Wednesday 26 April 2017

What it says in the papers

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

Irish Independent

*A number of Japanese financial firms have expressed an interest in relocating to Irleand in the wake of Brexit, according to IDA chief Martin Shanahan.

*Four out of ten Irish firms view phishing-the process by which hackers gain access to passwords and sensitive information- as the main cyber security threat in 2017.

* Some of the world’s biggest banks are set to release earning reports this week. JP Morgan, Wells Fargo and Bank of America are all set to publish results which will provide an indication on how the US economy performed over the Christmas period.

Irish Times

*Luxembourg-based Lockeliving.com are seeking permission to develop 100 rooms at the site of the old Zanzibar pub located on the quays in Dublin. The mooted development would cost around €45m.

* Shares in Britain’s top three supermarket chains rose after the sector reported solid results for the Christmas period.

*Dublin based sports app Sportdec is seeking to raise €3m in funding in the first quarter of this year in a bid to fund an expansion. Sportdec counts snooker players Ken Doherty and Stephen Hendry as minor shareholders.

* A survey of economists in the UK has found that the experts as just as pessimistic about the prospects for the UK economy as they were a year ago.

* KPMG has been appointed as liquidator of Galway-based property firm Osberstown Developments ltd. The firm had previously been involved in one of the biggest deals during the Celtic Tiger era, the €312m purchase of Millennium Park in Naas.

* Passenger numbers at Knock airport rose by 7pc last year. A total of 734,031 people used the airport in 2016, a rise of 48,563 on the previous year.

Irish Examiner

*The incoming US Secretary of State, Rex Tillerson, has revealed he is to receive €170m from Exxon Mobil when he takes up his position in Donald Trump’s cabinet.

* The Irish film industry is set for another big year with a number of major projects in the pipeline.

* Minister for Agriculture Michael Creed said the Government is making steady progress in its bid to secure access to the Chinese market for Irish farmers.

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