Monday 29 May 2017

What it says in the papers: business pages

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

Irish Independent

  • Icelandic carrier Wow Air will decide this year if it will house its first base outside the Scandinavian country in Dublin. The company offers low-cost transatlantic flights to the US.
  • The new president of the Construction Industry Federation, Dominic Doheny, has said the Government must work with the industry to map a strategy for sustainable jobs and growth creation.
  • A skills shortage is hampering Irish firms from reaching their full potential, according to a new report from professional services firm PwC.
  • Silverbirch Investments, the Luxembourg-based firm connected to beef baron Larry Goodman, tripled its profits in 2014 to €803m.
  • Firms on the Irish stock exchange operating defined benefit pension schemes had a combined deficit of €4.5bn last year, up 50pc compared to 2015.

Irish Times

  • The new owner of fruit distributing giant Fyffes, Sumitomo Corporation, has indicated it may sell the company’s 40pc stake in property firm Balmoral International Land Holdings.
  • Belfast-based nanotech firm MOF Technologies has raised €1.7m in a new funding round.
  • The chances of the Government selling AIB shares in the first half of this year has increased because of an improvement in sentiment towards the bank from the banking sector in recent months.
  • Údarás na Gaeltachta, the company responsible for securing jobs for the Gaeltacht, reported that its client companies created 559 jobs last year.
  • The Minister for State at the Department of Finance, Eoin Murphy, has said that Ireland must step up its lobbying agenda if the country is to secure the relocation of financial firms in the wake of Brexit.
  • Irish companies are preparing to raise wages by an average of 2.5pc this year, according a new report from PwC.

Irish Examiner

  • Fuel prices for motorists have risen to their highest level since March 2015, with prices set to continue to go up in the months ahead.
  • The manner of the UK’s exit from the European Union will have a profound effect on jobs and investment in Ireland.
  • Attendees at the Cork business awards were urged to use the resources of the city to allow it to reach its full potential.
  • Deals on trade and migration will be crucial of the European Union is to survive in its current form.

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