Sunday 25 September 2016

What it says in the papers: business pages

Published 03/05/2016 | 06:57

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

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Irish Independent

* The SuperValu brand could start making an appearance on shop shelves around the world, as Cork-based retail group Musgrave plots a targeted internationalisation of its products.

Musgrave chief executive Chris Martin told the Irish Independent that while its plans are at a very early stage, the group is looking at how it might emulate retailers such as UK-based Waitrose, which sells its products to other retailers around the globe.

* Marc Benioff, the US internet billionaire who's chief executive of software giant Salesforce, has invested in Irish biotech firm Nuritas as part of a fresh €2m fundraising by the firm, the Irish Independent has learned.

Mr Benioff made his investment via his California-based Efficient Capacity vehicle.

* Norwegian Air International is facing increasing opposition in the United States to its plan to fly from Ireland to America.

The US Department of Transport has now extended a Friday deadline by 10 days for receiving objections to its plan to grant a permit to the Dublin-based airline - a subsidiary of Norwegian Air Shuttle.

The Irish Times

* An Australian entrepreneur has revealed himself as the creator of the controversial currency by posting a picture of himself on a blog showing "proof".

Craig Steven Wright claims to be the creator of the digital asset and said he is the man behind the pseudonym Satoshi Nakamoto.

* An overwhelming majority of businesses in the North and the Republic believe the UK should stay in the European Union as the risks associated with a Brexit begin to mount.

Irish businesses ranked the potential effect it would have on the Irish economy as the primary concern, while the need for a united EU marketplace also ranked highly.

* Over a quarter of small Irish shareholders in Vodafone opted to sell their shares in the company for free after a special reduced commission offer was offered to anyone holding 50 or fewer shares in the firm.

According to a report in The Irish Times just over 26pc of shareholders have replied to the offer from Vodafone in the ten week period since it has been issued.

Irish Examiner

* Irish trade union Siptu has failed in its bid to gain a 15pc wage increase for those working at logistics firm Felxtronics.

The dispute over pay went to the labour court where it was recommended staff receive a 5pc increase over the next two years at the loss-making firm.

* Greenpeace has criticised a new free trade deal being discussed between the EU and the US, saying the deal would lower both food safety and environmental standards.

The European Commission iterated that the documents Greenpeace were referring to were positions of negotiation and not the final outcome.

* FBD Holdings has named Jim Ryan as its new chief commercial officer for FBD Insurance. Mr Ryan is joining FBD from his role at Ulster Bank, where oversaw branch banking.

Mr Ryan is to join FBD next week and will look after the company's 33 Irish branches.

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