Business World

Thursday 8 December 2016

FG's 0.5pc levy 'robs Peter to pay Paul'

PENSIONS

Published 22/02/2011 | 05:00

PROPOSALS for an annual levy on pension funds will amount to forcing private sector workers to further subsidise public sector pensions, the Irish Association of Pensions Funds (IAPF) has claimed.

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And politicians were accused of being too focused on their own "lottery-sized pensions" while ignoring the crisis facing private pensions. IAPF chairman Marie Collins said Fine Gael's promised levy of 0.5pc was akin to "robbing Peter to pay Paul". Murdoch buys daughter's TV firm

MEDIA

RUPERT Murdoch's News Corp agreed in principle to buy his daughter's UK-based television production company, Shine Group Ltd, for £415m.

Elisabeth Murdoch is expected to join the board of News Corp upon completion of the deal, the company said yesterday. The move would bring her back into the fold of her 79-year-old father's media empire, where she worked until 2000 at pay-TV company BSky.

Shine produces hit shows such as'MasterChef' and 'Merlin'. Shine last month said it hired JPMorgan Chase to advise on options and opportunities.

Kingspan damaged by false advertising

COURTS

KINGSPAN has welcomed a High Court ruling against a competitor regarding false advertising.

The court ruled that marketing roadshows and videos undertaken by Rockwool Limited were misleading and breached Kingspan's trademarks, causing damage to its reputation.

The case related to a series of roadshows and videos conducted by Rockwool which purported to compare the fire performance of Kingspan and Rockwool products. Damages, if any, will be decided at a later date.

ECB buys up €711m in Portuguese debt

BONDS

THE EUROPEAN Central Bank has said it bought €711m worth of eurozone government bonds last week, ending a three-week pause in the controversial programme and backing up reports from traders last week that it had been buying Portuguese debt.

The new purchases increase the programme's total spending to €77bn. Bond market traders have reported that the ECB has been intermittently buying Portuguese debt over the last week and a half.

Irish Independent

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