Business

Thursday 29 September 2016

The week in Business

Published 29/08/2015 | 02:30

Ryanair CEO Michael O'Leary dressed as Robin and Car Trawler CEO Mike McGearty dressed as Batman kiss to seal the deal.
Ryanair CEO Michael O'Leary dressed as Robin and Car Trawler CEO Mike McGearty dressed as Batman kiss to seal the deal.
Vodafone is to release a host of new data centres
Albert Manifold, chief executive officer of CRH

A look at the main events in business during the week.

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Monday

US stocks stage a recovery after the Dow Jones briefly plummeted around 1,000 points on opening after 'Black Monday', sparked by concerns over China.

Kingspan earmarks €20m for its initial expansion into Mexico as it reveals that revenue rose 39pc to €1.24bn, while trading profits jumped 61pc to €111.7m.

Vodafone is to release a host of new data centre services for business and public sector clients this October. The company is spending €7m on improving infrastructure and technology available in its existing Dublin-based data centre in Clonshaugh.

Tuesday

The ISEQ Overall Index closes up 4pc - its biggest one-day jump in more than five years - as European and US stocks bounce back from 'Black Monday'.

Ryanair boss Michael O'Leary and Cartrawler CEO Mike McGearty kissed for the cameras as they sealed a car hire tie-up deal. And Mr O'Leary predicts the "mother and father" of all fare wars this winter in Europe.

Wednesday

The world's biggest online betting group is set to emerge from the planned €7.5bn merger between Paddy Power and UK firm Betfair. Shares in both companies surge on the news.

An Irish technology company Intercom lands a €31m funding round from investors who include Mark Zuckerberg, Sheryl Sandberg and Twitter boss Jack Dorsey.

Thursday

CRH - Ireland's biggest company - is on the cusp of a "very significant growth period" after being "to hell and back" in the European market, says chief executive Albert Manifold. CRH reveals a strong first-half performance, driven by growth in the United States.

Both Irish Continental Group and Grafton Group report strong growth and profits, while Jameson Whiskey reports 26th year of consecutive growth.

Irish Independent

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