Business World

Saturday 22 October 2016

The week in Business

Published 23/05/2015 | 02:30

Kingspan's group CEO Gene Murtagh
Kingspan's group CEO Gene Murtagh

A round-up of the main business events over the past week.

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Fifteen leading financial bosses warn that measures such as the Central Bank's mortgage deposit rules could end up creating unknown risks.

Eircom is to shave €60m- €80m off its operating costs over the next three years, as CEO Richard Moat hailed the firm for "turning a corner".

Twitter's self-declared legal switch to Ireland may be a peremptory move ahead of a change in European law spurred by US spying, data protection experts say. Twitter has changed its non-US privacy accountability to its Irish office, making the Irish facility nominally responsible for 250 million users around the world.


It's revealed that Eircom rejected a €3.3bn buyout approach for the company, insisting the price didn't reflect its true value.

Vodafone lost 37,000 Irish mobile customers in the first three months of the year and 110,000 over the last 12 months, according to its most recent set of financial results. But the company gained 7,000 landline customers in the quarter to bring its fixed line customer base to 282,000.

Independent News & Media said the first four months of the year went "well" as digital advertising continued to soar. "We are pleased with the company's performance year to date, notwithstanding certain challenges in the media sector," INM chairman Leslie Buckley said in a statement to the stock exchange.


Greece has raised the spectre of default after admitting that it will not be able to make a scheduled payment to the International Monetary Fund (IMF) next month unless it reaches a crucial deal to unlock much-needed bailout funds.

Irish building materials and energy giant Kingspan, headed by Gene Murtagh, clears the final hurdle in its bid to buy part of a Canadian rival for €109m.


Firms linked to property development firm Davy Hickey have joined forces with some of Ireland's richest people in plans for a major Dublin 400-unit housing scheme in Tallaght that's likely to cost in the region of €100m to build.

The firm behind Riverdance returned to profit last year. Abhann Productions recorded pre-tax tax profits of €711,092 after recording pre-tax losses of €555,151 in 2013

Irish Independent

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