Business

Friday 21 July 2017

Ryanair wants to drive fares down this winter to put pressure on its competitors, chief executive Michael O'Leary says as the airline posts a 37pc jump in after-tax profit for the first half of its financial year - to €1.088bn - excluding a one-off gain of €317.5m from the sale of its stake in Aer Lingus.

Monday

Monday

Ryanair wants to drive fares down this winter to put pressure on its competitors, chief executive Michael O'Leary says as the airline posts a 37pc jump in after-tax profit for the first half of its financial year - to €1.088bn - excluding a one-off gain of €317.5m from the sale of its stake in Aer Lingus.

Anne Heraty, the head of CPL Resources, is named IMAGE Business-woman of the Year at an awards ceremony in Dublin.

Tuesday

US video game giant Activision Blizzard says it's buying Ireland-headquartered King Digital Entertainment, best known for its 'Candy Crush Saga' mobile game, for $5.9bn (€5.4bn). Activision, which produces such games as 'Call of Duty', said the deal "will create one of the largest global entertainment networks".

The strength of the dollar will continue to adversely impact margins at Primark in the current half of its new financial year, owner Associated British Foods (ABF) warns. Primark, which is headquartered in Dublin and trades as Penneys here, said that much of its merchandise is priced in US dollars at source.

Wednesday

A potential British exit from the EU is likely to "significantly reduce" bilateral trade between the UK and Ireland by at least a fifth, a wide-ranging report from the Economic and Social Research Institute (ESRI) states. A 'Brexit' could also lead to higher import prices, the ERSI.

VMWare's new chief technology officer, Limerick native Ray O'Farrell, says he does not expect job losses at the company's Irish operations if a $67bn merger between Dell and EMC goes ahead.

Thursday

Ireland will be the EU's fastest-growing economy this year and next, the European Commission predicts. In its latest forecast, it says Ireland's economy will grow by 6pc this year - far outstripping the 1.9pc EU average.

Bank of Ireland and Allied Irish Banks are to have their financial health probed next year as part of a fresh round of EU-wide stress tests.

Ireland adopted a "model prisoner" strategy regarding austerity, former Greek finance minister Yanis Varoufakis tells the Kilkenomics festival in Kilkenny, and says he didn't expect support from Michael Noonan over his nation's plight.

Irish Independent

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