to cost in the region of €500m and generate sufficient electricity to power 150,000 homes.
  • Saudi Arabia listed its biggest ever sharia-compliant bond, known as a sukuk, on the Irish Stock Exchange yesterday, cementing Dublin's reputation as a centre for liquid securities.
  • Plans to boost the amount that Grafton chief executive Gavin Slark and other top brass at the €2bn building materials group can earn under its long-term incentive scheme have been criticised by influential shareholder advisory group PIRC.
  • Ireland's biggest company, building materials giant CRH, expects its first-half earnings to be ahead of the €1.12bn it generated in the first six months of 2016.

Irish Times

  • Donald Trump’s tax reform plan could slow future flows of foreign direct investment into Ireland.
  • People with offshore assets have been warned to make a disclosure to the revenue commissioners by next Monday.
  • Just under 10pc of investors in Tullow Oil objected to the re-election of Aidan Heavey as chairman of the board at the companies AGM.
  • Brexit could disrupt the all-Ireland single energy market, according to the British Irish Chamber of Commerce.
  • Irish-based fintech company Currency Fair is to target small and medium sized firms. Ireland’s advertising watchdog received 1,329 complaints last year, a rise of 8pc.

Irish Examiner

  • A woman taking legal action in Mayo against car giant Volkswagen has criticised the decision of the company’s lawyers not to appear in court.
  • The Irish unit of tech giant Oracle made a loss last year despite posting revenues of €8.7bn.
  • The Shannon Group set aside €1.3m last year to finance a major redundancy scheme.
  • Pizza Hut is set to open three outlets in Ethiopa this year.
  • Record sales of luxury German brand Mercedes Benz has seen the company’s parent, Daimler, raise its profit forecast.

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