Thursday 27 October 2016

What it says in the papers: business pages

Published 06/10/2016 | 07:01

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

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Irish Independent

* Ulster Bank will get the green light to pursue takeovers next year, once the bank has shown its on a solid growth path, RBS chief executive Ross McEwan has told the Irish Independent.

And, with Deutsche bank rocked by a $14bn US fine for its role in the subprime mortgage crisis, the RBS boss says his bank, once also a major player in the sector, has been putting money aside to cope with any bills coming its way.

* Dublin Airport has advanced negotiations to establish a direct service between Ireland and China.

Dublin Airport Authority (DAA) chief executive Kevin Toland recently met the administrator of the Civil Aviation Authority of China, Feng Zhenglin, as well as China's ambassador to Ireland, Yue Xiaoyong, to discuss the possibility of a direct route.

* Shares in Tesco soared over 13pc after it reported sales growth in the UK and every other division during the first six months of its financial year.

"We think the crisis is over," chief executive Dave Lewis told analysts in London yesterday.

The Irish Times

* Awards for whiplash injuries have experience major gains in value over the last ten years, rising 9pc to €15,700.

However, injuries in the back on spine have fallen by the same value, according to the Personal Injuries Assessment Board.

* The Government is planning to put budget measures in place to help Irish companies deal with the effects of Britain's exit from the European Union.

The next number of budgets will include initiatives to help firms here get access to finance and open up new export markets after Brexit.

* Departing Central Bank director Gareth Murphy has landed a new job with Scottish pensions giant Standard Life, where he will join in a senior role.

Mr Murphy, who is leaving the role of director of markets supervision, will join Standard Life as chief risk officer of the firm's asset management division.

Irish Examiner

* Property developer Johnny Ronan has been given the go-ahead to push forward with a €200m development of an office block in Ballsbridge in Dublin.

Mr Ronan was given the green light by An Bord Pleanala despite locals lodging six claims against the application.

* Enterprise Ireland has launched a new initiative that will look to increase the number of export markets used by Irish companies.

The move is to soften the blow to firms here that will have to deal with Britain outside of the European Union.

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