Friday 30 September 2016

The week in Business

Published 18/07/2015 | 02:30

Dublin Commissioner for Start-Ups, Niamh Bushnell.
Dublin Commissioner for Start-Ups, Niamh Bushnell.
Jane Ni Dhulchaointigh
Michael O'Leary's Ryanair is suing several of its Spanish staff

A look back at the main business events of the week.

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Monday

The National Treasury Management Agency (NTMA) refuses to disclose how much it is paying advisers it hired to help the Government decide whether to sell the State's 25.1pc stake in Aer Lingus as part of a €1.36bn takeover bid by IAG.

The company behind mouldable glue Sugru, which was co-founded by Kilkenny woman Jane Ni Dhulchaointigh, has raised £3.5m (€4.9m) from 2,700 investors in a record crowdfunding campaign.

Michael O'Leary's Ryanair is suing several of its Spanish staff in a Madrid court after workers went on strike in a dispute over pay and working conditions, the Irish Independent learns. The Dublin-based carrier claims that workers still striking after an earlier dispute are doing so illegally.

Tuesday

The upcoming Budget should introduce a scheme to encourage more investors to back early stage firms with their savings, according to a paper prepared by a group of business leaders - founded by Dublin Commissioner for Startups Niamh Bushnesll, below - representing over 2,000 startup firms in Dublin.

Irish aircraft-leasing firm Avolon - which is headed by Domhnal Slattery - significantly bolsters its presence in Asia after agreeing to sell a 20pc stake in the business to Chinese firm Bohai Leasing for $429m (€399m).

Wednesday

Thousands of Irish investors - including a who's who of business people - are set to share in a near €250m windfall as one of Ireland's best-known public companies, NTR, fades from the corporate landscape, the Irish Independent learns.

Thursday

Aer Lingus executives - including former boss Christoph Mueller - will split up to €15.6m from the sale of bonus shares following the €1.36bn takeover of the airline by IAG. Aer Lingus shareholders voted in favour of key resolutions that pave the way for the sale of the airline.

Irish Independent

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